Review on Grain
*Source: https://grain.io/grain-whitepaper-v101.pdf?1
Grain is a project that enables to process labor contracts based on blockchain technology,
offering an instant payment mechanism for employees.
The Grain ecosystem contains five essential elements:
- labor contract
- instant payment mechanism
- liquidity insurance
- harvest fund
- governance (compliance with legal framework)
https://grain.io/how-grain-works/
First, a labor contract containing all necessary information on the type of work, the amount of wage and staff involved is created on blockchain. The contract is registered in compliance with the required labor regulation.Liquidity insurance is used to protect against currency volatility and to ensure an employee receives the agreed-upon amount of reward. Second, once the work is accomplished, an employer and a worker agree upon the contract and reach a consensus. Third, upon agreement, the worker receives an instant payment which is transferred to his wallet automatically. Then tokens are exchanged to a fiat currency.Furthermore, the worker receives a percentage with every transaction processed by Grain. Afterwards the percentage is accumulated in his or her Harvest fund.
The Grain token is used as an initial default currency for transactions. The token is based on Ethereum and follows the rules of ERC-20.
Essentially, Grain offers easy and transparent solutions to process working contracts. Grain suggests that employers can significantly reduce administrative costs, while workers are ensured a reward which is not affected by currency fluctuations.
The Team:
The Grain project is headed by Onno Hektor, a former Senior Director working for Microsoft. Onno has vast experience introducing Microsoft products and US start-ups to the markets of Europe, the Middle East and Africa.
The following professionals are currently working for the Grain project:
André Bonvanie, a board member, with background at Microsoft Corporation, where he was working in the position of a Sales Director.
Erik Koster, a blockchain consultant and a board member. Erik obtained a double Master's Degree at the University of Amsterdam and Delft. Apart from being a blockchain consultant at Grain, Erik Koster also heads Globalscreen company.
Arjo van Ramshorst, a founding member with an expertise in blockchain, and a Chief Technology Officer at Flexentral.
Maurits Elzinga, a founding member, working on integration of Grain inside Flexentral.
The Grain Team also includes a blockchain expert, a smart contract expert, and marketing and PR experts. Grain has a strong team as it engages professionals with extensive working experience and solid background at global companies, such as Microsoft. However, it can also be seen that currently the company lacks developers for the project.
Development and Prospects:
So far, the company has issued a limited amount of 3.600.000.000 GRAIN tokens. The ICO is scheduled for April 16th, 2018, and it is planned to sell 30% of all tokens.
The company plans to allocate tokens in the following way:
30% Public sale
25% Escrow fund
24% Foundation
15% Advisory Board and Partnerships
5% Founding team
1% Bounty Program
Clearly, a larger share of tokens will remain within the company. Grain explains that tokens will be kept by the Foundation to provide for sustainability and growth within the ecosystem. Also, 25% is allocated to the escrow fund with an aim to manage exchange rate fluctuations during the term of labor contracts. Still, 30% of tokens are available for public purchase.
Summary:
Grain is an interesting project based on the idea of processing labor contracts. The project opens wide prospects, as it offers innovative ideas in the employment sphere, and has a functioning mechanism to ensure safe and transparent handling of working agreements.
Website: https://grain.io/
White Paper: https://grain.io/tokensale/#whitepaper
Telegram: https://t.me/joinchat/IAWYn0jj2m02434fbd73Tg
Twitter: https://twitter.com/Grain_io
Facebook:https://www.facebook.com/grain.io/
ANN: https://bitcointalk.org/index.php?topic=2766557.0
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