HIGHLIGHTS
- Reliance has launched its new blockchain-based coin.
- The coin is named after Jio.
- Even though it’s based on blockchain, it is different from cryptocurrency.
Reliance has announced its blockchain-based coin named “JioCoin.” The coin was developed to reward users for engaging with Jio apps and services. After collecting the coins, the users can redeem them to save a few bucks on the transactions.
What is Jio Coin? How to Earn and Redeem it?
The recently introduced JioCoin is a blockchain-based digital coin. It was issued by Reliance and developed in partnership with Polygon Labs. Polygon Labs is a popular blockchain technology firm. Since it is based on blockchain, many users may start thinking of it as some cryptocurrency, but it is not. It’s not officially listed on crypto exchanges and can’t be sold/bought there.
To access JioCoin, the user must download the JioSphere app on compatible devices (Windows, MacBook, Android Phone and TV, iPhone). After downloading, simply open the app, give permission and consent, and then tap on your profile icon. Now, you will see a banner with the tag “Ready to unlock rewards?” Tap on it and then Sign in. That’s it—your JioCoin wallet will be created.
Now you will start earning JioCoins once you start using the JioSphere browser. However, there’s no definite value of the coin, meaning the firm can determine the value on its own. Also, details about its redemption remain unknown for now.
