The consolidation of once volatile cryptocurrencies, since the conception of Bitcoin in 2009, has led an increasing number of businesses to offer them to workers as a way of receiving all or part of their salary. Jobchain founder José Bay believes that this normalisation of cryptocurrency presents a solution to global payment problems and that his platform can provide financial security services and solve the global poverty issue once and for all.
A Brief Rundown: Cryptocurrency and Blockchain
Blockchain, put simply, allows for a public record (the block) of all transactions made in a cryptocurrency to be maintained in a decentralised database (the chain). This permits unsecured parties to access an indelible digital record of peer-to-peer transactions of cryptocurrency. This is an entirely electronic form of funds that can be securely transferred from one user to another without the need for a centralised authority (i.e. a bank).
Moreover, cryptocurrency presents a far superior method of payment because it utilises a unique method of data storage to provide a highly efficient process with speed, security and transparency. But why should this be of any notable interest? By connecting with Jobchain to make and receive payments through cryptocurrency – specifically Jobchain’s native currency of ‘JOBs’ – employers and job-seekers reap huge benefits from the use of blockchain:
- Damage is mitigated in the case of a hack since information storage is decentralised
- Supply chain becomes transparent – eliminating the issues of theft, counterfeit and lost goods present in the traditional supply chain
- Increased speed and efficiency allows employees to access their salary immediately – blockchain operates 24/7
- Decentralisation reduces transaction costs as there is no third party to pay (i.e. a bank)
History of Jobchain
The concept behind the corporation was initially developed by its founder Jose Bay in 2019. The travels he undertook for his previous work as an International Atomic Energy Agency Officer inspired him to explore a solution that could easily satisfy the needs of millions of people in poverty. Jose settled on a platform that could connect job-seekers and employers and to make or receive payment in the form of cryptocurrency.
Jobchain is the first company in the world to develop a platform allowing anybody to find JOBs and get paid in cryptocurrency; enabling a solution for over 1.7 billion people in the world without access to bank accounts and social security. It appears to be the next step towards a financial revolution where cryptocurrency is the predominant form of payment, as indicated by the success of his project. Moreover, Jobchain has won an international contest for best blockchain corporation in the world, and has additionally won multiple contests for listing its native cryptocurrency JOB in multiple well-known global crypto exchanges. In 2020, JOBs experienced the greatest increase in value among all cryptocurrencies globally.
Why Use Jobchain?
Jobchain streamlines the processes of finding work for job-seekers and finding employees for employers. For those searching for work, merely input your details, education and experience into Jobchain’s ‘Wallet’ function; this information will be stored here for employers to peruse at their own leisure. Employers can decide between the profiles uploaded on the platform, sorted by location, availability and compensation level to find their ideal candidate. This significantly increases the efficiency and speed of both parties in finding work.
Being paid in cryptocurrency (and using it to purchase) as opposed to conventional forms of payment may seem daunting and confusing, but is incredibly intuitive and convenient in reality. Jobchain allows clients to set up a ‘Jobchain Wallet’ which acts as a bank account where one can receive, send and store cryptocurrency. After user’s details have been filled in and verified, a user is ready to receive a salary in the form of tokens.
Alternatively, if a merchant does not accept cryptocurrency as a form of payment (such as bill payments) it is possible for JOB tokens to be paid into a prepaid Visa card. From here, the credits can be used anywhere where Visa is accepted – allowing payments with JOB tokens around the world.
This award-winning platform presents a unique solution to the global problem of poverty caused by difficulty in finding work, and represents a step towards the adoption of cryptocurrency in everyday life.