2016/11/06 1:00 PM
ChronoBank.io, a blockchain project aimed at innovating in the short-term recruitment sector, has launched a new website to promote the December ICO for its “time-based” cryptocurrency.
Disclaimer: This article is sponsored by Bitcoin PR Buzz.
According to the company, its “Labor Hour tokens” will allow employers to enter into profitable short-term recruitment contracts with new employees.
In a press release, the team noted that their idea is simply a refresh of a form of money that has been used for centuries, with hundreds of “time-banks” issuing already existing time-based currencies.
Developers pointed out Ithaca, New York’s time-based economy that runs on the Ithaca Hour currency as an example of a successful time-banking use case.
However, the team said in a press release, current methods are “not suited to a broader application within the 21st-century global workplace.”