Reliance Jio Coin: Jio Platforms, led by billionaire Mukesh Ambani, has partnered with internet technology company Polygon Labs. Social media users are interestingly talking about its new venture, JioCoin. Screenshots are shared online. Moreover, Reliance’s tech subsidiary, Jio Platforms, has partnered with Polygon Labs to bring Web3 and blockchain technology to India.
“JioCoins are blockchain-based reward tokens that users can earn by engaging with different mobile or internet-based apps as decided by Jio Platforms Limited (JPL) using their Indian-based mobile numbers,” said the Reliance’s FAQ section.
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Moreover, Jio Coin do share some similarities with cryptocurrencies, but it cannot be termed as a traditional cryptocurrency. JioCoin is more like a rewards program or digital loyalty points, rather than a traditional cryptocurrency like Bitcoin or Ethereum.
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Traditional cryptocurrencies, like Bitcoin and other decentralized tokens, operate on open blockchain networks as investment assets. However, JioCoin serves as a customer retention tool.
Jio Coin: Top Competitors In Same Price Range
| Cryptocurrency Name | Price | Market Cap |
|---|---|---|
| Jio Coin | $0.50 (Tentative) | Not Known |
| Tether | $1 | $141.92 billion |
| Dogecoin | $0.2657 | $39.32 billion |
| USD Coin | $1 | $56.38 billion |
| Cardano | $0.7933 | $27.97 billion |
| TRON | $0.2453 | $27.97 billion |
| Stellar | $0.3292 | $10.07 billion |
| Hedera | $0.2464 | $9.42 billion |
| Shiba Inu | $0.00001628 | $9.58 billion |
| Pepe | $0.00001035 | $4.36 billion |
| Dai | $1 | $5.37 billion |
| Ondo | $1.39 | $4.39 billion |
| Mantle | $1.07 | $3.58 billion |
| VeChain | $0.03514 | $2.85 billion |
| Cronos | $0.09803 | $2.69 billion |
| Polygon Ecosystem Token | $0.3247 | $2.78 billion |
| Algorand | $0.309 | $2.6 billion |
| Kaspa | $0.1015 | $2.61 billion |
| Arbitrum | $0.488 | $2.12 billion |
Source: crypto.com