Bitcoin Forum

What is JioCoin?
JioCoin is used to create a standard payment platform for $200 billion eCommerce industry  in India and eliminate the need transaction fees and high sales tax andcreate awareness of CryptoCurrency in India which has 1.3 Billion population.

Real Time Applications of JioCoin

Developing a SmartContract based eCommerce Platform
1. Seller lists the product. Ji platform creates SmartContract.

2. Buyer buys the product & tracks using BlockChain Technology.

3. Once the product is delivered the SmartContract gets executed and money is transferred to the Seller.

4. Transaction will be held using JioCoin

Why Not Mining?
1. Due to the high infrastructure costs, people are hesitant to mine. The research and news articles states that India was never part of CryptoMining unlike other countries.

2. High Electricity costs in the cities, and no continuous electricity in the Villages

Why PreMine?
1. Distribute coins for every user at minimal price, 1JioCoin = 0.30Indian Rupee (or 0.01USD)
2. 70% of the Coins have been PreMined, the total valuation of the Premined Coins = 9,80,000 USD (98000000 * 0.01 ). The money will be used to hire developers and build the platform. The money will be used for development of the eCommerce.

Algorithm   Scrypt
Type   PoW/PoS
Coin name   JioCoin
Coin abbreviation   JIO
Address letter   J
RPC port   32498
P2P port   32497
Block reward   100 coins
Total coin supply   140000000 coins
Premine percent   70%
Premine amount   98000000 coins

WebSite:
http://www.myjiocoin.org


We are open to suggestions to improve and become the largest cryptocurrency in India.

70% premine😂😂😂 go to work guy

While I understand your ambition to elminate high fees and tax, I'm not really sold I'm afraid. I was hoping to find out some more information from your website however it's quite vague and contains no whitepaper or the team behind your project. I will check back in when this and more information has been distributed.

That is a very big premine, 70% of the coins in the devs hands is abnormal in my opinion. It won't give potential investors much confidence.

GOOD LUCK WITH YOUR PROJECT, THAT'S A GOOD PRICE FOR YOU!

Population in India = 1.3 billion Source: Census
Youth Population = 356Million (10-24 years) Source: UN
Internet Connectivity & Educated Youth = 200Million

After Premining we have 98000000 Coins to distribute to 200Million Users(assuming everyone wants to get into CryptoCurrency)

If i had not premined the coins and left it for the people to mine using Mining software, the cryptocurrency awareness will be status quo.

I understand that Premining is considered a Scam. In this specific scenario without premining and awareness, there will no market penetration.

Not a scam at all if there is transparency and a reasonable percentage held by the developers. It is the only way to raise the required finances for exchange listings and of course, payment for the devs work. 70% is a lot though.

We will see if we can give away most of the coins for Free, after collecting KYC as per the law.

Based on my experience and research 9,80,000USD for 70% for the Coins is the least.

We will strive to be very transparent.

If 70% is the least, what is the maximum acceptable ?

That means you're going to launch a ICO? I bet it will fail, a project without a perfect plan will not attract investors, and at least I don't see the plan at the moment.