JioCoin: Reliance planning own cryptocurrency, Akash Ambani to lead project

The company aspires to get into the Internet-of-things business and blockchain will help its foray

RIL Chairman Mukesh Ambani with his son, Akash. Pic: Kamlesh Pednekar

RIL Chairman Mukesh Ambani with his son, Akash. Pic: Kamlesh Pednekar

BS Web Team
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.  

Also Read

For security agencies, blockchain is now a potential solution

Reliance Industries plans to be among top 20 global firms

Ambani dials Ambani: Jio to buy RCom's mobile biz assets for Rs 24,000 cr

Mukesh Ambani's RIL mulls Reliance Jio IPO by 2019

Mukesh Ambani's RIL may be planning to list Reliance Jio next year

MMTC plans a full-fledged portal for transaction of gold and silver

Domestic pharmaceutical sales growth at eight year low, slips to 5.5%

Intel asks users to delay updates, says patches can cause reboot snag: WSJ

TCS bags $2 bn deal to transform Transamerica's insurance & annuities admin

Govt may hold on to around a 26% stake in Air India after sell-off

First Published: Jan 12 2018 | 12:33 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to