Chronobank, a time based crypto currency wants to be a platform for recruitment. A new website is planned to point out the upcoming ICO.
A startup from Australia plans to develop a blockchain-based solution for recruiting. The distributed ledger platform Chronobank is based on a time-based crypto currency. With this crypto currency the startup wants to revolutionize human resources, recruiting and the financial sector. They want to be what Recruiting is for Transport and Upwork is for Freelancing.
Ultimately, Chronobank uses the news spy review
Time-based currencies are a value equivalent for work – in other words, you pay less concrete values in the news spy review a regular currency, but rather calculate the working hours or personnel months. These are then used as exchange values like this https://www.geldplus.net/en/the-news-spy-review/. Similar concepts are used on freelancing networks where working hours are exchanged for working hours.
The crypto currency behind ChronoBank wants to use this concept to be able to offer a tailor-made solution for recruiting for short-time work scenarios for both freelancers and companies looking for employees. The main objective behind ChronoBank is to create a guarantee of fair pay. The economy behind this project is represented by crypto tokens called „Labor Hour“ or short LH tokens. The value of these tokens is secured by the labour of the companies, which is why Chronobank believe that these tokens would be secured against inflation and would not show any volatility.
Chronobank’s first goal: Bitcoin secret scam
Chronobank has currently invested a lot of money in advertising campaigns with the aim of bringing blockchain-based recruitment solutions into the Bitcoin secret scam review. With the help of these campaigns, the company wants to educate about the meaning of time-based crypto currencies, present their advantages over traditional working time accounts and show how this solution makes sense for both employees and employers in the context of Bitcoin secret scam short-term contracts and freelancing.
„Next month we will be investing primarily in Awareness. We don’t just want to draw attention to Chronobank and a planned crowdfunding, we want to educate about time-based currencies in general,“ says CEO Alexander Rugaev.
Chronobank is supported by various experts and developers from the crypto scene, including Bitpanda, Waves, Emercoin and NEM. With the Edway Group as one of the founders, ChronoBank benefits from the expertise the Edway Group has built up over the years in recruiting.
After the current campaign, a crowdfunding ICO is to be launched. An ICO will be announced sometime in December 2016. In preparation for this ICO, ChronoBank has already redesigned the website so that potential investors can sign up for the crowdfunding campaign. Investors will be able to participate in the ICO not only through Bitcoin, but also through various other blockchain platforms such as Ethereum, Ethereum Classic, Waves or Lisk.
Once again one notices that there is little in terms of administration and transaction where the blockchain could not be useful. Apparently, the goal of ChronoBank is not simply to recruit, but to bring the „salary“ on a common denominator, so that one compensates different salary expectations of freelancers in Munich and in Hoyerswerda (to give examples from Germany) something with it. Of course, LH tokens can be used within the company or by freelancers as a kind of substitute currency for services – Donald Reinertsen suggests something similar with beer coasters oä in the grandiose book The Principles of Product Development Flow – Use of a blockchain could globalize a corresponding solution. But what is not yet clear to me is: How does the cash out come about?