Does the name Smart contract based on Blockchain Technology make you tense? Are you finding it too hard to implement it? Worrying about the legalities of it?
Presenting to you – Jincor platform with a Beta product already out, making execution of the Smart Contracts a child’s play!
The product has been in development since May 2016. Currently there are around 30 companies using Jincor’s Beta product across the globe. Once the pre-sale is over the Jincor beta will be made open beta and will be made available for trial across 150+ clients.
Beta features:
As we are talking the Beta Product functionality of the Jincor product includes:
• Company registration,
• Sending invitations to employees,
• Defining their functional roles within the organization,
• Secure enterprise messaging in direct chats or end-to-end encrypted public and private channels.
Apart from the above features it is possible to edit the company’s public profile, establish new business contacts with our built-in search by location and industry, etc.
The full feature set of Jincor will include corporate Cryptocurrency accounts with multi signatures, smart contract templates, which will make it possible for companies to transfer all the legal and contractual relationships into a trustless Blockchain environment. Also, a decentralized arbitration system, which will allow settling disputes arising with the execution of smart contracts within the digital jurisdiction.
- A recent Cambridge university study estimates close to 5.8 million people now use Cryptocurrency wallets around the world.
- Close to 100, 000 merchants including but not limited to Microsoft, PayPal, Intuit etc. are on the way to accept/trust Bitcoin as a means of payment
- According to a recent Accenture report, Investment Banks alone could save up to 12 billion per year by adopting Blockchain and smart contracts.
- According to Bitlegal, only 62 countries currently allowing the usage of Blockchain technologies around the world.
These factors point out a huge vacuum in the field of Smart contracts based on Private Blockchain. Here is where Jincor enters the picture, it includes:
1. Regulatory compliant crypto-asset transactions for business – If a company uses Cryptocurrency in business, it means lower transaction fees, high speed processing and zero frauds. Then what keeps them away from using it? Answer is, anonymity, which cannot go hand in hand with taxation and accounting of the organizations. At Jincor companies will be able to use verified digital wallets to carry out transparent and traceable b2b Cryptocurrency payments, knowing exactly who they pay to with “know your customer” principle applied.
2. Easy-to-use and legally binding smart contracts – Smart contracts can help big companies save billions of money yet they are not implemented and why? Because they are expensive and too complex, shall we say in technical terms to implement otherwise? To address this, Jincor will provide corporate smart contracts templates, which will bring down the cost of their implementation from approximate 5000$-7000$ to roughly 100$-150$ per contract by removing the need for actually programming them.
3. Decentralized Arbitration system – At present only 62 countries allow the usage of Blockchain technologies around the world and even their smart contracts are not regulated. In short, it means that if you have a smart contract with a business partner and you have some sort of disagreement/dissatisfaction with some of his actions, there are not means virtually to uphold your rights, as there are not regulatory bodies monitoring the smart contract. Jincor capitalizes on this by providing a decentralized arbitration system, where organizations will be able to file a claim related to smart contract performance and get an unbiased judgment of several arbitrators.
The long term goal is to build private Blockchain and the platform that will make it possible even for a small kid to register in Jincor ecosystem, initiate the smart contract and pay to a supplier.
Website: https://ico.jincor.com
Whitepaper: https://jincor.com/ru/whitepaper