Press "Enter" to skip to content

Facebook Reliance Jio deal: Positive Impact on the blockchain and cryptocurrency industry in India?



Facebook has invested $5.7 billion into Reliance’s Jio Platform for about 10% stake in the platform. This is the single biggest minority investment by a technology player into India and Facebook’s largest investment in India toll date. While the deal is expected to have a huge impact on the e-commerce and retail space, it is likely going to have a huge impact on the blockchain and cryptocurrency industry in India. Facebook has already announced its Libra project and Reliance Jio is also rumoured to harbour cryptocurrency ambitions through JioCoin. In addition, Reliance also wants to deploy a huge blockchain network in India. This partnership will likely boost crypto and blockchain adoption in India.

References:

Why Facebook is spending billions for a minority stake in Reliance Jio:

Like the Crypto Dost Facebook page:

Follow Crypto Dost on Twitter:

For enquiries, write to [email protected]

Disclaimer: Please keep in mind that I have made this channel to share my experiences in the cryptocurrency market. I am not a professional financial advisor and the information provided is solely for educational purposes. Consult your own financial advisors and do your own research before investing in cryptocurrencies. Investing in cryptocurrencies is inherently risky and you can also lose all the amount you invested. Only invest the amount you can afford to lose. The channel shall not be liable to the viewer for any damages, claims, expenses or losses of any kind (whether direct or indirect) suffered by the viewer from or in connection with the information obtained on this channel.

source