Reliance Jio is planning to create its own cyptocurrency-JIOCOIN. The Jiocoin project is being led by Mukesh Ambani’s elder son Akash Ambani .Under it, Reliance Jio is planning to build a 50-member team of young professionals to work on blockchain technology, which can also be used for multiple applications and develop various blockchain products.
Reliance Jio also aspires to get into Internet of Things (IoT). Blockchain technology would come in handy there,” the person said IoT is a network of devices such as smartphones, wearable devices, home appliances and vehicles, connected to the internet, which enables these objects to connect and exchange data. Experts have also pointed out that blockchain could potentially address security risks to IoT as it provides a shield against data tampering by labelling each block of data.