Jade City is at the forefront of jade gemstone tokenization, and today it unveiled its white paper. This document sheds light on how the platform aims to tokenize and democratize access to the jade market, valued at over $50 billion, via the forthcoming Jade City real-world asset (RWA) tokenization platform.
The white paper from Jade City outlines a fresh initiative that will usher in a new phase of RWA tokenization when it debuts in late 2024. It describes a unique strategy for RWA token economies and explains how Jade City will leverage its jade supply and value chain to produce sustainable revenues for holders of the Jade City Token ($JCT).
The platform for issuing jade-backed bonds enables users to utilize their stablecoins to earn tokenized physical jade at attractive interest rates. Users can trade the tokenized jade or potentially enhance their returns by engaging in gamified treasure chests, where they can win valuable jade stones.
Jade City’s profits stem from the purchase, processing, and sale of jade. This value chain is supported by the buying of jade-backed bonds and Jade City’s considerable existing jade inventory valued at millions of dollars. The profits are intended to be redistributed to $JCT token holders through a “buy and burn” strategy. The platform is crafted by top blockchain professionals to ensure safety, security, and transparency.
Jade City has teamed up with the proprietors of the globe’s largest jadeite mine, securing one of the most substantial jadeite reserves worldwide and establishing sales avenues with several of China’s leading jade distributors.
Further information regarding the platform and its tokenomics is available in the white paper accessible here.
Founded by James Bowater, Jade City is steered by CEO William Ralston-Saul and CTO David Atkinson. Ralston-Saul, a veteran in mining companies and cryptocurrency, is the founder of InCrypto Hub and organizes blockchain boot camps to educate others about this technology and its applications. Concurrently, he serves as the CEO of Jade Vault Ltd, which specializes in ethically sourced jadeite and aspires to build a significant jadeite inventory globally. CTO Atkinson is a distinguished tech innovator and the co-founder of Holochain, Holo, Rain, and Gild Lab.
William Ralston-Saul, CEO of Jade City commented: “Our white paper provides an in-depth explanation of how we will facilitate access to the jade market, currently valued at over $50 billion, to investors who have previously had no means to participate. Jade exemplifies how real-world asset tokenization can transform a traditional market, making it accessible and profitable for anyone looking to engage.”
Revered as a precious gem in Asia for millennia, jade has seen a rising demand. The jade jewelry market in China is currently estimated at around $50 billion, having grown tenfold since the early 2000s, and now even outstrips the diamond market in China. Historically, however, jadeite has been a gem available to only a select few, riddled with issues like black market dealings, inadequate mining practices, and political challenges. Jade City is uniquely positioned to democratize access to the global jade value chain, employing blockchain technology to ensure transparency, accessibility, and trust within one of the largest gemstone industries.
For further information, please visit https://www.jadecity.io.
About Jade City
Jade City is a platform dedicated to democratizing the jade value chain via DeFi and tokenization. It opens the doors to the highly profitable $50 billion Jade market for a global audience.
Co-founded by the owners of the world’s most extensive jade reserves, Jade City’s initial objective will focus on monetizing this unique asset to generate revenue. Profits will be directed towards buying back and burning the token, thus directly benefiting token holders.
Media contact: [email protected]
Disclaimer: The information in this press release should not be construed as a solicitation for investment, nor should it be seen as investment, financial, or trading advice. It is highly recommended that you conduct due diligence, including consulting a professional financial advisor before engaging with cryptocurrency and securities.
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