If you are doing a business involving heavy machinery and large or small products, you know how difficult it is to transport the logistics. And if you are doing international trading, it gets more difficult and complicated. In case of international trading, the customs department is overly restricting and even if your products arrive, it takes more time in the customs than the actual transportation time due to various security reasons. Then comes the trust issue in the logistics business. The business guy will not pay the dealer until the products have arrived and the dealer will not transport the products until the business guy pays him. The mistrust between the two creates a stalemate situation. And while transporting there might be some errors and some products might go missing. We also have to pay the middleman who transports the logistics from one place to another. Blockchain is the technology that has been developed where everything happens through a smart contract and it is a decentralized system where the contracts will be sent to everyone who are all associated with the blockchain. Thus, the blockchain removes any possibility of fraudulent acts. Jincor provides a platform based on the blockchain system, where you can just order the products you want through an app and the products would arrive safely to you and there will be direct payments between the dealer and the contractor.
What is Jincor?
Jincor is a decentralized blockchain system, where everything works through smart contracts. In Jincor, anyone can create an account and manage their own business and it allows anyone to work without any legal compliance and is cost efficient. Jincor enables people to work with cryptocurrencies in a transparent way. It is very to order your products through Jincor, where it digitally signs smart contracts between the dealer and the contractor and there can be no signs of fraudulent acts and the platform is secure and no one can hack the smart contracts. McKinsey report says that, around 50-60 Billion USD can be saved by using blockchain smart contract system.
But how well can we trust this smart contracts does not create any legal problems? The answer is Jincor has their own legal department in the background and they will help sort out any legal problems. Similarly, there is a problem with blockchain system is the identification of the buyer or seller and maintains anonymity. Jincor overcomes this problem by enabling the people to produce their authenticity and verification ID for them and their businesses.
How does Jincor work? In Jincor, the buyer can go through the platform and select the company in which they have to buy and can order products. After the purchase, each party has to sign in their e-signatures onto the smart contracts individually. The important thing is that, the people in Jincor should have a cryptocurrency wallet associated their account. After the contract is signed, the amount gets deducted from the buyer and the shipment will be delivered to the buyer and once the shipment delivers, the amount will be sent to the seller. So, both buyer and seller can’t cheat and do any fraudulent acts.
JCR Tokens
JCR tokens are the cryptocurrency, which is developed on Ethereum blockchain technology and conforms the ERC20 standard. These tokens will be used for the transactions within the Jincor platform.
JCR token ICO sale starts from Nov 15th 2017 and about 35,000,000 JCR tokens will be issued. About 4% of the tokens, was sold during pre-ICO and 76% of the tokens will be put on sale for a price of 1$ per token. Another 20% will be distributed among the team, advisors and others for further developments.
Conclusion
Every business has their own shortcomings and similarly in the logistics business also there are problems associated with trust, human errors and Jincor has developed a decentralized app based on the blockchain technology where there can be no fraudulent acts or human errors or any other shortcomings that might happen without the blockchain.
For more details visit
Website: https://jincor.com
Whitepaper:https://s3.eu-west-2.amazonaws.com/jincor-ico/whitepaper.pdf
Written by: karanj
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