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Blockchain Startup Chronobank Aims To Revolutionise Recruitment Sector

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The recruitment industry is still based on the traditional model of using intermediaries to hire workers. In exchange for helping businesses locate the right people to fill vacant positions, agencies charge expensive fees. While this is generally accepted as the standard practice for long term appointments, it is quite costly for freelancing or contract work. Organizations often end up spending time and capital on securing employees instead of focusing on their business goals. Now, there is a startup looking to change that. That startup is Chronobank.

What is Chronobank?

ChronobankChronobank is a blockchain startup that is aiming to change recruitment services, especially in regards to e-commerce, construction, industrial and warehousing sectors. It will do that by partnering with large and reputable companies HR agencies to ensure the supply of labour hours.

The company is currently developing two important platforms that could disrupt the recruitment sector and improve on the current model. They include:

  • National Labour Hour (LH) tokens: Which is essentially a system for tokens on Waves, ETH and NEM tied to labour hours in Australia, Britain, Europe, and the USA.
  • LabourX: Is a decentralised exchange that allows workers to buy and sell their labour hours to anyone.

The LH tokens will be “hyper-liquid” and can be easily accessed on an LH debit card. LH tokens will also allow people to transact while maintaining AUD/GBP/EUR/USD measured values.

The decentralised exchange – LaborX

Chronobank also plans to launch an online job marketplace that anyone in the world will have access to. This marketplace will be called LaborX. The LaborX platform will enable employees and businesses to connect to a peer-to-peer basis. Using this platform, companies will be able to buy labour directly, without having to rely on labour agencies or any other intermediaries. The exchange will be supplemented with a reputation system similar to the one used by UpWork, enabling workers to be compensated in line with their experience and talents, and not dictated by industry payment rates.

How LaborX can benefit Africans

For freelancers and digital entrepreneurs in Africa, Chronobank’s LaborX platform could be of great benefit. Firstly, it will provide Africans with new job opportunities by matching international companies with freelancers and remote workers from around the world. Secondly, the earned Labour Hour tokens could become an attractive store of value compared to the prevailing volatility of local currencies across the continent. By providing tokens backed by labour hours, Chronobank is promoting the use of a more stable currency. And thirdly, due to LaborX’s reputational system, the per hour rate that workers can charge will increase as users complete more work and better their reputational rating, which means Africans will not be bound by generic market rates for freelancers and remote workers from developing countries.

As remote working and freelancing is growing fast in Africa, a platform like LaborX will be a very welcome addition to the job marketplace and a new opportunity for tech-savvy Africans to make a living.

Chronobank ICO

For users who are not well versed in cryptocurrency terminology, an ICO (initial coin offering) refers to a new way of funding for blockchain companies by issuing a new cryptocurrency or digital token to early backers for the project. ICOs are an excellent way for new companies in the digital currency space to raise money for funding their business operations and a way for investors to benefit from the success of a new blockchain startup.

The Chronobank ICO launched in December last year and has already attracted over 1,500 investors raising over 1200 BTC up to date. Significant quantities have also been raised on Ethereum, Litecoin, WAVES, and NEM.

The crowdsale is still ongoing until February 14 and, so far, the initial targets are being revised as interest for the ICO continues to grow. Throughout the crowdsale period,  1 BTC will buy 100 TIME. Chronobank has set a target for 20,000 BTC, hence valuing the total TIME tokens at around $16 million. TIME tokens being sold in the ICO will guarantee its holder an ‘issuance fee’ for LH tokens issued on the blockchain. The issuance fee schedule will be 3% in 2017, 2% in 2018 and 1% in 2019.

An investment in Chronobank and its distributed protocol is an investment in the future of labour hiring free from middlemen and other bottlenecks. The company founders are well connected in the recruitment services industry, which gives them valuable insight on how to take their concept to the next level.

Check out the Chronobank ICO today if you want to be a part of the reshaping of the recruitment sector.

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Brave Rewards: How to Earn BAT Using the Brave Browser

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Brave Rewards

Chances are you are using an ad blocker on your browser because you find ads intrusive. But did you know there is a free browser that comes with built-in ad and tracking blockers? In this guide, you will learn about the Brave browser and how you can earn Brave Rewards.

What is Brave?

earn bat

Brave Software introduced the first version of Brave in 2016, a web browser that blocks ads and website tracking while allowing users to tip content creators with Brave Rewards.

Advertising websites target the data of users, therefore, infringing on their privacy. Brave is mitigating this issue by offering privacy protection. As a user of Brave, you have the power to choose whether you want to view ads or not. You can earn Brave Rewards by opting into ads that respect user privacy.

Content creators that publish on other browsers like Google Chrome depend on advertisements to make money. However, on Brave, you can tip content creators and support them for their contributions directly.

Here is how Brave stands out:

  • You can turn Brave Rewards and ads on or off
  • Brave ads do not retrieve your personal data
  • Brave picks ads that are suitable for you
  • When you view an ad on Brave, you get 70 percent of what the advertiser paid
  • Ads on Brave appear like system notifications and are, therefore, not intrusive
  • Since brave blocks harmful ads and trackers, you will experience faster browsing

At the end of November 2019, Brave hit more than ten million active monthly users after the release of Brave version 1.0. Like Google Chrome, Brave is based on Chromium, Google’s open-source software project.

How to Start Earning BAT

Basic Attention Token (BAT), the digital currency used on Brave, is based on the Ethereum blockchain. To start earning BAT, follow these steps:

  • Visit the Brave website and click “Download.”
  • Choose the download version that suits your operating system. Brave is compatible with Windows, macOS, and Linux. You can also access the Brave apps for Android or iOS on the same page.
  • Open the application and click “Run.”
  • After a second or two, the application will start downloading.
  • Once the download process is complete, the installation process will begin.
  • When your browser has installed, you can now launch it.
  • Go to the main menu and click “Brave Rewards” then the “Rewards Icon.” Next, click on “Rewards Settings” to enable Brave Rewards.
  • On this page, turn on Brave Rewards and ads.

You can now start surfing the internet and viewing ad notifications as they come. Note that you will receive BAT for viewing the ads not for clicking them. Brave sends an alert on or before the fifth of each month allowing you to claim the Brave Rewards you have earned from viewing ads.

Furthermore, you can choose to hold or tip content creators with your Brave Rewards. To view the BAT you have earned, go to the “Rewards Icon” on the main menu and then click the “Rewards Panel” which will appear on the right-hand side of the address bar.

Brave allows users to transfer their BAT to another wallet where they can convert it to other digital currencies or to fiat and have it transferred to their bank accounts. To do this, you have to link your Brave wallet to your Uphold account.

Besides using the Brave browser, you can also earn a small amount of BAT for participating in the Coinbase Earn Program. The program rewards you in BAT for learning about Brave and BAT.

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Scam Alert! Scammers in Kenya are Now Using Facebook’s Libra to Defraud Crypto Users

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Libra Kenya

Scammers in Kenya are now using Libra to make quick gains from unsuspecting victims through a company called Calibra Kenya.

According to its website, the “company” is promising to increase investors’ money three-fold within six months if they invest amounts from KES 20,000 to KES 950,000. The deadline for this “investment deal” (read scam) is November 31, 2019.

Facebook’s Libra is yet to Launch

Bitcoin Scam“Calibra Kenya” is cashing in on Facebook’s Libra, a cryptocurrency that is not yet rolled-out. Calibra Kenya told Gadgets Africa that they are waiting for the Libra launch in January 2020 for investment to begin. However, it is currently unclear when Libra will launch. Facebook had originally announced 2020 as the launch date but the company has said that it will only launch until it has sorted out regulators’ concerns.

Since Facebook announced the cryptocurrency in June, the embattled crypto project has lost a quarter of its members while Mark Zuckerberg is set to testify before the US House Committee on Financial Services today.

The Kenyan “company” has borrowed the name from Libra’s digital wallet, Calibra.

Scammers That Are Also Self-Proclaimed Philanthropists

“Sir John,” a Twitter account holder promoting Calibra Kenya, claims he is a philanthropist. This is similar to a scam story BitcoinAfrica.io recently covered where the alleged swindler was a self-proclaimed philanthropist on LinkedIn. The aforementioned Twitter account also belongs to the Libra Cryptocurrency Association Kenya.

While scamming and philanthropy have nothing in common, it appears that scammers could have found a way to entice their victims in the name of social good.

Moreover, the fact that Sir John claims he is a nature-lover and a passionate entrepreneur and investor in the fintech industry goes to show how far scammers will go to appear legit.

Spotting the Red Flags

It might be obvious to most that Calibra Kenya is a scam but to some, this might not be the case. Therefore, here is a list of what is wrong with this “investment opportunity”:

  • Libra has not yet launched. Anyone asking you to invest in a currency that does not exist is a fraud.
  • Any individual or company that is promising a 50 percent return every month on investments is a scammer. Such high returns are unrealistic. Additionally, in a volatile market, returns cannot remain constant and are bound to fluctuate from month to month.
  • Facebook’s Libra only has one association, the Libra Association, which currently has 21 members. These members are well-known international companies like Uber, Spotify, Vodafone, Mercy Corps, Xapo Holdings, PayU, and Coinbase. Libra Cryptocurrency Association Kenya and Calibra Kenya, therefore, have nothing to do with the real Libra Association.
  • Should you consider a website with grammatical errors suspicious? Yes, you should! Calibra Kenya’s website is guilty in this regard.
  • According to Calibra Kenya, investors will get their money back at the end of the contract. This is a cause for alarm as any legit investment platform should allow investors to withdraw their investment plus returns at any time.
  • On their website, Calibra Kenya throws around crypto and blockchain-related terminologies to confuse and mislead their readers. For instance, they claim that they create smart contracts, that they are the official Libra cryptocurrency exchange in Kenya, and that they are a tier two member of the Libra Association. This does not make any sense and is only meant to confuse readers.
  • The website contains a lot of payment information which is another red flag. It indicates they are only focused on making money.
  • Their website is too “salesy.” Words like “investment opportunity,” “invest now,” and “we make your dreams a reality” are obvious red flags.
  • Calibra Kenya does not provide a platform for investors to track their investments. That means that once you send them money, you have no way of finding out how your investment is performing. The only mode of contact is a phone number that they could easily disconnect.

Unfortunately, reports of crypto-related scams are increasing as major developments take place in the industry. Similar fraudulent websites also appeared during Telegram’s token sale, for example.

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Particl Launches Decentralised Marketplace With Zero Commission Fees

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decentralised marketplace

Privacy-focused cryptocurrency project Particl has launched a decentralised marketplace with zero commission fees. The new e-commerce platform is leveraging blockchain technology to compete with the likes of Amazon and OpenBazaar.

Privacy and Zero Commission Fees

ParticlCryptocurrencies can be difficult to spend on a day-to-day basis and Particl wants to solve this through its private coin, PART. On the Particl marketplace, users can put the digital currency to use.

The new decentralised marketplace respects user privacy and does not require personal information from its users. The platform only requires a shipping address. Moreover, the decentralised nature of the Particl marketplace ensures that no commissions are added to sales as is the case on Amazon.

According to an article on Big Commerce, fees for sellers can be as much as 45 percent of a product’s cost on Amazon. Particl’s zero-free model, therefore, enables sellers to significantly increase their revenue and lower their prices to stay ahead of the competition while still making a profit.

“Using a combination of P2P and blockchain technologies, Particl Open Marketplace can provide a verifiable private shopping experience that ensures no user data can be created or collected by any party other than the one you are transacting with. The Particl protocol also brings the cost of buying and selling online to the bare minimum as no central entity can charge fees,” said Particl’s Project Marketing and Strategy Manager Paul Schmitzer.

How Particl’s Decentralised Marketplace Works

Particl is uniquely approaching fraud and trade insurance through the use of a double deposit escrow system without intermediaries and with zero fees. This system is based on MAD game theory where two parties deposit PART coins as collateral into a smart contract. Once the transaction between them is complete, the coins are released back to the parties and no fees are charged. This system allows users to be in control of their transactions and to eliminate fraud.

 

Since the marketplace is decentralised, the protocol generates all listing fees and redistributes them to the global network of users.

Particl is made up of three components: an untraceable multi-purpose privacy coin, a private decentralised marketplace where users can shop with cryptocurrencies, and a platform where developers can build decentralised applications.

Particl allows a wide range of cryptocurrencies and uses atomic swaps and third-party integrations to convert these coins to PART during transactions. The company will soon add more payment options to its marketplace.

In 2018, Bitcoin Africa talked to Particl’s spokesperson Desi-Rae about the project. Read the full interview here.

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