With more and more companies and even countries embracing cryptocurrencies it’s just a matter of time when they become a new standard for any financial relations. This process is now unstoppable, but it is also laying the ground for even more game-changing thing — smart contracts, a program code that automatically performs some actions when predefined conditions occur.
While industry leaders are already aware of the benefits that smart contracts may bring to their businesses (full transparency, saving costs and time, raising trust in a business environment, and many others), most of them prefer to stand aside, due to associated risks and lack of technical expertise. Jincor is a platform that will allow any business to accept smart contracts and cryptocurrencies easily with no legal, technical, or operational complications in a cost-efficient manner.
Apart from being a piece of software that solves essential problems, Jincor is also an infrastructure, a private permissioned distributed ledger based on non-mining consensus algorithm, that allows to create the smart contracts of the highest level of confidentiality. And that additional level of security is an extremely important feature for any tech solution that suppose to store any business-related information.
The project’s token sale starts on the 1st of December. So far, the team has built the core of the product and it is now being privately tested by more than thirty companies. The public beta launch is scheduled for the late November and up to now, around 300+ businesses from all around the world have joined the waiting list to give it a try.
Why the Contributor Account?
As a part of the ICO preparation, Jincor has launched Contributor Account to enhance the project’s contributors’ user experience. Setting up an account on Jincor website takes a few moments.
Once this is done, one is obliged to go through the ID verification process to comply with KYC/AML requirements. It allows Jincor to meet the standards of regulators and licensed crypto exchanges and also provide explanations of its funding sources to banks.
KYC stands for “Know Your Customer.” It is a term used to describe how a business identifies and verifies the identity of a client. AML — standing for “Anti-money Laundering,” it is a set of procedures, laws or regulations designed to stop the practice of generating income through illegal actions. Netverify Service, a trusted and accredited identity verification provider, which list of customers includes Coinbase and Airbnb, has helped Jincor to implement this feature.
One of the main advantages of the Jincor Contributor Account is its intuitive and user-friendly interface. After setting up an account, crowdsale participants will get access to a personal dashboard which allows them to track all the activities related to the project’s support — whether it’s a personal or partner’s contribution.
Contributor’s funds and personal information are fully secured with the two-factor authentication with Google Authenticator. With these features, users can have peace of mind that their funds are safe. We highly recommend that you open your Jincor Contributors account to ensure you are well-prepared for one of the most legally transparent and exciting ICOs in the field. Jincor ICO starts on the 1st of December.
Images courtesy of Jincor