Authors - FoxICO ?· Communication: Day-to-day ... applications (dApp) ... channels, editing of company’s…
Post on 05-Jun-2018
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Vladislav Kirichenko Vagan Abelyan Andrey Degtyaruk
CEO (email@example.com) COO/CFO (firstname.lastname@example.org) CTO (email@example.com)
1.1. What is Jincor
2.1. Current status
2.2. JCR token
2.3. ICO structure
3. Jincor Architecture
3.1. Overall structure
3.7. Cryptocurrency wallets
3.8. Smart contracts
3.10. Architecture overview
4.1. Target market
4.2. Business model
5. Legal structure
1.1. What is Jincor
Jincor is a global intercorporate cloud ecosystem, which allows organizations and
employees within them to conduct decentralized cryptocurrency transactions, create smart
contracts, organize secure corporate communications, both internal and external, and
establish new business contacts all around the world.
In other words, it is a full-fledged digital jurisdiction based on blockchain technology,
which is created to help organizations overcome a range of existing institutional and
technological limits to boost their efficiency.
Each organization has its own needs, which correspond to its business area and
corporate structure, therefore, our solution deals with a few of the most common ones which
are vital to every company:
Communication: Day-to-day communication with colleagues and members of other
companies is essential for the accomplishment of short-term and long-term goals, synergy
and exchange of ideas and experience. Thus, communication belongs to a range of
fundamental needs, which should be satisfied using the most convenient, secure and
effective instruments. Jincor aims to meet this demand by creating a unified and well-defined
business environment for corporate communications with no state borders or industry and
Identification: One of the most important requirements for communication between
people is the ability to identify the opponent. Real-world examples of this could be legal and
identification documents. In Jincor every user has his own ID and acts on behalf of the
organization to which he is attached, and every organization can go through a verification
process to confirm its realness and credibility of public profile.
Brand exposure: Nowadays online footprint of organization affects on its clue elements
of competitive performance brand recognition and commercial goodwill. In the era of
digitalization companies always have to be in sight of their target audience and potential or
current partners, and Jincor addresses this need by public profiles of organizations, which are
available to any web user.
Contractors: A journey of a thousand miles starts with a single step, and any major
company starts with its first client. Regardless their of size and profile, companies have to
constantly interact with an array of external partners customers, suppliers, agents. Jincor
makes it easier for entrepreneurs to find and establish new business contacts with its built-in
search by location and industry.
Transactions: Liabilities between companies, salary payments, paperwork are all
necessary but complex processes for any organization. Jincor uses cryptocurrencies to make
these and many other business transactions instant and fully transparent.
Contracts: It was 1996 when Nick Szabo, American programmer and cryptographer,
built up a concept of smart contacts. Szabo described a smart contract as a computer
protocol which automatically executes deals with the help of mathematical algorithms and
provides a total control of their performance. This idea was further developed with the advent
of blockchain technology. On Jincor managers and employees of organizations can get
access to a smart contract construction set, which lets them create and execute smart
contacts on their own. While using complex technologies at the core of our application, we
made the product itself as simple as possible for our clients so that they don't need any
technical expertise at all to make the most of it.
In Jincor ecosystem companies are created with the use of decentralized web
applications (dApp) and Solidity DAO frameworks.
Each organization at Jincor gets a unique URL, public profile, list of participants and,
optionally, one or more cryptocurrency accounts.
The public profile (fig.1) is a kind of digital business card, which allows any person or
organization seeking for cooperation with the company to contact it with a single-click ease.
It provides basic information, such as trading name, type of business (private/public
company, non-profit organization, public authority or other), headquarters location, industry,
brief summary, website, contacts and social media links.
Figure 1. A public profile of organization in Jincor
Participants of organization have individual sets of rights and responsibilities, which are
reflected in Jincor ecosystem through their functional roles. By default, each employee gets
a basic functional profile, but it can be extended to administrator or other specific role at any
time, depending on current work arrangements with the companys management team.
If needed, employees can be divided into departments, which will be represented in
Jincor ecosystem in the form of small-scale suborganizations. This possibility makes Jincor
an ideal tool option for companies with complex corporate structure, consisting of multiple
branches and departments. However, we recommend to keep the companys structure on
Jincor as simple as possible.
Upon registration the companies can also get cryptocurrency accounts, which are used
Paying Jincor fees;
In-house payments (e.g., paying wages).
Jincor supports various cryptocurrencies and multisig wallets for further security.
Operations with such wallets require approval from a number of people responsible for the
wallet, just like an approval of both parties is required for setting up an escrow in a bank. The
number of approvals required for operations with a wallet can be customized by the owning
organization. The keys for approval are usually stored on different machines which makes
the system even more secure.
In the core of any organization there are people, who make its very existence possible
by investing their time, energy, money, knowledge and other material and invisible assets. In
Jincor terms, participant of organization is a person (founder, manager or employee), who
acts on behalf of the company in accordance with his/her rights and responsibilities.
To set up a company on Jincor it is required to fill in the following fields: the companys
ID, email and password. The same email can be used by a participant for different
organizations multiple times, but within a company it should be used only once. This
approach allows users to participate in several companies at a time, just like it often happens
in real life.
Figure 2. The list of participants of organization in Jincor
The list of participants of organization (fig.2) is accessible only by its members. This
kind of information is considered confidential and cannot be disclosed neither to authorized
Jincor users, who act for other organizations, nor to visitors of the companys public profile.
Participants, along with organizations, are able to have individual cryptocurrency
accounts, that can be used for delivering payments, getting wages, dividends or other
financial gains. Regular transactions based on a set of well-defined elements, such as a list
of shareholders, dividends distribution policy, labor contracts, loan agreements and etc., can
be easily organized on Jincor with the use of smart-contracts, which allow to eliminate the
human mistake factor and build the utmost transparent and fair relationships between
employers, employees and other participants of Jincor ecosystem.
2.1. Current status
Jincor team has been developing ecosystem since May 2016, and at this moment is in
stage of closed beta testing. Currently, Jincor has the following features: company
registration, sending invitations to employees, defining their functional roles within the
organisation, corporate messaging in direct chats or end-to-end encrypted public and private
channels, editing of companys public profile and establishing new business contacts with
our built-in search by location and industry. Public beta-testing of the platform, which will be
available on jincor.com, is slated for September 2017.
2.2. JCR token
In order to further the development of the platform, reach breakeven and get to the
global market as soon as possible we are going to raise extra funding by running an ICO
Jincor will issue 35,000,000 JCR tokens, most of which will be put on sale. The base
cost of tokens will depend on the popularity of the platform, and their holders will be able to
share the success of Jincor by getting permanent progressive income.
In the future, JCR tokens will be essential for the proper platform experience. Whereas
it is free for organizations to use the basic functionality of Jincor ecosystem, some features
will be available for a fee, which can be paid in JCR tokens only. These premium features
Digital verification of companies;
Setting up enterprise and individual cryptocurrency accounts;
Getting access to a range of financial instruments, such as bills of credit, colls,
overdrafts, factoring and etc.;
Using a construction set for creating and execution of corporate smart contracts
(based on labour, property, contractual and other relations);
Appealing to a decentralized arbitration system for litigation within the digital
To sum up, JCR tokens will serve as a local digital currency, which can be used for
paying Jincor fees and mutual corporate payments, just like any other popular
JCR tokens are developed on Ethereums blockchain and conform to the ERC20 Token
2.3. ICO structure
Jincor will issue a total of 35,000,000 JCR tokens, 76% of which will be put on sale at a
starting price of $0,5 during the ICO, which will start on November, 1st, and another 4%
during the pre-ICO, which will start on August, 21st, with a discount of 50% (at a price of $0,25).
The remaining 20% will be distributed among bug bounty participants, Escrow & Advisors and
Jincor team for further development and research (fig.3 and 4).
Total emission: 35,000,000 JCR
Starting price: 1 JCR = $0.5
Figure 3. Distribution structure
Figure 4. Discounts for early buyers
Cumulatively, Jincor is planning to raise $350,000 during pre-ICO and up to $13,300,000
during ICO. Thus, the total amount of money we are planning to raise at the crowdsale comes
to $13,500,000 (fig. 5).
Figure 5. ICO and pre-ICO estimates
JCR tokens sold during pre-ICO and ICO will be automatically sent to investors wallets
from which funds were received.
The total amount of tokens in circulation is unknown, because unsold tokens will be
destroyed after the crowdsale.
After ICO Jincor will continue developing the platform according to the step-by-step roadmap
(fig. 6) with the account of raised funds.
Figure 6. 2018 Jincor roadmap
Every milestone is based on the previous and hence the order. For instance, it is
impossible to integrate electronic document flow when Jincor clients are unable to
communicate with each other. Analogously, creation of cryptocurrency accounts for
organizations and their members is impossible without blockchain. These accounts, in turn,
are an integral part of payments and smart contracts.
3. Jincor architecture
3.1. Overall structure
Jincor ecosystem is a combination of decentralized (dApp) and classic web applications
that let anyone create organizations and manage them on Ethereum's blockchain without any
technical insight. Jincor provides all the functionality that one might need while doing
business, including instruments for effective management, tools for improving online
presence, role management inside the organization, searching for new business partners and
connecting with them, intra- and intercorporate communications, bills in cryptocurrency,
payments, smart contracts. On top of that, third-party corporate applications can be
connected to the Jincor ecosystem in "single-screen mode". The structure of the
aforementioned functionality is best described in terms of modular architecture, which
includes the following elements:
Core a set of core smart contracts on Ethereum that set up infrastructure for other
modules. Its functions are: creation of smart contracts between different parties, such as
organizations or employees, creation of cryptocurrency accounts, creation of smart contracts
with JCR tokens and etc.
Auth open-source web microservice with JWT-based authentication. More on JWT:
https://tools.ietf.org/html/rfc7519. We would like to note that Jincor doesnt use blockchain
technology for everything, some of our services are classic web applications.
Companies classic web application used in Jincor for providing basic features, such
as creating of new companies, editing their profiles, sending invitations to employees and
managing their roles within the organizations. It also enables processing of queries related to
the search of other companies at Jincor.
Messenger a highly scalable decentralized communication platform for inter- and
intracorporate communications based on Matrix protocol (more on Matrix:
http://matrix.org/). Note that we use blockchain here only for identification purposes, but
never for message handling, as there is just no objective need for this.
E-Documents a decentralized module integrated with a user-friendly interface of
Jincor Messenger, which provides organizations and their participants with a structured
digital space for the paperwork management. With the help of this module, Jincor users are
able to share any working papers (delivery documents, bills, certificates and etc.) and sign
them with digital signatures while being confident in their safe-keeping and authenticity
thanks to the blockchain technology.
Cryptocurrency wallets 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 (e...