Reliance Jio aspires to get into Internet Of Things (IOT) market with JioCoin.
As soon as Mukesh Ambani publicized his ideas on getting into the cryptocurrency sector with JioCoin, the Indian digital currency investors are eagerly waiting for its launch. JioCoin has created a huge hype about itself and has left many open questions in the minds of Indian traders such as:- Is Indian government planning to legalize the cryptocurrency investments?
- On which areas, JioCoin's blockchain technology will be used?
- What will be the price of a JioCoin?
- When is the launch date of JioCoin?
Indian government's strict warnings
JioCoin is still in its development phase and is expected that there will be many obstacles which it needs to overcome. A 50 member team is currently working on the development of blockchain platform on which JioCoin will be leveraged.
Reserve Bank of India says that all virtual currencies are stored in the digital-electronic media which are commonly knows as electronic wallets. Hence these digital assets are prone to losses which occur due to hacking, compromises with stolen credentials, loss of passwords, and other known malicious activities which are common in the field of software attacks.
RBI also suggests that the absence of information of the traders in such peer-to-peer transactions could subject the users to accidental breaches of anti-money laundering and other unethical practices.
Moreover the trades on cryptocurrencies are done on exchanges whose legal status are still unclear.
JioCoin's Blockchain
Cryptocurrencies work on top of the secured blockchain architecture which maintains transactions in a decentralized platform. Blockchain seems to be one of the most secured platform in today's world and many organizations are moving towards leveraging their applications on a decentralized platform. The blockchain technology being developed by the 50 members blockchain team is expected to be a versatile platform and will be helpful in supporting various applications. Moreover the blockchain architecture of JioCoin is believed to primarily focus on enabling secured Internet Of Things (IOT).
JioCoin Price Prediction
Price of a cryptocurrency generally starts low and increases over a period of time. The rise in the price of cryptocurrency depends on its popularity and how widely it gets accepted as a mode of payment in other economic sectors as well. JioCoin is also expected to start low and it's initial price is expected to be less than $1 (around Rs. 64).
JioCoin Launch Date
The latest updates on JioCoin suggests that launch of the much awaited JioCoin is not very far. If not wrong, JioCoin will be released on 15th February, 2018. Though it is not yet officially confirmed by the authorities who are involved in the JioCoin, we may not assume much delays in its launch.
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