ChronoBank launch website ahead of December Initial Coin Offering (ICO) and crowdfunding campaign

899

Share with:


Blockchain startup ChronoBank. has launched its new website, aiming to raise awareness for its coming multi-Blockchain ICO.

ChronoBank.io, a project that aims to revolutionise the short-term recruitment sector in the same way that Uber changed the taxi industry, has launched its new website as the first stage of its crowdfunding campaign.

Time-based currencies have been around for almost 200 years and many hundreds of timebanks operate around the world. However, the ChronoBank team – who have extensive experience in both the recruitment industry and in the cryptocurrency sector – believe the idea can be updated to change the way professionals look for work and companies provide it.

Traditional timebanking vs ChronoBank

Timebanking has typically proven successful within limited settings – most notably Ithaca, New York, which has a thriving time-based economy built on the Ithaca Hour time currency. However, for various reasons it is not suited to broader application within the 21st century global workplace.

“We know we can change that with Blockchain technology,’ comments Alexander Rugaev, ChronoBank CEO. ‘We want to make a short term recruitment as profitable and prestigious as long term recruitment. One of our founders is Edway Group Ltd, one of the largest labour-hire companies in Australia, so we know exactly what the market needs and how to achieve it.”

Key to the idea are time-based cryptocurrencies, a fundamentally different form of money. Time-based money has a different tax status to regular fiat money, and can be exchanged for goods and services, or sold for other currencies.

“Labour Hour tokens are also a great store of value and hedge against inflation, since hourly wages tend to rise in line with or above inflation. That makes it attractive to earn and attractive to hold,” the CEO added.

Building awareness

The first stage of the project is to build and grow a presence within the cryptocurrency community, disseminating information and answering questions that may arise, before launching the crowdfund in December.

“Over the coming month we’ll be building awareness, not just around ChronoBank and our crowdfund but about the idea and advantages of time-based currencies more broadly. We want people to understand that we’re serious, we’re experienced in Blockchain and the recruitment sectors, and we have the talent and backing to make this happen in a big way,’ continues Rugaev. ‘We’re going to hold the crowdfund and issue Labour Hours on multiple Blockchain platforms, including Ethereum, Classic, Waves, Lisk and bitcoin, depending on demand.”

ChronoBank’s crowdfund is scheduled to start in December. To find out more, visit www.ChronoBank.io

About Richard Kastelein

Founder, Publisher and Editor in Chief of Blockchain News and co-founder and director at Blockchain Partners in London/Amsterdam/NYC, Richard Kastelein is also an advisor with a number Blockchain startups doing ICOs including DECENT.ch, Inchain, Humaniq, Chronobank, eGaas and others.

He is regarded as one of the top journalists by the Blockchain and fintech communities – as is evident by his entry in the Top 150 Fintech journalists online and in the top 10 of the Blockchain Top 100 List. As a prominent keynote presenter, he has spoken on Blockchain at events in Gdansk, Amsterdam, Minsk, Dubai, Antwerp, Eindhoven etc, where he helped spread the cause for Blockchain technology and crypto-currency and, consequently, has built a notable network inthe scene.

In 2013, the European Commission appointed him as an expert for overseeing financing for emerging startups as a part of the European Commission’s 90 billion euro Horizon 2020 project, created in Brussels to promote innovation as a driving force of job creation and business ventures across Europe. He has also worked as an external expert for Innovate UK since 2012, judging startups for the UK government.

Visit Website
View All Articles
Chronoform

Get Blockchain News Where You Are!

Join our Linked in GroupLike our Facebook Page
Linkedin Group BlockchainLinkedin Facebook Group