Jibrel Network

Status: Active

Description: The Jibrel Network aims to allow anyone to tokenize traditional real-world assets.

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Start of ICO 25.09.2017 End of ICO 27.12.2017 Hard cap $32,000,000 Raised $3,200,000 (10.0%)

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Rating: 61

67%
58%
40%
53%
75%
67%

Team

Project lead Yazan Barghuthi was working for top management consultancies such as Oliver Wyman and Deloitte, while Bizdev Lead Talal Tabbaa held a financial advisory roles at top tier consultancies (PwC), and was Advisor to the Chairman of the Board at ARABASCO. Victor Mezrin - Technical Lead previously ran an altcoin mining pool called pool.mn. Team has good experience in financial services and consulting, and Victor Mezrin has previous experience with blockchain and cryptocurrencies.

Yazan Barghuthi – Project lead

Talal Tabbaa – Bizdev Lead 

Victor Mezrin - Technical Lead

Nick Marinin - Developer

Aleksey Selikhov - Developer

And the rest of the team at their website.

58%

Product

  • Product idea

The Jibrel Network provides currencies, equities, commodities and other financial assets and instruments as standard ERC-20 tokens on the Ethereum blockchain. The idea of tokenizing real-world financial assets has a lot of potential, but is not anything new. There are a lot of competitors already doing or trying to do the same.

  • Product status/stage:

The Jibrel Network Limited Alpha went live on Ropsten in May 2017 and demonstrated CryptoDepository Receipts (CryDRs) and ‘Smart Regulation’.  jWallet should be released in October. The first component of the wallet was a standard URI scheme and QR generator. The team released QR code generator under an MIT Open License on Github.

Jiberl DAO, the Jibrel Decentral Bank should be launched by Q4 2018.

  • Business model relationship and value flow:

The token aims do tokenize real world assets. Thus, value is flowing from outside, the more people use the platform to tokenize real world assets such as fiat currency, the higher the value of the token should be. However, Jibrel Network Token (JNT) and Crypto Depository Receipts (CryDRs) can't be exchanged outside their platform.

"From the website: 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."

  • Function/utility of the token:

From the website:

"Jibrel Network Token (JNT) is a virtual currency used to purchase/redeem CryDRs (Crypto Depository Receipts are smart contracts that represent the value of a real-world asset). In addition, any value exchange associated with the securitized off-chain assets are transacted using Jibrel Network Token. Finally, CryDR transfers consume small amounts of JNT in the form of jGas."

  • Verdict:

Couldn't do it with Bitcoin/Ethereum, as they are too volatile to hold liabilities in fiat currency with them.

40%

The market for asset cryptocurrencies has a lot of potential and is expected to grow aggressively in the next years. However, there are already a lot of competitors in this space and the competition is expected to be fierce.  Once big financial institutions start their own "tokenization" of assets in the future, the new blockchain startups might not survive. We don't believe that Jibrel Network can gain any meaningful market share in the light of fierce competition with incumbent financial institutions and similar crypto startups.

Competitors (from LAToken whitepaper)

53%

Transparency

  • Github:

There is currently only code for QR code generator for Ethereum payments.

https://github.com/jibrelnetwork/ethereum-qr-code

QR Code: 122 commits, 4 branches

  • Community

Bitcointalk thread not too active.

https://bitcointalk.org/index.php?topic=2057487.0

Their Twitter is posting regularly.

https://twitter.com/JibrelNetwork

  • Roadmap

Plans are clearly defined and can be measured. More detailed roadmap can be found on their blog.

  • Plans for listing:

Jibrel intends to list JNT on numerous exchanges within 90 days of public sale close. We believe they have a high chance to get listed on some exchanges.

  • Crowdsale Information

75%

ICO Structure

  • Jurisdiction:

Switzerland

  • Legal structure:

Company established: Jibrel AG

  • Distribution of tokens:

Only 60% of the coins will be available for public, 40% for the ICO and 20% for the pre-sale.

 

  • Lock-up period

We couldn't find any mention of the lock-up period for the team, advisors and partners and angel round tokens, which can be a problem.

  • Security

The Jibrel Network is engaged with New Alchemy for Security Audits of the platform and CryDR contracts, which earned them full points for security in our rating model

  • Plans for audit:

Jibrel accounts and partnered financial institutions will be audited by PwC, which earned them full points for financial audit in our rating model.

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