Jinbi Token (https://jinbitoken.io/), a UK and Belarus-based gold-backed blockchain business, has now raised in excess of $10Million during the ICO to power the platform. The main sale started on Thursday June 28 2018, and will run through until Thursday July 26 2018.
The Jinbi Token merges traditional gold investment with blockchain technology, which allows the token holder to experience the best of both worlds. Jinbi has developed this concept further by being one of the first tokens to be partnered with a gold mining company. Using blockchain technology allows Jinbi to hold its primary assets and secure transactions anonymously, safely, traceably and transparently.
Jinbi recently completed a week-long pre-sale, which successfully reached a soft cap of $8Million. Once the ICO fundraising is complete, Jinbi tokens will be available for purchase on several crypto exchanges. These will be made available to the public following a collective decision from the management team of Jinbi.
The Jinbi token provides both the precious metals investor market and crypto currency enthusiast with an advanced value preservation solution, as well as an innovative and accountable structure using a blockchain smart contract. Jinbi expect to generate substantial capital appreciation whilst maintaining an attractive risk profile for investors.
Additionally, Jinbi Token holders are eligible to receive quarterly precious metals and crypto currency investment reports. To receive the investment reports, one must have invested a minimum of 1 ether during the main ICO. Jinbi Tokens, which are delivered via a smart contract, are the documentation invested physical gold holdings.
To participate in the ICO, participants are required to provide their full name and address and may be asked to submit scanned copies of proof of identity. This is managed as part of Jinbi Token's Know Your Customer (KYC) process. An encrypted format (using 128-bit AES encryption algorithm) is always used at all stages of the data management lifecycle. Elliptic curve asymmetric cryptography is used for authentication.
Andre Rafnsson, Co-Founder of Jinbi Token (https://t.me/JinbiTokenOfficial) said, "The support from the community has been phenomenal and we are immensely proud of the project. To reach the $10Million milestone so early in our main sale is a huge achievement.
"Jinbi expects to have production of 150,000 oz of gold underpinning the Jinbi Coin in 2019, 305,000 oz of gold in 2020, 575,00 oz of gold in 2021 and 1.15 million oz of gold in 2022. The Jinbi Gold hard floor will be reported in line with our audit directives and specifically designed multi party trust mechanism.
"So in 2019, the underlying value of the smart contract Jinbi Gold Token will be 202.5 million USD (against ICO raise of USD 88 million), in 2020 USD 411.75 million, in 2021 USD 776.25 million and in 2022 USD 1.15 billion - in the following years it will be exponentially more as production and number of mining partners increase. We are excited to see what the future holds."
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. 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 company launched its public pre-sale on Monday June 18 2018 which ran for one week, reaching the soft cap of $8Million. The main ICO launched on Thursday June 28 2018 and will run until Thursday July 26 2018.
The company is aiming to raise $60,000,000.00 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 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.
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 is fluent in five languages (English, Icelandic, Russian, Danish and Swedish) and has international experience in the EMEA region.
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 joint ventures in Turkey and Ghana. Joseph is responsible for the Gold Mining Operations and Corporate Strategy for Jinbi.