Jio Coin: All You Need To About Their Cryptocurrency!

Mukesh Ambani founder of Reliance Industries’ technology subsidiary Jio Platforms confirmed a cooperation with Polygon Labs, the developer of Polygon Protocols for its Web3 and blockchain launch in the country. 

With this collaboration, Jio’s customers will be able to utilize the Web3 benefits such as improved privacy and can control their private information to access new and advanced rewarding services. However, there is no official statement disclosed yet from Ambani-led Reliance Jio on the Jio Coin utilization and about other things.

Jio Coin

Billionaire Mukesh Ambani telecom organization Jio Platforms recently introduced its reward-based token, called JioCoin on the Polygon blockchain network. On January 16, 2025 users on X came to know that JioCoin combined with Jio’s proprietary JioSphere web browser. 

This advancement became public after Jio’s partnership with Polygon Labs to increase its offerings with Web3 as well as blockchain facilities. JioCoin can work as a reward mechanism for individuals who browse the inter-net through JioSphere. Still yet, Jio officials have not disclosed any information about the token’s utility.

For what purpose does the Jio coin is designed?

JioCoin is basically designed as a reward mechanism for such individuals who will browse the internet via JioSphere. Even after containing this function, as of now  JioCoin is not transferable or redeemable for individuals. 

Professionals make it clear that Jio Coin value will be clearer because it works within Jio’s wide ecosystem that connects various businesses in India. 

CEO of Bitinning “Kashif Raza” expected that the JioCoin can be utilized for services such as telephone recharges or buying at Reliance gas stations. Raza stated that JioCoins is the most important reward program in the world.

Jio Coin Benefits

JioCoin is the recently introduced project from Reliance Industries, India’s largest organization, into the crypto world.  Mukesh Ambani’s well-known telecom company, Jio, aimed to change the digital transaction system in the country by launching a blockchain tech-powered ecosystem. 

Commonly known as a utility token, JioCoin is anticipated to boost the Jio’s digital services such as online payments, electronic-commerce, and data storage. With India introducing blockchain modernization, JioCoin is considered as a critical and crucial step regarding promoting financial inclusion and adopting a tech-driven economy.

This initiative will make JioCoin as a leader in country’s crypto adoption and can bring blockchain technology in India.  Reliance’s reputation can also increase JioCoin’s status, increase curiosity and hope in the crypto as well as tech communities.

Criticism on Jio Coin 

The launch of JioCoin has not been free from criticism. Sunil Aggarwal, a famous writer and crypto analyst, raised worries about the token’s transparency and legitimacy. He asked JioCoin has any block explorer and valid smart agreements on the Polygon network.

They want to know whether it allows customers to verify transactions or provides details about its circulating supply. On the other hand, promoters of the JioCoin compared it with the Basic Attention Token (BAT) utilized by the Brave browser, claiming that it can provide similar facilities in India. 

What are the regulatory difficulties for Jio Coin?

The introduction comes during the strict regulatory conditions for cryptocurrencies in the whole country that contain a 30% gains tax and a 1% tax deduction at the source. That’s why investing in cryptocurrencies can be challenging for many individuals in India. 

Jio Platforms provide facilities to more than 450 million Indian users, making it one of the country’s biggest mobile network operators.

Indian crypto influencer Aditya Singh suspected that JioCoin will be a non-tradable reward token for Jio services users. He wrote that, It is very good for Jio because the crypto regulations are not clearly disclosed in the country, and the Jio coins rewards system can easily satisfy current tax laws.

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