ChronoBank is a multi-blockchain project aimed squarely at disrupting the recruitment sector, in the same way that Uber revolutionised the taxi industry and Upwork represented a step change in freelancing. The ChronoBank project has three main stages: 1. TIME token crowdsale The first stage is TIME token crowdsale. Funds collected from the crowdsale of TIME tokens will be used for marketing and development of ChronoBank. TIME token holders will get rewards from various fees as the platform gains adoption and popularity. 2. Labor-Hour stable coins The next stage of our project is to create the financial backbone of ChronoBank: national Labor-Hour (LH) tokens. LH are issued by major recruitment and labour-hire companies and linked to average hourly wages in the host country. 3. LaborX decentralised marketplace The last stage is to create LaborX, a decentralised marketplace where people in real-world professions will be able to sell labor hours to anyone – just as easily as Uber drivers or Upwork freelancers do. LH tokens will act as a substitute for payments in fiat currencies and will enable people to be rewarded for their work without cryptocurrency’s signature volatility risk. A multi-blockchain solution To achieve long-term functionality and success, ChronoBank will issue LH tokens on both existing and new blockchains, depending on market demand from users and the development of new blockchain platforms. Ethereum/Classic blockchains ChronoBank will create decentralized applications (dapps) for token users and issuers, with a userfriendly interface and secure transactions using escrow smart contracts.
What is ChronoBank
- A system that guarantees that people will always get paid for their work according to their effort, as well as a system that provides a stable token on Ethereum and other participating blockchains - Revolution in the short-term recruitment of the real world professions - Based on the tried-and-tested model of timebanking, in which workers trade hours of labour for goods and services
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