What is JoorsChain (JIC)?
Digital advertising is a massive industry worth hundreds of billions of dollars each dollar. Unfortunately, the industry is rife with advertiser fraud and customers must end up footing the bill. There have been advancements to lower advertiser fraud, but it’s still a major problem in the industry.
JoorsChain is a blockchain project attempting to lower the amount of advertiser fraud by using blockchain fraud. This article will explain JoorsChain’s plan to reduce advertiser fraud and whether or not this project is a good investment.
What is JoorsChain (JIC)?
JoorsChain was launched way back in November 2017 at the peak of the 2017 initial coin offering (ICO) bubble. The project saw some level of success back then despite not having anything more than the most vague plan. Investors could invest into the project by sending Ethereum to the smart contract address in exchange for JIC ERC-20 tokens.
Sadly, the founders of JoorsChain did absolutely nothing with the Ethereum that they received and none of the roadmap goals were ever met. The project faded into obscurity starting in 2018 and now currently has a trading volume of $0 per day.
It’s a dead project.
There were a lot of red flags when this project was launched that it would completely fail. The next section will cover all the red flags of JoorsChain.
JoorsChain’s Many Red Flags
This project had so many red flags that we are surprised that anyone even invested money into it. There is literally nothing about this project that indicates it would be anything other than a massive scam. Here are some of the red flags.
The first flag that JoorsChain was a scam was the lack of whitepaper. Any serious cryptocurrency project needs a whitepaper that describes what the project will do and how it will do it.
A lack of whitepaper indicates two things:
- Founders that have no technical knowledge and are unable to write a whitepaper.
- Founders attempting to scam investors.
Neither of those two things are indicators that you should invest in a project.
No Technical Details
The other issue with JoorsChain is that the website has no technical details about how the project will accomplish its goal. The project basically just states that they will use blockchain technology to reduce fraud in advertising.
That’s great, but how exactly will they use blockchain technology to do that?
The answer to that question cannot be found anywhere on the website.
A project that says they will solve a problem and then provides no technical details on how they will solve that problem is a very bad sign. Anyone can say anything, but they must provide some sort of proof that they at least know what they are talking about if they want to be taken seriously by investors.
The Website is Nonsensical
The few technical details on the website, if you can even call them that, are mostly nonsensical gibberish. It is as if the author of the writing just used a bunch of buzzwords related to blockchain technology.
The above example makes pretty much no sense. What does “usage uptake” even mean?
We assume it means that JoorsChain already has clients and will simply migrate those clients over to their “blockchain solution.”
If that’s the case, then who are some of these clients that JoorsChain has? Why does JoorsChain even need investor money in that case? What benefit will the token provide to the user?
Those are the types of questions you have to ask. If the developers cannot answer those fairly basic questions, then you should run away from the project.
The final nail in the coffin for JoorsChain is that the project has anonymous founders. A project that allegedly has founding companies that have 1300 employees and 50 million ad views has anonymous founders.
That makes absolutely no sense.
Why can’t JoorsChain name some of these founding companies? Why did the founders stay anonymous?
JoorsChain is a Scam
JoorsChain is a scam project. In fact, this is one of the most blatant scam projects that we have seen. Granted, this project was from 2017 when scams were not quite as elaborate as they are now.
The good news is that the project appears to have died based on the coin trading data.
That’s a trading volume of $0 or near $0 for the past three months. And it has been that way for the past few years.
Despite this, people are still talking about this project on Twitter as if it’s a good investment. This is likely people trying to unload their now worthless JIC onto unsuspecting people.
Ignore them. JoorsChain (JIC) is a terrible investment. The founders abandoned this project a long time ago and nothing will come of it.
To summarize, JoorsChain is a dead cryptocurrency project all the way back from 2017. It has been talked about on Twitter and TikTok recently by bad actors shilling it.
As we have shown, this is not a good project and one that you should stay clear of as a potential investment.