Jade City, a blockchain platform focused on tokenizing the jade gemstone market, on Tuesday launched its MVP (Minimum Viable Product) with the aim of making the jade industry more accessible and transparent. I did.
The platform plans to issue Jade-backed bonds, offer up to 24% annual yield on tokenized physical Jade, and support tokenized Jade trading, earnings, and speculation. .
The project, led by Holochain co-founder and CTO David Atkinson, aims to streamline the complex jade market by introducing decentralized finance (DeFi) principles to a traditionally opaque industry .
“The Jade City platform and token ($JCT) has gone from a broad concept to a functioning platform in 10 months,” said CEO William Ralston-Saul.
Users can access the testnet version of the platform to explore its features and provide feedback before full launch.
Jade City’s efforts are supported by partnerships with some of the world’s largest jade mines, giving us access to millions of kilograms of ethically sourced jade.
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The partnership aims to address long-standing issues in the jade market, where transparency has been hampered by limited access, unregulated practices and black market activity.
The jade market in China alone is estimated at $50 billion annually, and its value has increased tenfold over the past 20 years.
Jade City aims to provide transparency and accessibility using blockchain technology, and profits from Jade-backed bonds will be returned to Dollar Junction holders through a “buy-and-burn” model.
As interest in tokenized real-world assets grows, Jade City’s approach to providing access to valuable physical assets through digital platforms will be featured at Benzinga’s Future of Digital Assets event on November 19th. will be a topic of discussion. There, industry leaders explore tokenization and tokenization trends. The role of blockchain in reshaping traditional markets.
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