News : Reliance Jio planning its own cryptocurrency called JioCoin !!

India : With Mukesh Ambani’s elder son Akash Ambani leading the JioCoin project, Reliance Jio plans to build a 50-member team of young professionals to work on blockchain technology, which can also be used to develop applications such as smart contracts and supply chain management logistics.

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

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,” the person cited above said, adding that all of this was “in proposal stage

While Jio has not commented on the move, the report claimed that Ambani's plan to tap into blockchain technology for smart contracts was still in the "proposal stage".

In future, India have its own cryptocurrency!