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  • Authors:

    Vladislav Kirichenko Vagan Abelyan Andrey Degtyaruk

    CEO (business@jincor.com) COO/CFO (business@jincor.com) CTO (tech@jincor.com)

    Summary:

    1. Introduction

    1.1. What is Jincor

    1.2. Context

    1.3. Organizations

    1.4. Participants

    2. ICO

    2.1. Current status

    2.2. JCR token

    2.3. ICO structure

    2.4. Roadmap

    3. Jincor Architecture

    3.1. Overall structure

    3.2. Core

    3.3. Auth

    3.4. Companies

    3.5. Messenger

    3.6. E-Documents

    3.7. Cryptocurrency wallets

    3.8. Smart contracts

    3.9. Arbitrage

    3.10. Architecture overview

    3.11. Risks

    4. Market

    4.1. Target market

    4.2. Business model

    5. Legal structure

    6. Conclusions

    mailto:business@jincor.commailto:business@jincor.commailto:tech@jincor.com

  • 3

    1. Introduction

    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.

    1.2. Context

    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

    institutional limits.

    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.

  • 4

    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.

    1.3. Organizations

    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

  • 5

    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

    for:

    Paying Jincor fees;

    Intercorporate payments;

    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.

    1.4. Participants

    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.

  • 6

    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.

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    2. ICO

    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

    campaign.

    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

    include:

    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

    jurisdiction.

    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

    cryptocurrency.

    JCR tokens are developed on Ethereums blockchain and conform to the ERC20 Token

    Standard.

    https://jincor.com/

  • 8

    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).

  • 9

    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.

    2.4. Roadmap

    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.

  • 10

    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...

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