The Jad Economy is an alternative economic system using the digital one-way currency Jad. In contrast to traditional money or crypto money, Jad are not free transferable.
In order to create Jad, a claim with a Justification has to be published undeniable according to certain rules. New created Jad may only once be booked on an open account (accounting), allowing to save them for later use. Spending Jad, e.g. for paying a bill, always means to terminate their life span (destruction). Hence, it is impossible to transfer Jad between two accounts, for instance. This makes it easy to control the total amount of Jad. It also simplifies financing public authorities and social security systems. Certain finance crises and dept crises can principally not occur in a Jad Economy. However, some basic business concepts such as reselling or to allow a credit require new concepts ensuring that they do not open up indirect ways to transfer Jad without limits.
With wage claims for creating new Jad the Jad Economy offers a flexible and transparent concept to provide performance-linked wages, only differentiating between comparable performances (i.e. performances in the same kind of activity). This approach might for instance help to support pupils and students as well as creators of immaterial goods in a competitive way not possible on a free market in an economy with a conventional monetary system. But the concept is also complex and it is not yet clear if people will be able to find good solutions for all kinds of activities.
Defining the common rules for justified claims to create Jad the participants themselves can influence and develop the character of the Jad Economy. For example, it is possible to approximate economies using conventional monetary systems in different forms from a totally free market economy up to a very social market economy. Nevertheless, there are also innovative different possibilities. One is to reward an optimization of the balance between supply and demand instead of the maximization a free market leads to. Such a balancing Jad Economy could help to protect the environment, to limit the waste of resources and to prevent extreme climate changes.
Currently the Jad Economy is nothing but theory, a vision with concepts. A lot of further research and development are required before it can become a practically useable economy that coexists as a free selectable alternative to existing monetary systems. At the moment, neither the required platform for non-repudiation data nor an applicable formal set of rules for the Jad Economy exist.
On jad-economy.org the latest findings and the current state of the development of the Jad Economy will be available. Everybody has the opportunity to participate and to help to make the best of the base ideas.