ChronoBank.io, a Blockchain Revolution for The Recruitment Industry Bringing an Alternative Solution to Traditional Systems for Mainstream Market Adoption
ChronoBank.io is a Blockchain Revolution for The Recruitment Industry bringing an alternative to traditional financial systems for mainstream market adoption founded by Edway Group Ltd. This leading Australian companies in industrial training and labour supply has suceesfully created ChronoBank.io to collect 3,265 BTC (3,013,190 USD total value), 1,790 participants consist of 1,428 BTC, 3,443 LTC, 25,926 ETH, 10,902,446 NEM, 237,624 WAV, 8,608 EMC, 14,952 ETC and totally 1,108,180 USD. All of portfolio of this company has served more than 400,000 satisfied customers and a team with more than 100 years of combined relevant experience.
ChronoBank.io, a Blockchain Revolution for The Recruitment Industry Project challenging the status quo for mainstream market adoption
ChronoBank.io offers freelancer an alternative to traditional financial systems as mention at HR/recruitment/finance industries the in a similar way to how Uber disrupted the taxi business and how Upwork represented.
ChronoBank.io has been designed by a consortium of professionals with over 100 years of combined recruitment experience, in consultation with experts who can create the software to leverage blockchain technology to solve real-world business problems.
In simple way, we just want to offer you joining with us to create a revolution in short-term recruitment within key professions. This way maky people easier to get work as they want and rewarded for their labour – doing so within a decentralised framework and without the involvement of traditional financial institutions.
Blockchain Project Concepts: Time-Based Cryptocurrency of ChronoBank.io to Change the Labor Recruitment Industry
Time-based cryptocurrency could be options of ChronoBank.io, in the concpet of blockchain project. This project is enable to create an alternative labor economy based. ChronoBank.io has been launched in its website and announced a December crowdfunding campaign. This system will be revolutionize in the short-term recruitment industry as simulated in the way Uber changed the taxi industry, an so on. The compnay that need this method will be able to create blockchain-based labor hour tokens and a decentralized marketplace where people will sell labor time.
The recruitment industry and cryptocurrency supported by ChronoBank ensure customers to believe the time-based currency concept can change the way of their work as mention in this concept below:
The New Task and Job Responsibility For Time Banking Blockchain Project
Time banking has proven successful in limited settings, Using this method this will set built on the time currency that suited to a broader application in the 21st-century global workplace. This make short-term recruitments as profitable and prestigious as long-term recruitments. Time-based cryptocurrency is the key component of ChronoBank’s idea.
Labour Hour Works Blockchain Project
Labor hours calculation is critical point in the Blockchain Project and could be linked to average hourly wages in the host country and are backed by a real labor force according to the ChronoBank website.
The calculation is backed by real labor compensate inflation-proof and have next to zero volatility in comparison to bitcoin and other cryptocurrencies.
Awareness Needed on multiple blockchain platforms
The first stage of Blockchain Project take care of presence in the cryptocurrency community. This presence provides information and answering questions all user need before launching the crowdfund in December.
This awarness is should be understood well. It is more broadly about the idea and advantages of time-based currencies. ChronoBank.io wants to hold the crowdfund and issue labor hours on multiple blockchain platforms, including Ethereum, Classic, Waves, Lisk, emercoin and bitcoin, depending on demand.
ChronoBank.io primary target professions
ChronoBank.io is solution that more sustainable than any of the fiat-pegged or backed coins that currently exist in the crypto market for this professions as below:
- E-commerce professional to enhance relationships with retailers and consumers by decreasing listing costs
- Cleaning, Building and Warehousing Industrial professional who need blockchain tech that securely and automatically verifies and records a high volume of transactions digitally.
- Freelancers who have come to believe that more industries could be disrupted using this blockchain technology. As long as today, we more frequently face plenty of business use cases for transactions that are verified and organized by a decentralized platform that requires no central supervision, even as it remains resistant to fraud.
To succed this system, whoever join this system will take several stages as mention below:
ChronoBank.io: Stage 1, National Labour Hour as financial backbone of ChronoBank.io
Labour-Hour (LH) Stable Coins is the financial backbone of ChronoBank.io. This system worked based on average hourly wages in the host country. Average labour hour committed by a real labour force from big recruitment and labour-hire companies. Real labour hour compensation is the most tradeable resource in the real economy.
Using real labour calculattion in consideration inflation-proof and have next to zero volatility will make better comparison to bitcoin and other cryptocurrencies. Normally LH tokens will be hyper-liquid and accessible 24/7 via the LH debit card people used. In order to be useable, see LH features as explaine below:
Labour-Hour Features as a blockchain-based form of private and time-based money
Labour Hour acts as alternative financial system based on a blockchain private and time-based money. In addition, this make banks are made redundant, and transactions happen directly between people and businesses. To support this, LH has completed with features as below:
- Multiple blockchains supported, LH tokens and Chronobank.io dapps will be created on Ethereum, Waves and NEM blockchains.
- Protection from inflation, LH tokens will be linked to national average hourly wages, which have significant and stable growth with very low volatility.
- AUD/USD/EUR/GBP transactions, LH have stable prices in fiat currencies. They, therefore, allow users to transact while maintaining AUD/USD/EUR/GBP-measured values.
- Stable tokens, ChronoBank.io will issue Labour-Hour coins with stable value, protecting users from cryptocurrency’s infamous volatility.
- Simple to use, Designed with users in mind and with best UI/UX practices. One click to buy/sell/send transactions with fiat or cryptocurrencies.
- Transparency, A decentralised ledger backbone and multiple security levels guarantee transparency and openness at all stages of Labour-Hour life cycle.
- LH Debit Card, LH tokens will be hyper-liquid and accessible 24/7 via the LH debit card.
ChronoBank.io: Stage 2, a decentralised marketplace enable to sell labour-hours to anyone
In this second stage, act as a substitute for payments in fiat currencies to support LH LaborX Decentralised Marketplace. In this stage people in real-world professions will be able to sell labour-hours to anyone.
LH tokens enable people to be rewarded for their work – without cryptocurrency’s signature volatility risk. All of risk of this payement system has been taken by LH token. In the other words to make sure that actual labour time and the LH token can be exchanged efficiently for each other.
For normal working hour, time banking usually uses a standard exchange rate for time for simple calculation. In the other hand, ChronoBank.io participant enable to access remuneration appropriate to their skill level. This make they got the higher price because they will be able to command for an hour’s work.
LH token enable highly reputation and skilful person will be set based on the individual’s experience within the partner company from stage one of the project. This system used nominal average reputation tol be assigned. This make workers compete to others to incentivise the user to increase their reputation and maintain it at the highest level.