May 24, 2018
ChronoBank is reimagining hiring for the blockchain age. Founded and based in Australia following its successful token sale of 5,400 BTC in February 2017, the company has developed the most sophisticated blockchain-based hiring ecosystem in the world. ChronoBank is led by a seasoned executive team with deep domain experience in HR, banking, and fintech. It boasts one of the strongest technical and design teams in the blockchain world and is well-funded to innovate in all sectors of HR, from hiring to workers compensation to lending to insurance.
The HR Startup is now launching LaborX.
LaborX is the leading blockchain-based recruitment marketplace. It is a complete platform that connects companies and job seekers and lets them transact quickly, safely, and easily in crypto.
Using LaborX, job seekers can maximize their hourly rate, avoid payment delays and disputes, and work from anywhere in the world. Companies benefit because of LaborX’s proprietary reputation system, which grades and immutable records freelancer performance on the blockchain, saving them from a costly screening process.
Companies also get access to new types of workers: digital nomads, crypto evangelists, and the unbanked. LaborX offers dramatically lower platform fees (1% vs. 5-20% from traditional platforms), resulting in a savings of $450 per month per freelancer. LaborX is projected to reach 1,000 companies and 100,000 users by year’s end.
I wanted to find out more about how LaborX is integrated into ChronoBank’s multi-currency wallet (ChronoMint) and crypto exchange (TimeX) so I invited Sergei Sergienko onto the show today.