Bitcoin has been a game changer in the banking and financial sector. The digital currency and its underlying technology have already proven that it can increase the efficiency of the financial industry while cutting down costs. Now, the very technology is made available to the freelancers and contract workers by ChronoBank. With more people looking for challenging, out-of-the-box jobs with flexible work hours, the short term job market has turned highly competitive for the potential employees. Similarly, the companies are facing a challenge when it comes to hiring the right people.
ChronoBank, the Australian cryptocurrency startup co-founded by Edway Group Limited is using the blockchain technology to disrupt the short term hiring market in favor of both employees and employers. The startup equates its mission to that of Uber and Upwork; ChronoBank is ready to cause the same kind of disruption as these two companies did to taxi business and freelancing respectively. The benefits of this blockchain platform can be soon availed by businesses and candidates in e-commerce, cleaning, warehousing, industrial, building and freelancing sectors.
The Labor Hour crypto tokens — currency on ChronoBank supported on multiple blockchains shares a lot of similarities with the mainstream cryptocurrencies, making it much easier to conduct transactions between employees and employers. ChronoBank has a sincere development roadmap laid out for the next one and a half year, starting June 2016.
Beginning with idea creation and concept development, ChronoBank has recently launched a brand new website with all the details about the platform. The website launch will soon be followed by Labor Hour ICO, where investors can buy a stake in the platform by investing in the LH token presale. Upon successful completion of the ICO, ChronoBank network will be launched along with fiat linked, stable LH tokens. LH tokens will initially be linked to Australian Dollar, US Dollar, Euros and Pound Sterling, with support for more currencies in the near future.
All LH tokens can be exchanged for respective fiat currencies or other digital currencies on LaborXexchange. The whole project will be operational by the first quarter of 2018.
More information is available on the ChronoBank website.