Jibrel Network (JNT) Review – ICO Token News
Jibrel Network: Facilitating Digitization, Listing and Trading of Traditional Assets
Jibrel Network is one of the earliest Blockchain-technology startups. With its very inception and establishment, the company aims to “tokenize everything” by offering equities, currencies, commodities, and other financial instruments as well as assets in the form of ERC20-compliant tokens on the Ethereum blockchain.
Using this decentralized system, the end-users can make hassle-free depositing of their cash, money market instruments or even generate their own Crypto Depository Receipts (CryDRs) and at the same time take advantage of the on-chain/off-chain arbitrage.
How different is Jibrel Network from other Trading Companies?
Jibrel Network functions quite like other trading companies. You can store, send and receive value in your local currencies with near-zero fees. Besides, similar to other trading companies, the jibrel platform is also based and built on the blockchain technology. And ever since Jibrel has brought the financial instruments on this advanced technology, it also seems to have tightened its belt to solve problems like slow transferring time and high fees.
Moreover, you don’t need to do trading of any digital assets on the Jibrel Network platform. You can make use of this platform for transferring fiat currencies also, which is comparatively more affordable.
Last but not the least; this easy-to-use platform also allows the decentralized organizations and funds to diversify into traditional assets. The latter can also make hassle-free and trouble-free purchases of asset-driven CryDRs.
So, this is what defines, determines and differentiates the Jibrel Network from other Trading Companies.
Why Jibrel Network?
The first and foremost, Jibrel is the first protocol company, which allows their end-users to put their traditional assets, such as bonds, currencies, and other financial instruments on the blockchain as Crypto Depository Receipts (CryDRs).
Moreover, Jibrel’s CryDRs come in-built with real-world rules and smart regulations. And the most important is that the regulations are translated into solidity code to determine that tokenized, decentralized financial assets remain adhered to the real world rules and regulations.
Now, in the further part of this article we will focus on what a JNT is and how different this JNT is from other ICOs.
What is JNT token?
Jibrel Network Token (JNT) is in fact the heart of the network, and when we say ‘heart’ we mean it works as ‘gas’ and ‘fuel’ of this easy-to-use platform.
JNT also further ascertains that all CryDRs always remain stuck to their respective underlying assets, and add an extra layer of compliance. Though non-fiat portals do make a charge of the offline fees in fiat currencies, the JDB’s on chain commissions and fees is imposed in terms of Jibrel Network Token (JNT). JNT is said to be listed on ERC20 compatible exchanges.
How different is JNT from other rivals?
Say goodbye to other intermediaries, clearing/ settlement offices, and middle-man service vendors!
Let’s face it; ever since Bitcoin has been introduced, blockchains, a revolutionary technology, have brought about a remarkable value. This new and advanced technology enables verifying and committing transactions in an immutable decentralized ledger, or makes a widened implementation to obtain decentralized consensus.
It is noted that this incredibly-innovated technology has almost transformed the arena of transactions, meaning you don’t now need any trusted intermediaries, clearing/ settlement offices, and middle-man service vendors.
That apart, as a result of inadequate adoption at an institutional level, a large number of crypto-economy goes siloed by use-case or geography. Plus, the bottlenecks that these siloes impose cause widespread systematic risks in terms of limitations and challenges when it comes to converting between digital assets and traditional assets.
After knowing and understanding about the JNT and how much it differs from other ICOs, let’s now talk about its unique features. In the article ahead, we have covered some of the unique features of JNT that will surely appeal you when it comes to comparing them with other ICOs available in the market today.
Jibrel Network (JNT) Unique Features
Some of the major specifications that make Jibrel Network (JNT) stand apart from other ICOs are as follows:
- Jibrel Network uses Ethereum Blockchain – This means that you can easily transfer assets from one person to another without any hassle, for; this is touted to be the most protected and lighting fast, making all your transferring activities as simple as that.
- Trade anything with everything – This network allows you to trade anything with everything, meaning that that you are free to do trading of stocks of cryptocurrencies or bonds for stocks since Jibrel Network offers support to the trading of cryptocurrencies through other financial instruments.
- Menial Transferring Fees – This means that if you are transferring traditional and digital assets over Ethereum blockchain, the transaction fees will be zero-fees.
- Real-assets-backed CryDRs – All the CryDRs will come supported with real assets and for every occurred transaction, a ticket will be generated, and that newly-formed ticket will be known as ‘Tethered’ and when the transaction is complete, the ticket will get automatically dissolved.
- jCash, a new introduction by JNT network — This is what will add zing to the features of JNT. The Network is soon going to bring to shelves jCash, which will be representing the fiat currencies as EUR, USD, AUD, GBP and a lot more. With the introduction of this features, a user can make easy and smooth trading as well as convert the fiat currencies into jCash and later make transferring of those currencies to other persons in jCash through Blockchain.
How does Jibrel Network Function?
Here are some of the core features and functionalities of the Jibrel Network:
- Public Blockchain: The early versions of jibrel require public blockchain until there is feasibility of full cross-chain communication. Though you can rely on other blockchain, you may have to face a long-list of new limitations and challenges that are hard to find on Jibrel.
- Cryptocurrency Exchanges: the Jibrel Network lets its end-users exchange cryptocurrencies for asset-backed funds or fiat currencies. No matter what you are trading, the Jibrel Network platform allows you to make easy and hassle-free conversion between crypto and fiat.
- Tethered Tokens: All asset-backed tokens available on the Jibrel Network come backed by real assets. A tethered is minted for every traditional asset held. If that particular asset is purchased by someone, the tethered token is finished.
- Guarantor: There is need of guarantors to ascertain tethered tokens continue to maintain their value.
- Application Layer, Libraries, and Templates: Once a tethered token is built, developers are free to develop and build applications that will be leveraging those tethered tokens. Applications may also come incorporated with payment processors, trading platforms and wallets.
- Fees and Charges: When it comes to Jibrel’s charges and fees, this is what the Jibrel Network whitepaper says: “Transferring ownership of both digital and traditional assets have associated fees and charges that will need to be accounted.”
Now that we have learnt a lot about Jibrel and its JNT tokens, its unique features, let’s now read who its competitors are, and how Jibrel is carving a niche among or along with its competitors.
Who are Jibrel’s Competitors?
Though an early startup built on this new and advance technology, the company too has its competitors like LAToken(LAT) and Blackmoon Crypto (BMC), which also claim to tokenize of asset space. Both the competitors of Jibrel are at present in their development stages; therefore it will be too soon doing its evaluation or comparison with others.
On the other hand, in the remittance space, Everex and OmiseGO raise their heads as its main competitors. However, the only difference between the Jibrel Network and these two competitors is that the former is at present widening its wings in the remittance sector in the Middle East, whilst Everex and OmiseGo seem to be more focused around the South East Asian countries.
Key reasons to build the Jibrel Network
There are quite a lot of benefits in having traditional assets on-chain across numerous use-cases. But one use-case holds utmost importance to the decentralized web.
Stable Tokens / Crypto-hedging
Ever since Initial Coin Offerings, that is ICOs, have gained momentum in the market, a huge portion of ETH (and BTC) has been locked in escrow with milestones. This means that an organization that raises funds when the market is high, will later find its funding slashed within a short span of time, owing to market volatility.
For example; a company raises USD 20 million via ICO @ ETH price $800.00 (or BTC @ $6000), may discover its funding coming down to USD 10 mn in case ETH (or BTC) had to come down up to 50 percent.
Likewise, a decentralized fund, completely functioning on-chain, has to come across the punches, encounter the fluctuating market and maintain a clearly long position.
The Jibrel Network allows these funds to offer for sale their digital assets at higher price and do their replacement with stable money market tokens (on-chain), deploy their capital again into digital assets while the market is down.
In addition, the decentralized organizations are also free to do seize their funding in smart contracts, instead of volatile currencies. But when it comes to stable money market instruments, the users will start getting extra returns from time to time. Thus, when you ensure your funding with JNT, it’s not just safe, but continues to grow, as well.
However, there still exists one fear, and that is when there is any major swing in the market – most probably between 60–70 percent. This significant fluctuation may even the crypto-startups into insolvency, especially when their funding comes down such as a level which is lower than their commitments.
As a result, this might signify that critically-established Web 3.0 infrastructure has come under the risk of not being built-out. This may also imply that several other interesting projects could also come under danger-zone.
Finally, it can be said that in order to ascertaining ever-growing progress of Web 3.0, it is critical to hold stable digital assets that are connected to the traditional economy.
JNT Tokens & ICO Crowd Sale
- JNT tokens are essentially the incorporated currency in exchange of which are bought the CryDRs, which are then sent to other people on Ethereum Blockchain. Rather than the highly volatile BTC or ETH, JNT exploits its own cryptocurrency to have control over the volatility in fiat CryDRs.
- JNT tokens are expected to be listed in all leading exchanges as soon as the ICO gets over.
- JNT public pre-ICO sale first of all was held on 25th September, 2015.
- JNT tokens at most claims to supply up to 200 million wherein merely 20 percent is to be put on offer in pre-ICO sale.
- Each JNT tokens, for pre-ICO sale, comes at a value of $0.20
Thus, comparatively, the Jibrel platform works wonders when it comes to quality of services. This is in fact a very unique concept, and offers higher value to the blockchain users.
As stated earlier that Jibrel Network came into existence with the aim of tokenizing debt instruments and their derivatives – thus streamlining the significant parts of retail investment and investment operations. This easy-to-use platform, in fact, facilitates the digitization, listing and trading of traditional assets, such as bonds, currencies and other financial tools, across blockchain.
In case, you want to know more about Jibrel and JNT tokens, you can visit Jibrel network official website, and even do a thorough reading of their Whitepaper.