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BitcoinX: Thank you for taking the time to chat with us today. So, tell us who you are and what your position is at Jibrel Network?
Jibrel Network: Yazan Barghuthi, I’m the Project Lead at the Jibrel Network.
BitcoinX: Tell us – what is Jibrel Network? What is the main idea behind the project and why did you decide to start it?
Jibrel Network: The Jibrel Network provides traditional financial assets such as currencies, commodities and bonds, on the Ethereum blockchain.
BitcoinX: Blockchain technology is expected to alter the landscape and/or create efficiencies in almost every industry. In what ways does your technology address these?
Jibrel Network: Our rationale is simple. Blockchains and smart contracts are amazing, but to leverage them in the real-world, we need to connect the crypto and traditional economies. To give you an example: people pay their rent, mortgages, bills, loans, etc. in USD, GBP, EUR, KRW, JPY. Not in BTC or ETH. So the first step to scale blockchain and smart contract technology and provide it to financial services, is to introduce crypto-fiat, which is why we created jCash
BitcoinX: When and why did you first decide to do an ICO?
Jibrel Network: We started building the network in February / March. It then became apparent that to compete in this space, we will need to conduct our own token sale. Our White Paper was released in April, alongside the Jibrel Network Alpha – which was deployed on Ropsten mid-April as well.
BitcoinX: Tell us about what preparation was required to get the project to this point?
Jibrel Network: The most difficult requirements have been legal, regulatory and compliance. To conduct a fully compliant token sale is not simple. Gone are the days of providing a contribution address and that was it. So the legal work was generally around obtaining the relevant licenses and registrations to operate lawfully.
BitcoinX: What makes this project especially exciting for ICO participants? What makes them want to join?
Jibrel Network: Our strong focus on compliance shows we are interested in building something big, beyond the crypto-economy. Today, the crypto-economy is USD 500 Billion, while the traditional economy is in excess of USD 30 Trillion. Furthermore, Our team is full of experienced professionals, who have built out organizations, products and offerings in the past.
BitcoinX: Where are you in the actual development phase of the project?
Jibrel Network: The jWallet alpha has been out for a few weeks now, with the beta coming soon. jCash contracts have been completed and deployed. We are just waiting on the regulatory go-ahead to be able to operate lawfully.
BitcoinX: After a successful ICO, what is the timeline for coming to market?
Jibrel Network: We’re already on the market! We believe in releasing products first, so we have deployed our first product releases in advance of our ICO.
BitcoinX: Are you focused in any specific geographic areas?
Jibrel Network: We’re registered in Zug, but operate out of NY, US. In addition, our team has extensive experience / network / contacts in the MENA region, which we have leveraged to sign pilot agreements with banks, non-bank financial institutions, central banks, capital market regulators and governments.
BitcoinX: For those who have read your whitepaper and other info, is there anything else you want to add to convince them to participate?
Jibrel Network: If you have any questions, join us on telegram – we’re very responsive and love engaging our community!
