ChronoBank ChronoBank

ChronoBank

Created using Figma
Created using Figma
A blockchain project aimed to disrupt the HR/recruitment/finance industry in a similar way to Uber's revolution of the taxi business
Risk: High
Dec 15, 2016
Feb 15, 2017
100% completed
$5 400 000
cap
goal
13% cap completed
Goal 500 BTC
Cap 6 000 BTC
past
  • 1 TIME
    =
    0.007 BTC
Dec 15, 2016
Feb 15, 2016
100% completed
no data
past

About ChronoBank

      Exchanges     What is ChronoBank?

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 freelancing.

At ChronoBank, we are challenging the status quo and bringing an alternative to traditional financial systems.

This alternative is a new generation of time-based currencies utilizing the latest developments in blockchain technology.

Despite soaring interest in distributed ledger technology, there are currently very few blockchain apps poised for mainstream market adoption.

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 business problems.

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 financial institutions.

Labour-Hour Stable Coins

The first stage of our project is to create the financial backbone of ChronoBank.io: national Labour-Hour (LH) tokens. 

LH are linked to average hourly wages in the host country and are backed by a real labour force from big recruitment and labour-hire companies.

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 cryptocurrencies.

This solution is far more sustainable than any of the fiat-pegged or backed coins that currently exist in the crypto market.

LH tokens will be hyper-liquid and accessible 24/7 via the LH debit card.

LaborX Decentralised Marketplace

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 anyone.

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 level.

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 assigned.

Every care is taken to incentivise the user to increase their reputation and maintain it at the highest level.

Video Presentation

 

Features

- 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

Technical Info

Technical details:  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. The source code:  The code for Chronobank will be open source, repository will be provided once the ICO is complete. Proof of developer:  Public team

Materials

ChronoBank

Activity

Status:
Sr. Member
HIGH
Activity:
616
VERY HIGH
Merit:
251
HIGH
Posts:
8 091
VERY HIGH
Views:
414 612
VERY HIGH
Status:
Sr. Member
HIGH
Activity:
616
VERY HIGH
Merit:
251
HIGH
Posts:
11
VERY LOW
Views:
97
VERY LOW
Users:
9
VERY LOW
Posts:
645
VERY HIGH
Followers:
26 415
VERY HIGH
Likes:
25 843
VERY HIGH
Followers:
19 792
VERY HIGH
Tweets:
944
VERY HIGH
Members:
49 059
VERY HIGH
Alexa
Rank:
608 480
VERY LOW
Delta:
282 418
Videos:
31
HIGH
Subscribers:
2 083
LOW
Views:
42 976
VERY HIGH
Likes:
330
VERY LOW
Dislikes:
39
VERY LOW

Team

Verified 0%

Attention. There is a risk that unverified members are not actually members of the team

Chief Crypto Officers
unverified
Paul Glover
Ideologist
unverified

Last News

  • Because there may be time differences in information updates, accurate information about each ICO project should be verified through its official website or other communication channels.
  • This information is not a suggestion or advice on investing in ICO funding. Please thoroughly investigate the relevant information yourself and decide on ICO participation.
  • If you think there are issues or problems to be corrected on this content, or if you would like to submit your own ICO project to be listed, Please email us.
Please read the disclaimer and risk warning. Show disclaimer and risk warning.