New Delhi, Is Mukesh Ambani’s next-door cryptocurrencies in to-do list? According to a report, Reliance Jio Infocomm is working on a plan to bring himself the cryptocurrencies jio coin. In a report of Business Newspaper Mint, it has been claimed that a group of 50 members is working on blockchain technology. This team is working under the supervision of Mukesh’s eldest son, Akash Ambani.
This report has come at a time when the government has taken a drastic reduction in the prices of Bitcoin in South Korea after taking strict action of the government on the cryptocurrency exchanges and the banks recognizing them. Due to the preparation of locks on cryptocurrency exchanges in South Korea, the biggest source of demand in the world of cryptocurrency is the fear of drying. It is worth mentioning that 20 percent of the world’s alone consumption of cryptocurrency is of South Korea.
According to data collected by Bloomberg, the cost of Bitcoin fell 12 percent to $ 12,801. Later it improved by 6 percent. At the same time, ripple was 14 percent while eterium fell 4 percent. In fact, the governments around the world have become alarmed by the growing craze for the people in the rising prices of digital corporations. From people to Wall Street Banks, the cryptocurrencies are attracting.
Even in India, Finance Minister Arun Jaitley and the Reserve Bank of India (RBI) have also warned that people should transact Bitcoin on its own risk. The government says that there is no crypto currency in the country, including bitcoin. At the same time, the Reserve Bank has said many times that it is not authorized to make a crypto, trade or use it in payment by any central bank or monetary authority. Finance Ministry has termed Bitcoin trading as Ponzi scheme.
Nonetheless, Jio did not comment on the news related to making a digital currency, but the report said that Ambani’s plan to take advantage of BlockChain Technology for smart contracts is in the initial stage.