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How can JAX coins help humanity become a type-2 civilization?

by Maryna Trifonova, Head of Content at Jax.Network

Technology goes hand in hand with the development of humankind, from the invention of the fire through the Agricultural Revolution and to the latest blockchain trends. Can we assume that our civilization has started a new development cycle? Let us give you our point of view.

Progress and technology

By progress, we mean the development of new methods for producing goods, which often are achieved due to the invention of new technologies. For example, electricity. Without it, we would still be living in the Dark Ages, literally.

Some of the prominent anthropologists, including Lewis H. Morgan and Leslie White, agreed on the fact that technological progress should be considered as the primary factor responsible for the development of human civilization. Looking back on history, Morgan branched out three pivotal moments that defined the development trajectory of the nations such as savagery, barbarism, and civilization. But we are more interested in White’s theory, where he argues that energy is the main measure by which we should judge the evolution of culture.

In “The Evolution of Culture: The Development of Civilization to the Fall of Rome”, White says “culture evolves as the amount of energy harnessed per capita per year is increased, or as the efficiency of the instrumental means of putting the energy to work is increased.” He further goes on “we find that progress and development are affected by the improvement of the mechanical means with which energy is harnessed and put to work as well as by increasing the amounts of energy employed.”

Later, these principles would become the basis of White’s law, which distinguishes the five stages of human development. During the first stage, people use the energy of their own muscles. Then, they use the energy of domesticated animals. In the third stage, they use the energy of plants, while they use the energy of natural resources (oil, coil, gas, etc.) in the fourth. And finally, they learn to use nuclear energy.

Energy and beyond

Taking into account the fact that we are almost 80 years ahead since the creation of White’s law, we can assume that it would be reasonable to add blockchain and its products as the sixth stage of human development. During this stage, we use the energy of computers.

We at Jax.Network have gone even further and created a perfect example of “putting the energy to work”. Our sharded Proof-of-Work blockchain issues scalable and stable JAX backed by the energy spent. It’s not collateralized by any asset but rather pegged to the hashrate, i.e. the cost of one unit of computing power. Therefore, all JAX coins are mathematically equal around the world. We argue that an energy-based currency is exactly what humanity needs to start a new development cycle and become a type-2 civilization.

A universal cryptocurrency such as JAX would make many aspects of human life much easier. For example, the poverty problem can be solved with a simple UBI tax, assuming everyone is transacting via the same currency (JAX). So by taxing every transaction and distributing funds back to people, the system ensures that everyone has their basic needs covered, not to mention lots of free time for self-education. Indeed, a UBI (read more here) has the potential to end inequality and create a way for a more educated society i.e. a meritocracy. An advanced society would invent more and more ways to improve our life and introduce a better governance concept based on a Proof-of-Hashrate burn mechanism (Proof-of-Equity).

Conclusion

Energy is a truly unique concept, as it may assume different forms and perform different functions. The full potential of energy is still yet to be discovered. However, Jax.Network has already innovated a new way of its application — a universal standard for quantification of economic value.

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LinkedIn: https://www.linkedin.com/company/jax-network/

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Jax.Network provides the technological infrastructure for a decentralized energy-standard monetary system. Our blockchain is anchored to the Bitcoin network and issues two digital currencies JAX and JXN.

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