chronobank.io

Chronobank

chronobank.io
Aug 10th, 2017 | 2 min read

What is ChronoBank.io?

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.io, we are challenging the status quo and bringing an alternative to traditional financial systems.
This alternative is a new generation of time-based currencies utilising 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 tokens 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 tokenise 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.

Labour–Hour Features

  • As a blockchain-based form of private, time-based money, banks are made redundant, and transactions happen directly between people and businesses.

  • LH tokens will be linked to national average hourly wages, which have significant and stable growth with very low volatility.

  • Designed with users in mind and with best UI/UX practices. One click to buy/sell/send transactions with fiat or cryptocurrencies.

  • A decentralised ledger backbone and multiple security levels guarantee transparency and openness at all stages of Labour-Hour life cycle.