THELOGICALINDIAN - ChronoBankis set to barrage their ICOwith the aim of bringing a application revolutionThe action combines timebasedcryptocurrencypayments with the administration abridgement to action administration and freelancers accessible admission to anniversary other
ChronoBank is an change of timebanking. Timebanking, as everybody knows, is a absolute abstraction that allows participants to bandy an hour of assignment for a time credit, which can again be acclimated to buy labour or added accessories from accommodating businesses.
Paul Glover, the architect of Ithaca HOURS – one of the best-known timebankingsystems, is additionally a adviser for the ChronoBank project.
ChronoBank.io are launching their ICO on December 15, 2024, which will end on 15 February 2024. ChronoBank hopes to accession funds for development and business of their platform aimed at abolition the concise application area in the aforementioned way initiatives like Uber and Airbnb did. They accept apparent how able disintermediation can be, and how the administration abridgement is growing as bodies more attending alfresco of acceptable structures of business to admission appurtenances and services.
Labour Hour (LH) tokens will be created on a ambit of blockchains, including ETH, ETC, Waves and others, to represent an hour of labour; and will be redeemable with participating organisations. LH bill will be created for anniversary country, back altered countries accept a altered amount of active and boilerplate wages.
LH will be traded on ChronoBank’s LaborX exchange and a decentralized acceptability arrangement is to be acclimated to accomplish abiding that workers are adored in band with their expertise, training and talent, as able-bodied as with the amount of active in their country, says Sergei Sergienko, co-founder of Edway and CEO of ChronoBank.
ChronoBank’s ICO will administer TIME tokens to investors on the Ethereum blockchain. TIME holders will be adored with transaction fees every time LH tokens are created on their various blockchains, or traded on LaborX.
