The independence of non-bank trustless transaction capabilities of cryptocurrencies is raising new challenges of their own. The hurdle of conversion from fiat to crypto or vice-versa, the unregulated market opening doors for massive scams and don’t forget the hacks. All of which pose a very serious threat to investors, brokers and users of cryptos.
The bigger issue that plagued the crypto-space is its volatility. As long as the volatility is upward everyone is ecstatic and when it goes down, it goes down hard. Thus not able to serve as a reliable method of conducting business.
Tether tried to solve this problem by controlling the supply, however, many believe it to be a ticking time-bomb as it is not backed by any real asset value.
Jibrel network aims at solving these issues with their revolutionary solution.
According to their whitepaper, “Jibrel network aims to facilitate the digitalization, listing and trading of traditional assets such as currencies, bonds and other financial instruments, on the blockchain. The jibrel decentralized bank will allow platform users to deposit cash, money market instruments or create their own Crypto Depository Receipts (CryDRs) and benefit from on-chain off-chain arbitrage.”
Jibrel helps investors, brokers and users to tokenize their financial instruments for immediate liquidity.
Jibrel will back up all the ERC20 tokens created with their own on-platform currency called CryDRs. CryDRs are supposed to be KYC and AML compliant, and if this is true, it would solve a major issue of the crypto-space and this could open an entry for the traditional markets to enter into crypto-space.
If this happens, Jibrel’s value will multiplier.
In a world filled with shitty projects like BCC and scores that followed the same suite, Jibrel is a fresh breeze of quality.
Watch this video to get a clearer understanding of the project concept.
Jibrel will start off by supporting 6 cryptos and 2 fiat currencies and in future they intend to broaden the inclusion list.
I am assigning 35 points.
2) Team and Roadmap:
Yazan Barghuthi is the project lead and co-founder along with Victor Mezrin. Team is decent, although, they will have to expand it greatly as they venture to revolutionize the traditional asset space.
The advisory group is pretty solid including Don Tapscott, the same guy that was behind ICON. TaaS CEO is among the advisory board.
Roadmap shows that the Jibrel DAO and full decentralization will be complete by Q4 of 2018.
I am assigning 15 out of 20 points.
3) Active presence in the Market:
Their social platform is pretty active and their active handle on bitcointalk answers most questions. Buzz is relatively positive.
I have not seen hype tactics and that is expected for a long-term quality project like Jibrel.
I am assigning this 10 out of 15 points.
4) Acceptable cryptocurrencies to participate in the ICO:
There are going to be a total of 200 Million Jibrel tokens and 75% are offered to public. 10% were offered in pre-sale and 5% are allotted to bounties, leaving 60% made available in public sale.
As of writing of this review, the ICO sale is already on and they have sold over 93 million tokens already with 50 days still to go.
Participants can use ETH or Bitcoin to participate in the token sale.
I am assigning 0 out of 5 points.
5) Author’s Bias:
Personally, I think Jibrel is going to transcend the biggest barrier between mainstream finance world and crypto-space if they succeed in their mission. In the process, they can make the investors very happy too.
We all are predicting and hoping that crypto-space will enter the trillion $$ league soon, and projects like Jibrel are the ones that are going to push the market into that league as success of projects like these is going to attract money from the BIG guys into crypto-space.
I like the solution, quality and direction this project can take crypto-space into and I am assigning 15 out of 20 points.
Verdict: I am IN
Tokenizing traditional assets, hedging volatility, bridging the gap between cryptos and fiat, instant liquidity for traditional funds, smart regulation bringing much needed security and trust to crypto-space. These are some of the many reasons to back this project.
Please read Jibrel Whitepaper before deciding to invest.
If you would like for me to review an ICO that you are looking into, drop a note in the comments. I cannot promise that I will be able to review all requests but I will try to if my schedule permits. Your comments will also help keep me in the know about the ICOs that I may have missed.
Do your own research before investing. Crypto space is very volatile, don’t invest more than what you can afford to lose. Opinion, not an advice.