[ANN] Jibrel Network | Traditional financial assets on-chain

[Xantrax]

Did the team ever explain what was so wrong with existing solutions that pushed them to develop jNode?

[Brilliantrocket]

I think are selling because the hype has been deflated due to the split between jcash and jbonds.

[Virtuoso]

I think Jwallet should be released any day now according to the medium post. I'm looking forward to seeing it

[dazbarlby]

Jnt's price is really low, it should be more than this price now, Which exchange does jnt want to go to?

[jibrelnetwork]

Hi there, some clarifications below - please feel free to join the discussion on telegram if you'd like questions answered directly.

Did the team ever explain what was so wrong with existing solutions that pushed them to develop jNode?

Generally, the API calls provided by Infura are quite limiting. So we powered our jProducts with our own nodes.

We then needed to build node management tools as ETH nodes go down frequently. With this solution in place, we decided to offer it publicly, leveraging JNT as well.

I think Jwallet should be released any day now according to the medium post. I'm looking forward to seeing it

We're working hard towards this and will hopefully deliver as planned.
We've experienced a few bottlenecks (primarily front-end development) with all our devs working hard towards a jCash open alpha.

What is proof of solvency? in simple lay man terms? too many new terms in crypto, proof of stake/work/authority,etc..

Proof of Solvency is just a bidding / staking mechanism to facilitate the trading of traditional assets on-chain.

All banks are required to maintain a capital adequacy requirement, to ensure any liabilities are sufficiently backed.

For crypto-fiat, we use JNT in smart contracts to prove that the system is solvent against CryDR liabilities. So if there is 10 jUSD represented, we hold the equivalent value in JNT for immediate redemption (i.e. a user can send 1 jUSD and receive the equivalent in JNT and liquidate that). As long as the DAO is holding more value (in JNT) than it has committed in liabilities (CryDRs), users can trust that the system is sufficiently solvent, should all users decide to redeem their CryDRs at once.

In addition, in certain transactions, an escrow is used to facilitate the transaction.
E.g. If I want to sell a house, I may use a third party escrow agent to facilitate the transaction.

So if you tokenize an asset, you need to put the equivalent value in JNT locked in a smart contract, as long as the underlying asset is still in your name. Once the asset has cleared (i.e. transferred to the new user), the JNT can be redeemed.

This is to prevent people from selling token representations of off-chain assets, and then exiting their positions off-chain.
i.e. selling the house, while the other user only holds a token, and no capital markets / real estate / other regulator has adopted a tokenized ownership system.


Hope that helps clear some things up!

[jibrelnetwork]

We've just released an AMA with Jibrel co-founders, Yazan & Talal, you can watch it here!



Get in touch and let us know you're feedback - we're much more responsive and active on Telegram and Slack.

[cr1pto]

We've just released an AMA with Jibrel co-founders, Yazan & Talal, you can watch it here!

https://i.imgur.com/3k0h1MI.png

Get in touch and let us know you're feedback - we're much more responsive and active on Telegram and Slack.

That was a good AMA, can't wait for another one.
AMAs can really increase the number of people that are interested in the project

[DeViL303]

jCash, jBonds and Proof of Solvency

Understanding the Proof of Solvency mechanism
As outlined in the previous post here, the pilot results have indicated revision to the token architecture and mechanics of jCash and other jAssets will be required to ensure the system can be decentralized in the future.

This post will clarify the details of this change, and network users can rest assured that there are minor deviations from the original vision outlined in our white paper. In addition, this post outlines the different CryptoDepository Receipts (CryDRs) on the Jibrel Network, what they represent, and how they work.

https://medium.com/@jibrelnetwork/jcash-jbonds-and-proof-of-solvency-3b655444cf3f

[DavidXXXX]

Project looks good but will it be listed on cmc?

[Neuthor]

Project looks good but will it be listed on cmc?

It’s already listed on cmc:
https://coinmarketcap.com/currencies/jibrel-network/

[Ale75Opus]

In principle, Jibrel Network seeks to solve the same problems as other financial trading companies built on the block. By attracting financial instruments to the block chain, the platform seeks to solve such problems as high pay and a slow transfer time.

[cr1pto]

Project looks good but will it be listed on cmc?

It’s already listed on cmc:
https://coinmarketcap.com/currencies/jibrel-network/

And its been listed for months already.
Don't know why people ask that, when they can just enter Jibrel in the search field in CMC

[vuhoang1giang]

when customer can using JNT token to hold their fund by Jcash ?

[Neuthor]

when customer can using JNT token to hold their fund by Jcash ?

Unfortunately, I can’t give you an accurate date but I can tell you that they’re working hard to launch the jCash Alpha as soon as possible. At first it’ll only be available in selected jurisdictions and you’ll have to go through KCY/AML checks in order to obtain access to jCash. Because of this, Jibrel has recently partnered with Lexpert Partners to use their AML services.

[TOM47]

Jibrel is Licensed as Financial Intermediary by VQF

The Jibrel Network provides traditional financial assets, such as currencies, bonds, and equities, as standard ERC-20 tokens on the Ethereum blockchain. https://www.nasdaq.com/press-release/jibrel-is-licensed-as-financial-intermediary-by-vqf-20180522-00305

[dazbarlby]

this is extra money, then, you might want to make a "long-term" investment in the movement to "tokenize everything" ... a movement that'll soon enough turn into a revolution of which JIBREL NETWORK will most certainly be a respected player …

[S3cco]

Bitcoin Garden: Swiss VQF Licenses Jibrel as Financial Intermediary
https://bitcoingarden.org/swiss-vqf-licenses-jibrel-as-financial-intermediary/

Jibrel AG is now an official member of the Association for the Quality Assurance of Financial Services (VQF), which confirms its status as a licensed financial intermediary in the Swiss parabanking sector. VQF is the oldest and largest cross-industry Self-Regulatory Organization (SRO) to meet the criteria set forth by the Financial Services Standards Association (FINMA).

These organizations are put in place to ensure that due diligence requirements are met by its members, providing financial intermediaries an efficient alternative to a more bureaucratic supervision by FINMA. Members of the VQF organization, such as Jibrel, are certified to maintain strict compliance with the Anti-Money Laundering Act in Switzerland.

Accordingly, Jibrel AG partnered with Lexpert Partners to ensure its services stay in line with VQF requirements while its Jibrel Network continues to grow as a platform. As the AML partner, the fellow Zug-based firm will act as an officer to all initial and subsequent Know Your Customer (KYC) and Anti-Money Laundering (AML) duties on the Network....

[Brilliantrocket]

The Jibrel Network provides traditional financial assets, such as currencies, bonds, commodities and securities, as standard ERC-20 tokens on the Ethereum blockchain.

[btcrich2020]

The Jibrel Network provides traditional financial assets, such as currencies, bonds, commodities and securities, as standard ERC-20 tokens on the Ethereum blockchain.

Jibrel Network is completely another platform that proves and manages different types activities will performed and implemented in block chain. Yes, jibrel network is an another ERC20 token implemented in ETH blockchain.

[birdonthewire]

good morning

Can someone explain to me how to find the operational wallet? Because apparently, it is not yet, only in the trial period (and it was announced for the use of the community almost EIGHT MONTHS ago!)


Next, developments exhibited in your official ROADMAP:

November, 2017
jWallet Release

The official CryDR wallet is released under an open-source license for community use



Q1 2018
CryDR Explorer

A dedicated CryDR block explorer is released to facilitate closer / more detailed tracking of CryDRs on the network

-----------------------------------------


On the other hand, mediated last week he made an announcement of ATTENTION for some important event. Three nights ago, they REPLACED the call, with more imminent ... and at the hour, THEY DELETED: Network of Lords of Jibrel ... I do not know how I can use my HUGE DISAPPOINTMENT to avail myself of this type of practices, already seen in projects of low category ... and that I NEVER thought they had anything to do with the Red Jibrel project. Actually, I'm stupefied.

Are the facts worthy of attention and how to confirm compliance with your ROADMAP? ... And, in case there have been no news in it, you have noticed that people who are interested in a community that had in Jibrel Network the image of a project of the MAXIMA series and meet with this type of attitudes, so common among the least recommended projects in the sector I never thought that Jibrel Network mixed with this kind of bad habits ... and I tell you with immense sadness, precisely because of the special specialty I had in this project ... before which I am completely and, before receiving a convincing explanation , neatly surprised.

Please ... could you answer these questions clearly?

thank you