1. ICO Details
Website Link: https://www.jibrel.network
Country of origin: Switzerland (Zug)
Token price: 1 JNT = 0.25$ (pre-sale price was 0.20$)
Total supply: 200,000,000 JNT
September 2017: Jibrel Network Token (JNT) Pre-sale → 20,000,000 JNT*
November 27, 2017: Public token sale → 120,000,000 JNT**
Accepted currencies: BTC, ETH
*Jibrel Network raised 3,219,299$ in their pre-sale which means they sold 19,985,202.57 out of 20M tokens.
**The rest of the tokens (60,000,000 JNT) are reserved to 15% for the Team (30,000,000 JNT), 10% for advisors and partners (20,000,000 JNT) and 5% (10,000,000 JNT) for a bounty-program.
All other coins which are not sold in the main sale starting on November 27, 2017 will be locked in the Jibrel DAO.
2. Project overview
2.1 What is the ICO/project about?
According to their Whitepaper “the jibrel network aims to facilitate the digitization , listing and trading of traditional assets such as currencies, bonds, and other financial instruments [e.g commodities, securities & potentially real estate] on the blockchain”. Ultimately, it aims to allow anyone to tokenize real world assets.
2.2 What problems is Jibrel network trying to solve?
Despite the tremendous opportunities the blockchain provides the traditional economy and the crypto economy remain disconnected. This results in the following problems:
- The “frictionless” benefits of transferring value over the blockchain hasn’t been brought to the traditional currencies. Users still incur high fees and face time delays as they still rely on traditional modes of transfer. An excellent example here is the Remittances market (valued at over $400 Billion yearly) where users would benefit from transferring non-crypto currencies with all the advantages that the blockchain may offer.
- Organizations using ICOs and crypto investors have limited options to diversify into traditional holdings / investment vehicles. It is important to bear in mind that organizations raising money pledge transparency – as spending is viewable on the blockchain. If taken off-chain, funders would have no means to confirm whether funds are being allocated accordingly.
- There is systemic risk involved in the crypto economy now given the lack of regulations, extreme volatility, and security concerns. Risks are compounded by the multi-faceted use of cryptocurrencies.
2.3 Who are Jibrel Network’s Users?
The Jibrel Network therefore will have the following groups users:
- Non-Investment Users: Those who seek to benefit from the frictionless transfer of value on the blockchain (e.g remittances)
- Traditional Investors: Those who seek to diversify into crypto-investment
- Crypto Investors & Decentralized Organizations: Those who seek to diversify into traditional investment vehicles.
2.4 How does it work?
Crypto depository receipts
The most crucial component to making this successful is the “Crypto depository receipts (CryDr)”. They are the tethered tokens that represent ownership of an underlying asset and are denoted as JAsset.
- Currencies/Fiat: Initially USD, EUR, CNY, GBP, RUB, AED
- Money Market Instruments: Examples include low yield assets such US Treasury Bills & Zero-Coupon Certificates
CryDrs have smart regulation built in to them. That is, real world rules and regulations translated into solidity code and deployed on the Ethereum blockchain.
Jibrel Decentral Bank
This receives & holds traditional assets on behalf of their owners and issues CryDr.
Portals dedicated to converting assets into on-chain assets
- Digital Portals for Fiat Currencies
- Off-Chain portals for all other assets
2.5 What is the Token Used for?
Jibrel Network Token (JNT) will be used to access the features provided by the Jebrel Network, acting as the ‘fuel’ of the network. It is the currency used to interact with the Jibrel DAO & the “Jibrel Decentral Bank”.
- Users exchange JNT for jAssets
- It is consumed in the network as ‘gas’
3. Team & Advisors
This team has a unique blend of skills and experience, that spans the financial services sector and blockchain/software development. Across them they have worked with top names in the Financial Services Industry & Management Consulting such as: PWC, EY, Deloitte, and Oliver Wyman. They also have a strong technical team, with their technical lead having worked on crypto-related projects since 2013 and previously ran a top-3 altcoin mining pool (pool.mn).
Equally important is their top-tier advisory team with expertise that spans both the blockchain & financial industry sectors. The advisory team includes Don Tapscott who is considered as one of the world’s leading experts on the Blockchain and is the author of “The Blockchain Revolution”.
4. Media and community activity
Media: Broad media coverage on major platforms like Cointelegraph, Forbes, Huffingtonpost, Nasdaq.com which shows the interest of the mainstream when it comes to the vision and technology of the Jibrel Network project
- https://www.forbes.com/sites/cbovaird/2017/09/13/cryptocurrency-5-ways-to-profit-from-a-market-crash/#6e656e43494b (Quote of Yazan Barghuthi)
- https://www.huffingtonpost.com/entry/how-smart-regulation-could-help-institutional-blockchain_us_5996982be4b033e0fbdec2f1 (Mention of Jibrel Network)
- http://www.nasdaq.com/article/crypto-trading-and-traditional-assets-new-options-for-investors-cm879469 (Mention of Jibrel Network)
When you keep in mind that we are still in an early ICO-phase you can imagine that there will be even much more major-media coverages in the next time. With the last rise of Bitcoin (BTC) the mass-media will be tempted to look for models like Jibrel Network who are connecting the cryptocurrency/blockchain space with the “traditional economy”.
Community: Jibrel Network is on a great path to build up a decent community around their upcoming ICO. They are aware of different important channels to promote their vision and to talk about their plans in detail. They answer all questions posed to them on social media professionally and in detail. The small member counts are in fact not so important at this point. They are pretty active and sharing e.g. updates on a regular basis that’s a great sign when you look for promising ICO’s.
|Telegram||https://t.me/jibrelnetwork||~350 in active discussion group|
5. What we like?
This is a professionally run project with an excellent team that has the relevant experience necessary for a network that aims to deal with Institutional Investors ultimately. Jibrel network leverages the blockchain to the benefit of the traditional economy, as well as allows crypto investors to diversify into traditional investments in a transparent mode.
It is also worth noting that according to their Telegram Group they are working on obtaining a banking license by one of their DFSA regulated angel investors.
Blockchain Projects that deal with the Tokenization of Financial Assets such as: PolyMath, LA Token, Proof Suite, Blackmoon Crypto.
This is certainly one of the most ambitious Crypto projects currently and Jibrel Networks vision is a difficult one to achieve. The difficulty of their vision is matched with it’s importance if the Jibrel Team succeeds. If they succeed, we expect that there will be demand for JNT because:
- Jibrel Network is working to create infrastructure such as wallets and block explorers that are user friendly and appealing
- Jibrel Network allows crypto investors to diversify into stable assets on-chain
- Ability to utilize the functionalities of the ethereum Blockchain without using volatile crypto (eg. B2B Ecommerce)
If there is any concern with Jibrel Network it’s that they may have set out to do too much. But, with a team and a group of advisors of that calibre you wouldn’t expect anything less.