1. Organizational Build-Out

Non-Technical Dimensions: A Refresher on Jibrel’s Vision

At Jibrel, we are committed to delivering future-proof products that we believe will be essential in the evolution of decentralized finance. Since we started working on Jibrel, the blockchain space (as well as its interaction with the regulatory landscape) has evolved tremendously. That said, our vision and mission — as outlined in the Jibrel whitepaper — have remained the same:

We believe in a digital future and an open financial system, powered by emerging technologies.

Our core values include enabling:

Instant settlement of global transfers

Digitization of traditional financial assets

Interlinkage between the cryptocurrency space and the real regulated world

To fulfill this mission, we have been spending time on building infrastructure products that are proving to be essential prerequisites, based on our ongoing conversations with banks, regulators, and other financial institutions. These products include:

Jwallet

Jsearch

Jcash

Those allow us, our users, and our clients to connect to the Ethereum blockchain in various ways. For example, the offerings enable self-custody of funds, user-friendly access to blockchain data, and connection to APIs and backend features of the network — without being exposed to the volatility of the cryptocurrency market. Such core infrastructure products have been crucial prerequisites when approaching regulators who are generally more open to our technologies now, but who nonetheless prefer to see that the whole infrastructure and overall offering can be under their control. This has been particularly useful with our most recent interactions with the Central Bank of Jordan, where we are about to launch an initiative that will be discussed in this update, as well as in more detail throughout the rest of the year.

While our infrastructural components (such as Jwallet, Jsearch, and Jcash) are crucial technical and regulatory prerequisites to fulfill our vision, their marketability as standalone products is limited in their current states.

In addition to the above-mentioned infrastructural products, we have been fleshing out our approach towards a unified asset tokenization platform — Jibrel — that is borderless, asset-class agnostic, and customizable for different use cases. These use cases include, but are not limited to:

Debt (bonds and sukuk)

Equities

Real estate

Speccing out these use cases was only possible after intensive work with regulators, legal advisors, and banks — all of which have assisted us in setting up a framework for proposing previously unimaginable protocols, products, and services that we are very excited to be pushing out in the coming years. We are currently working with a diverse network of partners, which includes, to name a few:

GBSA (Gulf Bond and Sukuk Association)

(Gulf Bond and Sukuk Association) DIFC (Dubai International Financial Centre) Fintech Hive

(Dubai International Financial Centre) Fintech Hive CBJ (Central Bank of Jordan) Fintech Sandbox

We continue to work with a number of partners and regulators, to actualize various projects including our goal of creating a unified asset tokenization platform.

Each of our partners specializes in a different domain, which diversifies Jibrel’s approach while maintaining a focus on asset tokenization. This also brings us closer to realizing the vision of creating a frictionless ecosystem, powered by our smart contracts and network architecture- which brings us to the role of the most crucial stakeholder in this matrix: you, the participant in the ecosystem.

Promoting and incentivizing participation in a non-traditional ecosystem is not an easy task, as it requires a set of changes on a personal and on a communal level to realize the full potential of the regulated-yet-decentralized system that we are offering.

All transactions within the Jibrel ecosystem will either contribute directly to, or depend on, the sound economics, distribution, and demand of the network and the token. Fees on the network will be recycled towards the expansion and further utilization of the network, by incentivizing new and existing users to participate, generating demand for the token.

That said, we are excited to get the ecosystem up and running as soon as we have all the required approvals and technical assurances that the system will run as smoothly as possible and without any interruption.