Jio’s Silent Rollout of JioCoin Token
Indian telecom giant Jio Platforms has quietly introduced JioCoin, built on Polygon and now part of the JioSphere browser.
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JioCoin was launched discreetly, following Jio’s collaboration with Polygon Labs to integrate blockchain technology into its services. The token is expected to reward browser users, mirroring the concept employed by Brave.
Users are optimistic that JioCoin will later be usable for real-world transactions like mobile top-ups, store purchases, or fuel at partner stations. With Jio’s massive user base of 450 million, this initiative has the potential to become one of the world’s largest loyalty programs.
At present, JioCoin’s functionality is limited. Sunil Aggarwal, author of Bitcoin Magnet, points out that the token is still in its experimental phase. It lacks key features like a blockchain explorer, robust transaction verification, and information on its circulating supply. Furthermore, its smart contracts likely haven’t been audited for security.
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Despite these flaws, the initiative has been well-received. Reward programs are legal under Indian law, unlike cryptocurrencies, which lack regulatory clarity. This has led many to view JioCoin as a promising tool to boost engagement between the company and its vast customer base.
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