While the new coin is being hailed as Crypto currency, is it a complete cryptocurrency? The product is an afterbirth of the union of Jio along with Polygon Labs, a leading blockchain technology company. One of the key elements of the announcements is that Jio Coin can be earned for free.
Unlike Bitcoin and a few other coins, that have been based on the Crypto technology that makes the coin Infinite, Jio coin uses Ethereum level 2 at its back end. Beyond that the value of the Jio Coin might be decided by the Guarantees that Jio offers with it.
Is It a Crypto Currency ?
Is Jio Coin a Crypto currency? Jio coin is not a full fledged Crypto Currency for the lack of a better phrase, the coin could possibly be a Crypto Based Reward. Its possible that Jio might offer the currency as a reward point. Hence that is the reason that Jio Users earn Jio Coins for free when they use Jio Services.
How Can You Earn Jio Coin For Free?
The Jio Coin is a reward based token built on the Ethereum Layer 2 Technology. These tokens have been specifically designed to reward users for their use of Jio across different platforms. The reward program is only available for users that have Indian registered mobile numbers.
If you use Jio apps on different platforms Jio users would be able to earn Jio Coins. If you want to earn Jio Coins you can do so by going to Profile section at the Jio Sphere App, which is available on Android, ios, Windows, MAC and Android Tv.
You would further have to apply for the Jio Coins Program and then on you would be able to earn Jio Coins whenever you use the Jio sphere app to browse the web. Or use the internet for watching videos, articles, and play games.
The reward system could possibly be quite similar to that of the credit cards. While Jio has been actively promoting the coins as a reward system there has not been any word as to how a user might be to redeem these said coins. But as per expectation the Jio users would be able to use these coins to avail for discounts. The users would further be able to charge their phones with it or pay for broadband services. So in a way its Jio’s own local currency that can be used across their platforms, but it has been based on a cryptocurrency blockchain type architecture.
