Hi there,

The image is also a link to Jcash! Fiat currencies as ERC-20 tokens on the Ethereum blockchain.

Check out Jcash here

https://jcash.network/

Thanks!

Kambio Ventures, which plans to deliver the first fully-regulated capital markets solution for security tokens, join forces with Jibrel Network https://medium.com/@kambio/kambio-ventures-which-plans-to-deliver-the-first-fully-regulated-capital-markets-solution-for-5f484bf10a73

In order to be able to give examples, I made a screenshot of the Proof Of Solvency page, since the values can vary over time. My examples all refer to the screenshot which you can find here: https://i.imgur.com/4BDtwA2.jpg

Currently, 186.43 jEUR, 84.09 jGBP and 480.04 jUSD are circulating. Basically, this means that someone has sent ETH to Jibrel and received jCurrency tokens in return, so that they are now in use.

Whenever a jCurrency token is in circulation, it has to be backed by JNT. This can be explained best using jUSD as an example. At a current price of $0.10 per JNT, 4,800.40 JNT would be required to cover all 480.04 jUSD in circulation (JNT requirement = Circulating amount of jUSD JNT price). For currencies other than jUSD, these must first be converted into the theoretical value of USD at the current exchange rate, because the price of JNT is also in USD and only then the JNT requirement can be determined. Another example: 186.43 jEUR is currently in circulation. However, you cannot divide this amount by the JNT price, since it is given in USD, so that the theoretical value of jEUR in jUSD must be calculated first. At the time of writing, the conversion rate from EUR to USD is 1,1635. If you now multiply the amount of 186.43 jEUR by 1.1635, you get the theoretical value of 217.91 jUSD, which you can divide by the JNT price of $0.10. As a result, the JNT requirement for 186.43 jEUR would be 2,169.10 JNT what is almost identical to the 2,168.80 JNT shown in the screenshot.

Solvency required is the sum of all JNT requirements (2,168.80 for jEUR + 1,098.64 for jGBP + 4,800.40 for jUSD = 8,068).

In terms of liquidity, any value greater than 100% means that more than enough JNT are available to fulfil the solvency requirement. A large value indicates that more JNT have been pledged than would actually be needed. It can be calculated as follows: JNT Pledged * 100 Solvency Requirement.

jCash to fiat (or the other way round) by SEPA/SWIFT is not supported as of now.
However the team have stated several times that they are intending to implement these systems to make such transactions possible.

As there is currently not much information regarding the withdrawal of JCash via bank transfer, I cannot say whether JNT will be necessary for this or whether it will be burned.
I personally assume that JNT will not be burned, but will be kept by the Jibrel DAO to ensure a higher solvency.

The team's last statement was that JCash will be backed 75% by JNT and 25% by fiat. But I'm afraid I can't tell you if that's still the case. 
I think we'll soon get some medium posts explaining the latest developments and changes regarding jCash.

Well, the thread is still dead until these gentlemen think it is appropriate to go to serve their investors. Thanks again to Neuthor for his answers, which I suppose in a private and personal way - if he is not a member of the JNT team -. I, anyway, will continue to expose my doubts in this thread opened by the Jibrel Network team. Many of us do not believe that a medium as fast as the telegram is suitable, but rather a forum where exhibitions are more leisurely and are perfectly recorded in time for anyone to access and take advantage of them. It is possible in days, weeks, months, the JNT team reappears with their great words appealing that if things go crooked, they wait for us with open arms in the future, once we change our opinion. Actually, I have no idea how you can be so disrespectful, paint your inattention to the color that they paint. It really is an imposition difficult to assume at the investor level ... but hey, you do not have too many options after having fallen more than 90% from the price reached on its release to the market. It is evident that this position does not stimulate the Jibrel Network team enough to address the doubts that this may generate for those who, trusting in their good work and their project, have entered into it.

Well ... the matter: We have already seen the JCash toy, its solvency test, etc ... now well: Why can we create JCash? Do you accept that token somewhere? Some exchange, financial entity ... something? We go there, we overturn our ethers and exchange them for USEFUL currencies? Is that what we have to contribute as investors, not with what remains of our investment, but with other investors? In the month of AUGUST, a member of the team confirmed in this thread that JCash was ACTIVE. Like entering the link facilitated to make conversions, it only gave options for Switzerland, UK and Germany ... later, before the normal complaints that it was not like that, it qualified that it would be ACTIVE for users of those countries 3 weeks, after which it I would be for the rest. Is it active now? They consider active a token that is not accepted anywhere ... or is accepted in many and we are not well informed

With little hope that this consultation will be taken care of, I leave it in the thread for believing it to be of interest to the community ... appreciating that anyone outside the structure of Jibrel throws a little light on the matter, in case of being able to it. On the other hand, a suggestion: If Jibrel Network is not going to attend your official btctalk thread ... why do not you close it? While it is open, the disregard suffered becomes quite difficult to grasp.

A greeting and Thanks forward.

Ask me anything with Yazan & Talal
Jibrel Network Co-founders, Yazan Barghuthi and Talal Tabbaa, answer Jibrel Community questions in this video AMA
https://www.youtube.com/watch?v=jGm1pGmc-24&t=766s

Any opinion about what happened last night? Thank you.

We have seen many companies joining the hands of EEA because in this way companies will be getting more exposure and EEA team is working hard to bring the ethereum block chain as number one block chain in the world. Hope this might help the jibrel network to start developing further developments.