I already said I was one of the team, but there's no tokens to buy (no shilling). This is about tokenomics creating a new form of economic principle which is allowing  organisations to operate differently. The comments have been interesting because its apparent people are finding the transition from "traditional business" to the "new digital economy" interesting and so are commenting. However, I understand you concerns and will close / leave the post. Its been interesting, thank you for everyone who bothered to make a comment.
 

Actually, its not a cooperative, not a charity, not a NGO, not a DAO.
The parent company of all of the recruitment subsidiaries is a social impact company (https://www.causelabs.com/post/what-are-social-impact-companies-and-why-do-they-matter/). In all aspects its a normal "for profit" company (shareholders, staff, pension plans etc). The only difference is they are sustainable because they are highly ethical and although they make a profit (they must for all the reasons mentioned by other comments) their mission is to do good for society .

So, don't concentrate on the global recruitment agencies (they are the "not-for-profit" interface) and consider the "for-profit" fintech at the centre. It is profitable because it manages all of the portfolios that are gifted to new-hires. For example, placing 100,000 people in work means 100,000 * $5,000 = $500,000,000 Assets under management (AUM) for 24 months.

Although a lot of people on this forum understand crypto, they don't understand business. Thats why they make uninformed statements (which is understandable because this is new and making the statements is appreciated as we all can learn). The beauty of tokenomics is new business models are possible (just like Bitcoin disrupted finance, which not many people believed was possible). The tokenomics paper will show how society can help society profit from recruitment agencies which operate at cost...now that will twist your melon :-)


 

@semobo - the recruitment agency gifts its profits to the worker when it finds them a job. The organisation that employs them doesn't gift them their profits!

As an example,
1) you register your resume (cv) with The Hug Agency and they find you a $100k solidity developer role with ABC Corp.
2) You accept the offer to work for ABC Corp
3) ABC Corp pay The Hug Agency 15% "placement fees" ($15,000) (industry normal is 10%-20% of the salary)
4) Hug Agency covers its running costs (staff, office and legal) using $5,000 and $10,000 is left as profit.
5) Hug Agency gifts you $10,000 over 24 months to build your own custom portfolio as cash, crypto (BTC, ETH, DOGE etc) or stocks (Tesla, Amazon etc) you choose.
6) At month 24 they transfer ownership of the portfolio to you (if you want, you may decide not to) hopefully with asset appreciation.
7) During the 24 months they provide free training on finance (inflation, interest, debt, assets, speculation, investment) - what should be taught in school.

So, Yes its free, yes its free forever (not a marketing angle), yes you have to pay taxes when it's transferred to you, if you leave employment before 24 months you only get up to the current month,  etc (its all on the FAQs)

It can be run like this because of tokenomics and scale. There are new business models that tokenomics make possible which benefit small investors and not just VCs, the 1% or Whales :-)

All will become clear with the tokeomics paper.



 

Its not a charity, its not an NGO, its a social impact (which means it makes a profit whilst doing good).

Several countries were meant to launch together, but one had to be accelerated for a summit (to show progress). Next agency is going to be NYC.

The business model uses tokenomics, digital identity, digital wallets and shortly AI.

In other words it's part of this (blockchain) community and it's putting the case forward to governments that crypto and tokens can do good for society.
Tokenomics paper to be announced soon, after regulation for an IEO or STO.

Private sale about to start.

@joniboini et al - yes.

You're absolutely right about some things.

Recruitment agencies can't give away their profits and survive, the best they can hope to do is just exist... but what if that's all they are designed to do?

Red Pill time....

The Hug Agency gifts 100% net agency fees to new hires (which equates to profits minus operating costs). So the recruitment agency is operating at cost, forever!

Now, no traditional recruitment company can compete when another agency can give away it's profits forever, whilst also attracting the best talent (who want the $000s of free cash, stocks or crypto).

So, at the heart of this is a new kind of social impact Fintech, is not a recruitment agency. Instead it runs recruitment agencies globally purely at cost, in order to take stewardship of the $400B annual recruitment market, in a way which does huge good for society and is actually very profitable (for other reasons).

In just 12 months, The Hug Agency has been ranked in the top 10% applicants by one of the world's largest accelerators, has had VC offers valuing it at the seed stage over $35M, had three Sovereign private family office partnership offers... but they are all rather traditional and equity based... this is the new digital economy.

So, please don't write it off just yet... not until you read the tokenomics white paper :-)

There's a new fintech called The Hug Agency https://hug.agency who give their profits ($000s) to anyone they find work. They are rolling out globally and you get their profits however you want ( cash, stocks or crypto ) in a portfolio you build over 24 months. See the explainer on the site.

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YooPing aims to address DIGITAL IDENTITY in order to make DIGITAL COMMUNICATION better using 3 core concepts: blockchain distributed consensus, public key encryption & smart contracts.

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