Some details about Jibrel Network divided in 4 replies as it is quite long.
>What is the Jibrel Network? >The Jibrel Network provides currencies, equities, commodities and other financial assets and instruments as standard ERC-20 tokens on the Ethereum blockchain.
>What are CryDRs? >CryptoDepository Receipts or CryDRs are tokens representing a traditional financial asset’s value, denominated in Jibrel Network Token - JNT (e.g. a USD CryDR holds 1 dollar worth of JNT).
>What can CryDRs be used for? >Fiat CryDRs can be used for remittances, global payments, trading and hedging. CryDRs can also be used to create automated and decentralized financial instruments - such as bonds, commodities, debt instruments and securities.
>What is Smart Regulation? >CryDRs have smart regulation built in, real-world rules and regulations translated into solidity code and deployed on the ethereum blockchain. Ensuring that while decentralized, CryDRs always follow real world rules and regulations.
>What is jCash? >jCash is the first roll-out of currencies. USD, GBP, EUR, RUB, AED, CNY CryDRs will be made available.
>How can I purchase CryDRs? >CryDRs can be purchased from the Jibrel DAO using Jibrel Network Token (JNT).
there is already a thread. you are overshilling this you dumb fuck. fucking retards
How it works:
>"It boils down to this:
>What is the incentive for me to put my cash into a CryDR and sell it on the blockchain.
>You don't. This is generally for licensed financial institutions to benefit from the high-returns of the crypto-economy without the exposure.
>When the public has full confidence in tether, and the overall market is in downswing, USDT is valued at 1.03 and higher.
>We have a buzzphrase for this, "on-chain / off-chain arbitrage".
>This means stable assets on-chain could be worth more than they are off-chain, if there is confidence in the guarantor.
>So this is what the financial entity would do... It would tokenize some of its cash, exchange it for volatile assets (selling them on-chain for BTC/ ETH), liquidate those assets (the BTC / ETH), and benefit from the arbitrage.
>In addition, the financial entity has just acquired a customer with an account (compliantly, with full KYC done to the level of the financial institute).
>Hope that helps!"
So basically, I tokenize a non-liquid asset as a CryDR (real-estate, gold, etc), and a corresponding value of JNT must be taken out of circulation to provide proof of solvency. When people use CryDRs, the value of CryDRs increases. So if I have 1 billion dollars of gold tokenized into a CryDR, and a CryDR is worth $1.03, suddenly I've made a three percent increase on $1 billion, which is $30 million dollars I can now use as liquid capital.
Essentially, it gives liquidity to non-liquidity assets while also backing up the value of the CryDRs themselves.
There is no risk as the assets still remain assets tied to the market, the crypto component is just an extra way of extracting value from them.
>They have Don Tapscott as an advisor, the same guy who is an advisor for ICON, which went over 30x from ICO price.
>Token circulation is 150M which makes the marketcap below $85M (total supply is 200M, the rest are locked for 5 years between advisors, team, bounties and partners tokens), very small for such a big project.
>Royal family anounced they will provide backing for the jcash pilot from their 10 billion dollar fund, let's say Al Maktoum provides 5 bn dollars for the jcash pilot and they tokenize this amount, marketcap would jump by 5BN instantly.
Best exchange currently on bibox.com/exchange?coinPair=JNT_ETH (You can see the price reached 2 sats at some point in the graph, it is a bibox bug, you can reach them on telegram to confirm, order books froze during a 2 minute time frame, the site bugged. It is not that the price acually went that low), you can register even as an US citizen and no verification is required for up to 2 BTC withdrawals daily, like binance.
It is only 2.5x over ICO price, they are anouncing new partnerships in 2 weeks, also once it is listed on an exchange like Binance or kucoin in late february, you won't have time to buy it low ever again.
They are also doing their jcash pilot in a few weeks, when they do that, if they were to tokenize only $2bil dollars that would make JNT go over 10x in price. Remember, the price of JNT markets cap is total of tokenized assets (main) + speculative value people give it (less important) = total marketcap
im going to choose to ignore this like i did with eth back in the day and btc in '11
i cant possibly lose 3 times in a row, not being ironic
The jibrel network conference, don tapscott, the ceo of binance, the ceo of neo who were all in attendance at the convention in the pic.Oh and allow them to be sued by one of the richest families in the world, maybe the richest?Videos from that convention below too.
this overshilling made me not even look into this coin, honestly this is worse than LINK which became meme at this point
This is it @jibrel_network
1 day we shill 1 day we FUD
and deep in our hearts we hope, that you will never touch the coin and everyone else sells.
join our discord now
Dont really care if people from here want to buy or not. I just like making everyone aware that it exists and like pushing for a decent discussion on biz. So far these threads have been great for that.
I also like pissing off the idiots who have the "fud to accumulate", mentality. As if it mattered at all.
Shoot me a link
>says join our discord >doesn't post discord
I am erect
I think those who fud to accumulate should have accumulated already. I did that a bit a few days ago, but I’ve gotten to the amount I want to hold now.
This shit is going down...certainly not too late to buy more so you can lose more
JIBREL NEXT 10X COIN!
Going down? It's keeping its USD value, and the reason for that is probably the small exchanges it is on right now so prices are easily suppressed, not many people are selling and the ones who want to buy are probably waiting for a bigger and safer exchange, everyone who bought already put them in cold storage until it is $5 or $10 at least, or even higher than that.
This has been confirmed to be on kucoin by the end of February, not sure when it'll hit binance but once it reaches a good exchange that people don't mind putting their money on it'll go to at least $2. Current marketcap is just 80 million.
Also they are going to do key announcements by the end o this month as well.
I bought all of my stack at 0.00035 eth when everything was crashing because i knew the potential for this thing, i also participated in the ico and put 5 eth into that. Plus 45 eth when it was 0.00035 eth a few days ago.
And i'm not selling until it is at least $10-$20 however long that may take.
$10-20 is pocketchange compared to what this thing will be worth when it takes off
DAI ERC20 token is the true Tether replacement since it will always be $1 and nothing more or less, exchanges will are more likely to use DAI than JNT, since the price is guaranteed to not fluctuate. But JNT will be useful for other cases were you might need to tokenise and asset.
Jibrel will becomes an actual crypto bank where you will be able to cash in/out real money. DAI and others will survive, but JNT will be the real winner at the end
and what would that be?
I agree on this
You do realize Jnt itself is not the stable fiat pair correct? The fiat tethers aren't even out yet.
My dick is so ‘ard. Holding 100k
Do you even opened the Jibrel website before you posted in a JNT thread?
>What is the difference between jCash and JNT?
Disgusting, just disgusting
jCash will also be fixed on 1$ and jUSD will not have such a stupid name as DAI.. no exchange who takes them seriously will implement a tether replacement named DAI. it is not intuitive what is behind the asset, not very well understandable for the dummies, its just a shitty choice. sell your MakerDAO bags pls
Yeah you are right don't buy MakerDAO
Biz stop shilling I’m about to fomo and I don’t like to fomo pls stop pls
saved to jib meme folder
when will this hit 500 mill market cap?
15k hodler here,
this shit is either gonna become the biggest thing ever or eat shit and die, there's no case in which jibrel merely stagnates long term.
My plan as of now is to delete it off my blockfolio and just forget about it until jan 1st.
Yeah it either goes big bigly, or it completely fails. I see no in between for this project.
Jibrel will be huge. I guarantee it.
when you see big names supporting it, the likelihood of it failing is pretty god damn low