Jinbi Token, a UK, and Belarus-based gold-backed blockchain business went live today with its token pre-sale. The pre-sale is currently open to the public and will run for 72 hours prior to the main sale scheduled to start on Thursday, June 21, 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, and transparently.
Jinbi is a fully auditable peer-to-peer platform built on the Ethereum blockchain. Token holders benefit directly and share in the profitability from the production of gold at the source. Jinbi provides a critical structural characteristic of the industry with the re-introduction of fresh gold into the ecosystem, as a means of providing an ever-rising lower boundary for the token value in the secondary market. The value of a gold equity can be considered the sum of all its future cash flows, but a Jinbi token is rationally the sum of its future cash flows plus the inner gold value.
Buyers will receive ERC20 tokens at the end of the sale and all unsold tokens from the pre-sale will be iced for two years using a smart contract. Jinbi token holders are also eligible to receive quarterly precious metals and cryptocurrency investments reports within the industry. To receive these investment reports, the individual must have invested a minimum of one ETH during the ICO period.
Andre Rafnsson, Co-Founder of Jinbi Token said:
“We are excited to be launching our pre-sale and have been overwhelmed by the amount of support for our project. Jinbi tokens can be used to purchase monthly in-depth market commentary and analysis on all crypto and gold developments. Secured gold storage is paid for with tokens which are secured within Jinbi accredited and associated vaults. Additionally, these are discounted over time.
“The beauty of Jinbi is that 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 through Jinbi. During our pre-ICO sale, we are offering a 20% bonus of Jinbi tokens which will be distributed to the participants.”