Jinbi Token Ico Review: A New Horizon Of Wealth And Security
About Jinbi Token
The Jinbi Token (JNB) merges a traditional gold investment holding with blockchain technology, giving the token holder the best of both worlds. Everyone knows gold and its history as a store of value and purchasing power.
The Cryptocurrency market has adopted some of gold’s benefits with the creation of cryptocurrencies such as bitcoin, a digital coin that can easily be transferred between peers anonymously within seconds. This is possible due to an existing decentralized blockchain technology platform. Jinbi has developed this concept further. The blockchain technology holds its primary advantages in securing transactions anonymously, fast, safely, traceable and transparently.
Token Name JNB
Token Sale 10,000,000 JNB
Token Price 7.04 USD
Token Supply 12,500,000 JNB
Hard Cap 88,000,000 USD
Soft Cap 8,000,000 USD
Jinbi Token Characteristics
Jinbi is a clear, transparent and fully auditable peer to peer platform built on the blockchain. Jinbi Token holders will benefit directly and share in the profitability from the production of Gold at the source. Jinbi will create liquidity events following production milestones whereby each coin holder will receive a dividend payable in physical gold, ethereum or bitcoin. All other funds are reinvested back into Jinbi to continue further Gold production. Not only will a coin holder benefit from biannual physical gold dividends but also participate in the appreciation of the underlying token, Jinbi backed by an audited and increasing gold floor.
Fully tradeable and transferable
Listed on a number of Cryptocurrency Exchanges
Quarterly reported inner Gold Value i.e. a stable and increasing Gold Floor
150,000 ounces linked to a smart contract by 2019
Creation of biannual liquidity events via Gold dividends.
Jinbi Tokens can be used to purchase monthly in-depth market commentary and analysis on all crypto and Gold developments.
Secured Gold Storage paid for with tokens, secured within Jinbi accredited and associated vaults and discounted over time.
Jinbi tokens are held in the most secure ethereum wallet, Pillar.
A critical structural characteristic of the Jinbi Token is the re-introduction of fresh gold into the token ecosystem. This is done to provide an ever-rising lower boundary for the token value in the secondary market. Arbitrage traders would rationally buy Jinbi and sell gold should the token price fall below the inner gold value providing a floor price for the token. The value of a gold equity can be considered the sum of all its future cash flows, but a Jinbi token is rationally the sum of its future cash flows PLUS the inner gold value.
Produits Artistiques Metaux Precieux or PAMP, based in Ticino, Switzerland, is the world’s leading bullion brand and one of the most trusted refiners and fabricators of precious metals. Kaloti Refinery, based in Dubai, UAE, is situated within the Free Trade Zone. Kaloti has a strong track record in the gold refinery business and is ideally situated for any African produced gold.
Bureau Veritas Inspectorate will carry out quarterly audit inspections on the quantity and quality of Gold stored in our associate vaults to ensure proper and correct accounting is upheld. They are the premier independent precious metals inspector in this space and have a well-deserved and long heritage dating back to 1828.
Jinbi has a series of partnerships with custodian vaults. This network will develop along with gold produced and culminate in secured facilities owned by Jinbi. All Jinbi gold will be held in these vaults, adequately insured and documented permanently on the blockchain once approved by the quarterly audit inspectors, Bureau Veritas.
In keeping not only with good governance but also with common sense, Jinbi will commission an independent annual audit from one of the five top-tier accounting firms. The Jinbi Token Annual Audit will occur every January
Multi-Party Trust Mechanism
All parties are independent of one another with specific roles within the chain of custody. Collusion between parties is therefore eliminated within the strong governance and auditing directives. This system culminates in proving asset quality, quantity, location and ownership that will be stored permanently on the decentralized blockchain, Ethereum. All parties have been chosen specifically because they are professional, established and for this reason, have an incentive to complete their contracted tasks accurately and independently of one another. No one provider will ever be responsible or tasked with providing more than one provision in the audit trail process.
All keys are stored in a subsystem called “Key Server”. A unique key identifier is generated before adding any new key to the Key Server. We use a Script cryptography algorithm, an approach that is considered best practice in preventing hacking attacks. A client-side combination of a password and unique salt is used to prove and verify with our server, that the requestor actually knows the password without the need to send it to us. To encrypt a user’s private key we use the AES-256-GCM algorithm and a user’s password as the encryption key. After
this preparation, the key identifier and encrypted private key are uploaded to our Key Server. Using this approach, the sensitive data from users is never stored directly in our system, so even admins do not have access to it. To ensure that users’ keys are further secured, the company uses 2-factor authentication by using Google’s Authenticator (MFA) to retrieve encrypted keys from the storage.
Andre Rafnsson – CO-FOUNDER
Joseph Crawley – CO-FOUNDER
Stuart Hay – OPERATIONS MANAGER
Arnold Yanovich – ICO MANAGER
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