What Is JobCoin?
JobCoin is a digital project that seeks to reduce poverty and inequality in the world. It aims to achieve this particularly by enhancing working conditions for lower and middle class workers, industrious immigrants, and overseas workers, refugees, and poor people from developing countries.
JobCoin operates on the fact that only 1% of wealthy people currently own more than half of the world’s assets. The developers are of the opinion that if the wealthy asset owners, investors, and companies could purchase and own JobCoin, both the asset value and the value of the assets owned by the poor who receive JobCoin as a compensation for their labor or as an incentive, would equally rise.
The platform hopes to develop a mechanism that will return the wealth of the wealthy to the poor by providing investment money to improve financial situations around the world. The focus of the project is to reduce poverty and inequality in the world.
How JobCoin Works
JobCoin is a clever digital solution for all companies and employees worldwide. Its purpose is to create an environment that will enable every employee in the world to feel safe to work. The cryptocurrency will support various work styles and provide a payment alternative.
The JobCoin will operate on the Ethereum blockchain and comply with the ERC20 standard. It will be freely transferable on the Ethereum platform by developing various tools, wallets, and exchanges.
Owing to its ability to illustrate a complete smart contract, the Ethereum platform can allow complicated issue restrictions regarding encrypted currency. It can also provide digital financial contract and automatic incentive structuring. This implies that both JobCoin and the Ethereum blockchain are a great match based on the advanced functions and the active ecosystem.
The APSE System
The Advance Payment of Salary Equivalent (APSE) is designed to be an automated system that allows the payment of advances on salaries and other items of consideration that an employee is entitled to.
It seeks to achieve this by transferring the appropriate amount of JobCoins on demand of the particular employee or automatically according to the time worked. This system will allow workers to receive an advance on their wages, which are not yet due and payable, but which they can earn because of the hours already worked.
Advance Wage Payment System
JobCoin aims to deliver with the purpose of companies to experience an increased number of workers and higher retention rate. On the other hand, employees will work in a safe, accepting environment.
With the implementation of the AWPS, the platform will improve the remittance of salaries of migrant workers, even to those with no bank accounts in their home countries by giving them advance wage payment based on the man hours spent. The JobCoin ecosystem is designed to function by following features, services, and applications.
Advantages of using JobCoin
JobCoin will be exchangeable for legal tender and other recognized digital assets such as Bitcoin or Ethereum.
Besides, it will empower users to link with various good and bonus points, debit and credit cards of all kinds and with other payment settlement systems.
The good thing about JobCoin is that it’s able to provide labor compensation or incentives from attendance records to top up a payment option. JobCoin can overcome the common issue that many competitors face such as acquiring users once cards are issued.
- Source: First Appeared Here
- Published Time: 2019-05-08 09:06:49
The views and opinions expressed in the article Safe Blockchain Payments Protocol and Cryptocurrency Coin? do not reflect that of 48coins, nor of its originally published source. Article does not constitute financial advice. Kindly proceed with caution and always do your own research..
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