About Jibrel Network

Jibrel Network provides currencies, equities, commodities and other financial assets and money instruments as standard ERC-20 tokens on the Ethereum blockchain. In the medium to long-term, Jibrel will focus on tokenizing debt instruments and their derivatives- thereby streamlining large portions of retail investment and investment banking operations.

They are the first protocol to allow anyone to put traditional assets such as currencies, bonds, and other financial instruments on the blockchain in a form of Crypto Depository Receipts (CryDRs). Our CryDRs have smart regulation built in; real-world rules and regulations are translated into solidity code to ensure that while decentralized, tokenized financial assets always follow real world rules and regulations.

Basic Information

The Jibrel Network

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 Tokens or JNT (e.g. a USD CryDR holds 1 dollar’s worth of JNT).

CryDRs

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.

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.

jCash

jCash is the first currency roll-out. USD, GBP, EUR, RUB, AED, and CNY CryDRs will be made available.

System Artecture

Public Blockchain

While reliance on another blockchain imposes a long-list of new challenges and limitations, a public and secure blockchain is required for early versions of jibrel, until full cross-chain communication is feasible.

Cryptocurrency Exchanges

Cryptocurrency exchanges provided end-users with fiat accounts in their local currency and digital wallets to hold cryptocurrencies. User can buy, trade or transmit digital currency, easily converting between crypto and fiat currencies.

Tethered Tokens

Tethered tokens will be required to create traditional asset-backed tokens. For every traditional asset held a tethered token is minted. Upon the underlying asset being sold, the token is destroyed.

Guarantor

In order to ensure tethered tokens hold their respective value, a guarantor is needed. The guarantor will hold traditional assets and issue their respective tethered tokens, as well as redeem and destroy tokens in return for the release / transfer of ownership of the underlying traditional asset.

Application Layer, Libraries & Templates

Once tethered tokens are established, an array of applications that leverages their capabilities can be
developed, including payment processors, remittance wallets and trading platforms. To facilitate rapid application development, a dedicated application layer with user-friendly libraries and code templates will be required.

Ownership Transfers

Once a tethered token is issued, the underlying asset can be easily traded similar to any cryptocurrency. The high-level process is outlined below:
1. User sends FIAT to guarantor
2. Guarantor returns jFIAT
3. User pays merchant in jFIAT
4. Merchant redeems jFIAT
5. Guarantor sends FIAT to merchant account
With a guarantor backing the tethered token, with the promise to redeem for the underlying asset at a future point in time, the token can stay in the system and be used for on-chain and off-chain payments.

Jibrel Network Approach

In building Jibrel, we leverage a more tedious but holistic solution – they deconstruct the whole system into
multiple sophisticated smart contracts that interact with one another, but can provide seamless upgrades and updates. While more complex to implement, it provides a powerful backend for Jibrel DApps.

Merchant API

Jibrel can provide merchants with a simple easy to use payment gateway that can accept payments in any
currency and pay-out in the local currency. Without incurring exchange or transfer fees. Once the network is established, merchants will be able to set-up currency agnostic payment gateways using jibrel’s user-friendly libraries and API.

Team

Also Read – Click Here for Read All ICO Review

Disclaimer:

Not all the websites Which listed in Top List are 100% safe to use or investment. We do not promote any of those. Due diligence is your own responsibility. You should never make an investment in an online program with money you aren’t prepared to lose. Make sure to research the website. So Please take care of your investments. and be on the safe site and avoid much losing online.

The post Jibrel Network Ico Review : The Jibrel Network provides currencies, equities appeared first on Coinworldstory.