In a big move by India’s richest businessman Mukesh Ambani Jio Platforms has joined hands with prominent tech company Polygon Labs. Reliance’s new venture Jio Coin has become the talk of the town as netizens discuss it and share screenshots online. Jio Platforms the company’s tech subsidiary has partnered with Polygon Labs to introduce Web3 and blockchain technology to India. What Is JioCoin? According to Reliance’s FAQ section JioCoins are blockchain-based reward tokens introduced by Reliance. Users can earn these JioCoins by using mobile or internet-based apps with their Indian mobile numbers. Reliance Jio Coin: Why This Move Is To Special By introducing Jio Coin Reliance is bringing blockchain technology to the country as per “CoinDCX”. These coins can led to more people in India using cryptocurrencies. Value Of This JioCoin The official value or cost of JioCoin has not been revealed by Reliance. But according to several media reports these coins could be valued approx Rs 43 ($0.50) per token. Reliance Jios JioCoin functions primarily as a digital loyalty rewards program instead of a conventional cryptocurrency. It is smoothly integrated with Jios services encouraging users to engage within the ecosystem by utilizing Polygon blockchain technology. JioCoin Reliance has designed JioCoin to assist Jio’s digital services like online shopping data storage and payments. As India adopts blockchain technology this coin may increase financial access and promote a technology-driven economy said the report by “CoinDCX”. With time when people of India adopt blockchain tech JioCoin may increase their financial access and also promote a tech-driven economy.