Jiocoin from India's largest 4g provider

Asian crypto market is the largest market in the world.
Reliance jio which is India's biggest 4G provider is all set to launch its 1st Crypto named as "Jiocoin".
Entire india is eagerly waiting for its 1st crypto currency.
Will it make impeach as ripple and bitcoin having on market right now.
“The company plans to hire 50 young professionals with average age of 25 years for Akash Ambani to lead. There are multiple applications of blockchain (for the company). The team would work on various blockchain products,” reports Mint citing a person familiar with the development.

Read: Ethereum, Ripple, Litecoin, Zcash, Verge and Dash: Here are Bitcoin's six closest rivals

Blockchain can act as a decentralised shared public ledger, keeping a record of all transactions taking place across a peer-to-peer network. Although a key element of cryptocurrency, its application potential is being increasingly explored in sectors such as smart contracts and financial services. The information is held on blockchain through a shared database which can be accessed on a real-time basis. This database is not stored on physical servers but on the cloud, which makes it easy to store unlimited data.

Mint quoted the person cited above as saying, “one (application) is cryptocurrency. We can deploy smart contracts. It can be used in supply chain management logistics. Loyalty points could altogether be based on JioCoin, adding that all of this was “in proposal stage”.