Here's a rundown. Essentially, Jibrel Network is aiming to provide a gateway to make cryptocurrency more accessible and open to the mainstream economy. Their token - JNT - works as a bridge between cryptocurrency and "CryDRs" - cryptocurrency tokens with a 1-1 fiat ratio. The logic is this - for crypto to go mainstream, tokens will be needed which are tied to less volatile currencies - you pay rent in USD not Ethereum for example. CryDRs function as an analog of fiat currency - they are tied to a 1-1 ratio with USD, Euro, etc. However, CryDRs are purchased with JNT - JNT is the bond in which CryDRs can be purchased - or what bridges these CryDRs to the crypto world. In other words, as more people use CryDRs, the demand for JNT increases. JNT is what bridges the volatile crypto world to the less volatile CryDR one. So why is this important and what makes this big? Well, right now there is another token that accomplishes the same function: Tether (USDT). Tether basically functions as a way to hedge your funds against market volatility. During this last crash, Tether printed millions of Tether tokens, all tied to a 1-1 ratio with the US Dollar. However, Tether rests on the assumption that there is a real USD value behind each token. The assumes that some bank or institution is issuing USD to Tether - and that Tether is switching that into a token. This is most likely not the case. There has been immense speculation and a lot of fear over how Tether is actually minting their tokens. Many people believe that the next catastrophe level crash for crypto will be caused as the lack of official backing behind Tether prevents a complete sell off. As of now - people are able to safely hedge during market volatility with Tether - which prevents a sell off towards USD.
So here is where Jibrel Network comes in. They are audited by PwC (top 4 accounting firm) and New Alchemy (smart-contract auditor). They ease the anxieties around Tether by providing an audited fiat token in the form of their CryDRs. But this is only one aspect of Jibrel. They have also created an enterprise grade wallet - with security and functionality. Their wallet aims to ameliorate the issues with currently existing wallets - mainly the compromise between usability, security and functionality. Jibrel has created a solution that combines a great mix of the three without sacrificing any of the above attributes.
Jibrel also recently announced that they are creating an enterprise grade blockchain explorer - basically a Google for the blockchain. jSearch will compete with other similar projects (Nebulas - NAS) for example, while being only one facet of the Jibrel platform. So Jibrel is aimed at institutional investors. Their targets are banks and other financial institutions. They want to bring crypto mainstream and bridge the volatility of the crypto world with the mainstream economy. Their team is composed of many former leaders of large accounting firms. They have Don Tapscott as an advisor, a huge name in blockchain. The only other project he advised is ICON (ICX) - Korea's national blockchain. ICX saw a meteoric rise in price this past month and will continue to grow. The are also advised by the previous COO of the Soros Fund - who decided to leave his job at the Soros fund because he wants to work on the Jibrel project. These are huge connections that will be able to pull a lot of strings for mainstream adoption. Jibrel Network already held a huge conference in South Korea with some of the biggest names in blockchain. Their ability to do that speaks to the amount of money they have behind the project. But the most exciting partnership was only recently revealed. They announced that they have partnered with the Maktoum Family (the ruling family of the United Arab Emirates) to pilot jCash in the UAE. The Maktoum family is a behemoth in the MENA family - the are the ruling family of the UAE and Dubai. Big money in the Middle East has been looking for new projects as oil money as been running out - this is one of the reason for the supercity boom in the Middle East - these cities provide a way to hedge against the fading oil economy. Blockchain is obviously the next frontier. The United Arab Emirates has said they want to be the first country to be run on a blockchain by 2020.
For growth comparison consider Tether has a marketcap of ~$1,600,000,000. Jibrel's CryDr's are only a fraction of what the project does - if it comes to half of Tether's marketcap thats already an immense amount of growth. In my opinion there is no reason it can't surpass that.
Additionally, we're looking at a huge portion of MENA and Korean assets being tokenized on Jibrel.
As of now, JNT will derive value in 5 different ways. 1. JNT is burned as gas to fuel the network. 2. Speculation - what the market believes its value to be. This is the least important here. 3. CryDRs - these are one-to-one fiat tokens, backed by assets and real money. You need JNT to purchase them. They are audited by pricewatercoopers and solve all the issues with Tether. 4. Tokenization of assets. As more and more assets become tokenized on the Jibrel Network, as stated above, their corresponding value in JNT must be taken out of circulation. I.E. - if I tokenize $1 billion dollars worth of real estate - an equivalent $1 billion worth of JNT must be taken out of circulation. 5. The Jibrel DAO. In Q3, the Jibrel DAO will be launching. It will make the coin immune to massive pumps or dumps, as well as any recession. In the event a massive amount of people dump their JNT, the DAO will buy it back. In the even of a pump, the DAO will then sell off a portion of JNT to stabilize the price. You can see how this requires the DAO to have massive reserves of JNT on hand - as well as being an appeal to institutional investors who don't want to take a %10 loss in a day.
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