Jurat launched with a team of blockchain engineers and lawyers set to design technology that connects state and federal courts with blockchains. This infrastructure was successfully completed at the beginning of this year and resulted in the launch of the native token, JTC on January 8th, 2022.
With Jurat, we sought to create a safer token for individuals to transact on-chain. This meant developing technology that would pioneer a new field of legal rights for Web3, DAOs, and traditional commerce. After several months of developing the infrastructure, we started sharing our technology publicly, and from there we took off. Over the past 3 months, Jurat went from a team of 5 to a community of 4000. Spinning up a Discord, Twitter, Medium, and Telegram to welcome members from across the world.
To build our community we utilized a variety of campaigns to help users get started on the network. This included:
All of these provided members the opportunity to interact, support one another, and earn tokens to get started in our ecosystem. These initiatives also created a close environment between the team and community, allowing us to connect directly with our members and understand their thoughts and expectations.
At this time, the majority of our community is based in South East Asia, Africa, and Europe which initially meant a delay of communications with our US based team. However, over the past several weeks, community members naturally took it upon themselves to answer questions and help users when the team was resting, allowing us to spend more time building the network.
The next milestone we hit was the creation of a natural market for the JTC token. Our goal was to follow a similar approach to the early days of Bitcoin, allowing a market to first start amongst our hobbyists. We wrote about this in a recent article: Early days of BTC and now JTC
“This first transaction set the price as hobbyists would just trade back and forth with each other. But it was these first transactions that were essential for developing a healthy marketplace for the token.”
Jurat hit this milestone with the first successful trade of JTC for a real-life item this week! Community member, Vikas Bhardwaj, spent 0.1 JTC to purchase an iphone 13pro and created a value of 0.1 JTC to 1675 USD — essentially starting off our market.
It is important to us to help foster these types of transactions and not rush to listing. For any new cryptocurrency, organic growth can help ensure that a network is secure, stable, and accessible to users for the long term. As was shown by Vikas, there is value in our product and we will continue to improve our infrastructure to help secure the legal rights of users on chain — so the road to 10k, 20k, and 1 million users flows organically.
If you want to join in the journey, visit us at Juart.io and sign up for the Jurat Early Adopters Club.
We look forward to seeing what you buy with your JTC!
