ZUG, Switzerland, April 26, 2018 /PRNewswire/ --
Jinbi Token (https://jinbitoken.io/), a UK and Switzerland-based gold-backed blockchain business, today announces its crowdsale will commence on Friday June 1 2018. There will be 8.75 million tokens available to the public, with 1.25 million tokens allocated to a pre-sale starting Tuesday May 29 2018.
Jinbi (https://jinbitoken.io/) will be the first token to be partnered with a gold mining company. Each token will be assigned gold via smart contracts, 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 in an efficient, anonymous and high frequency manner. Jinbi is revolutionizing the security of gold assets - by using blockchain technology and implementing smart contracts - to increase the secure structure of the company.
The business holds a legal offtake agreement with the mining partner for the production of gold. Once the gold is produced, it will be refined by Produits Artistiques Metaux Precieux (PAMP) (http://www.pamp.com/) in Switzerland and Kaloti (http://www.kalotipm.com/). The Kaloti Refinery, which is based in Dubai, UAE is situated within the Free Trade Zone, has a strong track record in the gold refinery business. The gold will then be stored by an accredited and recognised Jinbi partner and inspected by Bureau Veritas, once per quarter.
Finally, once approved and verified, the gold will be linked to a smart contract and will be permanently registered on the blockchain.
Jinbi Token has a working relationship with International Precious Metals Limited, (IPM). IPM aims to achieve five bullion vaults globally and a total of 25,000 safe deposit boxes and one high grade precious metals refinery.
The token will be the first one, other than Pillar, to utilise the new Pillar wallet. The Pillar wallet is set to be the most secure ethereum token wallet which will be launched in early Quarter 3 2018. The Jinbi Token Co-Founder Andre Rafnsson is part of Twenty-Thirty AG, the team that created the Pillar Project.
Andre Rafnsson, Co-Founder of Jinbi said "Our expectations are to have 150,000 ounces of gold, linked to smart contracts by 2019.
"All bars produced are 24 carat gold with a fineness of 999.5. They are delivered brand new and the bars will be available in various sizes from 5g to 12.5kg. Once the gold is allocated it can then be delivered or stored."
Jinbi Token: https://jinbitoken.io/
Produits Artistiques Metaux Precieux (PAMP): http://www.pamp.com/
Pillar Wallet: https://pillarproject.io/
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 Mason West [email protected] or Adam Betteridge at [email protected] or Tina Fotherby at [email protected]
About Jinbi Token
Based in Zug, Switzerland with offices in London, 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.
About the ICO
The company will launch its pre-sale on May 29 2018, with the main ICO launching on Friday June 1 2018 and it will run until Thursday June 29 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 the 29-day 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 of 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.
He also holds a degree in International Business and Politics from the University of Liverpool.
SOURCE Jinbi Token