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Obsidian
stone – a naturally occurring glass made from volcanic lava

Cryptocurrency – a digital form of currency

Idoneus
– the premier digital currency for luxury assets

For high
net worth individuals, divesting out of luxury assets can be a real
headache. For example, a beautiful villa
with a large ticket price may take years to find the right buyer, costing the
owner time and money in the interim. And while the owner may not need liquidity
from the sale of the asset, no one wants to take a hit on price or compromise
value.

It may be
that the asset has served its purpose for the owner: perhaps the family has
grown up, or business taken them to another part of the world. There are many
reasons why the original asset is no longer required and finding a purchaser
can be extremely difficult.

The
concept of trading or swapping assets is not uncommon but it is difficult to
find the asset swap that suits both parties and in addition, it can be hard to
match the value of both.

Then how
does one create an ecosystem that allows individuals with more modest incomes to
enjoy luxury goods, even if on a fractional basis or for a temporary period?

The
answer is Idoneus and heading up the company is Jarrett Preston, a man with
extensive experience in international asset trading and with a global reach that is second to
none. His experience in founding and running the world’s only international
asset trading
company, Obsidian International, named after the famed volcanic glass which was
traded for items of value by our ancient ancestors and believed to be blessed
with protective qualities, spans twenty years and covers all corners of the
globe.

Understanding
the man behind the Idoneus Ecosystem is key to understanding why the match is
so strong.

Jarrett’s
career began in the military where he established his leadership style in the
United States Marine Corp. As a precursor to his successful entrepreneurship,
he was asked what were his main takeaways from his time in the military.

“There is
no room for failure,” is his very fast response.

Turns out
his job was a combat engineer and underwater demolition specialist where
failure would have meant probable death.

His
transition from successful underwater demolition specialist to entrepreneur
happened very fast, even by regular success story paths. At the age of 21 he
was invited to join a senior business partner who had a publishing opportunity
in Atlanta. Not a company but an opportunity backed by a meagre $100 in seed
funding. However, in just 11 months together they went from the concept of a
magazine to a full size 120-page
publication. They quickly secured 1,000 points of distribution. It was at this
moment that they needed capital to continue to scale and approached the largest
franchise in the world of the RE/MAX brand.

“We went
to them looking for growth capital and instead they simply wanted to buy us
rather than making the relatively small investment requested. And so, we exited
with agreement of a seven-figure sum for our efforts.”

Quite the
opening salvo for a young entrepreneur. The high-profile success led to many
demands for him to talk about his story and share his insights. In fact, over
the next ten years Jarrett gave more than 600 keynotes, many of them in the
real estate industry.

“We were
lucky, but we also did a lot of things intentionally and that is what the
people wanted to hear about. It was also at this stage that I on purpose, or
maybe it was accidentally, stumbled across asset trading. With one of the
assets I retained from my share of the company I traded for a boat, instead of
paying with cash.

“Once I
had decided to complete this trade, I recognised there were many benefits and
wondered if other people had considered this course of action.”

Jarrett
began to research the concept. He quickly realised that he was onto something
unique.

“What if
there were other folks who might have high value or interesting assets that
they didn’t want any more. Maybe they
had inherited them, grown out of them, increased their value through
redevelopment and now they wanted to monetise them.”

He placed
a number of small public advertisements and within 30 days he had between 45
and 60 people looking for his help. Initially it was ranches, cabins, condos,
high performance boats and sailing yachts, most of them valued from $500,000 up
to maybe $3million.

“Since
those early days we have expanded significantly both in terms of value, scope
and global reach. To date, we have matched trades for private islands,
aircraft, signature residences, rare diamonds and other assets valued as much
as $200 million.

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“The
problem the owners have with these unique, high-value assets is that they are
not easy to monetize. This is where we stepped in.”

From his
fledging asset trading company Obsidian International was created in 2011. By now Jarrett had created a huge network of
high net worth individuals, family offices and organisations looking to divest
their assets but not necessarily into cash or to a single buyer.

‘There
are also tax implications for asset trading as opposed to direct sale and of
course we refer to licensed advisors on beneficial tax treatments in different
countries.”

There are
a number of reasons why Obsidian International has been so successful and
indeed hard to replicate. Jarrett’s customer focus means he is determined to
add value not take fees. In fact, his company does not charge a fee until the
trade is agreed and completed.

“That can
work both ways. We take a hit upfront for travel, introductions, marketing,
meeting people and matching assets etc. But it can take months if not forever
before we find a match. On the other hand, sometimes it can happen very fast.
We are well rewarded when we make it work. 
That approach has proven to build trust over the years.”

Jarrett and
his team have also created a global reach that allows them to match unlikely
bedfellows who might otherwise not have ever met.

“I like
to say that Marco Polo started it, but in this modern world we are continuing
on his tradition. “

However,
Idoneus takes asset trading to a whole new level with the introduction of
blockchain and cryptocurrency.

When
joining forces with the development team at Idoneus, Jarrett could instantly
see the benefit of tokenising the assets.

“When
trading assets there can often be a financial imbalance between the assets however
much
both parties may wish to trade. So, it can be hard to figure out the shortfall.
By tokenising the underlying assets it
offers asset owners a number of choices. We have built a barter trade token, a global
digital currency that allows owners to move in and out of assets and move into
other currencies. We will also go to the public exchanges with the token which
creates a path to liquidity that has not been available to asset owners before.

“In the
history of barter networks one outstanding challenge is that there is no
pathway to liquidity with barter dollars. We have solved this issue with
Idoneus and the IDON Token.”

Tokenising
the assets offers more avenues for the owners of assets. They might barter a high value yacht and
decide to purchase diamonds on the platform – it doesn’t have to directly match
any more as the value can be taken in tokens and then used to purchase other
diverse assets on the platform. Or indeed traded back into fiat via an exchange
as adoption and trade volume builds.

Using
blockchain technology Idoneus can also offer an efficient, secure and
transparent technical solution.

The final
part of the puzzle is the sale of tokens directly which will be available to
the global population at large. The timing for this public sale commencement is
scheduled for the first quarter of 2020; the company is based in Switzerland
with final regulatory approval being completed now. The token is based on the
ERC777 and will be deemed a payment utility. The 777 token was selected as it is the
most advanced and secure utility token available.

“We have
taken great care with every aspect of creating the Idoneus Ecosystem and this
absolutely extends to the choice of the token which holders will use. The
ERC777 is the
most advanced token standard which will be able to meet the needs of those within our ecosystem;
it has new theft-prevention capability, more advanced levels of functionality and
is highly customizable when compared to the previous gold standard, the ERC20.”

The
interesting aspect of the Idoneus project is that the token is asset-centric
from the get-go. While purchasers of the IDON Token will not inherently own a
part of the underlying asset, as members of the ecosystem they can use their
tokens to gain access to the assets in many different ways. As the platform acquires more and more
assets, and forms more and more joint ventures with companies which sell or
rent/charter luxury assets, goods, services and experiences, they are building
in utility for every token holder with each addition of boutique hotels, luxury
condominiums, signature villas, yachts, private islands, aircraft, jewellery,
etc.

Idoneus
intends to provide a pathway for owners of luxury assets to divest out of their
holding and into an asset class which is experiencing rapid growth, increased
utility, no holding costs, and which can serve as a diversifying counterbalance
within their portfolio, but they also synergistically work with luxury brands
to drive their revenue.

“Idoneus
assists its strategic partners by expanding their client base of luxury
consumers, thereby allowing them to sell more. Essentially, the core demographic
at Idoneus is the exact same person that luxury brands seek to reach. Each
strategic partnership expands the options for those within the Idoneus
Ecosystem and allows the luxury company to sell more of their goods, services
or experiences. It’s an unmatched scenario which provides exceptional value for
all involved.”

Jarrett
remarks that at the time of our call he is meeting a wholesale diamond importer
and fine jewellery producer that is creating a unique collection for Idoneus
which will be offered soon to IDON token holders.

“The
major difference is that we're bringing real world assets onto the digital
marketplace of the blockchain. We have a substantial network of asset owners
who are very keen to be involved and are anxiously awaiting final legal and
regulatory approval to launch IDON publicly. The impact on the industry will be
substantial. For example, if someone
owns a $40 million property in the Caribbean, they might have to wait a decade
to exit via traditional avenues. With Idoneus they could secure their exit in
minutes.

“Likewise,
someone else could join the network and use the IDON Token to purchase a luxury
experience at a discount. Perhaps they want to rent a villa, buy a diamond or
spend a week aboard a private yacht. As
we expand the ecosystem and increase the portfolio, we expect the market to
respond very, very well.”

For more
information please visit https://idoneus.io/