Review Work X

Work X: the first decentralized job economy empowering both talent and employers without commercial fees | $WORK |

#WorkX $WORK #Crypto #BINANCE

Zug, Switzerland, 19 Jan 2022, The lack of knowledge relating to the usage of cryptocurrencies is one of the biggest adoption barriers of blockchain use-cases. Despite innovative Web 3.0 tools such as Metamask, it is still tough for many individuals to own & use cryptocurrencies. Therefore, many blockchain projects lack the users to provide utility (and thus value) to their token. Work X is bridging the gap with ‘The Internet of Jobs’ to let people utilize the blockchain without any knowledge about cryptocurrencies. With a unique mechanism, Work X allows people to buy services on the platform with traditional payment methods. In the background, Work X bundles transactions and buys the $WRKX token from the market to cover the transaction costs for the users. With more than 50 large corporate enterprises in the pipeline, Work X will enable thousands of people to benefit from blockchain technology without them even noticing! As the platform onboards more employers and employees, more $WRKX tokens will be bought off the market, increasing its value. As of today, early buyers can participate in the private sale of Work X. Apply here to qualify for a seat.

Adoption barriers

Although ‘blockchain’ and ‘cryptocurrencies’ can’t exist without each other, these terms have very different reputations. Many individuals, companies and even governments are convinced of the value the blockchain can deliver to the world. However, these same people are also hesitant to use the blockchain because of various concerns related to cryptocurrencies, such as price volatility or criminal usage. Many arguments can be formed to invalidate these concerns, and also a large number of enterprises are beginning to shift from private to public blockchains for their business cases (which require the usage of a cryptocurrency to incentivize the use, Paul Brody, 2021). However, the main adoption barrier that goes beyond dispute resides; a lack of knowledge relating to the usage of cryptocurrencies. Work X believes that just like the internet, people should not necessarily possess the technical knowledge to use the blockchain. Therefore, people will be able to use the Internet of Jobs with traditional payment methods and get the same user experience as they are used to on platforms like Amazon Mechanical Turk, UpWork, or Fiverr. People will benefit from eliminated commercial fees without the need for Web 3.0 tools such as Metamask.

DeFi for work

As Decentralized Finance eliminates financial intermediaries like banks, Work X will remove mediators like gig-economies or recruiters. Work X is building a highly efficient platform economy to connect service providers with customers. By eliminating commercial fees, Work X is able to minimize the costs of labor and optimize salaries. Users only pay for fundamental services to run the platform at cost (e.g., payrolling, matching, curation & reviews). You can read more about the zero-margin costs mechanism of the Internet of Jobs here. The main goal of Work X is to bring people closer to each other in a decentralized manner. Work X can be best described as DeFi for work, utilizing various other blockchain products to achieve the goal mentioned above. These blockchain products will be explained in the remainder of this article.

Collaborate in the Metaverse

In the last few years, the way we collaborate has changed drastically. Due to the pandemic, millions of people were forced to work from home using online tools such as Google Meets, Zoom, or Microsoft Teams. Although there’s no substitute for physical presence, Microsoft CEO Satya Nadella advocates a hybrid solution where online collaboration can be an additional tool to maintain the connection between people. The Metaverse offers a great opportunity to collaborate online in a more interactive way. However, as more immersive worlds are being built, the question arises of how to move between them. Work X introduces the Hall of Worlds; an open platform that allows people to collaborate and/or socialize in different metaverse worlds. On the Internet of Jobs, service providers and customers can choose a world that suits the job and collaborate in an interactive way. If you want to hire multiple freelancers and explain the scope of the project, it might be helpful to dive into a 3D boardroom like Facebook Horizons. If you’re hiring an architect for a house renovation you could jump into a google earth playground and show your house while you discuss the requirements.

Platform governed by a DAO

We believe that ‘The Internet of Jobs’ will be crucial for the development and education of people as well as their human right to find suitable work. In its Sustainable Development Goals, the United Nations (UN) states that everybody should have access to employment, decent work, quality education and lifelong learning opportunities. This is why we believe the Work X platform should be decentralized, governed by its community and considered to be a common good.

Governance on decentralized networks can be achieved through a mechanism called a Decentralized Autonomous Organization (DAO).

The DAO will have the following responsibilities:

  • Reward-based curating of the job listings.
  • Decision making of grant allocations to teams adopting the Internet of Jobs
  • Voting about the future of the platform, towards which direction the development will focus.
  • Control over allocation of funds to the liquidity of the platform token

Tokenization of skills & achievements with NFT’s

Although assessments & development courses are a great innovation, it also introduces a new problem; several skill measurements and course certificates floating around in different online applications. Ideally, people can import every credential to a personal wallet that they can use during their entire career. Work X is using Self-Sovereign Identity, and personal NFT’s that you can earn & use on the Internet of Jobs to prove you are the best candidate for the job! Because you are the sole owner of this data, you control with whom you share it.

Work X identifies work credentials such as diplomas, online certificates, references, peer reviews, or assessment results as personal achievements. These personal achievements are linked to your digital identity using Self-Sovereign Identity, which functions as a token representing yourself; your anchor in cyberspace. Instead of losing the information related to your performance after employment, the data is stored safely in your personal wallet so it can be used to match with a new employer. Work X is funded and supported by the European Commission to develop this use-case.

The Fuel of Workx Platform

The $WORK token is intended to provide digital access to the platform by means of a blockchain-based infrastructure. In this paragraph we will shortly summarize the different use-cases to answer the question how the token has utility. In the near future we will present additional token use-cases so stay tuned!

Token Utility 1: Get Access to Platform Services

To access services on the Work X Platform such as posting jobs, skill assessments, development courses, the AI-Assistant, and many other services on the platform, users need to possess the $WORK token. Other examples of costs we need to add to our transaction fee requirements are for example AI tokens, running servers, development grants, etc.

Token Utility 2: Collateral for Job Listings

To make sure that all job listings comply with the code of conduct of the platform, tokens have to be deposited.

Token Utility 3: $WORK Platform Support Rewards

Users of the platform who hold $WORK tokens and add to the liquidity will be rewarded with $WORK tokens within an NFT for their support of the platform and community. As they are contributing more to the maintenance and continuation of the platform, they are important for the future of the platform and deserve to be rewarded.

Token Utility 4: Platform NFT’s

When users get achievements on the Work X platform they will be rewarded with an NFT that holds an amount of $WORK tokens. By holding and adding to the liquidity of the $WORK token, they will be rewarded with an appealing APR on top of their tokens.

Token Distribution and Fund Allocation

At the the Token Generation Event (TGE), the generated tokens and funds will be allocated proportionally to different use-cases and operations. In the ”Vesting” column of Table 1 you can see the vesting period of each of these token allocations in months. Not only tokens bought by early buyers will have a vesting period, in fact the buyers have some of the lowest vesting periods while most of the Work X allocations vest over longer time frames. For example the intended DAO will gradually unlock it’s funds over 5 years without any tokens being unlocked at TGE.

Roadmap

Partnership

Team

FOR MORE DETAIL VISIT:

AUTHOR:

#PROOF OF REGISTRATION

https://bitcointalk.org/index.php?topic=5473665.msg63205184#msg63205184

Forum Username: Ivan Zamoranno

Forum Profile Link: https://bitcointalk.org/index.php?action=profile;u=3239929

Telegram Username: @ivanzamoranno

BEP20 Wallet Address: 0x9BEca4D1271E59efeCE30234269EcEFA5E6dB66C

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