
The contract takes force as soon as both parties sign it with e-signatures and requires specific elements in order to be executed automatically. For instance, a first-order requirement is the presence of cryptocurrency accounts of those involved. In other words, the executable code should have unhindered access to the smart contracts objects. Besides that, all of the smart contract conditions should be described mathematically and have a clear execution logic, and this is the reason why the first smart contracts in Jincor will be based on the simplest corporate relations, which involve just a few elements. Given that the code has the full access to the objects of an agreement, its execution and compliance will be handled automatically with account for the fulfillment of the smart contract conditions. To sum up, smart contracts automate contractual business relations and provide their total performance. First of all (Q4 2018), Jincor team will create smart contracts for the following applications:
- Regular payments;
- Partner programs;
- Signed transactions;
- Business-to-business commerce.
Although smart contracts are executed in decentralized environment eliminating the human factor, it is important to realize that there are many cases which may require external interference, no matter how explicit the smart contacts are. For this reason we have developed a decentralized arbitration system aimed at settling disputes arising with the smart contracts execution.
Arbitrage. In case when the execution logic of a contract is not defined clearly enough, the parties to the agreement may be drown to a dispute. This is particularly so with the cases related to the real-world actions and goods. Offline, there are clear regulatory mechanisms for such issues: should the parties have any disputes related to the contract performance, they can always take legal action. The similar patterns should be implemented within the digital jurisdiction, too. For that very reason we created Jincor Arbitrage, which help settling disputes related to the execution of smart contracts.
Jincor arbitration system let the participants of ecosystem resolve arising disputes right there, within the platform. There are three arbitration levels in Jincor: the first requires participation of three arbitrators (i.e., organizations who take the final decision), the second requires nine trusted participants, and the third level involves twenty-seven organizations aside from the parties to dispute.
In order to preclude the possibility of bias and corruption element Jincor arbitration system keep the personalities of parties to the case (and the companies to which they belong) in the dark, so that the arbitrators considered just the facts of the matter. In compliance with the foundations of decentralized society the arbitrators are chosen with the use of mathematical algorithms, which analyze their digital reputation, competence domain and practical experience in the given jurisdiction and economy sector. With the view to motivate organizations and experts to attend the legal proceedings, Jincor arbitration system provides remuneration for arbitrators, which is paid by non-prevailing party on completing the process.
Within the digital jurisdiction of Jincor smart contracts will be available only to verified users. In common with real world, tainted reputation in the cyberspace will close any available space for irresponsible actors and hinder their further development.
Cryptocurrency wallets is a decentralized module which enables creating of enterprise and individual cryptocurrency wallets. Alongside cryptocurrency transactions these wallets open the door to a wide range of financial instruments used in business, such as bills of credits, overdrafts, insurance of payments and etc. Companies are able to create multiple cryptocurrency wallets for one account (enterprise or individual), which makes it even easier to organize bills and maintain book-keeping.
For further security it is also possible to create multisig wallets, which require approval from a number of people responsible for the wallet to get transaction processed.
Along with basic payment options Jincor cryptocurrency wallets also provide a full range of financial instruments, which one might need while doing business.
E-documents is a decentralized application (dApp), which is embedded in Jincor Messenger interface and allows to securely store, send and sign with digital signatures all kinds of electronic documents (Jincor ecosystem supports several authorized providers of digital signatures). All working papers, which are loaded into Jincor Messenger and signed with e-signatures, are written to the blockchain in order to guarantee their authenticity and save revision history. This application, as well as digital signatures, can also be used for signing contracts between the shareholders, employees and other parties.
Vladislav Kirichenko – CEO & Co-Founder
Vagan Abelyan – COO & Co-Founder
Tomas Kärner – CBDO & Legal Advisor
George Paliani – International Ambassador
Andrey Degtyaruk – CTO & Blockchain expert
Aidar Ibatullin – Middle Front-End Engineer
Artem Pikulin – Full-Stack Engineer
Khasan Erkenov – Product & Conceptual Design
Alexandra Samuilkina – Content manager
Anton Lysakov – Community manager
Alexandr Sedelnikov – Backend Engineer
Alexandr Isaev – Frontend Engineer
Alexandr Shaikhanov – Backend Engineer
Anastasia Balashova – Head of Marketing
Anton Atsekhovskyy – Digital Marketing
Vladislav Belousov – Community Manager
- Symbol: JCR
- Token sale opening date: 1. Dec 2017 a month ago
- Token sale closing date: 31. Jan 2018 in 24 days
- Concept: While existing solutions offer to solve just one problem at the time, their team build products, that will include smart contracts constructor, cryptocurrency payments, and even digital jurisdiction to work out the right judgements on unclear matters in smart contracts.
Website | |
Blog | |
Whitepaper | |
Slack chat (not available) | |
Telegram chat | |
Github |
- July 2017: Performing closed beta testing, launching an ICO campaign
- August 2017: Issuing JCR tokens on the Ethereum blockchain
- October 2017: Public beta launch
- November 2017: Invoicing & billing system implementation. Channel partner program launch
- December 2017: Finishing up the crowdfunding campaign and distributing JCR tokens among supporters. Listing on exchange platforms
- January 2018: 2000+ business customers. Rolling out mobile apps for iOS and Android
- April 2018: Getting to the global market, localization. Adding enterprise app integrations, digital verification of companies
- June 2018: Enterprise digital signatures integration
- Q3 2018: 3000+ business customers. Enterprise multisig wallets, blockchain asset transactions, B2E (business-to-employee) payments etc.
- Q4 2018: Enterprise smart contracts, decentralized arbitration system, blockchain-based corporate management, stock issuance and shareholders transactions, dividend payments.
Jincor is a platform which will allow any business to work with smart contracts and cryptocurrency payments easily with no legal, technical or operational complications and in a cost-efficient manner. Our rating for this ICO is 7.2 out of 10.0.
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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com