LONDON, June 8, 2018 /PRNewswire/ --
Jinbi Token (https://jinbitoken.io), a UK-based gold-backed blockchain company, is set to revolutionise the multi-trillion gold industry. Using blockchain technology, Jinbi will ensure that gold assets are tracked securely throughout the production and distribution process.
Gold has continued to grow as a popular asset thanks to its increasing value and rich history. When compared to paper currency, gold has grown in value through the ages. Due to the growth in demand, paper contracts for gold have continued to rise in popularity. Individuals may be subject to counterparty risk. Jinbi Token ensures that individuals are in control of the physical asset when they purchase Jinbi (JNB) tokens.
On Monday June 18 2018, Jinbi Token (https://jinbitoken.io ) will launch a public pre-sale, followed by a crowdsale on Thursday June 21 2018, to raise funds which will power the platform. It is one of the first tokens to be partnered with a gold mining company. Tokens will be assigned gold via smart contracts, meaning that each piece of gold will be accounted for, from mining to storage. Blockchain technology provides an easy, safe and simple way to transact in an efficient, anonymous and high-frequency manner.
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 partners 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.
Co-Founder of Jinbi Token, Andre Rafnsson said, "Today, people who wish to buy 24 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 confusing environment to purchase gold. It is a well-known fact that you can buy gold with paper contracts, but 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."
Jinbi Co-Founder Joe Crawley added, "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, priced at $7.04 per token. We are developing exciting partnerships at the moment and look forward to sharing more information in the near future."
For more information about Jinbi Token, please visit the website (https://jinbitoken.io).
Jinbi Explainer Video: https://www.youtube.com/watch?v=OcRjIlgG3Qk&t=6s
Jinbi Token Website: https://jinbitoken.io
Jinbi Token Twitter: https://www.twitter.com/jinbitoken
Jinbi Token Instagram: https://www.instagram.com/jinbitoken
Jinbi Token Telegram: https://t.me/JinbiTokenOfficial
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Andre Rafnsson is available for an interview upon request. High resolution images are available. Media information provided by Famous Publicity. For more information, please contact Josh Balmer at email@example.com, Mason West firstname.lastname@example.org or Tina Fotherby at email@example.com.
About Jinbi Token
Based London, 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.
About the ICO
The company will launch its pre-sale on Monday June 18 2018, with the main ICO launching on Thursday June 21 2018 and it will run until Thursday July 19 2018.
Jinbi is aiming to raise $88,000,000 across the duration of the ICO. Jinbi will mint a maximum of 12.5 million tokens. Of these, 10 million tokens (equivalent to 80% of the total) will be available to the public.
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 remainder 8.75 million tokens will be available to the public in the main ICO sale.
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 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. Joseph is responsible for the Gold Mining Operations and Corporate Strategy for Jinbi.
SOURCE Jinbi Token