Project introduction:
Jibrel Network aims to promote the digitization, listing and trading of traditional assets such as currencies, bonds and other financial instruments on the blockchain. Jibrel decentralized bank allows platform users to deposit cash, money market tools, or create their own "cryptographic depository receipts (CryDR)" to benefit from blockchain-based / blockchain-based transactions. Decentralized institutions and funds that are excessively exposed to digital currencies can hedge their positions and protect funds through stable assets. In addition, Jibrel will provide developers with a complete platform to build tools and applications that use asset-backed token certificates for trading, investment and hedging. In addition, Jibrel can achieve real-time, almost zero-fee global transactions in the form of fiat-to-fiat transactions through peer-to-peer (P2P), business-to-business (B2B) or consumer-to-business (C2M) channels. Payment and remittance.
Circulation information
Project concept: Using blockchain technology to digitize traditional financial assets
Crowdfunding time: 8:00 p.m. on November 27, 2017-January 26, 2018
Total tokens: 200 million
Total amount of crowdfunding tokens: 120 million
Tokens: JNY, ERC-20
Token price: 1 JNT=0.25 USD
Crowdfunding hard cap: 1150wJNT or 2875w USD
Pre-sale information: From September 25th to October 25th, 1 JNT=0.2 USD, raising 321w USD.
Official website: https://jibrel.network/
How to buy JNT?
Jibrel Network is composed of CryDRs cryptographic depository receipts, J cash, JNT and other concepts. Below I will explain these concepts in detail.
JNT: JNT is the handling fee for various certificates and virtual currency exchange in the Jibrel network. In addition, any securitized assets outside the blockchain can be valued through the token JNT. Transferring CryDRs also requires a small amount of JNT as a transaction fee.
CryDRs: Cryptographic depository receipts (CryDRs) are smart contracts that represent the value of real-world assets. Users can use Jibrel Network Tokens (JNT) to purchase CryDRs with asset value, where CryDRs can be legal tender, commodities, bonds, or even securities. Ownership of CryDRs can be transferred to individuals or organizations, which can redeem certificates based on their value in Jibrel DAO. CryDRs has built-in smart rules, and all transactions meet KYC/AML standards.
J Cash: refers to the first batch of fiat currency CryDRs supported by Jibrel, including US dollars, British pounds, euros, Russian rubles, UAE dirhams and RMB.
JDB: JDB will receive/hold assets on behalf of owners of traditional assets and issue corresponding CryDRs. Transfer to the owner's wallet immediately afterwards. After the certificate is redeemed, the certificate will be destroyed and its underlying assets will be transferred to the certificate holder. Although JDB aims to be completely decentralized, the large-scale elements of the system must still be located outside the blockchain before traditional financial institutions are fully integrated on the blockchain. Activities outside the blockchain require the input and supervision of local and international regulatory agencies.
The role of Jibrel Network Credentials (JNT)
One of Jibrel Network's key business requirements is that all CryDRs must be tied to a certain basic asset. In order to achieve this, assets outside the blockchain must first be securitized, which is why virtual currency exchange is needed. In addition to transactions with the network, it is also necessary to facilitate the payment of fees outside the blockchain.
Existing currencies such as Bitcoin (BTC) and Ethereum (ETH) are not suitable because the price fluctuations of these currencies have nothing to do with the utility in the Jibrel Network. This disconnect brings market and credit risks. In addition, Jibrel Network aims to provide an exclusive blockchain in the future, and exclusive certificates are required to facilitate a smooth migration process.
CryDR itself is not suitable for this solution because it must always be tied to actual assets. The use of CryDR in the payment process will cause another disconnection and cause system imbalance. Jibrel Network Certificate (JNT) will be used as the "fuel" or "Gas" of the network.
JNT will grant universal access to all functions provided by Jibrel Network and related Jibrel DApps. JNT will ensure that all CryDRs are always tied to individual basic assets, adding an extra layer of compliance.
Project team
The team is composed of people who have worked in the financial industry and the blockchain industry for many years. Special emphasis should be placed on the consultant team. People who often read my articles should know the following old man-Don Topscott: Global Blockchain Opinion Leader, "Blockchain Author of Revolution. Don Topscott receives a large number of blockchain white papers every day for him to be a consultant. If it is not a particularly reliable project, he will not easily stand on the platform. At the same time, the team has a good cooperative relationship with the UAE government. JNT will be the first to be put into use in Dubai.