People across the world work hourly in the rapidly evolving economy and technology but unfortunately not all of them were paid on-demand to meet their needs on the time and workchain is going to revolutionizing the old method of payroll system with automated payroll system on Blockchain.
What is workchain.io?
Workchain.io aims to make works earn in cryptocurrency possible with instant paycheck from the moment they clock out and this gives financial control that everyone deserves. Workchain provides following framework to solve the existing old payroll system.
WorkID – Unique ID for each worker with immutable CV with verified details of the worker.
WorkPay – Enable real time payment for works on workchain.io
WorkPay Advance – Enable less risky access to peer to peer loans with verified credit history for works.
Platform Protocol:
In order to achieve the fully automate payroll on the workchain.io ecosystem, the Blockchain backed workchain.io stores the all statement about or work will be stored as record into the Blockchain with Proof of work consensus with trusted score protocol where the records is created by individuals or organization and following are type of records
Trust Records: - It is created through who creating the record and who it is being created about and also verified by third party.
Proof of work Records: - Application integrated where created of the record is trusted third party and cannot be altered by individual users.
Record levels: - Three level of Record statement made to the platform by individual work, education and payment entities.
Credit System:
Workchain.io creates credit score for works based on data and work record by basically providing financial snapshot based on the earnings and following metrics are considered.
Work history (employer identity, position(s) held, employee performance, etc.)
Time and attendance history
Account and transaction history
Investment history
Peer-to-peer recommendations
Sales and operating data
Jobs completed/scheduled
Workchain.io also consider machine learning and multiple linear regression algorithm.
Partnerships:
Workchian.io will enable partnership with some well-established cryptocurrency cards like TenX,Monaco and Centra and TokenCard and this makes the earning spend easily on shops.
WATT Token:
WATT is utility token for workchain.io ecosystem with ERC 20 Standard Token on ethereum Blockchain with Membership Token to the Future of Payroll on this platform
Token Information:
Supply: 1,000,000,000
Symbol: WATT
Decimals: 18
Type: ERC20
Address: 0x829a4ca1303383f1082b6b1fb937116e4b3b5605
Users,Employee,Validators will have to stack their token to access different information on the platform and prioritize will also be based on amount token being stacked.
Roadmap:
Workchain.io will be decentralized allow platform housing DApp in future with two-phased approach (Hybrid and Decentralized Model).
Q3 2017 - WorkChain.io Project Starts
Q4 2017 - Application Development Begins
Q1 2018 - WorkChain.io Closed Alpha Version Release, Public Release of WorkChain.io Vision
Q2 2018 - White Paper Released,WorkChain.io Public Beta on Blockchain,
Product Launch #1: World’s First Immutable CV Created with workID
Q3 2018 - First integration with Proof of Work applications,First workPAY Test Transactions
Q4 2018 - Additional Integration with Proof of Work Applications,SDK for Proof of Stake Records,Product Launch #2: First Salaries Paid Through workPAY
Q1 2019 - Onboarding Employers,workPAY ADVANCE Beta Release
Q2 2019 - Product Launch workPAY ADVANCE Lending Application Launch
Q3 2019 - Switch to Fully Decentralized Model
Team:
Workchain.io have lot of well experienced CEO , CTO and Advisors which makes me think this is going to very big and revolutionary in project in the future.
Ryan Fyfe – Chief Executive Officer
Ivan Petrovic – Chief Operating Officer
Vladimir Cvejanovic – Chief Technical Officer
Sebastian Kipman - Communications Director
Blake Miner - Marketing Director
Nolan Fyfe - Strategy & Investor Relations
Eugene Gamzin - Technical Director
Ruslan Heller - Project Director
Artem Siminenko - Backend Lead
Dmytro Zuienko - Frontend Lead
Mihajlo Paunovic Triandafilov – UX/UI Designer
Teodora Orestijevic - Community Manager
Additional Information & Resources:
Workchain Website
Workchain Whitepaper
Workchain Twitte
Workchain Telegram
Workchain Token Medium
Workchain Token Facebook
Workchain Token LinkedIn
Disclaimer: All info used were taken from WorkChain.io website and whitepaper.