Jincor, which provides a platform to enables smart contracts and cryptocurrency transactions, has launched its ICO.
The company has issued 35,000 JCR tokens, 4 per cent of which were sold at pre-ICO in August, with the plan to raise $27m. Jincor has now distributed 76 per cent of the total offering on sale at a starting price of $1.
JCR tokens will play an ‘integral part in its business model’ and will act as a native currency for all the services provided by the platform according to the company.
Jincor calls itself ‘a secure, regulatory compliant and breezy-to-use platform’ based on private blockchain.
The platform will include smart contracts templates applicable for specific areas of business and countries legislation, easy cryptocurrency payments integration, and a digital arbitration system to work out the right judgements on unclear matters related to smart contracts performance according to its website.
It aims to integrate all companies, employees, and business assets into a unified blockchain ecosystem, with the view of making business relations fast, transparent, efficient, and reliable.
The company launched in May 2016 with $350,000 in seed funding. After pulling in 30 companies in closed beta, it raised $350,000 in a pre-ICO earlier this year. Jincor was co-founded by Vlad Kirichencko and Vagan Abelyan, both graduates of the Financial University under the Government of the Russia. Its advisory includes former BitAngels co-founder Michael Terpin, prompt.ly co-founder Richard Titus, and Jason King, founder of Academy, which is aimed at building the future of the blockchain by educating programmers.
Last month, Cryptocurrency trading platform Tokens raised $15m in an ICO from 1,799 contributors. While RoboAdvisorCoin , a robo-advisor dedicated to cryptocurrencies and digital assets, also recently launched its ICO.
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