UMKA: Freedom from Unemployment

elmichaels (1)(1)in #blockchain • 6 years ago

INTRODUCTION

In solving the problems of the world, researchers and scientist developed the internet. The internet today enables the communication between an Argentine and a Chinese without geographical restrictions and with this communication channel, the world began unlocked potentials. First, Facebook made us friends, now the internet makes us work online even as far as having geographically distant business partners and project teams working together to achieve a common goal. Now in July, 2018, humans can now work fully or partially onliine all as a result of easy communication, This is called FREELANCING.

As a freelancer, humans seek different jobs (writing, managers, developers, etc) online which requires certain skillset and total or partial dedication to a job or a team function over a specific period of time.
Today, the number of online jobs continues to increase due to its numerous advantages (social media advert requirements, etc) and as freelancing continues to solve unemployment all over the globe, freelancing begins to encounter different problems with communication medium (marketplace) and payment process being freelancing key issues.

PROBLEMS OF FREELANCING

1. Centralized freelancing mediums (marketplace) are controlled by a single entity who create, regulates and monitor the laws(unquestionable) and processes of a medium without the consent of it users
2. Timely or proper payment is not guaranteed to freelancers.
3. Centralized marketplaces always demand high commission fees.
4. In case of dispute, these situations are not properly solved.
5. The cost of Ethereum smart contracts are expensive, even with the fact that their Transaction per Second (7TPS) Speed is very slow
6. Lack of educational orientation by educational institutions to teach and verify new skill sets (certification)
7. Poor integration of freelancers with the professional community and their skill sets. The skill set to payment system is imbalanced.
8. Freelancing platforms do not offer teamwork opportunities.

HOW UMKA WORKS:

UMKA is a decentralized user-managed system that integrates inexpensive smart contracts to bring together qualified freelancers with trusted employers to perform a jobs or team projects (to promote teamwork) and get paid accordingly. To curb down high commission fees, UMKA charges only 1% commission and UMKA has successfully initiated UMKA Arbitrators in order to resolve dispute amongst users.

UMKA has integrated the DSOP consensus algorithm to increase TPS (20,000TPS) and UMKA has initiated a professional chat to ensure that freelancers communicate and share ideas within the UMKA community. UMKA will work with educational institutions so as to orientate and certify professional freelancers skill sets.

FEATURES OF UMKA

1. DSoP Consensus Algorithm: This is a delegated proof-of-stake decision making algorithm in which disputes amongst involved parties are solved by elected arbitrator ( highest ranking members) to maintain justice amongst all parties. Arbitrators will receive 5% commission to maintain justice.

2. UMKA Digital Passport: This is the feature that contains users key informations which is accessible to all registered users of the UMKA platform. This key informations include company's profile, feedbacks, freelancers records ( area of competence, work experience, previous works, ratings, etc) and qualification (C.V, certificates, etc)

3. UMKA Chat: This uses a Google Neural Machine Translation (GNMT) system that enables freelancers communicate and share ideas efficiently in real-time.

4. Agile Smart Contract: This is a unique smart contracts that allows the easy convertion of transactions into milestones (achievements) that contains key requirements and details of an employers job such as work (alone or team project) to be done, job timeline and payment budgets. UMKA enables the stage by stage project supervision and the immediate release of funds to freelancers when an employer is satisfied with his\her job.

UMK TOKEN DESCRIPTION

The UMK token is an ERC20 token built on the Ethereum Blockchain.

Token Symbol: UMK
Token Sale Starts: 1 June 2018
Token Standard: ERC20
Token issued: 180,000,000
Token cost: 0.10$/1
Softcap: 1,000,000$
Hardcap: 10,000,000$
Accepted currencies: ETH, BTC
Hard cap: 10,000,000 USD
Tokens for sale: 99,000,000 UMK
Know your customers (KYC) : Yes
Can’t participate: Seychelles

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