Zug, Switzerland, 9 Feb 2022, Due to its decentralized nature, blockchain has the potential to disrupt traditional business models by eliminating the middleman. However, many blockchain solution providers struggle to build products that are easy to use by the masses. This adoption problem of blockchain is widely shared within the entire industry. In the HR industry, a decentralized platform economy called Work X is presenting an innovative solution to the problem to let people benefit from blockchain technology without noticing it.
Work X offers the same user experience as existing platform economies like Amazon Mechanical Turk, UpWork & Fiverr without the need to possess knowledge about the underlying blockchain technology. Customers can pay with existing (fiat) payment solutions. In the background, the $WRKX token is bought off the market to cover the transaction fees. With more than 40 large corporate enterprises lined up to let their employees use the Work X platform, Work X will bring blockchain technology to a large audience who might not even notice that they’re using it.
Web 3.0
To better explain the problem, we look at an example use-case of blockchain within the finance industry. With Decentralized Finance (‘DeFi’) tools, people can now borrow or lend without the need of a bank. However, with great power comes great responsibility. By removing banks from the equation, people will effectively become their own bank, which also comes with the responsibility of securing your own assets.
Experience shows that this is often a complex and hard process for those without relevant knowledge related to crypto wallets, recovery phrases & Web 3.0 tools such as MetaMask. Although these solutions might ease the process, we have to bear in mind that a large portion of the population struggles to understand new technologies like blockchain. A GlobalWebIndex survey found that nearly one in four internet users worldwide (24%) don’t understand new technologies in general [1]. Although it is impossible to completely eliminate the responsibility of learning how to secure your digital assets, there are ways to make it easier.
The Internet of Jobs
To show an innovative solution of blockchain adoption we zoom in on a project called Work X. This startup is building the ‘Internet of Jobs’, where people can find or offer work without a commercial middleman. Users can create their profile through familiar interfaces, without any knowledge of blockchain. The platform matches job seekers with employers without charging a commercial fee. Additionally, they will introduce an unbiased matching algorithm that will match job seekers with the right employers. Adoption barriers will be overcome, by utilizing an user experience that can be compared to existing platform economies.
Work X will maintain and develop its platform through a Decentralized Autonomous Organization (‘DAO), that will eventually cover the costs of the platform. For every transaction, a small fee of 3-5% is charged which will be distributed to the treasury of the DAO. Users will pay for these transaction fees with payment methods that they’re already familiar with (e.g. Credit Card, Paypal, Apple Pay etc.). In the background, Work X will bundle these transaction fees to buy the Work X cryptocurrency ($WRKX) from the market. This way, thousands of users will be using blockchain technology, without the complex processes that are involved.
A hybrid approach
The platform acts as an intermediary, furthermore it will allow you to directly connect to the blockchain and govern your assets if you choose to. Rik Rapmund, CEO of Work X: “We believe in the power of choice. By making both features available to everyone, we will spurr blockchain adoption amongst our users. ”
Work X has successfully raised $2M and has recently launched their private sale. Apply for the whitelist here and to learn more about the project please visit:
Media Contact –
Rik Rapmund CEO – rik@workpi.com
Daniel de Witte CTO – daniel@workpi.com
References
[1] https://www.digitalinformationworld.com/2019/11/tech-angst-is-growing-just-like-the-trends.html#
