Reliance has yet to make an official announcement, but reports said that both Android and iOS users have started noticing ‘JioCoin’ on their devices.
Reliance Jio customers have reportedly started noticing a new cryptocurrency token called ‘JioCoin’ on their Android and iOS devices.
The cryptocurrency is built on the Ethereum Layer 2 network and is currently listed on Polygon Labs. Reliance has not yet made an official announcement about the token.
According to the FAQ section on the JioSphere browser, “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 using their Indian-based mobile numbers.”
It enables users to earn Web3 tokens by interacting with various Jio applications, such as MyJio and JioCinema, which are expected to support JioCoin soon.
Users can accumulate ‘JioCoins’ for free just by surfing the internet on the JioSphere web browser, and the tokens are deposited into their Polygon Labs wallet.
In a post on X dated January 17, Indian author Sunil Aggarwal expressed concerns about the transparency of ‘JioCoin’. He questioned the existence of a block explorer, verified smart contracts on Polygon, and any details regarding its supply. Without clarity on these points, he referred to the purported cryptocoin as an experimental project.
Speculations suggest that such a currency may be utilised for mobile recharges, utility bill payments, and other Jio services.
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