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Project Jedius

I. Introduction

“Money functions as a medium of exchange, a unit of account, a standard of deferred payment, and a store of value”
Money in itself has little value, it is a promissory note issued from the central bank which is mandated by the government. Money as a store of value is not very efficient. Money is also a standard of deferred payment and hence requires trust. Trust is of key importance here.
Jedius is offering all users a chance to embrace an alternate system. The Jedius, will give people the means to control their own money supply and effectively acting as central banks in the Jedius.

II. Executive Summary

Jedius is a project for an alternative economic system. The aim is to decentralize the central banks by enabling users in the Jedius to act as their own central banks issuing Jedi which are multiplied based on the Jedos of the individual in a trust index.

Market Opportunity
The faith in the traditional systems of money has suffered a loss of credibility, and the aim of the Jedius project is to step in and provide an alternative. The volatility in the world markets has eroded the faith in the monetary system. Jedius aims to provide an open alternative.

Use of Proceeds
The proceeds are to be put forth towards propagating an alternate system.

Financial Snapshot
“By the people, For the people.”
Will be an open source project managed and run by people.

III. The Enterprise

The Product

Each user in the Jedius will be their own central bank issuing credits or IOU which are multiplied based on the credibility of the users in a trust index. Users are free to issue more credits or IOU units. The IOU units are multiplied by the individuals Jedos or credibility in a trust index to be used as an individual’s medium of exchange, Jedi. The Jedi is a floating value relative to the user’s own Jedi value. Issuing more IOU could reduce the Jedi value relative to others. An appreciation in a user’s Jedos in the trust index could increase the value of the Jedi relative to others, or more Jedi could be issued. The individual user’s Jedos in the trust index will be dynamically updated by feedback from other users. Users can also choose to reject or honor the Jedi of another user which will have an impact on the other user’s Jedos in the trust index and the Jedi value of the users IOU. An individual can keep the IOUs of other users separately and use it where their IOU is rejected or can use it to augment their Jedos to issue out more IOUs of their own and/or revalue their Jedi. Users can also exchange IOU amongst themselves. The Jedos can be augmented by a pool of resources, currencies, commodities, stocks, bonds etc. An initial Jedos value will be assigned by the system, which might use a process similar to a credit check. A user’s IOU may vary in value compared to others, but will see all other user’s IOU as a Jedi value relative to its own.
Every user will have a profile page where they can display their cart. When sending Jedi the user can also send a precondition to be accepted by the receiver. The receiver can accept, reject or suggest a modification for the condition.

Competitive Advantage
The Central banks have had a monopoly on the supply of money and along with the banks have controlled the lifeblood of the economy, i.e money and credit. The Central banks had this monopoly mandated on them by the government who were in turn mandated by the people. The Jedius takes the mandate back to the people. Money by the People, For the People.

Jedius reduces the barriers of entry into central banking for the masses, allowing individuals to control the supply of their own money and have it valued amongst peers. Where the Jedius differs from the competition is, that the Jedius isn’t selling to its customers, it is creating a platform for facilitating an economic system.

IV. The Market
The Industry
MONEY! It is highly valued as a medium of exchange. Previously, gold had been used throughout the world as a vehicle for monetary exchange, either by issuance and recognition of gold coins or other bare metal quantities, or through gold-convertible paper instruments by establishing gold standards in which the total value of issued money is represented in a store of gold reserves. The fiat currency of later was pegged to the dollar which had been backed by gold before, and is now a legal tender for debt.

Market Size and Growth
The Central banks have been running a monopoly on the issuance and distribution of money. It is as yet an untapped basket with the potential to free us all from debt.

Target Market
The Jedius project is geared towards providing a decentralized money system for the general people. The initial target market will be through word of mouth.

Competition
The competitors are the monolithic central banks who have enjoyed an absolute monopoly on the supply of money and credit. The Jedius project aims to open that monopoly giving that power to the people.

Promotion and Advertising
The principal mode of Promotion and advertising would be done through social networks and the open source community where it will be further developed.

V. Operations
The Jedius will be a fully decentralised system and will be operated by the people

VI. The Organization
The Organization is a flat hierarchy.

VII. Risks
Security, it is a system of money and will need to ensure security from all manner of cyber hacking attempts to discredit or manipulate. The security will have to be robust as it is integral to the trust in the community which might be shaken by security breaches.