Qubist Labs Inc. is a New York-based company focused on blockchain development. The team behind Jibrel Network has experience with financial services, smart contract development, and blockchain development. We launched our alpha on ropsten (ethereum test net) towards the end of May and completed the complementary front-end development in June. This alpha was a simple react front-end that relied on MetaMask for a connection to our smart contracts deployed on ropsten.
Because of the nature of the tokens within the Jibrel Network, it does provide users with stable coins, each of which represents a real-world value while remaining within the Ethereum blockchain. You can use the Jibrel DAO, the Jibrel Decentral Bank, to exchange volatile cryptocurrencies, such as BTC or ETH, for stable tokens, such as the various jCash. At any time in the future, you can exchange the stable jCash tokens for their underlying value, no matter the price of BTC or ETH at that time. This will be especially appealing for those who see the writing on the wall in terms of regulation in crypto markets.
As a result, users may gain access to a blockchain-based ecosystem providing a secure way of transferring physical assets through the use of a digital currency. Additionally, we can see that this platform is designed to make asset storage as well as local currency conversions easier. In a nutshell, users can simply transfer their digital assets to the Jibrel platform without having to trade them first. In Q1 of 2018, the Jibrel Network releases its dedicated CryDR block explorer that will allow users to track CryDRs in more detail on the network.
The second reason is that most digital currencies are completely decentralized and have nothing that backs them or makes them legal in countries around the world. This can cause issues with large investment funds when it comes to regulations. Much has been made of all the ways blockchain and cryptocurrencies can potentially displace existing infrastructure. For all https://cryptolisting.org/ the ways it can’t—and there are many—Jibrel is leading the way in integrating the cutting edge technology with traditional assets, laying the foundation for blockchain implementations on a global scale. While still in its infancy, the Jibrel Network is already offering the market a unique platform that will digitize various assets by placing them on the blockchain.
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.
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.
SLICE token holders govern the Tranche platform, treasury and eco-system. The token aims to codify the alignment of incentives between token holders, development team, community members and the platform users (borrowers, lenders, creators and 3rd parties). Users can submit Tranche Improvement Proposals (TRIPs) to suggest any changes to the protocol. Lastly, Jibrel allows decentralized organizations and funds to diversify into traditional assets.
The main function of the jibrel network token is purchasing and redeeming CryDRs. It also allows for transactions involving value exchanges of securitized off-chain assets. JCash will be Jibrel Network’s first rollout of its currencies for CryDR. In the future, Jibrel hopes to offer a much wider range of commodities, currencies, derivatives, and securities. Jibrel completed an Angel Round through a “Simple Agreement for Future Tokens”.
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.
This all may sound understandable enough, but ensuring that this is a practical solution for users across many different verticals requires a self-regulating receipt-based system. For that, Jibrel is also rolling out CryptoDepository Receipts, (CryDRs). These are tokens that represent a traditional financial asset’s value, which will be denominated in Jibrel Network Token (JNT).
These are individuals or other entities that aim Jibrel to hedge against volatility by obtaining stable tokens. These are licensed financial entities that aim to use Jibrel technology to deliver cost efficiencies and generate an on-chain transactional profit. Three provided by Jibrel Strategic Partners, and three provided by the Jibrel Network infrastructure / Jibrel DAO. The Limited Alpha version of the network went live on Ropsten in May 2017. In September of that year, it had the presale for the Jibrel Network Token. November 2017 saw the release of the jWallet with an open-source license, the public sale, and the launch of jCash.
In line with our continuous efforts to move towards decentralized governance for token holders, Jibrel Network Token (JNT) will be replaced by Tranche Token (SLICE). Importantly, the Jibrel Network also makes use of guarantors to ensure that all of its tethered tokens remain stable in value. Jibrel makes use of a public blockchain, but company representatives indicated in the whitepaper that they will adopt a cross-chain communication module if such technology becomes scalable in the near future. From a functional standpoint, Jibrel has the potential to solve some of the major problems that are currently being faced by financial trading companies built on the blockchain.