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.


Global wealth is a statistic that is continuously on the rise, currently sitting at an estimated $250 trillion. With this amount of money present, there must be vast means to move it as well. A disproportionate amount of these assets are controlled and stored by banks and other financial institutions.

However, many including the founders of the JILTOKENS project, believe that Blockchain technology is the way forward. Specifically, the founders affirm that blockchain technology is better for trading, storing and administering these assets. And with the unique benefits that the J1 has to offer, probability of these assets migrating to blockchains is very high.

Prior to appreciating the full benefits the J1 can bring, understanding the advantages of cryptocurrency is paramount. These advantages consist of 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. Despite these advantages, there remain barriers preventing the mainstream adoption and daily use of cryptocurrency. These include volatile price fluctuations, inadequate mass market insight of the technology, inaccessibility, scalability issues, and the lack of user-friendliness for non-technical users.

Recognizing these issues, the J1, sets out to rectify them. These tokens are to be utilized in the same manner as traditional paper or fiat money. They are tied directly to the United States Dollar (USD). Simply stated, the J1 is the tokenization of USD on the blockchain. In turn, the value of the J1 serves to solve many of the liquidity issues suffered by other tokens. Additionally, these tokens maintain the lowest fees for any user as well as making it an optimal currency for merchants. These are just a few features that truly set the J1 apart not only from traditional fiat currency, but other cryptocurrencies as well.


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

The mission of the J1 is to prove this statement wrong.

This will be accomplished by​ ​the expansion of knowledge regarding cryptocurrencies, encouraging everyday use while providing a simplified way to make purchases throughout the world.


Cryptocurrency — a form of digital or virtual money that is 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.

This report not only revealed general awareness, but also tracked which currencies the average american knows or is familiar with. 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.


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


Volatility and cryptocurrency are practically symbiotic. Market volatility is an attribute usually caused by many looking for a quick profit. Because of this, volatility is a major drawback that cripples most well-known currencies from becoming popular. Despite many claiming to be the ‘Currency of the Future’, most of them are still subject to drastic price changes during transactions. Needless to say, such changes are harmful to any prospective currency. Imagine if the value of the dollar were to drop or rise 5-10% daily.

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 J1 is utilized like the US dollar, this allows for price stability.


Despite cryptocurrency being more accessible to the average person than traditional stocks and bonds, it still requires a large amount of technical knowledge to utilize properly. While apps like Coinbase substantially lower the skill floor for newcomers, it severely limits actual use of crypto. Coinbase causes cryptocurrency to act more like a mobile portfolio rather than a payment solution. Despite the effort put into these applications, they might as well be written in a foreign language as most developers assume a certain degree of technical knowledge from a new to casual user of crypto.
The lack of incentive to truly rework the payment system to be “one swipe, one click”, remains overall more cumbersome and confusing to pay in crypto than with traditional methods.

Additionally, regarding inaccessibility, is the fractional nature of most crypto. This may sound trivial, but a dollar can be divided into 100 cents and while these cents are no longer divisible on their own, this can easily be understood in sharp contrast to cryptocurrencies that are divisible to infinitesimal fractions, like the popular and well-known Bitcoin. Speaking of Bitcoin, the price of a full Bitcoin is about $7-9,000 USD. The inability to use it on a daily basis as well as own a full Bitcoin further cements its inaccessible nature.

Obviously, a full BTC would be infrequently used in everyday transactions, but due to its fractional nature, one could pay with 0.00001 BTC, if necessary. The issue is translating this fractional value into an amount the average person can understand. Simply put, one dollar is easier to comprehend for the average person, whereas 0.001BTC is not, at least not without a conversion calculator.
The J1 is designed to remain affordable regardless of market movement and does not have fractional values.


There are technical limitations of cryptocurrency, the most pertinent of which is scalability. The lack of scalability further limits the mainstream adoption of cryptocurrency. Scalability is the ability of a given chain to process a large volume of transactions rapidly. It has been said that “Bitcoin cannot handle the volume of transactions processed by mechanisms being used in the real world.” The network throughput is simply too low to process the global volume of transactions. For cryptocurrency to be adopted worldwide, this issue must be solved.

Upon creation, the design of Bitcoin was never intended to handle a high amount of transactional volume. When used in niche applications, it is not an issue. But due to its rising popularity and the recognition of blockchain benefits, this is becoming a major issue. In comparison, PayPal manages 193 transactions per second, Visa handles 1,667 transactions per second. In the world of crypto, Ethereum handles only 20 transactions per second, while Bitcoin manages a paltry 7 transactions per second.

Many of the ‘legacy’ cryptocurrencies recognize this issue, with the advent of ‘lightning networks’, designed to boost network scalability and transactional throughput. Some newer currencies place a heavy focus on this feature, all competing to become the transactional cryptocurrency frontrunner. The J1 does not have scalability issues due to its unique implementation which is mostly p2p rather than network transactions. Also, because of its simplicity this enables manageability.


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 the J1 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.
Alternatively, having a cryptocurrency that can act as fiat, remove the high fees and all the other issues associated with credit and gift cards are enticing features that will attract mainstream adoption of the J1 as a competitive payment solution.


For practical use and implementation, there will be a single token: The J1. It is non-divisible and there are no fees when purchasing the J1.

Example 1: A user wants to convert $50 in USD to cryptocurrency so they buy 50 J1. This process is easier and saves time as opposed to the purchasing process of most cryptocurrency.

Example 2: A user wants to convert $2000 in USD to crypto they buy 2000 J1. It is as simple as cashing a $2000 check but without the check cashing fees. Think of counting 2000 $1 bills. That would be slow and time-consuming. Once the $2000 is on the blockchain, it becomes more mobile and faster than most traditional payment solutions.

Upon creation, the design of Bitcoin was never intended to handle a high amount of transactional volume. When used in niche applications, it is not an issue. But due to its rising popularity and the recognition of blockchain benefits, this is becoming a major issue. In comparison, PayPal manages 193 transactions per second, Visa handles 1,667 transactions per second. In the world of crypto, Ethereum handles only 20 transactions per second, while Bitcoin manages a paltry 7 transactions per second.

Many of the ‘legacy’ cryptocurrencies recognize this issue, with the advent of ‘lightning networks’, designed to boost network scalability and transactional throughput. Some newer currencies place a heavy focus on this feature, all competing to become the transactional cryptocurrency frontrunner. The J1 does not have scalability issues due to its unique implementation which is mostly p2p rather than network transactions. Also, because of its simplicity this enables manageability.

Another unique feature of the J1 is the fact that one is equivalent to $1 and non-fractional. Simply stated, the buyer must pay the amount closest to the cost of the merchandise being purchased. In other words, there is no change during the transaction.

For example: Rather than using pennies, nickels, dimes, and quarters, one must round up or down respectively. If the total cost is $13.92, round it off to $14 and give the merchant 14 J1=$14. If the total cost is $13.29, give the merchant 13 J1=$13 (the final payment will be at the discretion of the user and the merchant).

The J1 can be thought of as digital cash, a gift card or credit cards. It can be used for online and offline purchases with merchants accepting the J1. Buyers can give them as gifts through P2P transfer or hold them for future use. Moreover, due to being entirely digital, it can be transferred across borders in any quantity, can be universally accepted, and is completely secure for the user. After receiving payment in J1, the merchant is able to do anything they would with cash such as making business purchases, converting the J1 to FIAT, or simply holding the currency.

When merchants redeem the J1 for fiat currency, there is a flat rate processing fee of 3%, Users who wish to redeem their J1, although strongly discouraged because normally one would not redeem a gift card for cash, there is a 2% fee. This is more cost effective than the high percentage rates banks charge for accepting credit card payments and the use of their POS terminals. This fuels adoption as merchants who choose to accept the J1 for payments retain more business profits. To illustrate this simply, a merchant who converts 100 J1 to fiat receives $97 USD.

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 the J1, 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 the J1!


Our limited edition JILTOKEN, the JILT which is used for awareness and fund raising purposes, is implemented as an ERC-20 token on the Ethereum blockchain that uses the smart contract protocol. The JILT was created specifically for our token sale. There is a limited total supply quantity of 65,000,000 thus preventing hyperinflation. Unlike the J1, the JILT is fractional having 18 decimals and it is to be exchanged with the hope of rising in value like ETH or BTC as well as other classic cryptocurrencies.

Smart contract is a protocol intended to digitally facilitate, verify, or enforce the negotiation or performance of a contract. These allow the performance of credible transactions without the intervention of a third party.


Some of the most popular stablecoins attempting to bring electronic payments to the mainstream are Tether (USDT), TrueUSD (TUSD), MakerDAO (MKR) or DAI. Another popular release is USD coin (USDC). Tether boasts a 1-to-1 peg ratio 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 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 usually fractional cryptocurrencies. In order to purchase them, customers will need an exchange that charges exorbitant fees or a centralized bank for collateralization purposes thus making the whole process awkward and cumbersome. By adding an extra step where one is not needed, this can lessen the utility of the coin. The J1 plans to depart from this trend, by creating a distribution method that will require no fees upon acquisition. Exact distribution methods will be announced in the future. When the J1 is 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 and token sale. Prices for the J1 will be $1 per token. Simply stated, the J1 is the tokenization of USD on the blockchain. The J1 will be implemented on a private blockchain (to be determined at a later date). This will reduce user fees and maintain our goal of simplicity as well as create mass adoption.


The funds raised from the sale of JILT and subsequent sale of the 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 through constant 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 continuous 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. Thanks to this reserve of JIL, liquidity and smooth transactions are guaranteed.

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 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.

10% will fund our customer support program.

One of the most important aspects 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.