ChronoBank.io is an ambitious and wide-ranging
blockchain project, aimed at disrupting the HR/recruitment/finance
industries in a similar way to how Uber disrupted the taxi business
and how UpWork represented an evolution in
At ChronoBank, we are challenging the status quo and
bringing an alternative to traditional financial
This alternative is a new generation of time-based
currencies utilizing the latest developments in blockchain
Despite soaring interest in distributed ledger technology,
there are currently very few blockchain apps poised for mainstream
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
Specifically, we want to create a revolution in short-term
recruitment within key professions.
Our goal is to make a difference to the way people find
work and are rewarded for their labour – doing so within a
decentralised framework and without the involvement of traditional
The first stage of our project is to create the
financial backbone of ChronoBank.io: national Labour-Hour (LH)
LH are linked to average hourly wages in the host
country and are backed by a real
labour force from big recruitment and
Labour is abundant enough for everyone to have access to
it, yet scarce enough to be valuable. It is the most
tradeable resource in the real economy.
LH tokens will tokenize this resource. Because they are
backed by real labour, they are absolutely inflation-proof and have
next to zero volatility – in comparison to bitcoin and other
This solution is far more sustainable than any of the
fiat-pegged or backed coins that currently exist in the crypto
LH tokens will be hyper-liquid and accessible 24/7 via the
LH debit card.
The second stage is to create LaborX, a
decentralised marketplace where people in the real-world
professions will be able to sell labour hours to
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.
We have taken great care to design the system for ease of
use, to make sure that actual labour time and the LH token can be
exchanged efficiently for each other. Whilst TimeBanking in its
simplest form uses a standard exchange rate for time, each
ChronoBank participant will have reputation assigned to them, to
enable them to access remuneration appropriate to their skill
The better the individual’s reputation based on previous
work, the higher the price they will be able to command for an
hour’s work. Initial reputation will be set based on the
individual’s experience within the partner company from stage one
of the project.
For those who have not participated in the system in any
previous capacity, a nominal average reputation will be
Every care is taken to incentivise the user to increase
their reputation and maintain it at the highest level.
Attention. There is a risk that unverified members are not actually members of the team
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