 "RIL Chairman Mukesh Ambani with his son, Akash. Pic: Kamlesh Pednekar")
Reliance Jio is planning to create a cryptocurrency of its own called 'JioCoin', and will put together a young team of 50-odd professionals under Akash Ambani to kickstart the project, a Livemint report claims. The Ambani scion is reportedly interested in developing blockchain technology to aid the development of smart contacts and cryptocurrency payment-enabled supply chains.
Blockchain is a digital ledger that works as a book-keeper for cryptocurrencies.
'Jio' a leap into Reliance's future?
Reliance Jio has disrupted India's telecom sector in the past year-and-a-half by offering services at hyper-competitive prices, forcing other telcos to follow
