Smart Contract and Cryptocurrency Payments for Businesses Through Jincor, Launching ICO
Jincor, Pte. Ltd., which develops a one-stop solution for businesses to adopt smart contracts and cryptocurrency payments with no legal, technical, or operational complications, has started a crowdsale campaign. The project’s team aims to serve over 10,000 businesses with its Open Beta by the end of the next year, and up to 20,000 within the course of 2019.
Jincor has launched a closed beta with its basic functionality, which is currently undergoing testing by dozens of companies. The Open Beta, that will become available at the beginning of December, has attracted in excess of 300 businesses which will test it and will include a basic labour smart contract template built on pre-alpha version of Jincor’s private blockchain. The template can be customized for the businesses needs of any industry and scale.
The full feature set of Jincor platform will include smart contract templates for specific industries, verified digital wallets for transparent and trackable b2b transactions in cryptocurrency, and also a decentralized arbitration system for settling disputes arising with smart contracts performance. Eventually, Jincor aims to integrate companies, their employees, assets and business partners into a unified blockchain environment with clear and well-known rules.
Vlad Kirichenko, Jincor CEO and Co-Founder, remarked: “We are humble and realistic about our development plans and revenue projections. Within the course of at least next 6-9 months we won’t be charging our customers for using Jincor at all, but as soon as by the end of 2018 we are planning to achieve a stable cash flow. In 2 years from now, we are projecting to have around 20,000 businesses registered in Jincor with 150 hires on average and $750 value of JCR tokens required per month. And by 2020, Jincor will become a self-sufficient business”
The company has put 76% of its JCR tokens on sale. The token price is $1 per 1 JCR; the ETH/JCR exchange rate is calculated automatically in accordance with the current ETH/USD rate. The crowdsale will last until the 31st of January, 2018, or until all the allocated tokens are sold and the hard cap of $26.6 million is reached. The soft cap is $2.5 million. Earlier this year, in August, the start-up held pre-ICO campaign, selling 4% of JCR tokens and reaching the hard cap in less than a week.