Jibrel Network – World’s First Blockchain Platform for Smart Asset-Backed Tokens to Kick-start Token Sale
November 28, 2017 4:10 am,
Jibrel Network focuses on bridging the gap between the crypto-economy and traditional financial infrastructure, as to enable investors and users to store, send, receive and exchange assets for near zero-fees.
Dubai, 27 November 2017: Jibrel Network, one of the first Blockchain-technology startups, has announced today the launch of the token sale which will be open to investors until 26 January 2018. Jibrel Network is the first decentralized platform that places traditional assets, such as currencies, bonds, equities and commodities on the Ethereum blockchain, thereby leveraging the cost efficiencies associated with storing and transacting digital assets. Launched earlier this year, the company has secured over USD 3.2 million in funds from international investors including TaaS Fund, Tech Squared, Aurora Partners, Arabian Chain during the public token presale in September 2017.
Commenting on the token sale, Talal Tabbaa, Co-Founder of Jibrel Network said: “It is a great pleasure being part of this growing blockchain eco-system, and I am confident that this technology will become an integral part of business environment across the globe in the coming years. We are still in the early days of Blockchain adoption which presented us with the opportunity to launch Jibrel Network and bridge the gap between the crypto-economy and traditional financial infrastructure. We are very excited to have recently released the alpha jWallet, and are happy to announce our token sale to investors and the blockchain community.
“Our Blockchain platform aims to engage existing financial institutions, and more importantly, financial regulators. We are firm believers that adherence to financial regulations is key to sustained scalability, and we are taking all steps necessary to ensure our compliance to the highest global standards. Our focus is providing an open source infrastructure where users, investors and brokers can tokenize their assets, and benefit from the advantages of using Blockchain technology – without having to take on risks associated with cryptocurrencies,” he added.
The company was established to address the crypto-economy’s need for regulated, safe and insured assets on the blockchain that can be used as crypto-hedging tools to reduce volatility risks. As well as offering the traditional economy a chance to benefit from crypto-economy by tokenizing assets making them more liquid, Jibrel Network specializes in pioneering the concept of asset-backed tokens and smart regulations. On the Jibrel Network, asset-backed tokens are called CryptoDepository Receipts (CryDRs). These ‘Smart Tokens’ can be used for remittances, global payments, trading, and hedging. In addition, CryDRs have regulation-embedded, ensuring all token transfers on the Jibrel Network are always fully KYC “Know Your Customer” / AML “Anti Money Laundering” compliant.
Jibrel Network is quickly becoming an important innovator in the space by building an infrastructure critical to the industry’s advancement. Earlier this month, the company launched its first product, the jWallet, an enterprise-grade crypto wallet solution that is highly reliable and user-friendly without sacrificing user security.
Following its inception, Jibrel Network has attracted renowned leaders from financial and blockchain industries to act as advisors and support the company’s development. Among these advisors are Don Tapscott, a global leader in Blockchain, author of Blockchain Revolution. He was named the world’s most influential leader in digital thinking, and the second-most influential living management thinker by Thinkers50. Other key advisors include Abbas “Eddy” Zuaiter (Ex-COO of Soros Fund), Ruslan Gavrilyuk (Founder of TaaS), Dr. Moe Levin (CEO of Keynote), Saul Hudson (Ex-GM of Thomson Reuters), and Mohammed Al Sehli (Founder of Arabian Chain).