JioCoin on Polygon Quietly Begins Blockchain Testing Phase Now?

JioCoin on Polygon Testing Points to Reliance Jio’s Web3 Expansion

Is Reliance Jio silently stepping into the world of Web3? New online chatter would hint that JioCoin on Polygon has quietly begun testing on the blockchain. Though there is still no official statement coming from Reliance Jio, the recent activity has pulled this project back into the headlines.

 If this move is true, then this might turn out to be a big moment for India's digital future.

JioCoin on Polygon Testing Stirs Curiosity Online

Social media users tagged a senior Polygon executive recently, asking if it has gone live on-chain. Some reports say the testing of the same has already begun on the $POL network, quietly without much fanfare.

Source: X (formerly Twitter) 

This is not the first time this has made headlines. In October, for example, there were reports that Reliance Jio had partnered with Aptos for a blockchain rewards program. 

Even earlier, last January, JioCoin was launched inside JioSphere browser as a reward token on this platform. Past updates like these indicate that the project has been in the works for a while.

What is JioCoin and how does it work?

It does not function like a regular cryptocurrency. It's more of a reward token than a trading coin. Customers will earn this by using Jio's services: browsing, watching videos, or online shopping. The idea is for the token to be utilized within the Jio ecosystem for mobile recharges, discounts, or special offers.

By keeping it as a utility token, JioCoin on Polygon avoids India's strict crypto taxes, which include the 30% tax on profits and 1% TDS. This also shields users from ups and downs in the market. It allows everyday users to experience blockchain in a simple and safe way.

Why Polygon Is Important for This Project

Polygon is known for fast transactions and very low fees. That is why it suits a project like this, which may someday handle millions of small reward transactions daily. With more than 450 million users in Jio's network, the system needs to be fast, cheap, and stable.

For this platform, though, the partnerships could be massive. If even a fraction of Jio's users start using the blockchain regularly, the impact on Web3 adoption in India could be enormous.

JioCoin Price Prediction

Right now, it is not listed on any exchange, so it has no public market price. The experts believe that if JioCoin on Polygon is ever made tradable someday, the early price may remain low because of the large supply and reward-based structure involved. 

Based only on market behavior for similar tokens, a speculative launch range could fall in the range of $0.01 to $0.05. It should be noted that this is just an educated guess and thus not a confirmed prediction.

Final Thoughts

Reliance Jio is seemingly taking a slow and cautious approach in the Web3 space. Although JioCoin on Polygon hasn't been confirmed even to date, recent activity certainly tends to indicate that something is indeed brewing in the background. 

If this project were to go into full public use, it could very well become India's largest real-world blockchain adoption story. For now, all eyes remain on Jio and Polygon as the story continues to develop.

Disclaimer: This article is for informational purposes only, kindly do your own research before investing.