We know that Bitcoin price soared from $1000 to $14000 in 2017 and ethereum from $8 to $734, though this week they were under pressure for both, BTC and Ripple, due to South Korea's ban.
JioCoin will join the bandwagon but with the difference. Its a pseudo cryprocurrency actually.
1. We must understand the rationale behind the tie up of Reliance - the biggest tycoon and current PM. Its a win-win deal for both. In all possibilities, JoCoin will capture your Aadhar Card/ PAN Card details and hence assist government in its pursuit to put more and more people under tax radar. (On this condition, government has to legalize it. )
2. Its going to work like a Paytm with higher value , without any limitations and restrictions.
3. It will have a sound backing. People won't be skeptical - they will accept and believe. (Don't we trust Reliance as a brand and see them around anywhere and everywhere. )
4. There won't be transaction cost and that's where customer will be attracted. Ambani's have put Voda and Airtel in their place, now its turn of banks and other financial institutions.
Reliance is now a part of governance.... doesn't belong to any Ministry or political group. They are capitalists amidst the democracy.
This will be a surprisingly beneficial turn of events. The indian government which is known to have solid binds with the Reliance family won't have the option to boycott digital currency exchanging india since their own one of a kind top picks are managing in cryptographic money now.
I couldn't care less really about the estimation of JioCoin or what innovation they would work in, the difficult they will probably fathom but since they are entering the market, the administration wouldn't have the option to boycott digital money which would create a great deal of trust in the cryptographic money Indian market which is still in its early stages stage.