ChronoBank’s plan is to revolutionize the recruitment industry by using the power of blockchain, to find out in detail what ChronoBank is, read the following article of Taimienphi.vn.
In the following article, Taimienphi.vn will introduce you to ChronoBank. How about the features?
1. What is ChronoBank?
Blockchain technology has changed the world of online payment in a variety of other industries. Currently, ChronoBank is building a plan to use blockchain technology to disrupt other industries such as recruitment, recruitment and finance.
ChronoBank wants to change the way users find jobs and reward the hard work they have spent. The platform wants to do this without the involvement of traditional financial institutions. Through this process, ChronoBank’s plan is to revolutionize short-term recruitment in key industries.
Some of the main target industries that ChronoBank targets include e-commerce, cleaning, warehousing, industry and construction. Their plan is to attract freelancers who have sold their part-time jobs (in exchange for working hours) in exchange for money.
ChronoBank’s ecosystem depends on the Labor-Hour (LH) token. LH is associated with average wages in some countries.
These tokens are backed by real workforce from large hiring and hiring companies. Among the many national tokens, 2 tokens, US Labor-Hour (LHUS) and Australian Labor-Hour (LHAU) tokens, were launched in 2017.
Meanwhile ChronoBank launched the token token TIME at the beginning of last year through the ICO. TIME is being actively traded on several cryptocurrency exchanges.
“The labor is abundant enough for everyone to access it, but it is still scarce enough to create value. This is the most tradable resource in the real economy,” the company said.
Phase 1 of the ChronoBank project is to introduce the Labor-Hour token. These tokens will have stable value and liquidity, making it easy to convert to fiat currencies worldwide. ChronoBank will also introduce the LH debit card to provide users with access to their funds 24/7.
Phase 2 involved the introduction of the LaborX decentralized market.
2. Features of Labor-Hour token
The first phase of the ChronoBank project was to introduce the Labor-Hour token. Here are some key features of Labor-Hour token:
– Optional financial system:
ChronoBank is a blockchain platform, without the interference of third parties like banks. Transactions occur directly between individuals and businesses.
– Support multiple blockchains:
The LH and ChronoBank.io tokens are created on the Ethereum, Waves and NEM blockchain platforms, unlike other tokens that use only one blockchain.
– Protection from inflation:
The LH token will be linked to the average hourly wage of a country. These salaries have significant growth, stability and low volatility.
– Price stable with Fiat money:
Users can make transactions while still being able to use fiat currencies. Transactions will be supported in AUD, USD, EUR and GBP currencies. LH was built with the goal of providing stable prices with fiat currencies.
– Token stability:
Labor-Hour coins have a stable value, protecting users from unpredictable fluctuations in the world of cryptocurrencies.
– Easy to use:
ChronoBank’s platform is designed with the user in mind and with UI / UX best practices. With just one click, you can buy, sell and send transactions using fiat money or cryptocurrencies.
ChronoBank uses a decentralized ledger with multiple levels of security to ensure transparency and openness at all stages of the Labor-Hour life cycle.
– LH debit card:
ChronoBank is planning to issue a debit card that will allow users to use their LH card as regular cash. LH tokens will be super-liquid and accessible 24/7 via the LH debit card.
3. LaborX decentralized market
Phase 2 of the ChronoBank project will introduce the LabX decentralized market. This market allows people of different professions to actually sell their working hours to anyone.
In this market, the LH token will act as an alternative to fiat payments. That means people can be rewarded for their work without the risk of fluctuations in cryptocurrencies and cryptocurrencies.
In the marketplace, each user will have a reputation assigned to them, allowing them to access compensation that is appropriate to their skill level in a specific industry. As an individual’s reputation increases, they will be able to adjust the higher price for their work.
So, what about an individual’s initial reputation? Here’s how ChronoBank.io explains the original reputation:
“The initial reputation will be established based on the experience of each individual in the partner company from the first phase of the project.”
For those who have not joined the system in any previous compatibility, “average reputation will be specified”.
Users will be encouraged to increase their reputation and maintain it at the highest level. The better their reputation, the more they will be paid.
4. TIME coins
TIME coin was introduced in the early stages of the project and was considered the main currency in the platform.
Unlike other cryptocurrencies, TIME’s main function is to promote various blockchains. The TIME token was drafted to be highly secure, requiring no expert intervention.
TIME and ChronoBank dApps are created based on the Ethereum blockchain, Waves and NEM. Because TIME is linked to the country’s average hourly wage, the risk of inflation is low.
The above article Taimienphi.vn has just introduced you about what ChronoBank is, as well as the features of the LH token. In addition, if you have any questions or questions, you can leave your comments in the comment section below the article.