How to Improve Labor Contracts with Blockchain?

Learn about the advantages that Grain provides to both employers and employees
14 February 2018   129

GRAIN processes labor contracts on the blockchain and provides an instant payment mechanism for compensating workers.

GRAIN reinvents the way we work, and lets workers share in the success of the platform.

The GRAIN blockchain simplifies labor contracts by processing the work agreement through a smart contract. At the same time, the ecosystem introduces a compliant, prompt and fair payment mechanism, all while maintaining full security. The third and final part is the introduction of a digital savings account for workers who are being contracted through the system, which can also be used to pay into pension or for shorter-term needs.

To provide a viable solution for work agreements around the world, GRAIN will be flexible enough to comply with any regulations related to labor. To protect both sides of the transaction, GRAIN’s protocol also contains a special mechanism for handling the potential volatility of cryptocurrency.

Using the GRAIN blockchain opens up possibilities for staffing agencies, payrollers, HR system developers, accounting software and many others. It allows organizations to utilize objectively measurable and transparent labor contracts while substantially lowering overhead costs of work agreements.

In short, GRAIN provides the 100-billion-euro payroll industry (as determined by the annual reports for the top twenty companies) with a transparent, secure and democratic ecosystem for labor by upgrading the existing system to one based on the sharing principle.

Workers receive a direct bonus with every transaction. And as the value of Grain grows over time, the liquidity insurance mechanism collects a profit that gets distributed to everyone.
 

Roberto de Freitas

Actuary and risk management professional - Board of Advisors Grain.io

How Grain works?

  1. Agreement details are logged on a smart contract.
    1. Details about the parties involved, the work to be done and the compensation.
  2. Work is delivered and consensus is reached.
    1. After the job is done, both parties sign off and the contract is settled.
  3. Instant payment from company to worker.
    1. Funds instantly get transferred to the worker.

Grain
Grain

These are the core elements that fuel better work agreements:

Grain Ecosystem
Grain Ecosystem

  1. Labor contract
  2. Payment
  3. Harvest
  4. Liquidity insurance
  5. Governance

Grain features

Let's figure out, what are the advantages of Grain platform.

  • Slash the cost of labor
    • By cutting out intermediary services and minimizing administrative costs, employers can push down the cost of their workforce.
  • Pay contractors across currencies without the high fees
    • No more unfavorable exchange rates or transaction fees that can end up costing 5% of the transaction.
  • Get rewarded for processing work agreements
    • With every transaction, transaction partners receive 50% of the fee that is charged to the users.
  • A seamless back office solution for processing work agreements
    • The Grain protocol does the heavy lifting of registering, storing and settling agreements automatically.
  • Send expensive payment processing solutions to the sidelines
    • The Grain protocol instantly transfers funds to the worker. So third party payment processing solutions are no longer needed.
  • Share in the success of a growing Grain economy
    • Workers receive a direct bonus with every transaction. And as the value of Grain grows over time, the liquidity insurance mechanism collects a profit that gets distributed to everyone.
  • Stop cash flow issues due to late payments
    • By triggering an instant payment after the work has been delivered, contractors can sleep peacefully knowing they’ll get their money when it’s due.
  • Eliminating the risk of not getting paid
    • Worse than late payments is not getting paid at all. Luckily, with prepayment options, this can be avoided easily. And the transparent nature of the blockchain can help weed out rotten apples in the system.

Grain Tokensale Information

At the moment of press, the Pre-ICO, which started on 1st of February is ongoing. Public token Sale will start on 1st of March, with 4k ETH soft cap and 40k ETH hard cap. 

Grain Token Distribution
Grain Token Distribution

During this public offering, 30% of the generated GRAIN tokens will be made available for purchase. The tokens that aren’t released after the token sale and first bounty release are kept by the GRAIN Foundation to ensure a sustainable ecosystem.

Learn more at:

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ACTN Token Distribution About to Close

The users have last chance to get their 1000 free ACTN tokens as the token distribution for registration closes on March 1, 2018
21 February 2018   32

The Action Coin Platform represents over 500,000 Action collectors and customers from more than 200 countries and territories. It is the basis of an incentive-driven rewards program with “points” that are rewarded in the form of a decentralized, blockchain-based digital asset known as Action. Action may be redeemed for member-only discounts on a growing list of products and services offered through its business network.

ActionCoin has announced that the users who sign up are entitled to receive 1,000 FREE ACTION during the official token distribution event (Airdrop) scheduled to commence on March 1, 2018.

The two first phases of ACTN token pre-sale are already finished, and the third one will be held from February 21 to 25, with 250,000,000 Action tokens to be sold for $0.02 USD each.

BTC, ETH, XRP, XLM, LTC, NXT are accepted during the presale. The current market rate will be locked in at the beginning of each presale phase, for the entire phase.