Indian Mobile Operator to Launch Own Blockchain

New network, which is going to be launched in a year with tens of thounds nodes operational will focus on the distribution and high privacy
12 August 2019   1156

Indian mobile operator Reliance Jio Infocomm, owned by the country's richest man Mukesh Ambani, intends to launch its own blockchain within a year. This was stated by Ambani himself.

[The company will install] one of the largest blockchain networks in the world in India. [On the first day of its launch] tens of thousands of nodes [will be operational].

Mukesh Ambani

Owner, Reliance Jio Infocomm

New network will focus on the distribution of content while maintaining data privacy. Also, as reported, the company’s blockchain network will not only power industries but offer users data privacy as well.

Note that the company also entered into a partnership with Microsoft, involving the use of the Azure cloud platform for the "digital transformation of India."

Most likely, the Jio Infocomm blockchain will not have a native token, since, as you know, the bill on the complete ban on cryptocurrencies is already under consideration by the government.

In early 2018, it became known that Jio Infocomm intends to launch its own cryptocurrency to manage supply chains and loyalty programs called JioCoin. So, the announced project may be a variation of previously announced plans.

In the past, Ambani's conglomerate Reliance Industries also used the R3 Corda blockchain platform to conduct export transactions.

70 Crypto Hedge Funds to Close in 2019

At the same time, the number of funds opened this year is not even half of the values of the past two years
05 December 2019   71

About 70 cryptocurrency hedge funds focused on pension funds, family offices and other large investors closed this year. It is reported by Bloomberg.

The diagram below shows that the largest number of such funds were launched in 2017 and 2018 (291 and 284, respectively):

Crypto Fund Launches by Year Plummet
Crypto Fund Launches by Year Plummet

At the same time, the number of funds opened this year is not even half of the indicators of the past two years.

Most funds this year appeared in North America (28) and Europe (23). Asian countries and other regions are significantly behind in this regard.

2019 Crypto Fund Closures by Region
2019 Crypto Fund Closures by Region

The market is definitely retail driven and will remain so for the foreseeable future.

Nic Carter

Co-founder, Coin Metrics.

Blockchain Capital's general partner Spencer Bogart has a different perspective. In his opinion, the institutionalization of the market continues.

Taking a step back, I think some would argue that the levels of institutional adoption are disappointing or underwhelming but, of course, this view depends entirely on expectations. To me, the fact that there is any institutional adoption for Bitcoin only 10 years into existence is a radical success and beyond what anyone could have imagined just 3 or 4 years ago.

Spencer Bogart

General partner, Blockchain Capital LLC