Jiocoin! Light at the end of tunnel?

[Bitcoin Smith]

There are lot of news all over the X about a coin name Jiocoin and many crypto news outlet reported it as well. I haven't seen any official announcement yet but people claim they are already noticing the integration on Jiosphere (not sure what's it either). But basically what I understand from the available data is jiocoin is a token running on polygon network that can be earned via mobile recharges, purchase at reliance store and many more ways which are still unknown.

And it's very much similar to BAT token from brave browser which was quite popular in it's days so my question is if this becomes true then Jiocoin is going to change the fate of crypto in India because Ambhani knows that 30% capital gains and 1% TDS will be a hurdle for their marketing so I am sure he will do anything in his power to make it changes more friendly, that is the reason for the title, "Light at the end of tunnel" followed by big question mark.

[JSRAW]

I've said earlier that if big players like mota bhai get into this game seriously then in regards to BTC, crypto and blockchain use cases it's a big plus and potentially positive change on GOI's policies.

Mota bhai is all about scaling and driving masses to their product and considering the JIO ecosystem, mass adoption will follow.  

Jiosphere (not sure what's it either).

It's a browser
https://www.jio.com/jcms/apps/jiosphere/

Thread on jiocoin
https://x.com/Mr_Chartist/status/1880299442752118893

[pakhitheboss]

I've said earlier that if big players like mota bhai get into this game seriously then in regards to BTC, crypto and blockchain use cases it's a big plus and potentially positive change on GOI's policies.

Mota bhai is all about scaling and driving masses to their product and considering the JIO ecosystem, mass adoption will follow.  

Jiosphere (not sure what's it either).

It's a browser
https://www.jio.com/jcms/apps/jiosphere/

Thread on jiocoin
https://x.com/Mr_Chartist/status/1880299442752118893

He is what he is, he will never shy away from venturing into a field that is new to big business houses in India. The concept is simple he and his organization are trying to use the make-in-India ideology to sell India's first web browser. What his organization did was to use the marketing idea of Brave and Carbon browser. These two browsers as per my knowledge are the ones that pay their user using their native crypto to use their browser for daily browsing.

Now the question arises as to why Jio did not come up with its blockchain and why suddenly ventured into cryptocurrencies when the government of India has been against it since 2022. Can we expect a change in stance by the government of India like reducing the tax burden and encouraging big business houses to come up with their crypto?

[pawanjain]

There are lot of news all over the X about a coin name Jiocoin and many crypto news outlet reported it as well. I haven't seen any official announcement yet but people claim they are already noticing the integration on Jiosphere (not sure what's it either). But basically what I understand from the available data is jiocoin is a token running on polygon network that can be earned via mobile recharges, purchase at reliance store and many more ways which are still unknown.

And it's very much similar to BAT token from brave browser which was quite popular in it's days so my question is if this becomes true then Jiocoin is going to change the fate of crypto in India because Ambhani knows that 30% capital gains and 1% TDS will be a hurdle for their marketing so I am sure he will do anything in his power to make it changes more friendly, that is the reason for the title, "Light at the end of tunnel" followed by big question mark.

You could have continued the discussion in the previous thread Jio Partners with Polygon to implement Web3 applications as it resembles the same news.
Coming to the point, even I got to hear about Jiocoin which can be earned using the Jiosphere browser.
As you said, it reminded me of BAT token but that wasn't a huge success but lets see how Jiocoin makes it different than BAT.

I just checked it's website and it's just another regular browser and Jiocoins can be earned by interacting with mobile based apps by JPL(Jio Platforms Limited.
Source:
https://jiosphere.com/index.html

[pakhitheboss]

You could have continued the discussion in the previous thread Jio Partners with Polygon to implement Web3 applications as it resembles the same news.

I do not agree with your point that this topic should have been on the same thread. What @OP did was correct as that topic never revealed that JIO was planning to come up with their native crypto for promoting their browser. I think such topics will help the board to increase the activity which we are lacking as of now I feel this time we will see an increase in everything that we are lacking on the monthly report.

[Bitcoin Smith]

Mota bhai is all about scaling and driving masses to their product and considering the JIO ecosystem, mass adoption will follow.  

Non-written law but a known fact, if he wishes he can bend the rules from government in any way.

that topic never revealed that JIO was planning to come up with their native crypto for promoting their browser. I think such topics will help the board to increase the activity

More over this thread is different from Jiocoin launch, the context of this thread is whether the Jiocoin is gonna change the future of Indian crypto policies just like what happened to data price when they come up with Jio. So I don't think as well this thread should be continued in the same thread.

[JSRAW]

Mota bhai is all about scaling and driving masses to their product and considering the JIO ecosystem, mass adoption will follow.  

Non-written law but a known fact, if he wishes he can bend the rules from government in any way.

I want such people to bend the rules and in doing so, talk some sense to our political class. Also, I would trust Dhandobaaj over our bureaucrats and politicians any day because the former has skin in the game, unlike the latter group. Call it crony capitalization or whatever but I believe India needs 1000s of Ambanis-Adanis-Tata-Birla.

~snip~

I think his young kid Akash Ambani was involved in all these processes and took the lead for quite some time. I don't remember the exact timeline (Pre-covid or post covid) but he was very much vocal about jio ecosystem in regards to blockchain.

[pakhitheboss]

More over this thread is different from Jiocoin launch, the context of this thread is whether the Jiocoin is gonna change the future of Indian crypto policies just like what happened to data price when they come up with Jio. So I don't think as well this thread should be continued in the same thread.

I have serious doubts whether this step by Reliance Jio will affect the government's current policies. I do acknowledge the fact that Mukes Ambani is a pioneer who has taken risks and evolved as a winner. The data price war was something everyone still acknowledges within our country and the foreigners living/working in our country. That did not change any existing TRAI policy it was only fair for Jio to come up with a reduced data charge with the network they built and invested in. After that, we saw how Vodafone and Idea merged and invested heavily to upgrade their network, same for Airtel. The policies never changed but the situation got changed for the consumers who were rewarded with low tariffs.

I think his young kid Akash Ambani was involved in all these processes and took the lead for quite some time. I don't remember the exact timeline (Pre-covid or post covid) but he was very much vocal about jio ecosystem in regards to blockchain.

I was thinking about Anant Ambani as he is heading Jio and not Akash Ambani as he is into philanthropy projects like his mom. It is strange for me to think this guy was way more advanced than his brother in understanding the tech behind Bitcoin and crypto in general. As of now, this coin is not being traded on any exchange as per my research. Unless it gets listed it will be not easy to judge or understand how this coin will perform in the future.

[Bitcoin Smith]

More over this thread is different from Jiocoin launch, the context of this thread is whether the Jiocoin is gonna change the future of Indian crypto policies just like what happened to data price when they come up with Jio. So I don't think as well this thread should be continued in the same thread.

I have serious doubts whether this step by Reliance Jio will affect the government's current policies. I do acknowledge the fact that Mukes Ambani is a pioneer who has taken risks and evolved as a winner. The data price war was something everyone still acknowledges within our country and the foreigners living/working in our country. That did not change any existing TRAI policy it was only fair for Jio to come up with a reduced data charge with the network they built and invested in. After that, we saw how Vodafone and Idea merged and invested heavily to upgrade their network, same for Airtel. The policies never changed but the situation got changed for the consumers who were rewarded with low tariffs.

I am not sure how much TRAI played a role with decreasing the tariffs because they were in the era of no Jio and they were allowing the atrocities of Airtel but Jio came with 4G unlimited data the Airtel fought with TRAI to end the unlimited 4G data by showing a rule then Jio announced plans and now the market is controlled by Jio and Airtel. Even now they are increasing the rates gradually and TRAI can't do anything about it.

[pakhitheboss]

I am not sure how much TRAI played a role with decreasing the tariffs because they were in the era of no Jio and they were allowing the atrocities of Airtel but Jio came with 4G unlimited data the Airtel fought with TRAI to end the unlimited 4G data by showing a rule then Jio announced plans and now the market is controlled by Jio and Airtel. Even now they are increasing the rates gradually and TRAI can't do anything about it.

This news came out a few days back, Govt working on proposal to waive a substantial portion of AGR dues: Sources. This will help stop the duopoly of Jio and Airtel in the current telecom market. BSNL 5G will be launched this year a lot of rural users of Jio and Airtel will shift and port their numbers to BSNL because of the network coverage.

I still think Jiocoin is just another marketing strategy by Reliance and will not hold any significant position in the crypto market.

[pawanjain]

This news came out a few days back, Govt working on proposal to waive a substantial portion of AGR dues: Sources. This will help stop the duopoly of Jio and Airtel in the current telecom market. BSNL 5G will be launched this year a lot of rural users of Jio and Airtel will shift and port their numbers to BSNL because of the network coverage.

Even if BSNL comes out with 5G plans do you think they will be able to match the speeds of Airtel or Jio ?
I think the speed will be comparatively very slow than what Airtel and Jio offers.

I still think Jiocoin is just another marketing strategy by Reliance and will not hold any significant position in the crypto market.

Even I think the same. I personally feel they have just copied concept of brave browser.
Brave browser was a failure and I feel the same will be the fate for JioSphere browser.

[avikz]

I am seeing many videos about Jiocoin in my insta feed nowadays. Some are even calling it as the Indian version of Bitcoin. That's way too bullish I would say.

It is highly likely going to be a loyalty rewards coin for using Jio services which you can utilise for Jio services to get some discounts etc. it is highly unlikely to become a mainstream and independent crypto currency system.

But Ambani ji has his own way to surprise the country. Something radical may happen with Jiocoin in the coming days.

[Bitcoin Smith]

This news came out a few days back, Govt working on proposal to waive a substantial portion of AGR dues: Sources. This will help stop the duopoly of Jio and Airtel in the current telecom market. BSNL 5G will be launched this year a lot of rural users of Jio and Airtel will shift and port their numbers to BSNL because of the network coverage.

Even if BSNL comes out with 5G plans do you think they will be able to match the speeds of Airtel or Jio ?
I think the speed will be comparatively very slow than what Airtel and Jio offers.

They can, but they won't because of the lethargic work ethics from the government employees.

Speed may not be that priority cause even if the BSNL come up with 10 or 20% of Jio speed still people can prefer the BSNL because of the economical packs but the problem with BSNL is poor customer service and unstable network connectivity even in the main places. If BSNL wants to enter the game, they need to strengthen their network capability to handle more traffic.

[pawanjain]

They can, but they won't because of the lethargic work ethics from the government employees.

Speed may not be that priority cause even if the BSNL come up with 10 or 20% of Jio speed still people can prefer the BSNL because of the economical packs but the problem with BSNL is poor customer service and unstable network connectivity even in the main places. If BSNL wants to enter the game, they need to strengthen their network capability to handle more traffic.

Oh man, don't get me started with the poor customer service from BSNL.
I had a BSNL broadband connection once and used to face internet outage almost every week.
So I disconnected the service within 2 months and I was supposed to get a refund but when I enquired in the customer service what I heard was shocking.
They said that there are thousands of such refunds which are yet to be approved from the government and so waiting a few years for the refund is the least expected thing.
That said, since BSNL is a government company, the only advantage it offers is the economical plans and rest everything is crap.

I am seeing many videos about Jiocoin in my insta feed nowadays. Some are even calling it as the Indian version of Bitcoin. That's way too bullish I would say.

Forget next version of bitcoin, I would say it will become the next version of BAT token.

[Bitcoin Smith]

^ Let me share my bitter experience with BSNL as well, before the Jio and even before that I have no other choice than BSNL for broadband so I took a plan after paying the deposits as well as for their telephone service because they said they won't give only internet service, we need to opt along with telephone which is false because BSNL provided only internet too but I tried my best and can't able to make them understand so I got the service and it worked for few months.

And there was some underground works started which disconnected the BSNL service in the few streets and I still forced to pay the tariffs because they can't give exclusion even though not providing service is not my fault and months passes with no effort to restore the service and I had to pay around a year of subscription fee due to their negligence and that's when I decided I won't use BSNL anymore and never did till now.

[pawanjain]

^ Let me share my bitter experience with BSNL as well, before the Jio and even before that I have no other choice than BSNL for broadband so I took a plan after paying the deposits as well as for their telephone service because they said they won't give only internet service, we need to opt along with telephone which is false because BSNL provided only internet too but I tried my best and can't able to make them understand so I got the service and it worked for few months.

And there was some underground works started which disconnected the BSNL service in the few streets and I still forced to pay the tariffs because they can't give exclusion even though not providing service is not my fault and months passes with no effort to restore the service and I had to pay around a year of subscription fee due to their negligence and that's when I decided I won't use BSNL anymore and never did till now.

Damn, that's worse than my experience. I wouldn't have paid after 1 month if the service was still unusable.
But we must all really thank Ambani for bringing Jio because Jio was truly a revolution.
Just like how bitcoin revolutionized the financial domain, Jio revolutionized the telecom domain.

[Bitcoin Smith]

Damn, that's worse than my experience. I wouldn't have paid after 1 month if the service was still unusable.
But we must all really thank Ambani for bringing Jio because Jio was truly a revolution.
Just like how bitcoin revolutionized the financial domain, Jio revolutionized the telecom domain.

Well, it was 2G era and BSNL was the only option for high speed internet connection in mid and small towns so I had no other option than just to wait for them to resolve but patience has its limits too.

Even if we don't pay, still they will deduct from the deposit amount and any overdue will be collected too in one or other way.