• One of India’s biggest telcos launched its own cryptocurrency
• Called JioCoin, it is currently unredeemable and untradeable
• It will potentially be integrated in Reliance Jio’s entire ecosystem of apps and products

Millions of people across India are getting much-needed exposure to the world of Web3 through none other than – Reliance Jio, one of the country’s biggest telecommunications providers.

Earlier this week, the company launched JioCoin, a digital token designed to support the company’s wide network of digital products.

JioCoin’s Current Functionality

At the moment, JioCoin does not have a price, cannot be purchased, or transferred anywhere. It can only be generated by using the Jiosphere web browser.

The generated tokens are then stored in a wallet on the Polygon blockchain.

JioCoin’s Potential Uses

While still in early development, people are already talking about the possibilities of JioCoin. Some analysts are speculating that users will be able to pay for mobile phone and broadband internet services, subscribe to different Jio apps like JioCinema, or JioCloud, or make purchases on the JioMart online grocery platform.

Other…

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