Some of the core issues that Jibrel addresses are those of high transaction fees as well as slow transfer times. And the pre-sale of tokens before the official ICO is gaining traction, as well. Basically, a pre-sale allows for investors to get in on the ground floor of a token sale at typically better rates than the main ICO. The Jibrel Network is one such startup to use the growing popularity of pre-sales to garner over $3 million in sales for the purchase of over 19 million of the Jibrel Network token, JNT.

For a refresher on smart contracts, take a look at this piece in Motherboard. “Blockchains are a database, a new way of storing data in a particular contract,”Barghuthi said. “Smart contracts are a way to execute certain commands in a decentralized way, and be able to remove trusted intermediaries, or middlemen, from the equation.” To create this contract, the Partner pledges value in the form of JNT, by locking the JNT in a smart contract. An additional buffer is required to account for price movement in JNT, as well as the price of the asset the contract is denoted in (in this case, USD). The Jibrel Network chose to create a dedicated token like JNT instead of relying on ETH or BTC because of their extreme volatility.

1. We call the tokenized version of a real world asset or instrument a “CryptoDepository Receipt” or “CryDR” for short.
2. “All transfers on jCash are always AML KYC compliant,”Barghuthi said.
3. Shiraz is a cryptocurrency journalist and analyst living in Melbourne, Australia.
4. In Q4, it will launch the Jibrel DAO and the network will begin its full decentralization, known as Project Pinocchio.

What this means is that for every tethered token that is created, there is a traditional asset held to back it up. Jibrel Network provides currencies, equities, commodities and other financial assets and money instruments as standard ERC-20 tokens on the Ethereum blockchain. In the medium to long-term, Jibrel will focus on tokenizing debt instruments and their derivatives, thereby streamlining large portions of retail investment and investment banking operations. Ever since the launch of Bitcoin back in 2009, blockchain technology has started to transform various aspects of our everyday lives. Through the use of this technology, we are able to streamline transactions in a completely decentralized way, thereby allowing for maximum transparency.

What Does the Jibrel Network Roadmap Look Like?

To round out this system, Jibrel needed to create a system for these assets to transfer among currencies easily, as well as a safe place to store the sensitive information. Barghuthi sees this as the optimal way to future-proof Jibrel as blockchain moves from a hyped technology to one that is just the functional backbone of existing systems. Previous architectures have been superseded by the latest developments in our Github repositories and it is likely that the architecture outlined in this post (and in our repositories) will continue to evolve and change over time.

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In addition, native Jibrel tokens can also be employed for use with decentralized financial instruments such as bonds and securities. Jibrel Network (JNT) – Traditional financial assets on the Ethereum blockchain. “For companies looking to incorporate blockchain technology in their operating models, integration can be a challenge.

I.e. A licensed broker will be able to send treasury bill tokens to buyers, but the buyers will only be able to send it back to the broker (no other wallets) — as they are not licensed to resell the treasury bill. We demonstrated how the treasury bill could be held by a specific set of users, and could only be sold by a subsect of those users. With our first public token release scheduled for September 25th, we thought it was important to update the community on the progress to date, as well as the overall direction of the network. Since JNT is a CryptoDepository Receipt (CryDR) in itself, with “Smart Regulation”, the contract itself must be read to check balances.

The Jibrel Network is designed to help turn digital assets such as currencies and equities into ERC20-compliant tokens. Basically, makes cryptocurrency an investment vehicle that serious, “real-world” investors can invest in confidently. With crypto, there is a lot of potential, but also plenty of red flags that keep traditional investment funds from putting billions of dollars into these new decentralized currencies. It can fluctuate to the extremes and this can make investing the big bucks not only intense but possibly irresponsible.

The Jibrel wallet is named jWallet and is available now for anyone to use at the official website. You are able to use it to create an address to send or receive JNT tokens. You can also store ETH, BNT, GNT, KNC, OMG and REP tokens in the wallet. In addition, certain standards have not been defined for Ethereum / ERC20, so the team built out the necessary components https://cryptolisting.org/ and standards and submitted them on relevant Ethereum Improvement Proposals (EIPs). With no robust Ethereum wallets available, with numerous hacks in the last few weeks alone, the team sought out to build its own. In parallel to back-end development, the front-end team has been busy refreshing all the Jibrel’s look and feel, as well as developing the Jwallet.

The remaining tokens will be sold during full network launch on November 27th at a price of US$0.25. In the event of a crash in the traditional economy, the Jibrel AG Fund will maintain a sufficiently diverse and robust off-chain portfolio (e.g. US Treasury Bills, CDs, etc.) and increase its digital asset holdings (on-chain). A dedicated token is needed to power Jibrel in order to establish equilibrium / duality in the system. Jibrel maintains an off-chain portfolio of assets and the Jibrel Network Token is used as a medium between on-chain and off-chain value. In the future, Users will be able to exchange JNT for a wide range of assets. Jibrel is gradually building the infrastructure to automate the consumer banking funnel.

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So, if you own $50 USD in gold, a USD CryDR will hold $50 worth of JNT. “A huge benefit of smart contracts that people don’t touch on enough is how it removes subjectivity,” Barghuthi said. “And you can imagine why that would be something incredibly useful with some of the bloated processes or bureaucratic processes in financial services.” As the token appears on exchanges across geographies, jibrel network token (JNT) will be able to deliver its utility and the team will be able to undertake pilot programs.

Introducing SLICE, a decentralized governance token, specific to the Tranche ecosystem.

This section outlines the set-up required for each participant to achieve their objectives on the Jibrel Network. In the examples above, we examined what happens with volatility in Jibrel Network Token. But safeguards need to also be put in place to protect against volatility in the crypto and traditional economies. Jibrel Network Token is the virtual exchange currency of Jibrel and the currency used to interact with the Jibrel DAO.

Jcash Pilot Program & Commercial Roll-out

Shiraz is a cryptocurrency journalist and analyst living in Melbourne, Australia. When not exploring the emerging blockchain ecosystem, he loves to play the blues and dabble in the world of meditation. Since its inception in May 2017, the Jibrel Network has caught the attention of many blockchain enthusiasts around the globe. The project is currently headed by Yazan Barghuthi, who is also its co-founder.

Jibrel is engaged with New Alchemy for Security Audits and PwC for financial audits. In addition, we have formed a strategic agreement with Arabian Chain to bring smart regulation to MENA markets, as well as TaaS fund to provide smart tokens (CryDRs). Our token sale gives users the opportunity to purchase Jibrel Network Tokens (JNT) which power the underlying mechanics of the network. To leverage blockchain technology and cryptography to fully automate and decentralize consumer / retail banking (and respective investment banking activities).

According to his LinkedIn profile, Yazan has been in the financial sector for nearly a decade, and previously worked at management consultancies such as Oliver Wyman and Deloitte. Each of these sites featured an Ethereum address that was owned by the scammers. That unwitting investors would buy what they thought were JNT tokens, allowing them to make off with the funds and take that investment away from Jibrel. We imagine many of the participants of our token sale are eager to get their hands on their Jibrel Network Token (JNT). “We actually sat down and analyzed how all these wallets were built, and we’ve come to so many steps where we’re like, ‘Why did they build it like this?'”Barghuthi said.

After providing liquidity on Uniswap, users can lock their SLICE-LP(from Uniswap) tokens on Tranche to earn additional SLICE rewards. SLICE tokens that are used for rewards are not minted by inflation, rather, they are bought from any fees generated by the Tranche Protocol. Additionally, users can simply stake SLICE directly through Tranche .