Reliance Jio is now preparing to bring Cryptocurrency JioCoin. It is being told that this responsibility will be on the shoulder of Mukesh Ambani’s eldest son, Akash Ambani. His team will include 50 people who will develop blockchain technology for JioCoin.
Here’s a point to note that many governments around the world, including India, have issued warnings on virtual currency. More recently, the Reserve Bank of India had said that cryptocurrency like BitCoin has not been recognized and investing in it is not free from danger.
At the same time, Finance Minister Arun Jaitley also said that as it is not legally taxable. In such a situation, there will be no compensation after investing in it. However, no official statement has been received by Reliance Jio on this matter so far.