Finance

Reliance Jio to develop its own cryptocurrency 'JioCoin'

Reliance Jio to develop its own cryptocurrency 'JioCoin'

Reliance Jio is hoping to use the work by the new team to get into the IoT (Internet of Things) space. Working on the applicability of private and permissioned-blockchain solutions, the company is considering to rope in all the three technologies together in other Reliance companies too.

Reliance Jio is yet to confirm the report. The company is planning to build JioCoin along with 50 team members of young professionals who will work on blockchain technology that will be used to develop applications such as smart contracts and supply management logistics.

Mukesh Ambani, head of Reliance Industries, is planning to launch cryptocurrency called JioCoin, The Mint reported today (12 January).

Blockchain is a digital ledger for storing data including, but not limited to, financial transactions. This database is not stored on the physical server, but it is stored on the cloud.

If the reports are to be believed, then the venture led by India's richest man is looking to launch its own cryptocurrency with the name JioCoin.

Extending CHIP Would Actually Save Taxpayers Money: CBO
Jones became the 24 co-sponsor of the bill , the Keep Kids' Insurance Dependable and Secure (KIDS) Act of 2017. It works to safeguard the health of children, and long has enjoyed bipartisan support .

In the wake of the significant spurt in the valuation of many virtual currencies, Reserve Bank of India (RBI) warned public that it has not given any licence to anyone to operate such virtual currencies.

"One application is cryptocurrency", the source said. The blockchain technology, once developed, may be put to other uses, like supply chain logistics and so on. "Loyalty points could altogether be based on JioCoin", the person cited above said, adding that all of this was "in proposal stage".

The recent surge in prices of various cryptocurrencies has made a lot of Indian individuals interested in investing in the trading, however, the government has been skeptical about allowing a legal route to trade. Union Finance Minister, Mr. Arun Jaitley said that government does not consider it as legal tender.

A survey conducted by the Income Tax Department has revealed that there are six lakh active traders of cryptocurrencies such as Bitcoin in nine digital currency exchanges across India, while 25 lakh people are registered to trade.

Bitcoin and different digital forms of money have gone under the scanner of governments over the world as their taking off costs pulled in theorists and unexperienced retail speculators in huge numbers.


  • Turkey issues tit-for-tat travel warning for US

    Turkey issues tit-for-tat travel warning for US

    According to USA travel advisory, the world's most risky countries to travel include Afghanistan, Iran, Iraq, Syria and Yemen. Relations between the two North Atlantic Treaty Organisation allies have been strained recently over a number of issues.
    APS Crews To Restore Power In Puerto Rico

    APS Crews To Restore Power In Puerto Rico

    While the flu has hit the region, a shortage of intravenous fluids used to treat extreme cases of it has not. Yet. "We continue to work with our suppliers and manufacturers to meet our patient's needs".
    Amir Khan signs fight deal with Matchroom to end Eddie Hearn feud

    Amir Khan signs fight deal with Matchroom to end Eddie Hearn feud

    He is still one of the big names in boxing and there are some huge fights out there for him - Broner, Thurman, Spence, Pacquiao. And he said his time in the jungle was crucial in allowing him to think about his boxing career.
  • UIDAI allows Airtel to resume Aadhaar-based e-KYC till 31 March

    UIDAI allows Airtel to resume Aadhaar-based e-KYC till 31 March

    From June 1, 2018 it will be compulsory for all agencies that undertake authentication to accept the Virtual ID from their users. Experts pointed out that the virtual ID is voluntary and the Aadhaar number will still need to be used at some places.
    Raptors' Ibaka, Heat's Johnson suspended for throwing punches

    Raptors' Ibaka, Heat's Johnson suspended for throwing punches

    The skirmish began when the two started shoving each other while waiting for the ball to be inbounded under the Miami basket. That's a question you probably gotta ask him". "We're winning", Whiteside said, per ESPN . "Just exchanged some words.
    Lalu Yadav's masseur, cook at his beck and call in Ranchi jail

    Lalu Yadav's masseur, cook at his beck and call in Ranchi jail

    The RJD jumped to its leader's defence, insisting that the presence of Mahto and Madan Yadav in jail was "conicidental". This is not the first time the two have accompanied the RJD chief to Ranchi jail.
  • Intel Reports 'Significant Progress' In Patching Chip Security Flaws

    Intel Reports 'Significant Progress' In Patching Chip Security Flaws

    Besides when you are talking 15 years of chips being affected there was never going to be any way Intel would have done a recall. Past couple of days there was this commotion about Spectre and Meltdown vunrabilities in hardware, even Xbox One.
    What's on center stage at the CES tech show? Your voice

    What's on center stage at the CES tech show? Your voice

    One category to see is cellular service robots, which may manage deliveries and other straightforward tasks. Genuinely innovative gadgets that are destined for mass adoption are the exception, not the rule at CES.
    Two Brees touchdown passes give Saints halftime lead

    Two Brees touchdown passes give Saints halftime lead

    After the game , Jaguars defensive end Yannick Ngakoue said Bills guard Richie Incognito used "weak racist slurs" during the game. All told, Carolina converted just one of its four opportunities inside the 20-yard line. "You've got to stay poised".
  • Rob Lowe slams Bella Thorne for insensitve tweet

    Rob Lowe slams Bella Thorne for insensitve tweet

    We had never heard about any of this before now, ' said Beckett, who previously ran a removals company for Delancey. Emergency personnel carry a woman rescued from a collapsed house after a mudslide in Montecito, California, U.S.
    Former Vikings backup Keenum ready for first chance at NFL playoffs

    Former Vikings backup Keenum ready for first chance at NFL playoffs

    That isn't much better than his yards-per-carry in the first matchup between the two teams in Week 1 of the regular season. As many know, both Williams and head coach Sean Payton were then suspended for an entire year as a result of "Bountygate".
    Stephen Miller slams 'Fire and Fury' as 'grotesque work of fiction'

    Stephen Miller slams 'Fire and Fury' as 'grotesque work of fiction'

    The reporter said it was based on two sources and an audio recording of the exchange. "The segment was over and Mr. Miller was politely asked to leave the set multiple times", the source said.