JioCoin Launched | Mukesh Ambani's Jio Partnership with Polygon Labs.

Hay there, JioCoin is launched with partnership of Polygon Labs and Mukesh Ambani's Jio which is control by Reliance Industries Limited. With this project, Jio enter into the blockchain and Web3 platform with the goal of improving the user experience in digital ecosystem.

JioCoin is a reward blockchain based token created by the Reliance Jio partnership with Polygon Labs. JioCoin runs on the Polygon blockchain using Ethereum Layer-2 technology for enhanced safety and adaptability. I have shared the more insights about JioCoin which I have breakdown below that I come to know so far.

What Is JioCoin?

As mentioned above JioCoin is a token introduced by Mukesh Ambani's Jio with the collaboration Polygon labs. As of now the JioCoin has been designed to be used as a reward system for people that use JioSphere browser which is one of the Jio product that use to browse the internet. The Jio partnered with Polygon Labs launching JioCoin is to expand its Web3 and blockchain services.

Purpose Of JioCoin.

Jio currently has many platforms such as MyJio wherein user can pay the bills, grocery shop, mobile recharge, then another platform is Jio Cinema which is OTT platform, then JioSphere browser which is use to surf the internet. The purpose of the JioCoin is to enable consumers to benefit from the tokens for a variety of activities within the Jio ecosystem, including shopping, mobile recharges, and special offers. JioCoin is seems to be looking to integrate this Web3 features into mentioned above Jio's current services.

How Do You Get/Earn JioCoin?

The distribution of JioCoin is yet to be started to consumers but as of now the JioCoin wallet is integrated into the JioSphere browser mobile app. The JioCoin wallet soon available in JioSphere browser for Windows.

By using JioSphere browser for surfing the internet, the users may earn JioCoin which will be directly available in their JioCoin wallet within Jio app such as JioSphere browser mobile app like shown below. Similar to this the user may earn JioCoin through using various Jio apps like mentioned above.

_{Jio Wallet.}

The amount of earning JioCoin is depends on the how much users are engaged with the Jio apps. As currently JioCoin wallet is available in JioSphere browser mobile app, you can follow the below steps to register for JioCoin in JioSphere browser mobile app.

1️⃣ Download and install the JioSphere browser mobile app, For Android Play store search for JioSphere browser.

2️⃣ Follow the Welcome kit and accept the terms of use.

3️⃣ Open JioSphere browser mobile app and click on profile icon to access the JioCoin.

4️⃣ Click to the Sign In. Above this option, you can see reward option by JioCoin.

5️⃣ Sign in with your Jio mobile number and you can give your name as nickname or anything that you would like to display. After filling details, click on Get OTP.

6️⃣ You will get an OTP to complete the registration. Fill the OTP details and click to Sign in.

7️⃣ After sign in, the JioCoin option will be available to you. Click to this.

8️⃣ Click to Sign in under reward program to provide your authorization to start getting JioCoin.

9️⃣ Now, you will see the JioCoin wallet.

🔟 You will also see earned JioCoin below your profile icon.

What Is Key Features Of JioCoin?

By using the JioSphere web browser, which is compatible with Android, iOS, Windows, Mac, and Android TV, users can earn JioCoin. The uses of JioCoin have not yet been made public but numerous articles saying that the JioCoin could be used for redeemed within jio apps to get discount on broadband plans, mobile recharges, and paid subscriptions like JioCinema and JioSaavn. JioCoin can also be used to make purchases at Reliance petrol stations, Reliance Fresh, or Reliance Smart shops.

JioCoin Market Value?

The information of JioCoin market value have not yet been available but in some news articles it is expected that the JioCoin market value could be around INR 43 to INR 55.

JioCoin on Crypto Exchange?

The information so far available about JioCoin, currently it is not available for listing on the Crypto Exchanges, also JioCoin is nontransferable token. The JioCoin only be used within a Jio apps as a reward to users which they can use within Jio apps to buy the things.

Can You Make Money with JioCoin?

Since the lot of questions about JioCoin like whether it is available to trade on cypro exchange, its initial price is yet to be announce by the Reliance Jio. However, the expected uses are explained on various blogs and forums like mentioned above. So, we can expect that utilizing JioCoin within Jio apps like for mobile recharge, buy subscription on OTT platform, Jio gas stations, Jio grocery app, the consumers can save their lot of money that indirectly help them to make money.

Indian Government Regulation Affect.

In India the cryptocurrency cannot use as tender of currency. The RBI and SEBI which are main regulators will be keeping close eyes towards JioCoin launching and its development. The implementation and development of JioCoin will also decide how it will be taxed hence it is yet to see how Income Tax department make rules for JioCoin.

Jio Partnership with Polygon Labs.

Sandeep Nailwal, the founder of Polygon, expressed excitement about the collaboration by saying "This is a significant step forward for web3 adoption in India. We look forward to working with Jio as they introduce Web3 to their millions of customers." Source.

Kiran Thomas, the CEO of Jio Platforms Limited said "Joining forces with Polygon Labs marks a significant milestone in Jio's journey towards digital excellence. We are excited to explore the boundless possibilities of Web3 and bring unparalleled digital experiences to our users." Source.

Mukesh Ambani has a solid business mind which proven in last many years, leading Reliance Industries Limited he become one of the richest persons in the world. Mukesh Ambani and Reliance always come up with a solid business which somehow also get benefited to the Indian consumers. He is the one of who make 360 turns to entire telecom sector by newly launched Jio sim, with this internet calling new feature he makes the rechange with very affordable, cheap price. If you remember Initially Jio has given free use of Internet and calling service around 6 months.

The JioCoin could be a Mukesh Ambani and Reliance new step to become very first from India to enter in to digital currency world. Not sure but early signup users may get potential from the JioCoin, also if somehow it gets listed on the crypto exchange, then there is a higher chance for early signup users to get a good return.

The Polygon labs crypto token known as MATIC, after live JioCoin, it will definitely benefit to the Polygon labs as this move can be one of the biggest and once in a life. The official information about entire use of JioCoin is yet to be available but if everything goes smooth as expected then it will be biggest good news for Polygon labs which positively effect on its token market value.

Please refer following link for official announcement from Polygon labs available on their official site about Jio Partnership: https://polygon.technology/blog/jio-platforms-ltd-is-collaborating-with-polygon-labs-to-bring-web3-capabilities-to-450-million-jio-users

The official announcement from Reliance Jio is not yet available but we can see JioCoin Wallet is now available in JioSphere web browser mobile app. For Windows it will be available soon as mentioned on JioSphere web browser official site (https://jiosphere.com/index.html), refer below image for the same.

Further, compared to similar reward systems such as the Brave browser's Basic Attention Token (BAT). While some experts commend its compliance with Indian crypto law and more clarity is yet to come on JioCoin long-term goals and organizational structure.

Overall, JioCoin is a curious move in the Indian digital world. The fact that JioCoin is a non-tradable prize token that meets nicely with Indian current laws, which also pays taxes on cryptocurrency. With this strategy, Jio can incorporate blockchain technology while maintaining compliance by current laws. More information about the JioCoin value, functionality, and growth within the Jio ecosystem will become available as it develops.

Since JioCoin is a new project, it's best to keep up with Reliance Jio's official statements for reliable and official source of details about its price and use cases.

Update in the comment section what you think about this new step by Reliance Jio, JioCoin and partnership with Polygon Labs.

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