At Blockshow Europe 2018 in Berlin, we had a chance to sit down with Sergei Sergienko, the CEO of Chronobank—a provider of blockchain-based solutions for the recruitment industry that just recently released LaborX, a reputation-based platform for freelancers and employers.
CV: Tell me a little bit about your platform.
SS: We released a platform that allows employees and employers to connect better and deliver jobs, and work more efficiently.
An employer would put up a job on the board, and people would either respond to it or not respond. As they respond to it, the AI would choose the best candidates for it. Then, the employer would choose the candidate for it. And then, they go from there. The employer pre-purchases labor-hours, and the labor-hours would be paid to the employee as he works.
CV: Would it be something comparable to oDesk (Upwork) or Freelancer.com, or something like this?
SS: Yes, that’s right. If you would attempt to make a comparison, that would be the closest analogy.
CV: What are the advantages in this system compared to those?
SS: Well, first of all, continuous payment. If you start work, you’ll get paid continuously. In other words, as you work you can check your balance and straight away, you’ll be able to see the wage.
Secondly, it’s operating on what we call labor-hours. We’re on the process of making it a stablecoin, and it’s essentially anti-inflationary. You’ll also be able to see the reputation [of everyone] on the platform.
CV: How is this reputation calculated?
SS: It’s a unique algorithm that is still getting done, but it takes into account education, past experience, and peer review into account.
CV: So, what if, for example, I want to… There are people in oDesk, for example, who send their contact information to each other and they pay through other means...
SS: So, you’re saying, “What if they want to exchange contact information and then go without the platform?”
CV: Yes, yes.
SS: By all means! That’s the risk you take, right? Our job is to make it more user-friendly than the experience they would get communicating with each other. All we can do is make the best solution out there and then people will choose, and they’re obviously going to choose the best.
As far as I’m concerned, it’s not a risk at all. I mean, I’m sure that if oDesk had done some studies, they would find that there’s not too much overflow into the direct method.
CV: So, you’re using ERC20?
SS: At the moment, yes.
CV: Do you have any plans to go into ERC223?
SS: Yes, yes we do. We’re playing with a few blockchains, namely NEM and Waves, just in case ERC20 slows down so much that we won’t be able to operate.
CV: And don’t you have plans on releasing a mainnet?
SS: Yes, that’s right. That’s in the future. Currently, no.
CV: Speaking of labor-hours, how would employees be supervised, making sure that he is working those hours?
SS: This originally was done by people offline. So, for example, in a construction site, the employee is obviously supervised by the employer. That is the original thought process here.
As far as the gig economy is concerned, we’ll use the same methods as Upwork uses. If the job is done, it’s done. If it’s not, it’s not. We can also offer screenshots like oDesk used to do, and all these other things.
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