LONDON, June 19, 2018 /PRNewswire/ --
Jinbi Token (https://jinbitoken.io), a London-based gold-backed blockchain business, has partnered with data protection rights foundation Pillar Project. The partnership is announced during the Jinbi token pre-sale, which is now live, ahead of the main sale which commences on Thursday June 21, 2018. The partnership means that Jinbi Tokens will be one of the first authorised crypto assets to be listed on the Pillar whitelist exchange.
The Jinbi token will have its own exclusive wallet using Pillar's unique and first to market platform that will provide additional security and transparency to token holders. In addition, Pillar project team members are supporting Jinbi Token as technical experts in blockchain structures and token transaction security.
Pillar (https://pillarproject.io) completed a very successful ICO back in July 2017 and is the leading blockchain-powered projects aiming to disrupt the world of data. Set to launch the most secure token wallet later this year, Pillar will be incorporating Jinbi as one of the first asset-backed tokens in its soon-to-be-launched wallet.
Jinbi is one of the first tokens to be partnered with a gold mining company. Jinbi is revolutionising the security of gold assets by using blockchain technology and implementing smart contracts. Each token will be assigned gold, meaning that every piece of gold will be accounted for, allowing partners to know where the gold is located and how much each token holds. This provides an easy, safe and simple way to transact.
Co-Founder of Jinbi, Andre Rafnsson, said, "Today, people who wish to buy twenty-four carat gold face a number of challenges. For example, where do people go to buy gold and how do they know if it is authentic? Is the gold from a trusted source? How would they store it? How do they get access to it? The list goes on. We live in a complex and challenging environment to purchase twenty-four carat gold. It is a well-known fact that you can buy gold with paper contracts, and you could be subject to counterparty risk. But what if you owned the physical assets and they were under your control? Transparency is what the gold industry needs, and blockchain is the solution to deliver it."
There are six key stages to the Jinbi Token (https://jinbitoken.io ) process. Firstly, the business holds a legal off-take agreement with the mining partner for the production of gold. The gold is produced and then refined by a world-leading precious metals company. After this stage, the gold is then insured and stored securely in vaults. International certification agency Bureau Veritas will perform as the third-party auditor.
Once approved and verified, the gold is linked to smart contracts which are permanently on the public blockchain. Jinbi Token will be a safe haven crypto asset class with an increasing gold floor.
Jinbi Token (https://jinbitoken.io) will also hold quarterly audit inspections on the quantity and quality of gold stored in vaults. By doing this, the company ensures proper and correct accounting is upheld. In addition to this, Jinbi Token will use cryptographic security, meaning only those within the supply chain are able to view the details. Those taking part will be provided with transparency, so they can have a precise understanding of the location of their gold.
Andre Rafnsson continued, "Our expectation is to have 150,000 ounces of gold linked to smart contracts by 2019. All bars produced are twenty-four carats with a fineness of 999.5. They will all be delivered brand new and will be stored in various sizes, from 5g to 12.5kg. Once the gold has been allocated, it can then be delivered or stored.
"A maximum of 10 million Jinbi tokens will be available to the public. The Jinbi token will be one of the first tokens, other than the Pillar token, to use the new Pillar wallet."
Tomer Sofinzon, co-founder of 20|30 and the Pillar Project, and an advisor to Jinbi Token said, "We are proud to partner with the team at Jinbi. It is one of the transformational and revolutionary initiatives ideally suited to the platform we have created. We are looking forward to integrating Jinbi into our wallet to make gold more accessible to all."
For more information about Jinbi, please visit https://jinbitoken.io.
Jinbi Token: https://jinbitoken.io/
Pillar Wallet: https://pillarproject.io/
Jinbi Token Telegram: https://t.me/JinbiTokenOfficial
Jinbi Token Instagram: https://www.instagram.com/jinbitoken
Jinbi Token Twitter: https://www.twitter.com/jinbitoken
Andre Rafnsson is available for an interview upon request. Media information provided by Famous Publicity. For more information, please contact Josh Balmer at email@example.com, Mason West at firstname.lastname@example.org, or Tina Fotherby at email@example.com.
About Jinbi Token
Based in the UK and Belarus, Jinbi (https://jinbitoken.io/) is a gold investment platform built on the Ethereum blockchain. By using blockchain technology, Jinbi Token allows individuals to trade gold in a secure peer-to-peer system to share the profitability of gold production. Jinbi has partnered with the team at Pillar Project (https://pillarproject.io/) to store all tokens in the secure Pillar wallet. The business is managed through a team of eight experts with an array of experience in technology and the gold industry. The minimum investment is 0.1 ETH.
About the ICO
The Jinbi Token pre-sale runs until Thursday June 21 2018, with the main ICO launching on Thursday June 21 2018, which will run until Thursday July 19 2018.
There will be a total of 1.25 million tokens available to purchase for the pre-sale. This will take place by sending a combination of a smart contract and an ether address by email, detailing instructions to the investor on how to participate in the sale.
The company is aiming to raise $88,000,000.00 across a four-week ICO to the public and will mint a maximum of 8.75 million tokens. Of these, 10 million tokens (equivalent to 80% of the total) will be available to the public, and 2.5 million tokens (equivalent to 20% of the total) will be available to management.
All unsold tokens from the pre-sale and the main ICO will be iced for two years using a smart contract. After this period, the tokens may be sold, re-iced or burned dependent on a collective decision made by the Jinbi management team.
Full instructions on how to participate in the pre-sale and main ICO can be accessed through the main website (https://jinbitoken.io/buy/).
About Andre Rafnsson
As Co-Founder of Jinbi, Andre Rafnsson has over 20 years' management experience within the pharmaceutical and medical industry and most recently the biotech sector. He is primarily responsible for investor relations and business development at Jinbi. Andre has a strong interest in physical gold and silver and has been actively investing in the resource industry for the last 10 years. Andre who is fluent in five languages (English, Icelandic, Russian, Danish and Swedish) and has international experience in the EMEA region.
About Joseph Crawley
As Co-Founder of Jinbi, Joseph Crawley is an experienced manager in base and precious metals, trading and mining. He has also been involved within the commodities, mining and finance sectors for over 10 years. Joseph has previously managed mining projects and JVs in Turkey and Ghana.
Joe is responsible for the gold mining operations and corporate strategy for Jinbi.
SOURCE Jinbi Token