The information in this document is subject to change or update without notice and should not be construed as a commitment by Jones Industries, LLC. This document is for informational purposes only and does not constitute an offer or solicitation to sell shares or securities in Jones Industries, LLC or any related or associated company. Any such offer or solicitation will be made only by means of a confidential offering memorandum and in accordance with the terms of all applicable securities and other laws. This version of the JIL TOKENS white paper is released as a working draft – with the purpose of introducing the idea and receiving feedback from the blockchain community.

The information set forth below may not be exhaustive and does not imply any elements of a contractual relationship. While we make every effort to ensure that any material in this white paper is accurate and up to date, such material in no way constitutes the provision of professional advice. Jones Industries LLC does not guarantee, and accepts no legal liability whatsoever arising from or connected to, the accuracy, reliability, currency, or completeness of any material contained in this white paper.

JIL TOKENS will not be intended to constitute securities in any jurisdiction. This white paper does 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. Jones Industries LLC does not provide any opinion on any advice to purchase, sell, or otherwise transact with JIL TOKENS and the fact of presentation of this white paper shall not form the basis of, or be relied upon in connection with, any contract or investment decision.

For the purpose of this paper, JIL TOKENS will be referred to as either a coin, coins, token, or tokens. All terms are correct when used to describe JIL TOKENS. No person is bound to enter into any contract or binding legal commitment in relation to the sale and purchase of JIL TOKENS and no cryptocurrency or another form of payment is to be accepted solely based on this white paper.


Most estimates measure global wealth around $250 trillion, much of which is held by banks or similar financial institutions. Although there are a wide range of mediums to distribute assets in the world, we believe that the blockchains, Ethereum and Hyperledger Fabric are better for trading, storing and administering these assets. The migration of these assets to these blockchains using JIL TOKENS represent a proportionally high probability.

Some of the main advantages of cryptocurrencies are low transaction costs, international boundless portability, convertibility, trust-free ownership, exchange, pseudo-anonymity, real-time transparency and almost complete immunity against problems with the banking system. Common explanations for the current limited regular use of cryptocurrencies include volatile price fluctuations, inadequate mass market insight of the technology, inaccessibility, scalability issues, and insufficient user-friendliness for non-technical users.

To maintain accountability and to ensure stability in the world of cryptocurrency, we propose a method that manages to remain stable called JIL TOKENS (J-series). These tokens are utilized in the same manner as traditional paper or fiat money. They are tied to the corresponding real-world asset, USD currency. They retain their accountability by utilizing the Hyperledger Fabric blockchain as its audit method.

Our Mission

Our mission is to expand the knowledge and everyday use of cryptocurrency while providing a simplified, virtual way to make purchases throughout the world.

“It’s definitely possible for cryptocurrency to be great at payments in the future, but the necessary pieces are not in place.” Until now.


Cryptocurrency — a form of digital or virtual money that is generally designed to be decentralized, secure, and in many cases, anonymous — is known amongst Americans. A clear majority (79%) of Americans are familiar with at least one kind of cryptocurrency, according to new data from YouGov Omnibus.

The report, which collected answers from 1202 respondents from August 29-30, 2018, revealed that 79 percent of Americans are familiar with at least one cryptocurrency. Of this percentage, bitcoin is the most popular, with 71 percent of Americans saying that they have prior knowledge of the currency. Ethereum comes second place, as 13 percent of respondents have a form of knowledge about it. Overall, men are more likely than women to have heard of almost every kind of cryptocurrency. About three in ten (27%) women say they have not heard of any cryptocurrency, compared to only 16% of men who chose the same answer.

Of those who have heard of Bitcoin, 87% have had no interaction with it, meaning they haven’t bought, sold, or mined it.

Despite most people not having any interaction with cryptocurrencies, a survey carried out by the same research service YouGov Omnibus shows that more than one-third (36%) of people think that they will become widely accepted as a means of transactions for legal purchases within the next 10 years. Millennials (44%) are the most likely age group to say cryptocurrency will be widely accepted. About one-third (34%) of Generation X and 29% of baby boomers agreed.

Almost half (48%) of millennials say they would be interested in using cryptocurrency as their primary source for payments. This is interesting and reinforces how the crypto community and culture has had a bigger impact on the younger generation.

The survey shows us that the global leaders of tomorrow are aware and open to cryptocurrency. Additionally, the people who believe that cryptocurrencies will become widely accepted, over one-third (36%) say they would be interested in converting to using a cryptocurrency rather than the US dollar. As a company, we want those interested individuals to covert by using JIL TOKENS (J-series).

However, a majority (57%) say they would not be interested in converting away from the US dollar. Millennials are almost equally split between being interested (48%) and not interested (50%).

This could be that many perceive cryptocurrencies are used primarily for illegal purchases. Unfortunately, when the term “bitcoin” is mentioned by the mainstream media, it is usually associated with money laundering schemes. One quarter (25%) say they think cryptocurrencies are used more for illegal activity rather than legal ones. Only 17% think they’re used more for legal purchases, and 19% think cryptocurrencies are equally used for legal and illegal purchases.

In a near-equal amount to those individuals who think cryptocurrencies are used illegally, (34%) do not think cryptocurrencies will become widely accepted within 10 years. This information solidifies that there is room for improvement in understanding the real future utility and underlying technology behind cryptocurrency.

Why cryptocurrency is not mainstream

Despite the positive survey responses, there are several reasons why cryptocurrency is not widely accepted as an everyday payment system.


The problem with a volatile medium of exchange is that it can be costly to use for transactions. Price volatility increases the risk to both parties engaging in a transaction. A centrally managed currency, like the US dollar, has a stable price which removes the volatility risk from transactions. Since the JIL TOKEN (J-series) possess the same face values and are utilized like the US dollar, this allows for the same price stability.


Making payments with cryptocurrency is difficult because they are incredibly inaccessible for the average, hard-working individual. Currently, the price of a full bitcoin is about $4-5,000 USD. While a full bitcoin is not affordable, one can own fractions. Yet most people do not want to use decimals or an exchange rate just to buy daily items. The JIL TOKEN (J-series) is designed to remain affordable regardless of market movement and do not have fractional values.


There are technical limitations of cryptocurrency. These are known as scalability, size, and speed. It has been said that “Bitcoin cannot handle the volume of transactions processed by mechanisms being used in the real world.”

This means the initial design of cryptocurrency was not meant for widespread use and adaptation. While they were manageable when the number of transactions were less, but as they have become more popular, a host of issues have manifested. In comparison, for example, PayPal manages 193 transactions per second and visa manages 1667 transactions per second. As of right now, Ethereum does only 20 transactions per second while Bitcoin manages a paltry 7 transactions per second. The only way that these numbers can be improved is if both cryptocurrencies work on their scalability.

JIL TOKEN (J-series) does not have scalability problems due to its unique implementation. There are no transaction issues because of its simplicity which enables manageability.

Problems with credit cards, gift cards and e-cards

Since the J-series is utilized like paper/fiat money, we will briefly examine other items that are used in a similar way while explaining why our J-series is still a better option. Unlike cryptocurrency, plastic credit cards and gift cards are mainstream financial instruments, and this is no coincidence. The use of these cards are less complex. In April 2015, half of all consumers said they had used a gift card in the previous year. The gift card industry was expected to reach $160 billion by the end of 2018. E-gifting,

the sending of digital gift cards, is picking up momentum as plastic card growth levels off. Some 72% of consumers said they had purchased a gift card online or via a mobile channel and 50% said they would prefer to have a digital gift card scanned from their phone than carry an email printout. Also, 53% said they would be interested in storing gift cards on their phones. In December 2014, digital gift cards accounted for 67% of online gift card sales while physical gift cards accounted for 33%.

Despite the increasing use of electronic gift cards versus plastic cards, neither are exempt from problems. Traditional, plastic gift cards as well as credit cards, can be lost, stolen, unused or subjected to fraud. Electronic gift cards, which are usually sent by e-mail, can be lost, sent to the wrong address, sent to an inactive address, hacked (stolen), unused or accidentally deleted. Additional issues with traditional gift card payment methods, prompted the Federal Reserve to enact regulations. This became the CARD Act of 2009 which went into effect Aug. 22, 2010. The rules (to which our J-series is exempt) are as follows:

Limits on inactivity fees

Dormancy fees may not be imposed unless the gift card has been unused for at least 12 months. Only one fee can be charged per month after the first year. The JIL TOKEN (J-series) does not have monthly fees. They can be kept for as long as you want without the fear of losing value.



There is one token called the J1. It is non-divisible and the user buys the amount equal to the same amount in USD. There are no fees. Example 1:User wants to convert $50 in USD to crypto so they buy 50 J1. Think counting out $50 in $1 dollar bills. Example 2:User wants to convert $2000 in USD to crypto they buy 2000 J1. That’s 2,000 one dollar ($1) bills. If you can spend USD dollars, you can spend the J1! They are in $1 face values so that the buyer can pay the amount closest to the cost of the merchandise being purchased. Since the J-series is not fractional, there is no change.

Example: Penny, nickel, dime and quarter. Use the rounding off method instead. Example: If the total cost is $13.99, round it off to $14 and give the merchant 14 J1=$14

If the total cost is $13.27, give the merchant 13 J1=$13 (the final payment will be at the discretion of the user and the merchant)

The J-series can be spent for online purchases and in store purchases at all merchants accepting the J1. The buyer can give them as gifts through p2p transfer or hold them (HODL). The J-series is money just like a USD $1 bill paper/fiat. It is pegged 1:1 with the $1. When the merchant accepts the J-series as payment, the merchant has several options. They can: hold on to them, use them to make purchases needed for their business, or redeem them for fiat currency.

When merchants redeem the J-series for fiat currency, there is a flat rate processing fee of $1 per transaction (Up to $50 or 50 J1 is considered one transaction). This is better than the high percentage rates banks charge for accepting credit card payments and for the use of their POS terminals, which means merchants retain more value/profit by accepting the J-series as payment. Example: Merchant accepts 50 ($50) J1, receive $49 in fiat currency or 100 ($100) J1, receive $98 in fiat currency.

Having a cryptocurrency that can act as fiat currency and remove the high fees associated with credit cards, are enticing features that will attract mainstream adoption of our J-series tokens as a competitive payment system. A key factor in the price of any cryptocurrency is its utility. If you cannot use it for something, such as investments or payments, then it has no perceived value. In the case of our J-series, it is useful as a payment solution thus its utility is high.

In addition to the obvious utility of the J-series, they add the highly sought-after liquidity to the world of cryptocurrency.

According to Investopedia, “liquidity describes the degree to which an asset or security can be quickly bought or sold in the market without affecting the price of the asset.” Following that definition and according to some market watchers, they would conclude there are no liquid cryptocurrencies in the market at all.

Until now. That’s the very definition of our J-series token!


The JIL TOKEN (JILT) and the J-series (J1) are implemented as ERC-20 tokens on the Ethereum blockchain that uses the smart contract protocol.


Some of the most popular stablecoins that are attempting to bring electronic payments to the mainstream are Tether (USDT), TrueUSD (TUSD), MakerDAO (MKR), and Havven (HVN). Another popular release is the USD coin (USDC).

Tether boasts a 1-to-1 peg ration against the USD. The conversion rate is 1 Tether USDT to $1. In the case of MakerDAO, each “Dai” is worth $1 USD. TrueUSD is a fully USD-backed stablecoin with a 100% rate of collateralization. USDC is a fully collateralized US Dollar stablecoin, based on the open source fiat stablecoin framework developed by CENTRE. Customers can tokenize fiat currency into USDC fiat tokens, which can be used for payments and trading in the crypto ecosystem.

However, these coins as well as newer ones entering the market, are regular, fractional based cryptocurrencies. In order to purchase them, customers will need to use an exchange or go through a centralized bank for collateralization purposes thus making the whole process awkward and cumbersome. This is where the main difference with our JIL TOKEN (J1) is apparent.

When the JIL TOKENS (J-series) are launched, we hope to enable a seamless purchasing experience.


The J1 token will be available for purchase after we raise sufficient awareness and popularity through our free JILT giveaway phases. Prices for the J1 will be $1 per token and are basically equivalent to the U.S. dollar. The J1=$1 (The word basically is used because the J1 is a digital currency that cannot be physically held unless redeemed for fiat currency). The J1 may be released during an ICO or through an exchange. Exact method of distribution will be determined and announced in the near future.


The funds raised from the sale of J1 will be distributed as follows:

20% of the funds raised will be used for the continued development of the tokens.

We have ambitious plans to enhance our token as necessary making it the most robust, secure and user-friendly token in the world. We want to continue expanding and improving our token development. These funds will ensure we have sufficient resources to maintain our rate of growth.

20% of the funds will go toward business marketing development.

We recognize that the biggest success factor for any token is its community of users. Therefore, we will be embarking on a large-scale, comprehensive marketing campaign to raise awareness of JIL TOKENS, establish relationships with influential partners as well as centralized entities to educate the public on what makes our token the best and easiest to use in the world.

20% of the funds raised will go into reserve.

The user experience, whether customer or merchant, is greatly influenced by its liquidity. For this reason, we are allocating funds to ensure a seamless system for JIL TOKEN redemption. We want to provide the best experience possible when users interact with our token.

20% of the funds will be allocated to the JIL TOKENS team.

Until the start of the token sale, this project has been funded solely by our members, who truly believe in the project and have no doubt that their vision, hard work, and investment will pay off.

10% will fund our customer support program.

One of the biggest differentiators of the JIL TOKEN project is that we want to implement some type of ongoing support/training to both new and experienced users. We will offer a number of support options, up to and including chat support, once our token gains momentum. No matter what issue, question, or concern a customer has, we want help to always be available and any issues quickly resolved. Our vision is not only to provide support and training on how our token works but any questions regarding the purchase, spending, and redemption of our token. These funds will help us realize this vision.

10% will be used for legal compliance operations.

Our plan is to be compliant with all legal regulations in every jurisdiction in which we operate. This requires local as well as international legal and regulatory experts to continuously monitor our compliance. In addition, when widespread distribution and use begin, there will be a greater need for administrative and operational staff to support a smooth, seamless launch and user experience.