Jax.Money is a stablecoin payments system with 100% on-chain reserves backed by energy spent, or Proof-of-Work. This platform allows users to issue localized derivatives soft-pegged to an energy-underwritten stablecoin (Wrapped JAX). As WJAX is a decentralized representation of JAX, it maintains all the properties of the latter, including scalability, stability, and security.
In other words, we have created a place where you can get a digital representation of your local currency, which retains its stable value. Such localized stablecoins as JAXUD, JAXRE, etc. are issued on Layer-2 with the help of smart contracts and can be redeemable to their respective currencies at a 1:1 rate.