Our CEO Sergei Sergienko delivered a speech on how blockchain will revolutionise our approach to human capital.
Over 3,000 crypto enthusiasts attended BlockShow Europe 2018 a week ago on May 28–29, along with more than 200 journalists. Speakers included Wikipedia’s Jimmy Wales and BTCC’s Bobby Lee, amongst many others.
ChronoBank was there to fly the flag for our decentralised labour-hire marketplace, also sponsoring the event, and Sergei spoke about the potential that blockchain has to transform human capital and payment relationships.
Sergei gave his talk on the Main Stage on the second day of the conference. He began by explaining that resources have always been controlled by the few, who have always benefited more than the workers they employ. In fact, the way people are currently paid was developed 200 years ago during the industrial revolution, and has barely changed since. Employment is frequently exploitative as a result.
However, blockchain and other advances in technology have brought about an opportunity never seen before. There is a chance to change the way people sell their time and get paid.
‘This is big: it’s a lot bigger than most people realise or can fathom. We are trying to create a remuneration and people capital revolution. The current system does not reward people for their effort. It offers very little room for negotiation and the majority of working people are “price takers” NOT “price makers” for the most valuable asset they own, their time on this planet.’
By adopting an upgraded approach to time banking, ChronoBank offers something fundamentally different, putting control back in the hands of the many workers rather than the few resource owners. This shift means that ‘human capital’ is something that can be owned by people themselves — not by businesses and organisations, who seldom recognise its true value. Workers value themselves rather than being forced to accept the price a company assigns to them. ChronoBank isn’t the first to think of this idea, but they are the first to create a genuine, viable and global implementation.
Watch the full performance of Sergei Sergienko in this YouTube video beginning at 04:43:00. Enjoy!
BlockShow coincides with a major release for ChronoBank, as the first beta version of LaborX is launched. More details will soon follow on this milestone.
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