1. Organizational Build-Out

Focus on cost-savings, & stabilization of team size

Vision & Goals: Jibrel’s primary goal is to build out a platform for tokenized securities, incorporating JNT and building a utilized token system. To the first point, we are pleased to see great strides in the technical, legal, and business components of Jibrel.com. To the second point, we are continuing to push regulators to allow us to incorporate JNT into our product offering. JNT integration is an uphill battle. However, incorporating JNT into the tokenization of assets is one of our highest priorities, as it is the realization of the vision outlined in the Jibrel White Paper. In that document, we outlined our vision for tokenizing financial assets. At first, we sought to fulfill that vision through developing Jcash, but there were significant competing products already available and as a result, no demand for our products and for JNT. Ultimately, if we want to create demand, we need to provide unique offerings (e.g., equity in coveted startups). This need for demand through unique offerings is the reason for the recent focus on Jibrel.com. By creating that demand, we can achieve our JNT goals and the goals of the white paper. For more information on Jibrel’s vision, check out the Jibrel Founders Q&A video. Particularly relevant sections include how things have changed for Jibrel in the past two years, in addition to how Jibrel stands out from the other crypto projects in the ecosystem.

Financials and Cost Savings: In support of the primary goals mentioned above, our secondary goal is to ensure our raise and cashflow remains sufficient to deliver on the white paper. For that reason, we have been patient as the ecosystem evolves. We currently have 4–5 years of runway. That said, once we have a demonstrated and implementable use-case, we will need to deploy additional cash to support it (e.g., marketing). With that eventual increase in spending, we have a run rate of approximately 2–3 years. We seek to successfully produce and market products with viable use cases within the required time frame. With that in mind, our focus is on the following:

Improving productivity

Keeping costs down

Refining a marketing approach at a small scale, in advance of making a large-scale marketing push on in-demand, monetizable products

With that in mind, the total number of full-time team members is now below its all-time high. Thus, the current focus is on improving the productivity and cost-efficiency of the existing contributors.

Relatedly, Jibrel undertook a number of cost-saving measures this quarter. With the departure of several full-time team members, the company has been working with an expanded array of independent contractors, in specific project areas chosen for the proper fit and increased cost-effectiveness. Further, Jibrel relocated its New York office, resulting in significant expense reductions. Overall, the cost-savings from such decisions will be re-invested into the project in the form of marketing and related growth activities. For more information on cost-savings tied to increased growth and marketing, check out Yazan’s comments on efficiency in the Jibrel Founders Q&A Video.

Jibrel members come from a wide variety of professional backgrounds

Demographics: The Jibrel founders are proud of the team they have built out. Members come from Fortune 500 companies, popular blockchain and cryptocurrency projects, and well-known tech startups. 14% of our team members are women — which, while not entirely ideal, is a significant improvement compared to the 37% of blockchain startups with zero female employees. With a median age of 32, and an average of 10 years of work experience, 85% are college-educated, and 45% have master’s degrees or above. Together, we speak a total of 8 different languages. We have consciously cultivated — and will continue to improve on — a rich diversity of not only products and strategies, but also languages, cultures, genders, educational backgrounds, and perspectives. In a rapidly-changing industry, it is multiformity that will make us capable.

Productivity: As mentioned above, the headcount has gone down slightly since earlier this year. This relatively flat member growth is despite the pending launch of the Jibrel.com equity tokenization platform, and all of the work that this entails. That said, the average tenure of Jibrel team members has increased (with several key hires made earlier this year). Essentially, as the team matures as a cohesive unit, the focus is on improving the overall productivity of the existing team. For more information on the Jibrel team, check out the Jibrel Founders Q&A Video, including what attributes we look for in prospective engineering hires, and how we seek to manage team communication effectively in a remote environment.