Today, JDX Coin announced that they have selected the Hedera Hashgraph public distributed ledger platform upon which to build their JDX token ecosystems in three phases. JDX Coin exists to monetize rare, White Jade Antiques that have been hidden from the world for over a century.
JDX Phase 1 monetizes four rare white jade antiques from the Han Dynasty. 100,000 coins will be minted based upon a collection value of 100 million, USD.
Phase two will be to auction off an entire collection of pieces and mint their associated tokens in real-time. Bidder and all antique attributes will be immortalized on the Hedera public ledger and tradable that same day.
Phase three will introduce a currency, a debit card, and a revenue model. The JDX coin will be used throughout the world for micro and macro payments.
The Hedera platform offers a public, distributed ledger that enables anyone to easily develop secure, fair, fast, globally distributed applications. The speed and security of Hedera will make the JDX Coin project possible. Asset backing is the Holy Grail of cryptocurrency. JDX Coin believes this combination of asset-backed token technology and one-of-a-kind, rare art delivers a compelling value proposition.
“I believe Hedera will be the largest, fastest, and most secure network in the world and be the preferred platform to build top-tier decentralized applications,” said Charles Robinson, CEO at JDX Coin.
“Tokenization of assets, especially highly valuable ones where provenance and ownership records are critical, is a perfect use-case for distributed ledger technology and Hedera in particular,” said Edgar Seah, Head of Asia Pacific Region at Hedera. “JDX Coin is leading this charge, and we are excited that they have chosen to build on the Hedera platform.”