When we speak of (ICO), we refer to an initial coin offering which is the equivalent of an initial public offering (IPO) when a company passes from a private to a public status through the sale of shares. This can be done to raise funds without the need for initial venture capital or a bank.
The time has come for gold and cryptocurrencies to be integrated into the same variable, the Jinbi Token. Backed by an audited and growing physical gold floor, the Jinbi Token holders will directly benefit and share the profitability of gold production at the source. Jinbi will create liquidity events by following production milestones for which each coin holder will receive a biannual dividend payable in physical gold or Jinbi (JNB) chips. All other funds are reinvested back into Jinbi to continue gold production.
Buying 24-carat gold can be complicated and confusing in these times as it poses many risks such as checking if it is authentic, accrediting if it is a reliable resource, how to keep it and how to dispose of it when necessary. It is a well-known fact that you can buy gold with paper contracts, which means you may be subject to counterparty risk.
The solution to this problem is fully interchangeable, and transferable tokens, which are listed in a series of encryption exchanges with an internal gold value reported quarterly, i.e., a stable and growing gold floor. Jinbi’s chips are stored in Ethereum’s safest wallet, Pillar. When you own the physical asset, you have no counterparty risk because it is under your personal control. The Jinbi Token functions as a decentralized, independent and verifiable asset that allows buyers to verify their purchase of gold along the supply chain.
All acquisitions are made through an intelligent contract, which is digitally signed every step of the way. By using cryptographic security, only those within the supply chain can see the details.
The independent auditors will carry out quarterly audit inspections on the quantity and quality of gold stored in the associated vaults to ensure that correct and accurate accounting is maintained, which is what the market demands.
All participants gain transparency in the supply chain and have an accurate understanding of the location of their gold. Jinbi makes buying gold simple, safe and secure. Dividends will also be paid when significant production and storage milestones are reached.
By using smart contracts and linking it to gold, it makes it more interchangeable and a much more secure and reliable source of value. Transparency is what the industry needs, blockchain and the Jinbi Token are the solutions to deliver it.
The Jinbi Token has some features that make it attractive when making an investment which can be classified as follows:
The Jinbi Tokens is entirely negotiable and transferable
It is included in a series of kryptonite exchanges
Its intrinsic gold value is reported quarterly, i.e., a stable and growing gold floor.
150,000 ounces linked to smart contract in 2019
Creation of biannual liquidity events through gold dividends.
Jinbi tokens can be used to purchase detailed monthly market commentary and analysis on all crypto and gold developments.
Insured gold storage paid for with tokens, insured within Jinbi’s accredited vaults and partners and discounted over time.
Jinbi is a clear, transparent and fully auditable peer to peer platform built in the blockchain. Jinbi token holders will benefit directly and share the profitability of gold production at source. Jinbi will create liquidity events following production milestones so that each coin holder will receive a dividend payable in physical, ethereal or bitcoin gold. All other funds are reinvested in Jinbi to continue gold production. The bearer of currency will not only benefit from the biannual physical gold dividends but will also participate in the appreciation of the underlying token, Jinbi backed by an audited and increased gold floor.
Its multi-party trust mechanism operates independently of each other through all its parts, which have specific functions within the chain of custody. Therefore, collusion between the parties is eliminated within strong governance and auditing directives. This system culminates in testing the quality, quantity, location, and ownership of the assets to be permanently stored in the decentralized blockchain, Ethereum. All parties have been specially chosen because they are professional, established and, for this reason, have an incentive to complete their contracted tasks accurately and independently of each other. No supplier shall be responsible for or have the job of providing more than one provision in the audit process.
Jinbi has embarked on an ICO corporate finance chain which has established missions and purposes, goals to be met and assurance of determination to be launched and completed in the second quarter of 2018, with the goal of raising USD 88,000,000.00 in a 28-day ICO offering period by starting the crypto token in the Ethereum blockchain.
The pre-sale will be carried out using a smart contract and an ether address that will be sent with instructions via email. Pre-sale is limited to 1.25 million tokens. The ICO token sale will offer 8,750,000 tokens to the public. They will be sold under a smart contract until all the tokens have been sold, or 60 hours, whichever comes first. The price will be set in ether (ETH).
Buyers will receive ERC20 tokens at the end of the sale. All unsold tokens from both pre-sales and sales will be immediately frozen for two years under a smart contract. After two years, they can be sold, refrozen or burned according to our records management directives, which will evolve with the system.
A gold dividend will be paid after the 100,000 ounces are refined and tokenized. The first payment is expected at the end of Q1 2019 and will be distributed proportionally to all Jinbi Token holders. After that, at six-month intervals, additional prorated payments will be made for every 100,000 ounces produced. The gold dividend can be collected at Jinbi-approved distribution points worldwide within seven days of notification or sent directly to your designated address. Jinbi can also sell the gold dividend for you at the official gold price on the day of the notice, and transfer it to your assigned wallet address.
Being this way and already explained its functionality and activity in the market, the Jinbi Token will generate the best investment options using gold as a resource and be promoting the security and efficiency of transactions within a modern platform that offers confidence to its users that their capital will be used and invested in an extraordinary way.