Jio Platforms, owned by Indian billionaire Mukesh Ambani, has introduced a new token called JioCoin.
On January 16, Kashif Raza, the CEO of Bitinning, posted on X that the JioCoin wallet was live. He added, “You can accumulate JioCoins in a Web3 Wallet built on Polygon”.
Built on the Polygon
$0.4749
network, JioCoin acts as a reward for users browsing the internet through JioSphere. That said, Reliance Jio has not released any details about its purpose or future use.
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Speculation suggests that JioCoin might eventually allow users to redeem rewards for services such as mobile recharges or purchases at Reliance outlets, though no official confirmation has been provided.
Raza noted in another post on X, saying that Reliance Jio operates across a vast network of companies. He believes JioCoin could play a central role within this ecosystem, which could become one of the largest reward programs globally.
However, in a January 17 post on X, Author Sunil Aggarwal raised concerns about JioCoin’s transparency. He questioned whether it has a block explorer, verified smart contracts on Polygon, or listed details about its supply. Without answers to these questions, he described JioCoin as an experimental project.
Meanwhile, Phantom, a cryptocurrency wallet, recently denied rumors of creating a new token. What did the company say? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
