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While one may mistake JioCoins as a cryptocurrency, it is actually a blockchain-based reward points system
Over the years, Reliance Jio has introduced many innovative products and services. The latest game changer appears to be JioCoins, which is set to benefit people who use various Jio services. Let us delve deeper and try to understand this latest Jio offering in more detail.
What is JioCoins?
Since the term ‘coin’ is used, it is easy to think that JioCoins is a cryptocurrency launched by Reliance Jio. However, that is not entirely true. The JioCoins platform does utilize cryptographic technology (Ethereum Layer-2) for managing the transactions. The platform has been developed via a collaboration between Jio and Polygon Labs. The latter is a leading player in blockchain technology. While JioCoins may seem like a cryptocurrency, it is actually a more advanced form of reward points system.
JioCoins is not a conventional cryptocurrency like popular options such as Bitcoin. JioCoins is not available for trade on cryptocurrency exchanges. And the price of JioCoins is yet to be announced. But since it is a reward points system, users are expected to benefit immensely.
How to earn JioCoins?
Since it is a reward points system, anyone can earn JioCoins. The only requirement is to download the JioSphere web browser and start using it. JioSphere web browser is available on both Google Play and App Store. You can also install it on your Windows PC, Mac and Android TV. Once you have installed the JioSphere web browser, you have to register for the JioCoins program. This option is available in the JioSphere app, under the Profile section.
Once registered, you just need to start using the JioSphere web browser. The more interactions you have, the more JioCoins you can earn. JioCoins will be directly transferred to your wallet. JioSphere is quite beneficial, as it offers premium features for free. For example, JioSphere web browser has VPN, ad-blocker, anti-tracking, voice search, QR code scanner and Incognito mode. In the future, JioCoins could also be added to other Jio platforms such as JioMart, JioCinema and MyJio.
How to redeem JioCoins?
Reliance is yet to announce the redemption structure for JioCoins. It is expected to be revealed in the coming weeks. In the meantime, you can continue to earn JioCoins for free just by using the JioSphere web browser. Experts indicate that when activated, JioCoins could be used for various Jio products and services. For example, you could recharge your Jio plan using the JioCoins. Or buy various items on JioMart. Backed by blockchain tech, users can expect a transparent and seamless experience with JioCoins.
