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ALMBank Platform To Improve Access To Crypto Labor

Originally published on: CCN
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January 30, 2018

Japan Blockchain

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As the cryptocurrency market continues to expand, so too does the demand for labor serving that market. Unfortunately, platforms have not been available that allow people to find secure employment in the evolving cryptocurrency industry and to enable employers to find good, reliable talent.

ALMBank, an Ethereum-based platform that provides a barter backed labor pool, provides a solution to the demand for good employees in the fast-growing cryptocurrency industry.

In addition to offering new ways for finding and providing good labor, ALMBank supports a charitable culture by offering a forum for posting charitable enterprises in need of labor.

The founders envision ALMBank as a high-end, cryptocurrency job market focusing on helping startups, charitable enterprises and ICOs.

ALMBank has been designed to provide a higher standard for freelancing via the blockchain. The platform also will help freelancers develop higher standards of cultural innovation.

Labor Organization Needed

The industry’s growth has resulted in a large number of freelancers with cryptocurrency skills. However, outside of Reddit and other forums, none of this labor is organized.

ALMBank will save people coming into the industry from being forced to use inefficient forums and message boards.

Existing employee marketplace platforms currently charge high fees for both employers and employees. This system results in poor matches for the workers. None of the platforms operate on a labor backed currency to provide a sustainable demand and drive for an efficient labor barter system.

ALMBank will offer employers a flat rate, one-time hiring fee system as opposed to the existing 20% headhunter model that has sapped hiring budgets.

Employers will barter with freelancers for their services or pay them in ALM tokens.

There will be no membership fees to join the platform, only service fees for those fulfilling paid tasks. The platform will charge employers a 3% to 9% fee for administrative costs.

All ALMBank transactions will occur immediately, and no one monitors employee/employer exchanges. The platform will also offer offsite, third-party escrow for larger transactions, taking responsibility for payment delivery.

The platform will take measures to ensure fairness for investors such as providing historical and current data.

Focus On Charitable Enterprises

ALMBank will allow people to post charitable projects that are needed. Others will be able to apply to complete these charitable projects.

The charitable portion will be paid for by a 50/50 split of fees generated by the profit side of the platform. Half of the fee goes back as a charitable reinvestment, while the other half is used for covering business expenses like salaries, maintenance and growth.

The platform will also provide continued training via YouTube and personal development programs.

Platform users will own 5% of the platform, with tokens paid out on an annual basis based on usage at the given time.

Hard Assets To Provide Platform Stability

ALMBank will back 30% of the platform with funds raised by gold, silver and fiat to ensure stability. A monthly ledger will verify the deposits via Skype and Facebook or public keys on the ALMBank website.

The pre-ICO has been extended to Feb. 27.

The ICO will run from Jan. 28, 2018 to Feb. 28, 2018. The price will be 1,000 AALM equaling 1 ETH, without bonuses.

During the ICO, there will be time bonuses for early payments, bulk purchase bonuses and referral bonuses for both the referrer and the person referred.

There is a 99.999 million token cap, although the number of tokens raised in the crowdsale and presale combined will account for no more than 30% of the total number of tokens. Additional tokens will be sold at the platform’s launch.

The time bonus will be 15% at the start of the ICO, decreasing to zero at the end of the ICO.

The token contract will be based on the OpenZeppelin library.

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