J O O S
J O O S
E X E C U T I V E S U M M A R Y
Debt – it’s the biggest business in the entire world.
Two hundred and fifty trillion dollars of debt litters
our global economy. That’s the equivalent of
$35,714.00 each for every man, woman and child
on this entire planet. What an obscene amount of
waste.
Its not the matrix, its our economy and now that
you understand the magnitude of our debt, you
also realise one undeniable truth…our world is
bankrupt!
Our economy wont survive, the fact is, its dead
already, the entire world is just walking around in
denial – funnily enough, one of humans most
predictable emotional responses.
Debt is a cancer and human beings are the
bloodstream metastisising the cells. We let it build
up, we produce more bad debts to cover up the
old, we don’t collect on debts, we don’t reconcile
our books and the financial waste just keeps
building and building.
Debt, particularly unresolved debt, is a burden on
society. The first path to a healthy economy and a
healthy progressive commercial or personal life is
to extinguish debt.
A S I M P L E S O L U T I O N
JOOS is a simple solution to a global problem.
Global debt is a compounding problem, the less
people pay and settle, the more bad debts are
created. So let’s stop the bleeding and start some
collecting and consolidating. This is the first layer
of the JOOS protocol.
Phase 1. A very simple solution to debt collection, a
solution we call the accounts receivable
mainframe or the acronym ARM.
The ARM network is simple, efficient and
scalable and ensures account resolution faster
than any other model in the market. We are
disruptive because we are both faster and
cheaper than all incumbents and we strip away
all the resource and labour intensive processes
in traditional debt collection. Furthermore, we
circumvent industry restrictions and remove
human empathy from the collection process.
D E B T R E S O L U T I O N
A modern approach for a modern economy.
As if debt collection wasn’t already a difficult task
as trying to communicate with anyone who doesn’t
want to communicate always is, the law is also
highly geared to the debtor.
The debtor can:
not answer the phone
Not reply to emails
Change phone numbers
Change details
Move cities
Move countries
Play the rope a dope
Provide false information
Request that you stop speaking to you
File a suit for assault
Take it to court
Arrange a redundant payment plan
Which can also be defaulted on
And at the end of the day, the debtor can always
file for Bankruptcy. You are out of pocket for all
costs incurred in debt recovery and the debt is
now a write off. This is a broken process.
P S Y C H O L O G I C A L W A R F A R E
Reputational damage is a better driver than most.
Damage to ones ego sets off our primate
biochemistry. A simple test:
Which person would you pay back:
- The angry guy making threats and calling you
daily?
- A whole group of people compromising your
reputation globally?
The reality is harsh, but it’s the truth, human
beings are emotional species and leaning on these
very predictable emotions is how JOOS will
become the most effective and largest debt
collection agency in the world.
W H Y T H E B L O C K C H A I N ?
So why the blockchain?
Preserving the integrity of data
Providing a trustless network
Identity protection
Immutable transparency
No geographic, political or social prohibitions
No profit taking middle men
So why the cryptocurrency?
Circumvent financial laws
Circumvent multi-currency forex challenges
No legal restrictions
No licenses
Community incentives
Bounty functionality
Seamless payment settlements
For more details, please refer following:
W: www.jprotocol.io
TW: https://twitter.com/joosprotocol
B: https://bitcointalk.org/index.php?action=profile;u=2410389