Jax.Network Blog
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Jax.Network Blog

What does real decentralization look like?

by Maryna Trifonova, Head of Content at Jax.Network

Decentralization lies at the core of any democracy, as it helps to increase efficiency and effectiveness at all levels of communication. Thanks to blockchain, we have an improved version of the democratic mechanism now. DAOs act as ready-made solutions for efficient governance eliminating issues such as corruption and bribery native to human beings.

Corrupt societies are a thing of the past

The modern world tends to evolve in a democratic way, meaning everyone has rights and freedom to influence the future of our civilization. Indeed, some societies may take more time to get to the ideal construction given their vulnerability to corruption and bribery, not to mention the ignorance of basic human rights. Such societies often turn to utilize centralized organization systems guarded by force and fear and can be characterized by abnormal abuse of power.

A vivid example is Russia, which is seen as the most corrupt country in the world, according to U.S. News’ rankings. Russia’s neighbors in this list include South Sudan, Somalia, and Syria. It doesn’t come as a surprise that all the above-mentioned countries show lower-than-average economic growth, not to mention high inequality and poverty rates.

Meanwhile, the countries with low corruption levels such as New Zealand, Denmark, and Singapore have a tendency to show higher economic growth and better equality of opportunity in general. For example, New Zealand has its third female prime minister currently serving her duties. It’s also interesting to note that all these countries have strong democratic institutions with populations highly involved in political processes.

DAOs as a crucial part of web 3.0 future

Going forward in the future, blockchain technology has the potential to decentralize everything, from supply chains and bank settlements to community governance. Decentralized autonomous organizations (DAOs) have already shown a splash in popularity starting in 2021, with Uniswap, a decentralized cryptocurrency exchange, being the most famous example.

We at Jax.Network tend to think several steps ahead envisaging the world of tomorrow and we believe that DAOs have a great chance to become an inevitable part of our future due to multiple reasons. First of all, DAOs have absolutely transparent balance sheets, allowing everyone to see the details of each transaction. It helps to eliminate manipulation, corruption, and bureaucracy inherent to centralized organizational systems. Secondly, DAOs are more efficient, as every member of the community can register and vote on proposals, thus showing higher levels of enthusiasm and collaboration. And finally, they open opportunities that have been closed for small-scale investors for a long time. For example, anyone can become a movie producer now by participating in a relevant DAO.

Keeping all the previous points in mind, we created JaxCorp DAO to secure the steady development of each and every individual as well as our civilization at large through a well-balanced governance system, which is described in great detail here and here. As you can notice, it’s immune to any human error thanks to blockchain technology which is impossible to tamper with. Moreover, our JaxCorp DAO is built with proper taxation in place, meaning the community has a sustainable source of funding for its universal basic income (UBI) system, which plays a central role in the entire ecosystem. To learn more about our DAO, please visit https://jaxcorp.com.

Conclusion

DAOs have made the promise of decentralization a reality. They highlight all the best features of blockchain technology and eliminate human error, encouraging every member of the community to work for the benefit of the entire DAO and securing a better tomorrow for many generations to come.

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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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