JOULE is a decentralized platform built on the EOS blockchain to determine real-time Global Popularity Index. In science, Joule (“J”) is a measurement unit of energy. On the platform, Joule is the measurement unit of the popularity of an item (e.g. a political leader). For simplicity, the popularity index of any item (tracked by the latest market price) is on a scale of 0J to 100J with a price interval of 0.1J. For example, an item “President A” with market price 55J is more popular than another item “President B” with market price 45J. Through the price discovery mechanism of the Joule exchange, market forces of all users collectively determine the popularity index, reflecting a fair evaluation of public figures. Joule is also the crypto-currency in the ecosystem.
JOULE is the world’s platform for decentralized Global Popularity Index built on blockchain, as well as a payment network. In science, Joule (“J”) is a measurement unit of heat energy. Here, as a metaphor for the heat energy, Joule is the measurement unit of the popularity of an item (e.g. a political leader) or how hot it is. Joule is also the crypto-currency on the platform. On a scale of 0J to 100J, the popularity index of an item is tracked by the latest market price on a unique Joule exchange. Users place orders on the exchange to take Long or Short positions on an item based on their observation of the world, their own views and trading strategies. The trading is a zero-sum game. If the market price goes up, Long positions gain and Short positions lose. Conversely, if the market price goes down, Long positions lose and Short positions gain. The system will automatically match orders and reflect the gains and losses of all users every day. Each user keeps a portfolio of such net positions and an account balance of Joule tokens. In essence, through the price discovery mechanism of the Joule exchange, global users collectively determine the popularity index, which reflects the fair value of the public figures. Besides making gains by trading Joule Index wisely, another way to earn Joule tokens is by referral. Users can receive a recurring reward by teaching others about Joule and taking up a few responsibilities. Each trade incurs a small transaction fee. Through the Referrer Commission scheme, a referrer can earn part of the transaction fees contributed by their referrals every month. A second use case to earn Referrer Commission is through spending Joule as a payment method at businesses. Each time you PAY Joule tokens to a business’s blockchain address, they will contribute a percentage to the ecosystem, part of which will become Referrer Commission. In other words, it is one simple referral network with two separate use cases to earn commission. In a nutshell, the value propositions of the Joule platform are: to empower People’s Voice and be a trusted source of Global Popularity Index; to empower people to earn an extra income in crypto-currency by teaching others blockchain technology.