Jibrel Network to Roll out Jcash Crypto Stablecoins; jUSD, jEUR, jGBP and jKRW
The Jibrel Network Has Just Launched Jcash To Bridge The Crypto And Traditional Economies
The volatile market makes it a little challenging when allowing users to trade their assets, especially for the blockchain projects. At the moment the market is having very many untrustworthy options for the crypto coins based on the current stability rather than the speculation aspect.
Even with the most faithful enthusiasts in the market they still have their own concerns about the transactions of assets within the blockchain technology.
The main fear among the investors is the value of the digital assets being wiped in a whim of the market. It is precisely the issue that Jibrel Network plans on solving with the use of the Jcash.
The Previous Attempts In The Market Have Not Worked
The concept that is surrounding the stable-coins is not new in the crypto market. The 1:1 pegs initially started when Tether USDT was launched back in 2014. It is the very first venture that was created aimed at bringing the gap that exists in asset value. The only problem is Tether has been caught in several controversial since the inception of the company.
Some of the examples include the lack of proper asset audits, the manipulation of BTC and the unplanned token generation event.
Other projects exist in the market; the only problems are they have not been able to gain the needed market share that is needed to compete with the leaders in the market. But still, the mission of creating a stable crypto market is an important concept and is worth taking on several projects. With the rapid increase in volatile that has been experienced in the market, then for sure, the next step is ensuring stability.
The Solution In Jcash
The team that is behind the Jibrel Network is mainly focused on rolling out a number of tokens that have been pegged to some of the major fiat currencies. The Jcash has been designed to consist of jEUR, jUSD, jKRW, and jGBP. This is already being considered a major improvement that is being made over the current solutions, which has only been able to offer the US dollar as the only pegged option.
The Jcash has been designed as a multiple fiat pegged option which will be in a position to enable the different business in the market around the globe to be in a position to reap the benefits that exist in smart contracts. At the same time, the companies will be able to avoid the characteristic volatility that is present in the blockchain technology.
It is the first of the broader asset-backed token solutions that the Jibrel Network has been working on developing. The company also plans on having various commodities such as real estate, debt instruments and several traditional financial assets that will make investing much more comfortable.
And Advancing On The User Adoption
The network is working around the clock to ensure they provide the needed tools for the trade; they are committed to providing users with a range of tools that will be able to advance in the possibility of user adoption around the globe. The Jibrel Clear has been designed as a product that will be able to conduct an advanced AML/KYC check on the different blockchain addresses.
Additionally, the platform will also be in a position to allow regulators, banks, and any other user to have easy access to the detailed analytics for all the balances and transfers that are made. What all this means is that it will be able to allow the different projects in enhancing regulatory compliance; thus, you should expect to see greater user adoption within the market.