white paper - jgxcoin · the secured users to watch, enjoy, eat, and appreciate their leisure...
TRANSCRIPT
WHITE PAPERVersion.3
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INDEX
1. Abstract
2. JGX Coin
2.1 JGX Coin
2.2 JGX Coin Vision
2.3 JGX Market Background
3. JGX Ecosystem
3.1 Definition of Coin Ecosystem
3.2 Coin of Exchange Platform
3.3 Business Model
4. Marketing Strategy
4.1 Increasing Continuous Value Strategy
4.2 Benefits for JGX Users of JGX Exchange Platform
4.3 Marketing Strategy Map
5. JGX Technical Stack
6. Roadmap&Plan
6.1 Roadmap
6.2 Token Sale Plan
7. JGX Formation
7.1 Foundation&Company
7.2 Exchange Platform
7.3 Consortium
8. JGX Team
8.1 Executive Team
8.2 Technology Team
8.3 Advisors
8.4 Partners
9. Disclaimer
10. Appendix
10.1 Arrangement of Terms
10.2 Reference
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1. Abstract
Now is the most adventurous timing for global finance and IT industries. New
technologies such as Blockchain and Cryptocurrency offer countless opportunities
to lead us all to the next level of revolution.
JGX Coin is a cryptocurrency for the G-Plex platform that uses smart contracts
to secure clear transactions with Blockchains. It performs the essential function
of currencies in versatility and strong business profit model.
We have led G-Plex, a legitimate, sustainable and profitable platform. To enjoy
and pay in this platform, users will need JGX Coin token.
JGX Coin's ICO will enable the development of the JGX Coin platform
network. And it will bring a extensive vision for industries around the world.
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2. JGX Coin
2.1 JGX Coin
JGX Coin has been developed to be a main coin of global Exchanges
such as Philippines, Thailand, Myanmar, Laos, Cambodia of southeast Asia
region, Dubai.
However, JGX does not aim to be satisfied with the coin’s ability to trade
key currencies or other alt-coins, but JGX also possesses its’ unique and
powerful platform of ‘versatility’ and ‘profit model’.
JGX Coin has been developed as a coin that secures users based on
‘media contents’, and has a powerful ‘lifestyle platform(G-Plex)’ that enables
the secured users to watch, enjoy, eat, and appreciate their leisure activities,
and enhance their loyalty who have experienced this platform once by
keeping JGX Coin or by receiving compensation with simple activities,
leading a new coin paradigm that makes the users to stay in G-Plex's
ecosystem.
2.2 JGX Vision
Most coins are concerned about which competitiveness to develop in
order to survive in the coin’s ecosystem. So various coin companies develop
a lot of technical features and solutions to be ahead of the game, and also
to have a stand-out feature to their system.
However, JGX has created an environment which is the Exchange by itself
that underpins the ecosystem called coin and by constructing the
accompanying infrastructure. JGX will play a pivotal role in the environment
where the coins that constitute the ecosystem and the users can live
together organically.
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2.3 JGX Market Background
JGX has a strong presence in emerging markets that pursue industrial and
economic development policies, attracts foreign investment, capital, and
infrastructure in Central and Southeast Asia. JGX is planning and executing to
advance and commercialize the G-Plex Platform with a strategy to preoccupy
these emerging markets faster than anyone else.
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Philippines, Thailand, Myanmar, Laos, Cambodia, Vietnam, Philippines, Malaysia,
Singapore.
Southeast Asia, which has a total population of 650 million on 5,000,000 ㎢
of territory, is an economic territory with 2 trillion and 400 billion dollars of
GDP. With continuous investment in trade and expansion of domestic markets,
the region shows a growth rate of 5% per annum since 2003, and we
anticipate an annual growth rate of 5% in the future.
As a geographic center of Southeast Asia, as well as a center of culture and
trade, Thailand leads Southeast Asia in cultural and trade terms and has great
influence on neighboring countries. It is also an important starting point for
businesses entering Southeast Asia as it builds the most reliable international
business infrastructure.
Myanmar, which the UK used as their advancement base into Asia in 1885,
remained an authoritarian regime until 1988 when it was transformed to a
market economy and a democratic government in 2011, to present itself as a
new emerging market. As Warren Buffett calls it "the last remaining blue ocean
in Southeast Asia," Myanmar is rich in natural resources and has a high
potential to develop into a strong economy in the future.
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3. JGX Ecosystem
3.1 Definition of Coin Ecosystem
What does the word "ecosystem" in nature conjure up? Humans artificially
create safaris to study nature's ecosystems, create nature there, collect
carnivores such as lions and tigers with strong powers, and herbivores such
as deer and rabbit. We also create an artificial safari. However, no one calls
this safari an ecosystem.
In order for an ecosystem to be created, an environment for living
creatures of the ecosystem must exist. Strong animals lead the ecosystem
and order is established through repetitive competition and cooperation
among the animals.
The same can be said with the ecosystem of coins. Once the coins are
settled down under the structure ”the Exchange”, the users also naturally
follow up into the ecosystem. Good coins are frequently selected and
utilized by users and their value increases as a consequence, while coins
that are not selected by users are removed from the ecosystem.
For example, let's assume that we are building a new urban ecosystem.
When a government wants to build a new city, the foremost thing is to
build the infrastructure to build the new city on, construction of roads,
power generators, communication networks and residential areas fall under
the category of the infrastructure. If the infrastructure market has been
prepared with detailed forecasts and plans to let users use them safely and
conveniently from the beginning as planned, not a spontaneous growing
city, the city will naturally attract users and the consumer industry will
develop through population increase, and various contents will come in, and
create a new ecosystem.
The JGX Foundation has created the basic infrastructure to create a coin
ecosystem, a platform of Exchanges, with thorough planning and have
constructed the main coin JGX to be traded here.
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3.2 Coin of Exchange Platform
Typical Exchange Coins that are commonly used are BNB of ‘Binance’, HT
of ‘Huobi’, BIX of ‘Bibox’, OKB of ‘OK’, CONI of ‘Coinbene’, and KCS of
‘Kucoin’.
These Exchanges coins offer a business model based on the concept of
dividend, company profits, and various benefits such as commission
discounts, so the users prefer the Exchanges with their own coins. In
addition, the number of users who buy in-house coins increases on the
Exchange, so the amount of transactions increases and the value of the
coins increases.
The JGX Coin will be used as the main coin from at least six to ten
cryptocurrency exchanges in the future and will benefit from mutual benefits
between Exchanges and Coins due to the various benefits offered to coin
users of JGX. The increase in the value of the JGX Coin will be a natural
consequence.
In addition, JGX Coins has various and powerful business models and
profit models that are already developed and are in business such as ‘JGX
Media Center G-Plex’, ‘JGX Multi-Pop Street G-Plex Pop Street’, ‘JGX Online
Shopping Mall G-Plex Mall’, ‘JGX Home Shopping Integration Platform G-Plex
HomeShopping’, ‘JGX Mobile IPTV Integration Platform G-Plex TV’, and ‘JGX
Logistics/Shipping/Delivery G-Plex Logistics’.
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3.3 Business Model
The business models of JGX are carried out through each 'Integration
Platform’. All users of JGX's differentiated and powerful platforms are
required to purchase JGX Coins from the JGX Exchanges to transact them
into the JGX Cash.
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1) JGX Media Center, G-Plex
JGX Media Center is a complex cultural content space that combines broadcasting,
entertainment, and media.
Starting with the Flagship Center in Korea, JGX Media Center, G-Plex will be
established in Shanghai, Beijing, Thailand, Myanmar, Australia and Melbourne New
Town to produce and send out all JGX media contents, and it will become a
cultural content factory representing the country in collaboration with all JGX related
entertainment companies, media partners and distribution partners.
Korea's No. 1 JGX Media Center is expected to establishing in Seoul's Ewha
Woman’s University Station and it be established in a total of 11 floors, about 2.50
hectares. There is an outdoor performance hall that can accommodate up to 1,000
people, providing space that can be used for various events and performances.
JGX Media Center will be composed of G-Plex TV open studio, broadcasting
production room, one-person media and home shopping broadcasting station for
such Influencers as YouTuber and Wang Hong. Entertainment partners of JGX will
create jointly various events and performances here. The "2018 All Together Asia
Awards Party" was held on July 2, 2018, and the "2018 Russia World Cup Street
Cheering Exhibition" was held on June 17 and 18. In the future, it will be renewed
as JGX Media Center, and more cultural contents will be performed. They will be
broadcasted in about 20 countries simultaneously through G-Plex TV.
In addition, all technical research and training related to the Blockchain will be
carried out at the GX Blockchain R&D Center and Academy, which will be promoted
to the public through the media.
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[Example image of JGX Media Center, G-Plex]
[Example image of Floor Plan of JGX Media Center, G-Plex]
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[Technical actual application example of G-Plex Multi Pop Street]
2) JGX Multi Pop Street, G-Plex Pop Street
The parent company of JGX is Multi Pop Street a new business model that creates
new added values through various contents and media channels that JGX has,
utilizing architecture technology of G-Glass and G-Tainer of G-Smatt Global, the
distributorship of which is held by JGX for the markets of Southeast Asia and
Australia.
G-Smart Global, a business partner of JGX, is a listed company on KOSDAQ that
has a global patent of G-GLASS TECH. It was recognized in the global market for
its future value as it has been listed on KOSDAQ based on the recognition of its
technology patents and marketing power of G-Glass. G-Glass and G-Tainer will be
used for all broadcasting sites, performances, and music videos which will be
produced by participation of JGX together with the 'Media Façade' applied to
buildings.
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JGX will construct JGX Multi Pop Street utilizing G-Tainer that can be easily
assembled and installed, recycled anytime, and is economic as its construction
period is short in such countries as Myanmar, Cambodia, Laos which are emerging
as new blue oceans due to the recent wave of democratization and openness. JGX
will install complex cultural spaces where performances, parties, and shopping would
be possible 365 days a year.
At present, there is a cultural space called Common Ground in Seongsu-dong and
Seoul Forest of Seoul where Kolon Corporation collaborated.
The complex cultural space was set up within 28 days using 200 containers,
encompassing the entire range of construction including site re-construction,
container building, installation of electric and water facilities and interiors.
JGX's G-Plex Pop Street will capture JGX users as a new cultural content space in
developing countries where content is still lacking.
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3) JGX Mobile IPTV Integration Platform, G-Plex TV
JGX’s mobile IPTV integration platform is a wireless Internet based video
streaming application that was developed as a platform to watch all terrestrial
broadcasts, cable broadcasts, broadcast VODs, movies, sports and news on one
platform, including ‘Oksusu TV’ of SK Telecom, ‘Olleh TV’ of KT Telecom, and
‘POOQ’ of 3 terrestrial broadcasting companies of KBS, MBC, and SBS.
JGX's technical team is currently developing the G-Plex TV platform with SK
Broadband's chief development officer and his team at the time of developing the
Oksusu TV. When this platform is completed, we will export the G-Plex TV platform
to Southeast Asian markets, and plan to install various local contents and Korean
contents on it.
JGX will develop platforms on all business models, prepare reasonable models
that will localize and present all contents to be posted on this platform, and we
will be targeting the Southeast Asian and blue ocean markets where this
infrastructure has not been constructed yet.
[Example of G-Plex TV]
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[Example of G-Plex HomeShopping Platform]
4) JGX Home Shopping Integration Platform, G-Ples Home Shopping
JGX Home Shopping Integration Platform is a mobile home shopping portal
application developed for viewing all home shopping channels at once.
JGX is planning to develop a home shopping integration platform like 'Home
Shopping Mall' which GS Home Shopping in Korea is currently pursuing as a
monopoly business, and to develop a mobile platform optimized for emerging
markets such as Southeast Asia. We have a plan to export the integration platform
to emerging markets, sell local products, and sell home shopping products with
excellent visual and promotional marketing materials made in Korea in local
languages.
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5) JGX Online Shopping Mall, G-Plex Mall
G-Plex Mall, a JGX online shopping mall, will be a new Amazon in Asia with a
variety of Korean-language content targeted for emerging markets in Southeast Asia,
where many consumer goods are scarce. GK Mall, which was already targeting the
Chinese market, has been renewed and is finished with the optimized product
composition for the developing countries market. Currently, there are more than
10,000 SKU (Stock Keeping Unit) in 7 categories including beverages, food, living,
home appliances, fashion, and beauty. At present, G-Plex Mall is preparing for the
new renewal open.
In addition to general retail products, GX-Mall will be promoting and selling a
number of products that JGX distributes with exclusive sales rights.
[Image of GK Mall and Korean Cosmetic Brand‘THE OOZOO’]
6) JGX Smart Global Logistics, G-Plex Logistics
JGX will have a logistics system to deliver JGX shopping products to Myanmar,
Laos and Cambodia, which have yet to establish logistics and delivery infrastructure,
and will lead the delivery market in developing countries in Southeast Asia.
JGX has established a Joint Venture(JV) with local logistics partners, utilize the
infrastructure of the city's logistics hubs established by partner company. We will be
deploying the same day shipping system as in Korea for the first time.
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7) Global Exchange Platform
JGX will establish at least 6~10 global Exchanges in Thailand, Myanmar, Laos and
Cambodia, Dubai starting with Philippines.
GX-Exchange Hub Inc. Has been already established in the Philippines and all legal proceedings are under way.
Beside that Myanmar, Laos and Cambodia, are in the process of opening after the
opening of the Philippines Exchange.
(1)Establishment of the Philippines Exchange
In November 2018, JGX established a joint venture in Quezon City of Manila, the capital city of Philippines and as a main sponsor of 'Michael Angelo The Sitcom', a two-terrestrial broadcaster in the Philippines, We started promoting GX-EX.
(2) Opening of Exchange in Thailand
On July 6, 2018, a government official from Thailand visited Korea to
discuss the work related to the State Exchange of Thailand and agreed to
open an exchange soon.
(3) Opening of Exchange in Australia
On June 25, 2018, Chairman Zhang Xun, Chairman of ZX Investment
Group, the holding company of Australia's Melbourne Smart Town
construction project, visited Korea and briefed the Korea Exchange System
and signed a letter of memorandum of understanding. There is now an
exchange office in Melbourne, and legal procedures are underway to
establish and authorize it through legal advice. We are preparing to open in
early 2019.
(4) Opening of Exchanges in Myanmar, Laos, and Cambodia
After opening the Philippines Exchange first, we are discussing with the
officials of each country about the plan to open sequentially.
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4. Marketing Strategy
4.1 Increasing Continuous Value Strategy
1) Sequential Launching Strategy of Business Models
Inducing Value Increase through Launch Announcement
JGX has a total of six platforms that can generate a strong profit model with
only one platform business model. In addition, to the users of developing
countries in Southeast Asia who have no such platform infrastructure and
content market, a strong platform infrastructure and content landing will
become a big issue, and if the inroad is made without cost resistance, the users
will be excited about this content. The JGX platform infrastructure will be able
to preempt the market quickly, as it will focus on securing users by adjusting
each market's economic capabilities to facilitate entry into the market place.
JGX plans to launch these 6 platforms on a sequential basis rather than
launching them at a time.
As in stock markets, we expect to see the same effect of the value of stocks
rising as a company conducts any large-scale project, or discloses a company's
favorable assets.
In the same way, if a platform to be used for JGX Coins is newly launched, it
will be announced on the Foundation's homepage, which would raise the value
of coin by making it an issue.
2) JGX Dual Dividend System
Dividend payment from the proceeds of total business progress after annual
report
The technology of Blockchain is characterized by transparency that can not be
corrected with the disclosure of the ledger and the data once entered.
Therefore, JGX can ensure the transparency of the enterprise by combining
Blockchain technology across all platforms.
JGX will pay dividends in the form of a reward to users who have JGX Coins
in two ways at the end of each year's reporting period.
(1) At the end of the year, JGX pays a certain amount of dividends based on
the coins held
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(2) At the end of the year, a certain percentage of dividends are calculated by
counting the total frequency and amount of use of the platform using JGX
for a year
4.2 Benefits for JGX Users of JGX Exchange Platform
1) Discount of fees
Transaction fees are discounted to users (JGX market users) who use JGX Coin
as key currency. In this kind of case, it is a great benefit for ordinary users as
well as for traders with high usage or frequency, which will increase the loyalty
of the Exchange and induce the JGX Coin to be traded as the key currency.
2) Paying a certain percentage of the proceeds from the exchange as dividend
Part of the proceeds of the Exchange will be paid to the users who have JGX
Coins as dividend.
3) GX Exchange application lock screen ad reward payment
When approved by the user, JGX Exchange application can be equipped with
the compensation advertising feature. Users of the JGX application will see their
ad through ad engagement on the smartphone's lock screen and will receive a
JGX reward cash. The entity that pays the rewards here is also an advertiser
using the JGX performance, media and entertainment platform, and the
providers of the services that have entered the JGX platform. This JGX reward
cash can be used to buy coins from the JGX Exchange and used freely on the
JGX platform.
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4.3 Marketing Strategy Structure Diagram
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5. JGX Technical Stack
5.1 Blockchain
1) Technical Overview of Blockchain
Blockchain is a distributed, independent, open common ledger management
technology.
Blockchain is a data storage structure similar to a distributed database
and enables mutual verification and storage of data between participants
through the network. The existing traditional system establishes a reliable
third party verification authority for the centralized management of
transaction information, whereas Blockchain platform provides transaction
information to peer-to-peer (P2P) by recording and managing it jointly on
network nodes, enhancing transparency and stability in the process.
Blockchain is a technology that allows data to be shared between parties (or
machines) who do not know each other in a reliable way - Deloitte
Blockchain is a 'trust-making machine' - The Economist
BBlockchain shares value beyond information sharing - Don Tapscott
2) Blockchain Features
JGX Coin has been developed with the Blockchain technology to serve as
a key currency for many Exchanges, as well as the main payment method
used in the massive JGX Infra Platform.
(1) Transparency of Transaction
Blockchain technology is the most powerful solution to build mutual
trust for JGX Coin users as they do not need a third party to ensure
reliability, and all transactions are transparently recorded, archived and
shared.
JGX Coin has been developed as a procedural compensation logic
based on various business models. The compensation logic is based on
the principle of transparent disclosure of all data that can be used as a
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basis for calculating dividends, rewards, etc. in order to accurately track
and objectify not only the transaction volume of users but also the
contribution of platform activation through various participation (activities).
JGX Coin provides not only individual transaction history, but also
JGXScan service, which allows everyone to view all the traffic and
transactions occurring on the JGX network in real time, thereby enhancing
transaction data transparency.
(2) Reduction of Transaction Fee
One of the most costly burdens of service providers operating or
hosting the platform is the fee that is provided to the Payment Gateway.
Generally, a fee of about 3-5% is paid on an average. If you make a
payment by switching Blockchain-based JGX Coin to JGX Cash, you can
pay the fee at a lower GAS rate. Reduced fees are used as rewards for
JGX Coin users.
JGX Coin users receive rewards only with ad viewing and transaction
contributions, and service providers can build a virtuous cycle structure
that reduces paying and commission costs to P/G to return benefits to
consumers.
(3) Excellent Security
Due to the complex payment system, existing POS, P/G, and VAN
companies are constantly experiencing security accidents. An example of
various security incidents that can occur in an existing financial
transaction system can be seen in the figure below.
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[Example of security incidents occurring in an existing financial transaction system]
Because the system is large in scale and networking range, it is
exposed to all kinds of security threats. In reality, there are various
security issues, but it is a reality that there is no perfect plan to prevent
information leakage and to increase scalability and security at the same
time.
In contrast, Blockchain based transaction method is very simple, and
falsification of transaction records is practically impossible.
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[Transaction method of Blockchain based cryptocurrency]
All transactions are codified sequentially and recorded on blocks
publicly, and one-time only stamps are stamped on each transaction
before it is connected to previous transactions by chain. This kind of
digital 'block' can be updated only with agreements of all participants,
making it impossible to practice data interception, correction, and
deletion.
JGX Coin has a 2-step authentication process using Google OTP
authentication for easy and secure exchange and payment, and provides
a more secure dedicated wallet by applying a data encryption policy as a
multi-layer multi-zone security mechanism.
With this, personal information, user’s account, and personal key
information requiring strict management can be kept more securely.
(4) Accommodation of Global Trend
It was predicted that Blockchain technology will bring about widespread
change in 2011, but the potential of this technology has really started to
get popular attention from 2017. Now, it has become an industrial trend
by entering the stage of commercialization out of experimental stage in
various countries, leading companies and various fields.
Investments and researches are already being carried out in various
countries such as Europe, North America, Japan and Singapore. In Korea,
Korea Minting and Security Printing Corporation has launched 'Blockchain
Business Team' for the first time in Korea to find new businesses for the
future. The Korean government is also trying to move from the simple
money making business to the active 4th Industrial Revolution by
proceeding with the "Cashless Society" project.
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In financial fields of the world including all the banks and financial
instruments exchange, they are already taking the lead in competitive
investments and utilizing Blockchain technology.
Major card companies such as Visa, Master, Union Pay, American
Express, and Samsung are also conducting their own R&D on Blockchain
technology, and some of them are already applied to existing services.
Mobile operators, platform operators, and IT technology leaders such as
IBM, Microsoft, AWS, and SAMSUNG SDS are increasing their investments
by focusing on the advantages of Blockchain technology, and news that
they are offering services that adopt Blockchain technology around the
world are being announced every day.
Together with rich & powerful ecosystem, JGX Coin intends to present
a successful model based on Blockchain that leads the wave of change
by building a Coin & Cash system based on Blockchain in line with
global trends.
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5.2 Direction of JGX Coin Service
1) Service Flow – JGX Coin
JGX Coin's main flow consists of issuing an Ethereum account for wallet
usage, coin issuance, cash exchange, payment and compensation. Wallet
applications are available both in the Ethereum official wallet (MyEtherWallet)
and in the JGX exclusive wallet (mobile/web), and you can buy other coins
from other Exchanges with the JGX Coin you have been issued with, or you
can exchange them with cash or JGX Cash. JGX Cash can be used as a
payment method in various JGX On/Off-Line stores. Depending on your
performance, you will also receive a cashback reward.
Step1. Wallet creation
Generate a new wallet address for issuing JGX Coin for each user.
Step2. JGX Coin issue
Issued to customers who wish to purchase or exchange JGX Coin
already issued.
Step3. Exchange
Exchange and encashment of virtual currencies through an Exchange
JGX Coin can be exchanged with JGX Cash.
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Alice visits the JGX Media Center and wants to see K-Pop festival.
① Alice was asked to buy tickets from Charlotte. Charlotte sends Alice
JGX Coin from her JGX Wallet.② Alice opens JGX Wallet and exchanges JGX Coin with JGX Cash.③ Alice, who has selected the performance on the JGX Wallet, selects
JGX Cash as a payment method and completes the payment and receives the tickets.
④ Alice and Charlotte, who visited the GX Media Center, visit Charlie's coffee shop prior to the performance.
⑤ Alice orders coffee, takes a picture of Charlie’s coffee shop QR code in JGX Wallet, and pays for the coffee using JGX Cash.
⑥ Charlie, who received a coffee order, confirms the transaction with Alice in JGX Wallet and pays her a bonus reward.
⑦ For promotion of a new menu, Charlie sends a menu guide photo and a coupon to Alice in JGX Wallet.
⑧ Alice thinks she had a really good time at JGX Media Center tonight.
Step4. JGX Platform Visit
Visit an on/offline franchise where JGX Cash can be used.
Step5. JGX Payment Method Presentation
Convenient payment using a payment method within JGX Coin.
Step6. JGX Cash Use
Consumer goods can be purchased using JGX Cash.
Step7. JGX Bonus
Reward is provided depending on transaction performance.
When a particular condition is satisfied, an event-type reward is
provided in lottery type JGX Cash coupon.
2) Service Example – JGX Coin
Let's take a look at JGX Coin users' experience through user scenarios in
JGX Media Center. Alice as a consumer, Charlie as a seller wants to
communicate within the JGX platform via JGX Wallet.
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[Service Example]
3) Service Configuration Diagram
Within the JGX platform, the issuance of JGX Coin, virtual currency
exchange, JGX Cash creation and usage (transaction), and interface (API) for
external affiliate interactions are included in the JGX platform.
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[JGX Coin Service Configuration Diagram]
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4) Service Flow - JGX Cash
Unlike the JGX Coin of the asset concept, JGX Cash is worth the local
currency level. This is important to all transactions within the JGX platform
and will contribute to ecosystem activation.
I. Cash creation and exchange
Creating or exchanging JGX Cash via Exchange or Exchange logic
The process of creating and exchanging cash is carried out by the
open asset protocol.
ii. Transaction (Use)
The process on cash transaction is carried out by the open asset
protocol.
When cash transaction occurs, its specifics are recorded in
Blockchain.
iii. Transaction (Total)
Creating smart contract based cash transaction aggregation contract
Cash aggregation condition is set to volume or point of time.
Execute contract for aggregation when the set aggregation
condition is reached.
iv. Transaction (Settlement)
Aggregation result data is managed by the state storage of
Blockchain.
v. Transaction text creation
When the settlement history data processing is completed, the hash
value of the data is extracted and the TSA (Time Stamping
Authority) is executed.
Register the hash value of the settled data in Blockchain
Judge data integrity by comparing it with the hash value of the
external affiliate
vi. Transaction text forwarding
Execute the text forwarding contract
vii. Cash management
Update forwarded text information in the aggregated DB update.
Search point aggregation / settlement data in State DB for
aggregation (Provide various search conditions)
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[Platform Structure]
5.3 Platform Architecture
JGX layers are composed of ERC-20 based Contract-Interface-Application
layers. From the useful information that users create, the platform architecture
manages the data by solving the modularization contract structure with
Blockchain technology. Billing data from various consuming customers are
effectively provided to enterprises and customers through JGX API (analysis /
solution).
JGX Cash is built with a system of flexible infrastructure scalability.
I. Blockchain Core Infra - GX Cash creation and registration process, real-time
data guarantee and settlement processing function based on
Blockchain (transaction management)
ii. Interface module - Cash Identification information management / settlement
data distribution, external system inquiry function management,
internal server, core API role
iii. Server - App, legacy dedicated processing logic server, DB, core infra relay
and processing role
iv. Transaction data inquiry – Used by customers and external affiliate contacts.
Provides cash information registration, inquiry and use, settlement
history text management. Provides statistical information storage
and inquiry function, etc.
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[Cash System Structure]
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5.4 Security Architecture & Policy
When examining all the examples of known password-related security
incidents to date, most users or Exchanges have problems with operating
coins. The problem of these security incidents is not one of the block-chain
technology.
In other words, JGX Coin is structurally secure due to its block chain
technology, but the problem can be avoided by paying attention to the
process of transaction and archiving. Therefore, for the safety of all
transactions in the JGX platform, we will consider the operational attributes
of security from the service design stage.
Multi-segment Encryption
The external intercommunication of the JGX platform encrypts all Web
server-to-browser connections and protects data by applying the 256-bit SSL
protocol.
Multiple Authentication (2FA)
In addition to basic authentication via user accounts and passwords,
security is reinforced further by JGX Coin account activation via email
accounts associated with JGX and Google OTP authentication.
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Sophisticated Structure and Operational Policies
All server operations are strictly granular and implemented with a strictly
restrictive IP address. The granular structure prevents a single error from
occurring and prevents an attacker from taking complete control of the
user's account.
Reflects ongoing, high-standard monitoring policies to quickly detect
suspicious transactions and unusual activity.
Secure Asset Retention
JGX keeps customers' investment assets by operating a hot wallet as well
as a secure cold wallet.
5.5 JGX Wallet
1) Overview
JGX Wallet is a wallet for JGX Coin transactions and enables the reception
of relevant information and the operation of JGX Coin within the Etherium
Blockchain.
Users of JGX Wallets convert JGX Coin to JGX Cash and use real
transactions and services where JGX Cash is used. Users of JGX Wallet can
be divided into consumers and sellers, and use specialized functions
depending on the characteristics of the user.
35
When the user is a consumer, it is possible to earn reward points such as
the consumption of lock screen ads as well as bonus points that the seller
pays according to the transaction. Advertisers who want to advertise on JGX
Wallet can advertise with a low fee through JGX Coin transactions.
Franchises and sellers using JGX Wallet in transactions within the JGX
platform will pay a smaller fee than in traditional payment systems. Sellers
can make JGX Cash transactions on the JGX platform, offer reward points to
consumers, and target ads through an analysis of transaction data.
The use of JGX Cash on the JGX platform will contribute to the activation
of the JGX Coin and the JGX Wallet will be provided on mobile and Web
applications.
2) System Architecture
System architecture can be divided into JGX Server Interface for server
interworking, Blockchain Interface for interworking with Blockchain, and
Application Interface for interworking with other applications.
JGX Wallets work on a mobile or Web platform, and external interactions
use the TLS/SSL protocol. The use of the TLS/SSL protocol provides
confidentiality between the JGX Wallet system and the server and integrity
for all data including various elements.
Connection to the server in the JGX Wallet is implemented through the
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JGX Server API. In this interface, OTP is used to secure wallet from the
attempt to steal the account through 2-step authentication for the user
account and manage it with encryption.
Blockchain Interface of JGX Wallet is connected with Etherium Blockchain
system, enables JGX Coin transactions, and provides user transaction history
information.
Applications within the JGX platform also interface with each other
through the interface of the JGX Wallet system.
37
3) Information Architecture
38
4) Usage
(1) Join
Apps > Simple Membership > Enter E-mail > Enter code received via
e-Mail > Create mnemonic (paper key) > Enter (mnemonic) paper key >
Enter password > Enter password confirmation > Main screen
(2) Back up
In the case of Apps > My Page > ‘Back up’ button > QR code backup /
mnemonic (paper key) backup > QR code backup, save the
corresponding QR code in the gallery. In the case of mnemonic (paper
key) backup, copy 12 words created during ‘Join’.
(3) Send
Apps > Click ‘Send’ button of Main > Enter Receiver (Wallet address of
the receiver or QR code is recognized as Receiver) > Enter the amount
(JGX unit, dollar or won) > Enter the fee (Gas) > Send
(4) Receive
Apps > Click ‘Receive’ button of Main > Enter the amount (JGX unit,
dollar or won) > QR code copy and send ‘Text’ button > Send Wallet
address of the user (QR code)
5) UX & UI Review
(1) Web
[KYC Screen]
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[Login Screen]
(2) Mobile
[Login Screen] [KYC Screen]
40
6. Roadmap&Plan
6.1 Roadmap
41
Token Name JGX coin
Token Ticker JGX
Token Type ERC20 (Ethereum Smart Contract)
Distribution Method Fixed
Total Amount 5,000,000,000 JGX
Max Token Sale 1,500,000,000 JGX (30%)
Hard Cap 50 million USD
Payment Method ETH
JGX Minimum Investment
1 ETH
6.2 Token Sale Plan
1) Token Key Facts
2) Distribution of Token
Distribution of Token
Token Sale 30%Team 10%Advisors 5%Partners 5%Marketing Operations 15%Liquid Asset of Platform 25%Reserves 10%
42
3) Distribution of Funding
Distribution of Funding
R&D 10%Fund for operating Exchange 30%Fund for operating Platform 30%Initial Fund for the Company Setup&Operation 10%Marketing&PR 10%Reserves 10%
43
7. JGX Formation
7.1 Foundation & Company
JGX Global Foundation (in Singapore)
JGX Korea (in Seoul)
JGX Philippines (in Manila)
JGX China (in Beijing&Shanghai)
JGX Thailand (in Bangkok)
JGX Australia (in Melbourne)
JGX Myanmar (in Yangon)
JGX Laos (in Vientiane)
JGX Cambodia (in Phnom Penh)
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7.2 Exchange Platform
Manila (Philippines)
Bangkok (Thailand)
Melbourne (Australia)
Yangon (Myanmar)
Vientiane (Laos)
Phnom Penh (Cambodia)
Dubai (United Arab Emirates)
7.3 Consortium
45
8. JGX Team
8.1 Executive Team
8.2 Technology Team
46
8.3 Advisors
8.4 Partners
9. Disclaimer
47
The JGX white paper is for informational purposes only which shall not and cannot be
considered as an invitation to enter into an investment. This white paper, any
information provided on the JGX web page and any terms and conditions published by
JGX do not constitute a prospectus or offer document of any sort and is not intended
to constitute an offer of securities or a solicitation for investment in securities in any
jurisdiction. If the participant decides to contribute to the JGX development, please note
that your contribution to JGX Coin does not involve the exchange of cryptocurrencies
for any form of securities, investment units or form of ordinary shares in JGX Limited or
any other company of relation.
Due to legal and regulatory uncertainty in the United States of America and People’s
Republic of China, participants residing in the United States of America and China are
not allowed to provide contributions and obtain JGX Coin (JGX) tokens. Any participant
providing false information about their citizenship, residency place and nationality will
breach JGX terms and conditions and would entitle JGX to not compensate any
damages and/or losses suffered due to this violation. The white paper, information
provided on the JGX web page and any terms and conditions published by JGX any
part thereof and any copy thereof must not be taken or transmitted to any country
where distribution or dissemination of these documents/information is prohibited or
restricted. No regulatory authority has examined or approved of any of the information
set out in the white paper. No such action has been or will be taken under the laws,
regulatory requirements or rules of any jurisdiction. The publication, distribution or
dissemination of the white paper does not imply that the applicable laws, regulatory
requirements or rules have been complied with.
In no event will JGX or its affiliates be liable to any person or entity for any damages,
losses, liabilities, costs and/or expenses of any kind, whether direct or indirect,
consequential, compensatory, incidental, actual, exemplary, punitive or special for the use
of, reference to, or reliance on this white paper or any of the content contained herein,
including, without limitation, any loss of business, revenues, profits, data, use, goodwill
or other intangible losses. No information in this whitepaper should be considered to
be business, legal, financial or tax advice regarding contribution to the development of
the JGX platform. You as the participant should be aware that you may be required to
bear the financial risk of any obtained JGX Coin (JGX) tokens for an indefinite period of
time. Any information in the whitepaper is given for general information purpose only,
and JGX does not provide any warranty as to the accuracy and completeness of this
information. Given the lack of crypto-token qualifications in most countries, each
participant is strongly advised to carry out a legal and tax analysis concerning the
purchase and ownership of JGX Coin (JGX) tokens according to their nationality and
place of residence.
48
The white paper does not include nor contain any information or indication that might
be considered as a recommendation or that might be used to base any investment
decision. This document does not constitute an offer or an invitation to sell shares,
securities or rights belonging to JGX Limited or any related associated company. The
JGX Coin (JGX) tokens are just utility tokens which can be used only on the JGX
platform and is not intended to be used as an investment.
The offering of JGX Coin (JGX) tokens on a trading platform is done in order to allow
the use of the JGX platform and is not for speculative purposes. The offering of JGX
Coin (JGX) tokens on a trading platform is not changing the legal qualification of the
token, which remains a simple means for the use of the JGX platform and is not a
security.
JGX Coin (JGX) tokens confer no direct or indirect right to JGX foundation capital or
income, nor does it confer any governance right within the JGX platform; JGX Coin is
not proof of ownership or a right of control over JGX platform and does not grant the
controlling individual any asset or share in JGX foundation or any JGX products, or in
the JGX network. A JGX Coin (JGX) token does not grant any right to participate in
control over JGX’s management or decision-making setup, or over the JGX network and
governance to the Purchasers.
Regulatory authorities are carefully scrutinizing businesses and operations associated
with cryptocurrencies in the world. In that respect, regulatory measures, investigations or
actions may impact JGX’s business and even limit or prevent it from developing its
operations in the future. Any person undertaking to acquire JGX Coin (JGX) token must
be aware of the JGX business model, the white paper or terms and conditions may
change or need to be modified because of new regulatory and compliance
requirements from any applicable laws in any jurisdictions. In such a case, purchasers
and anyone undertaking to acquire JGX Coin (JGX) token acknowledge and understand
that neither JGX nor any of its affiliates shall be held liable for any direct or indirect
loss or damage caused by such changes.
The information in this document is subject to change without notice and should not
be construed as a commitment by JGX foundation. JGX assumes no responsibility for
any errors that may appear in this document.
Risk Factors
The purchaser of JGX Coins undertake that he/she understands and has significant
49
experience in Blockchain systems and crypto-currencies and has carefully read through
this white paper and all relevant information provided in the official website to have a
comprehensive understanding of the potential risks associated with participating in the
crowd sale and fully aware that JGX (or its affiliates) will not provide any refund of
purchase of JGX tokens under any circumstance. Any interested person who is not in
the position to accept or understand the risks associated with the activity (including the
risks related to the non-development of the JGX Platform) or any other risks as
indicated below or in the Terms & Conditions of the crowd sale should not acquire JGX
Coin tokens. JGX will use reasonable efforts to ensure that the project proceeds in the
general direction as that discussed in the whitepaper. However, buyers may still face
various risks of incurring losses. The risks include regulatory risk, risk on the token
market, digital wallet management, systematic risk, taxes, and other risks not listed here.
Regulatory Risks
Blockchain technology, including but not limited to the issue of tokens, may be a new
concept in some jurisdictions, which may then apply existing laws, or introduce new
regulations regarding Blockchain technology-based applications, and such regulations
may conflict with the token concept. Regulatory actions could negatively impact JGX
and/or JGX platform in various ways. JGX (or its affiliates) may cease operations in a
jurisdiction in the event that regulatory actions, or changes to law or regulations, make
it illegal to operate in such jurisdiction, or commercially undesirable to obtain the
necessary regulatory approval(s) to operate in such jurisdiction. JGX may constantly
adjust the sale strategy in order to avoid relevant legal risks as much as possible.
Token Market Risks
Once purchased, JGX tokens are designed to be used solely on the JGX Platform,
hence there may be illiquidity risk with respect to JGX. The value of JGX token may
significantly fluctuate due to various reasons. JGX does not guarantee any specific value
of the JGX token over any specific period of time. JGX shall not be held responsible for
any change in the value of the JGX token including the complete loss of value due to
factors such as JGX is not accepted by the market, there are not enough users using
them, development of JGX Platform is stagnant, or there are rumors or other
uncontrollable factors.
Digital Wallet Management
50
Buyers may receive JGX coins only after installing the wallet and obtaining the digital
wallet address. Individual users are responsible for protecting their private keys, which is
used to prove their ownership of the JGX tokens. The users should be fully aware that
if their private key or password is lost or stolen, the tokens on their account will be
lost forever and cannot be recovered.
Systemic Risk
This is referred to the risk caused by the large-scale faults of the global network
infrastructure such as force majeure. JGX Coin performance may be interrupted,
suspended or delayed due to force majeure circumstances. For the purposes of this
whitepaper, force majeure shall mean extraordinary events and circumstances which
could not be prevented by JGX and shall include acts of nature, wars, armed conflicts,
mass civil disorders, industrial actions, epidemics, lockouts, prolonged shortage or other
failures of energy supplies or communication service, other circumstances beyond JGX’s
control.
Taxes
JGX Coin token holders may be required to pay taxes associated with the transactions
contemplated herein. It will be a sole responsibility of JGX Coin token holders to
comply with the tax laws of the jurisdictions applicable to them and pay all relevant
taxes. Representations and Warranties.
Warranties
By accessing and/or accepting possession of any information in this whitepaper and
participating in the token sale, you represent and warrant to JGX:
(a) You are fully aware of and understand that you are not eligible to purchase any
JGX tokens if you are a citizen, resident (tax or otherwise) or green card holder of the
United States of America or a citizen or resident of the People’s Republic of China;
(b) You are authorized and have full power to purchase JGX Coin tokens according to
the laws that apply in their jurisdiction of domicile;
(c) Live in a jurisdiction which allows to sell JGX Coin tokens through a crowdsale
without requiring any local authorization and are in compliance with the local, state and
national laws and regulations when purchasing, selling and/or using JGX Coin tokens;
(d) Are familiar with all related regulations in the specific jurisdiction in which they are
51
based and that purchasing cryptographic tokens in that jurisdiction is not prohibited,
restricted or subject to additional conditions of any kind;
(e) You agree and acknowledge that JGX tokens do not constitute securities in any
form in any jurisdiction;
(f) You agree and acknowledge that this Whitepaper does not constitute a prospectus
or offer document of any sort and is not intended to constitute an offer of securities in
any jurisdiction or a solicitation for investment in securities and you are not bound to
enter into any contract or binding legal commitment and no cryptocurrency or other
form of payment have to be accepted on the basis of this Whitepaper;
(g) You agree and acknowledge that in the case where you wish to purchase any ASA
tokens, the ASA tokens are not to be construed, interpreted, classified or treated as:
• Any kind of currency other than cryptocurrency;
• Debentures, stocks or shares issued by any person or entity (whether JGX and/or the
Token Provider)
• Rights, options or derivatives in respect of such debentures, stocks or shares;
(h) Have sufficient knowledge about the nature of the cryptographic tokens and have
significant experience with and functional understanding of the usage and intricacies of
dealing with cryptographic tokens and currencies and Blockchain-based systems and
services;
(i) You are fully aware and understand that in the case where you wish to purchase
any JGX Coin tokens, there are risks associated with JGX Coin;
(j) You agree and acknowledge that JGX nor its affiliates are liable for any indirect,
special, incidental, consequential or other losses of any kind, in tort, contract or
otherwise (including but not limited to loss of revenue, income or profits, and loss of
use or data), arising out of or in connection with any acceptance of or reliance on this
Whitepaper or any part thereof by you; and rights under a contract for differences or
under any other contract the purpose or pretended purpose of which is to secure a
profit or avoid a loss;
(k) Purchase JGX Coin tokens because they wish to have access to the JGX platform;
(l) Are not purchasing JGX Coin tokens for the purpose of speculative investment or
usage.
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10. Appendix10.1 Arrangement of Terms
Ÿ P2P: Short for Peer-to-Peer, this refers to a network where each terminal
communicates with each other on an equal footing without a central server. Each
terminal is both a server and a client.
Ÿ Gas: Fees for SmartContract Deploy transactions within Etherium network
Ÿ SSL: As a standard security technology for establishing encrypted links between
Web servers and browsers, all data is kept private by using secure links.
Ÿ 2FA: By merging two different elements, you identify identifiers that you claim.
Ÿ Hot Wallet: Desktop, Mobile, and Web wallet. Passwords If you have frequent
transactions, it is a good idea to use the Hot Wallet so you can use your secret
key immediately.
Ÿ Cold Wallet: There are paper, hardware, and brain wallet. You are not
connected to the Internet.
Ÿ Load balancing: Distributing the load on the request to the transaction
Ÿ Integrity: An important feature of a database or RDBMS system, pointing to
the accuracy and consistency of data throughout the life cycle of the computing
world
Ÿ Smart Contract: It is a technology that can conclude contracts easily and
conveniently with P2P without intermediaries. This technology uses Blockchain's
Distributed Ledger Technology (DLT) to automatically execute contracts through a
shared network among various stakeholders such as financial transactions, real
estate contracts, and notarials.
Ÿ Transaction: Generally refers to a processing unit that can not be divided
further in a system. In a block chain, it is the exchange of data that includes
ownership of the coin. It is used to prove the issuance of a coin by applying the
author's electronic signature, or to ensure that the contents have not been
tampered with.
Ÿ Block: A unit of data created by aggregating multiple transactions. Storing a
transaction in a block verifies that it is a valid transaction, and uses a
proof-of-work algorithm to prevent double payments.
Ÿ Hash: A small amount of data that distinguishes crypto-currency. A function
that calculates a hash value from source data is called a hash function. The hash
value created by the cryptographic hash function is heavily used in creating
blocks of crypto-currency and address calculation.
53
10.2 Reference
Partners (International Blockchain Consortium, GX Exchange, I am mining
International Blockchain R&D Center, Korea Blockchain Entrepreneur Association,
WeatherBlock, Reputation, PayX coin processor, M Blockchain (MEDIA), KCX
Exchange, ZX INVESTMENT GROUP Co., Ltd, OBC Co., Ltd, KBMBLOC Co., Ltd, TONG
BLOC Co., Ltd, Maker Space Co., Ltd, Billionaire Global Co., Ltd, CITYCORE Co., Ltd,
D2Global Group Co., Ltd, The Mavens Language Center Co., Ltd, Daeryook&Aju Law
Firm, THEOOZOO, GKMall, G2Funding Group, ENT Global Contents Group, OZTV,
Korea Homeshopping Product Suppliers Association )
https://www.kotra.or.kr/
https://ko.wikipedia.org/wiki/.kr
https://goo.gl/9ELB5v
https://goo.gl/OXeYPb
https://goo.gl/BbrVUx
https://cointelegraph.com/news/bitcoin-monopoly-bank-of-america
http://news.livedoor.com/article/detail/11627616/
https://www.mizuhobank.co.jp/release/pdf/20160308release_jp.pdf
https://www.cnbc.com/2016/02/12/nasdaq-to-trial-Blockchain-voting-for-shareholders.ht
ml
https://www.federalreserve.gov/newsevents/speech/brainard20160414a.htm
http://www.dt.co.kr/contents.html?article_no=2016060702101460813001
https://e-estonia.com/
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment
_data/file/492972/gs-16-1-distributed-ledger-technology.pdf
https://www.wsj.com/articles/ny-financial-regulator-lawsky-releases-final-bitlicense-rules-
for-bitcoin-firms-1433345396
https://medium.com/mit-media-lab-digital-currency-initiative/announcing-a-900-000-bit
coin-developer-fund-6e8b7e8b0861
https://www.w3.org/community/Blockchain/
www.jgxcoin.io