Reliance Jio seems to be quietly exploring the cryptocurrency world with the introduction of JioCoin, a blockchain-based reward token spotted within the JioSphere web browser. While Reliance Industries has not made an official statement, users of the JioSphere app on both Android and iOS have uncovered references to JioCoin in the app’s FAQ section, fueling speculation about its potential applications.
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According to the app’s description, JioCoin is a blockchain-based token built on Ethereum Layer 2 and integrated with Polygon Labs, a platform known for its focus on scalability and efficiency. Users can reportedly earn these tokens by interacting with Jio’s digital ecosystem, such as using MyJio or JioCinema, linked to their Indian mobile numbers. The earned tokens are deposited into a wallet powered by Polygon Labs’ Proof of Stake (PoS) technology, marking a significant step toward blockchain adoption in mainstream platforms.
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Polygon Labs’ Global Payments Head, Aishwary Gupta, acknowledged this development in a LinkedIn post, revealing that JioSphere now features a native wallet integration for storing JioCoins.
Rewards With Untapped Potential
Although the specifics remain unclear, JioCoins are described as reward tokens for browsing the internet via the JioSphere web browser. Market speculation suggests that these tokens could eventually be used for Jio services such as mobile recharges, utility bill payments, or other digital offerings. Analysts believe the value of JioCoins might be tied to user activity, making them a tool to drive higher engagement across Reliance Jio’s digital platforms.
As Reliance Jio enters the blockchain space, JioCoin could pave the way for new trends in user rewards, loyalty programs, and decentralized finance integration. Whether this marks the beginning of a larger crypto initiative by Reliance remains to be seen, but the buzz surrounding JioCoin is already significant. For now, users and observers alike are keeping a close eye on what could become a game-changer in India’s digital and cryptocurrency landscape.
