Thanks for the kind message and support!

Utility.

Not sure I fully understand your question, but will try to respond:

re: Competitors - We will have competitors in both the traditional sense as well as within the blockchain space. We've put together a competitive analysis overview in our white paper here:

https://workchain.io/whitepaper/Competitive%20Advantage

re: MVP - We've already launched our first product workID which anyone is free to sign-up for now from our website: workchain.io/registration

We are close to launching our mobile apps and are making significant progress on our second application, workPAY - Announcements coming soon.

https://www.youtube.com/channel/UCA8M_FrBflu3ahdF0sBFPcA

More to come soon!

Thanks for the question!

Initially our focus is on workPAY which is a real time payment protocol which will enable employers and employees to use the system to offer a cheaper, faster and more fair way to do payroll.

Recognizing that some employees will want to adopt the system before their employer, workPAY Advance is our way of 'advancing' them the funds, akin, to payday lending, prior to them being paid by the employer. The money that was advanced is then repaid at the next routine pay date.

In the future it's possible to imagine this going being simple advances for the day worked, but also advances on the next paycheck, or micro-lending... That won't be our initial focus though, there are many other fantastic lending projects out there as well, so we'll also be aiming to partner with the one's that align with our mission.

WATT is an ERC20 Token, so if you'd like to 'run a node', then you are always welcome to run an Ethereum node

Our Bounty is active now, please see: https://workchain.io/bounty

Hi There,

Thanks for the interest in WorkChain.io! When we say 'paychecks' we're just referring to anyone that works and receives payment for it (Everyone)

We are actively exploring our go-to-market and which jurisdiction will be the most favorable to help drive adoption of our platform based on a number of factors, for example: Regulatory and partnerships. Based on our initial results it's actually highly likely that the U.S. might not be the best place to launch.

One last thing to point out -> The WorkChain.io protocol is just that, a protocol, open to anyone that wishes to use it.

So the objective is to have a daily payout instead of monthly or bi-monthly?

Yes.

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There is also an advantage of having less paydays as it forces the receiver to manage the financials properly. If people tend to spend their money fast it might even be harder for them to save daily payouts if a big payment needs to be done for anything important.

If you take the position that consumer spending habits wouldn't change then you're right that it could have negative impacts.

Our team takes the position that it's not the job of the State / Employer to 'force people to save' and lock them into payroll cycles which if we're honest were never setup to help the employee. They were setup to allow businesses time to better manage their cash-flow and have time to process the payroll itself. We wrote about that recently here:

https://medium.com/workchain-io/blockchain-payroll-it-makes-zero-sense-that-youre-still-living-paycheck-to-paycheck-and-you-ac9dfdc4a0ef

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We believe that an individual should be compensated the moment the job is done and can be verified. How they choose to spend or save their money is their business. Not ours.

While our initial goal is to liberate individuals from payroll cycles, we also want to help them put their money to work faster so they (not the business or bank) can earn from their savings before they need it for life's expenses: https://workchain.io/whitepaper/workpay%20advance

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Here is how we see the future and what we're building at WorkChain.io:

An individual's savings are available and they alone choose how much they want to have available for withdrawal on a daily basis. They also choose how much they want to automatically put to work earning interest every single day they work! When they need to pay a rent, or a bill for example they can have those funds pre-programmed so be available on those specific dates.

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The world is a pretty depressing place if we don't believe in people to evolve alongside technology / or that they need the state to manage their lives/finances for them. That's not the world our team chooses to believe in. At it's core, isn't this what Bitcoin is all about, and how it all started?

Please see our post here:

https://bitcointalk.org/index.php?topic=4747371.msg43056884#msg43056884

Hi @Ranunculus2, @descuri -



We're a bit beyond the scope of the message boards for explaining these things, but I'll provide a quick summary here now and stay tuned as we have some great content and demo's coming up that will do more justice then this post can to these important questions -

At the core of workPAY is a flexible payment contract that will enable any two parties to enter into an agreement around scope of work, and payment for that work. What we're doing here isn't really revolutionary. Remember that offer letter / employment contract you signed? What WorkChain.io does is takes the payment portion of that and encodes it into a smart contract - Which then executes without any intermediary based on the conditions as to which it was programmed.

For example, in a time-based scenario the smart contract could release funds after a minute/hour/end punch time - Really anything. There are of course practicality concerns with true 'real-time' payroll (these are still smart contracts that have to execute after all).

So you can imagine this as a universal payment protocol, on top of which we can then start to think through the real world scenarios for the different ways in which people work, for example salaried/hourly, full/part-time, gig, contract,etc.

We see this as an important first step to remove the complexities that go into determining 'net' pay. This is a hugely complex problem, largely because it's different in every jurisdiction around the world (Fragmented), and is constantly changing. Lot's of fantastic companies have already solved these problems - WorkChain.io will work with them, either directly or indirectly.

Thanks for the great questions. More to come!

Ryan

Thanks everyone for the great questions, please join us in Telegram to stay up to date as well with the latest news from our team!

Thanks for your interest in our project! We will have a bounty announcement coming shortly. Join our channels to be notified!