Lykke Announces Availability of Blockchain Startup ChronoBank TIME Token

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Lykke, a Swiss Fintech company building a global Blockchain-powered marketplace, announces the availability of the TIME token, by ChronoBank. 

“This is a fantastic project,” says Richard Olsen, founder and CEO of Lykke and former CEO of OANDA. “When we conceived of Lykke, I had in mind that, among many different assets available, people would buy and sell the hours they work. ChronoBank is going to make that happen. I’m very pleased to support this project, which takes us more into the decentralized world of the 21st century.”

ChronoBank seeks to be the “Uber of independent workers,” creating a platform like oDesk that matches hourly workers with companies that hire them. TIME is a system token that powers the ChronoBank Ecosystem, supporting the infrastructure and business. When it is released, the LH token will represent actual tradable hours on ChronoBank’s upcoming LaborX exchange. The TIME token sale took place in January/February of 2017 and netted the company about $5.4 million in working capital. The TIME token is currently trading on the Lykke exchange for around $9, slightly above its ICO price. Eighty eight percent of all TIME tokens are now in the hands of the public.

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The TIME token is now available to Lykke users, and Lykke plans to support a market for LH (labor-hours) tokens as well. The Lykke wallet is an open-source app for iOS and Android that lets customers sign up using Lykke’s KYC and support, transfer money in, purchase and trade assets, and transfer money away. The open-source exchange provides fee-free trading and very low spreads.

Learn more at www.chronobank.io and www.lykke.com.

About Richard Kastelein

Founder and publisher of industry publication Blockchain News (EST 2015), a partner at ICO services collective Token.Agency ($750m+ and 90+ ICOs and STOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of some two dozen Blockchain startups and has written over 1500 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat. Irish Tech News put him in the top 10 Token Architects in Europe.

Kastelein has an Ad Honorem - Honorary Ph.D. and is Chair Professor of Blockchain at China's first Blockchain University in Nanchang at the Jiangxi Ahead Institute of Software and Technology. In 2018 he was invited to and attended University of Oxford's Saïd Business School for Business Automation 4.0 programme.  Over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division.

Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London (5x), Manchester, Minsk, Nairobi, Nanchang, Prague, San Mateo, San Francisco, Santa Clara (2x), Shanghai, Singapore (3x), Tel Aviv, Utrecht, Venice, Visakhapatnam, Zwolle and Zurich.

He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com, and his work and ideas have been translated into Dutch, Greek, Polish, German and French. A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world. In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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