As per a report in Mint, Reliance plans to hire 50 young professionals to work on blockchain technology.
What is Blockchain ?
Blockchain technology is a decentralised digital ledger in which transactions made in cryptocurrencies are recorded chronologically and publicly.
While the JioCoin plan is still in its first stage, the official did tell the business daily as to how Reliance Jio could use the new technology.
They said: "It can be used in supply chain management logistics. Loyalty points will altogether be based on JioCoin." The company's new venture will be lead by Mukesh Ambani's son Akash Ambani.
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