In A Hurry To Buy Reliance Jio Coins? Beware, Don’t Get Conned By This Fake Website!

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Reliance Jio Infocomm is planning to launch its own cryptocurrency- Jio Coin.  However, a new website has come to the fore with a similar name.

The website – which comes with URL reliance-jiocoin.com – has also been named as such that it looks like a sister organization of RIL. It has also the icon of RIL – the parent organization of Jio. The website states that the Jio Coin will have a launch price of Rs 100 per coin. It is also asking people to register with their full name and email address.

Bitcoin dropped as much as 12% to $12,801, before paring losses to about 6%. For Reliance, the time seems ripe to launch their own cryptocurrency. The company plans to hire 50 young professionals with an average age of 25 years for Akash Ambani to lead. The team would work on various blockchain products.

Reliance Jio also aspires to get into Internet of Things (IoT). Blockchain technology would come in handy there, a source was quoted. IoT is a network of devices such as smartphones, wearable devices, home appliances and vehicles, connected to the internet, which enables these objects to connect and exchange data.

Governments around the world are increasing scrutiny of cryptocurrencies as surging prices attract everyone from individual investors to Wall Street banks.  Significantly, the Indian government has cautioned against cryptocurrencies, stating that virtual currencies were not backed by assets and posed risks such as money laundering. The finance ministry, Arun Jaitley and Reserve Bank of India (RBI) have warned bitcoin users on the risks such cryptocurrencies carry. Jaitley has even said that cryptocurrency is not legalized as of now.

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