Under the concept of a digital currency based on the definition of "hours of work", the company ChronoBank wants to establish a model of own business seeks to open space within the different areas related to the financial sector, attracting professionals and management From Human Resources.
While there are companies within the space of criptomonedas looking to revolutionize the ways and means in which commercial activities are currently ChronoBank offers a proposal that focuses specifically on addressing procurement and payments made to individuals by their professional duties. Here is a brief analysis of the business model of the service company Blockchain re seeks to focus the concept of payments for services with the help of cryptographic technology.
What is ChronoBank?
ChronoBank defined itself as a company Blockchain revolutionary service provider in the area of recruitment and selection, so it is especially aimed at attracting professionals to perform very specific tasks.
Its main proposal is to combine the benefits of other networks and services like Uber and UpWork , which since its inception has facilitated with the support of digital currencies that many professionals can perform work and receive payment associated without the need to go through cumbersome red tape to receive a salary in digital assets.
Basically the proposal is to create a platform where people can run for very specific tasks realization, especially in the areas of e - commerce, cleaning, storage (warehouse work), industrial trades and free construction work ( freelance) . To this end the company has plans to develop a cryptocurrency with very particular specifications under the name of Labour Hour (LH) , which would be handled as currency payments for services rendered.
Labour Hour , digital currency ChronoBank
While there are already digital currencies whose use is quite convenient compared to legal tender, still it generates a lot of mistrust among people who show interest in the riskiest aspects associated with its use, among which especially the issue of volatility price thereof. To this end the company has proposed the creation of a proprietary digital currency, which he defines as the backbone of your business model and is based on a fairly solid principles to prevent its value is driven by speculative see events.
Labour Hour - whose translation into Spanish can be understood as "Work Time" - is a digital currency that is based on the notion of payment for hours, linking its value to the equivalent price of what would be the wage per hour of work handled for each country to sponsor the service. The company states that these digital assets would be backed by actual labor force provided by large companies and recruitment agencies for hiring skilled labor for the above tasks.
The real value of this digital currency associated with this business model lies in the assessment is the work itself, as it seeks to have lots of opportunities for all stakeholders to access these, but also believed to jobs must be a limit to which these are quoted by the value that should really have. Thus, the company argues that there should be a balance between supply and demand, so that wages are sufficiently attractive in correspondence with the responsibilities and specifications should each work.
The digital currency of the company is designed to take its value based on the importance of the work they perform. Being backed by the value of the actual work, these are above inflation and its volatility is minimal compared to other criptomonedas as Bitcoin or ethereum. The company also ensures that its LH enjoy high liquidity and users can make use of these when they want with the use of a debit card specialist.
LabourX, an exchange service for LH
In addition to the digital currency, ChronoBank also has raised the creation of a market service called LabourX, in which interested persons may make the sale of its assets LH freely, changing course bequeath money and other criptomonedas.
According to information published by the company on its website, the digital currency would function as a substitute for payments in legal tender, with the assurance that under this method the remuneration would not be affected by volatility or inflation .
To this end, it has designed a mechanism in which users can trade this cryptocurrency within the platform of the company, as a rating system for sellers in order to receive fair compensation according to the level will be handled ability to demonstrate in their work.
How does the reputation system above works? While the individual has a better reputation based on the performance of the tasks performed for other companies through the website, the higher the price below which can list their working hours. Therefore, the more work done, the better your work will be quoted in future opportunities. For people who start from scratch a standard level reputation which will be set by the company based on their credentials will be handled.
The company said it is conducting a fundraising campaign for the month of December, but before he was doing advertising campaigns to publicize your business proposal extolling the associated benefits.
Then we leave here a video by English words to know the company a little more about your business proposal.
For more information, we recommend that you visit the website ChronoBank, which can be accessed by clicking here.
author : tyoA7X , 244076
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