Jibrel Network (JNT)
Jibrel network is a cryptocurrency platform that plans to tokenize everything by providing equities, commodities, currencies and other financial assets as an ERC20 complaint token. The network is based on the Ethereum blockchain and lull the assets it provides are listed as CryDRs or CrytpDepository receipts. The CryDRs are used for transactions on the Network. Jibrel uses JNT a utility token of the platform. Users can use CryDRs from trading, remittances, hedging and global payments. The CryDRs can also be used to create decentralized financial instruments like debt instruments, commodities, and securities.
Problems that Jibrel plans to solve
The financial trading companies face multiple issues that Jibrel seek to address. Jibrel is bringing financial instruments to the blockchain and aims to use it to address issues like slow transfer and high fees in transaction and processes. Jibrel also wants to help users store, send and receive venue in the easiest way possible and with near-zero fees. Users don’t need to trade digital assets on the Jibrel network platform, but they can use the platform to transfer fiat currencies in an affordable way. Another problem that Jibrel seeks to address is to allow decentralized organizations and funds be diversified into traditional assets
Who is behind the Jibrel network?
The Jibrel Network is a product of Jibrel AG- Quist Labs initiative. The team behind the network have deep knowledge of financial services and the blockchain and smart contract development. The team is led by Yazan Barghuthi who is the co-founder and technical lead. Other people who confounded the platform include Talla Tabbaa and Victor Mexrin. Talla is also the BizDev lead.
Jibrel Token sale
Jibrel uses the JNT token to purchase tethered assets through the Jibrel platform. Jibrel pre-sale in ongoing and it will end on October 25, 2017. The JNT tokens will be $0.25 during the network launch on November 27, 2017. A total of 2000 million JNTs will be available. 10% of the tokens sold during the angel round, 20% during the public presale and 40% will be reversed for the network launch. 10% will go to advisors and partners, 15% for the team and 5% to bounties.
The Jibrel Network aims at digitizing assets by placing all of them on the blockchain. The network has a system where tethered assets are linked to physical assets. Jibrel facilitates secure transfer of financial instrument or physical assets through the digital token use.