ICO Analysis — Jibrel Network
Crypto-currencies have garnered massive interest among various investors lately, while they remain one of the most volatile, yet attractive investments, much of the institutional money is yet to enter this space. Jibrel Network aims to bridge this gap between Institutional space which is focused around real world assets and the crypto-currencies space.
Jibrel Network tokenizes currencies, commodities, debt instruments and securities, as standard ERC-20 tokens. This means that any traditional financial asset(excluding listed equities for now) can be pegged to a token on the Jibrel Network.
Furthermore, Jibrel provides the ability and the flexibility to code contracts that represent real world regulations and laws. All transactions are needed to be verified by KYC/AML which makes it compliant to regulatory structures.
CryDR’s also called as Crypto Depository Reciepts are the tokens to which financial assets are pegged to. These tokens also represent the ownership of a traditional asset. CryDRs can be redeemed for their underlying JNT value.
Use case
Jibrel Network was initially targeted towards capturing the remittance market, for workers in the Gulf and Arab countries to send money home.These tethered tokens were later evolved to be used not only for remittances but also for trading platforms and payment processing. Purchasing of assets is done via JNT(Jibrel Network Token),this is one of the most important use case of this token. This eventually will help institutional space to enter the blockchain space as hedging and diversifying into less volatile markets is possible. Apart from this JNT gets used up and burnt with every payment transaction. This way the capitalization of JNT tokens will grow with more adoption. To facilitate the use of these tokens, Jibrel Network also provides a platform to develop and build applications .
Another unique use case is that for the first time ever bonds,commodities can be used for making global payments. You can trade bonds and commodities for cryptocurrencies or bonds for commodities. In short, you can trade anything with everything.
The other token offered by Jibrel Network is Jcash. Jcash functions more or less like Tether but only more transparent with implementation of smart contracts on the road map. Jcash will be used to back currencies(USD,GBP,EUR,CNY,YEN) on the blockchain, with its own Decentralized Exchange (DEX)
All these tokens will be backed by real word assets, which is where part of the funds raised in the ICO would be used for. Jibrel DAO will manage the funds raised from the ICO, where share holders have voting rights proportional to their stakes.
Competitors
Currently, LAToken(LAT) and Blackmoon Crypto (BMC) are competitors to Jibrel in the tokenizing of assets space.Both,LAT and BMC are in development stages and hence it is too early to evaluate or compare with Jibrel. Meanwhile, Everex and OmiseGO are main competitors in the remittance space. One of the main differences between these two and Jibrel is that Jibrel Network is currently spearheading the remittance sector in the Middle East whereas OmiseGo and Everex are targetting more around the South East Asian countries.
Team
The Jibrel Network team seems to be pretty proficient in what they do,with most of the team coming from computer science and financial backgrounds.
Yazan Barghuthias, the co-founder has over 9 years' financial services experience at top management consultancies such as Oliver Wyman and Deloitte.
Victor Mezrin, the co-founder and technical lead has 10 years' development experience and has run a one of the most prominent mining pools in the past.
Talal Tabbaa, co-founder, has over 6 experience in financial advisory roles in top tier firms such as PwC and in private investment funds.
Partnerships and Advisors
Jibrel has some of the most coveted advisers which includes the likes of the former COO of SOROS fund, TAAS fund and advisers from Thomson Reuters. Furthermore, Jibrel Network is partnered with the TAAS fund,which has also partnered with various projects like Science,Etherparty and Matchpool and has reported a quarterly gains of 5.5 million USD.
Market share estimates
Jibrel Network attempts to target US $500 billion worth remittances market along with over US $294 trillion worth financial assets market. To be very conservative,even if Jibrel Network aims to capture 1% of the market share of remittances within the next 5 years, Jibrel Network would be handling over 5 billion USD worth of transactions. This is of course excluding the financial assets market that Jibrel is aiming to attract, a very conservative estimate indeed.
Overview
Hard cap —US $29 million
ICO date — 27th November to 26th January,2018
Amount raised till the time this article is written —
Total circulation — 200,000,000
Price per token — US $0.25
Flip recommendation — High.
Long term hold recommendation — Very High.
