Jio-Facebook deal likely to boost adoption of crypto-blockchain in India

Deal may result in Jio piloting a cryptocurrency that can be used for discounts or reward points within its telecom, entertainment and e-commerce spaces once regulatory hurdles are cleared

Social media giant Facebook's decision to pick up a minority stake in Reliance Industries-owned Jio is likely to boost the adoption of cryptocurrency and blockchain technology in the country.

According to experts tracking this development, this may result in Reliance Jio piloting a cryptocurrency that can be unilaterally used for discounts or reward points within its telecom, entertainment and e-commerce businesses, once regulatory hurdles are cleared. The behemoth is also expected to look at using blockchain technology for easing supply chain constraints, they said.

"It certainly is a significant development considering that both the giants have a massive interest in