Diagram showing an umbrella company using Etch and paid out in ////Pier stable tokens + fiat:
Contractor signs an employment contract with the umbrella company.
Umbrella company signs a contract with the client for services performed by the contractor who is now an employee of the umbrella company.
This signed contract of work is published on the Etch platform - data anonymised to the public but fully available for auditing.
New ////Pier tokens issued collateralised by the contract of work.
Timesheet submitted manually / automatically or with time and attendance hardware.
Invoice raised with the client (usually every 7days) delay in payment of this invoice does not affect the flow of wages to the contractor. All invoice payments are held on account for future redemption of ////Pier tokens.
Percentage of new ////Pier tokens created will be sold initially on a private exchange (full AML / KYC) to be deposited in card issuer account.
Wages streamed in real time to the contractors' wallet based on the employment agreement. Option for the contractor to use the payment card supplied to make fiat payments and withdrawals, or keep wages in ////Pier stable token.
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