Grain processes work agreements on the blockchain and has an instant payment mechanism. It helps companies save billions of euros/dollars annually in middleman services and payment processing costs. Grain is a backend solution that allows labor management systems and freelancer platforms to integrate smart contract and financial transactions on the blockchain.
Grain is not a marketplace to connect employers with workers, unlike competing projects. Grain is a back-end solution that transaction partners use to process work agreements.
Transaction partner examples: freelance platforms (like Upwork or freelancer.com), staffing or temporary work agencies, job portals, etc.
Both employers and workers are protected against possible volatility of the value of Grain. Cryptocurrencies are by default volatile, but it would be unfair if a worker’s compensation gets affected by that.
The solution: A liquidity insurance that's built into Grain. Grain lets participants of the ecosystem share in the success of the platform. When the liquidity insurance collects a profit as the value of Grain increases, this profit will be distributed amongst everyone (workers and employers).
Grain has a mechanism that allows workers to automatically build up a “piggy bank” as part of each transaction. This mechanism can be used for pension funds, 401Ks, etc. that a lot of companies already provide for their employees. If this piggy bank contains Grain, it’s an automatic investment that pays off handsomely when the value of Grain increases.
The GRAIN ecosystem The GRAIN ecosystem consists of five elements:
• A labor contract: The most essential element of the blockchain to register the agreement of when, where and how work will be performed.
• A payment mechanism: Facilitating the transfer of compensation from employer to worker
• Liquidity insurance: Protecting participants from typical fluctuations in the value of cryptocurrencies
• Harvest: Allowing workers to benefit from the success of GRAIN
• Governance: Making sure GRAIN can answer all regulatory and compliance requirements
GRAIN has the potential to truly change the way the world works by eliminating the inefficiencies involved with work agreements. By using blockchain technology, GRAIN ensures that:
• Companies need only pay the necessary costs related to work agreements (thereby eliminating the need for payroll and other services)
• Paying for work across currencies becomes cheaper and more equal for those who deliver work
• Everyone gets paid on time, and no one runs the risk of going bankrupt from delayed payments
• Companies can now make use of the most efficient and cost-effective protocol for handling work agreements with their dynamic workforce
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GRAIN is an infrastructure solution that allows companies to process work agreements on block chain with instant payment mechanism.
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