5 Cryptocurrencies That Solve Real-Life Problems Like Steemit Did For Blogging! (No shitcoins!)

In a blog post published  by The Mises Circle in August 2013 and titled "The Problem  With Altcoins", Daniel  the poster wrote:

 "New  ideas attract not only visionaries and pioneers but also charlatans and  fools. The former group understands the nature and potential of the new  idea and attempts to extend it in new ways. The latter observes the  success of the former and expects similar results through blind  imitation and empty hope" 

He  is talking about all of those coins that have nothing new to offer (shitcoins). No  innovative features. No utilities. Nothing. Zilch. Nada! They are there  just to feed the pump-and-dump speculators of this world and some naive  get-rich-quick investors. 

But  on the flip side, I am always excited, fascinated and inspired every  time I come across a new cryptocoin that brings creative solutions to  real-life problems.

In  this post, I am about to introduce you to one of the most innovative  cryptocurrency project I have found based on my research. I'll also   give you  detailed information as to which features  justify my decision  to pick this particular coin. As of now there are five (5) of them on  my list. So once a week over the next few weeks, you can expect me to publish a post which will be titled: "Coin of the week".  

Now before going any further,  here is an important disclaimer: 

In  evaluating a coin project, my focus is set exclusively on  it's problems-solving potential and nothing else! Which means that if  you want to know whether a coin is legit or not or whether it's a good  investment or not, I am asking you to do your own research in that area  and not to  solely rely on the information I provide in my post. 

"Chronobank" My coin of the week for this week! 

The reason I chose this startup is because Chronobank's goal is to eventually be "the Uber of Recruitment and Labor". Their plan is to match workers directly with employers, in both online and offline occupations around the whole world.  The workers will be paid with Chronobank's own cryptocurrency called: the "Labour Hour" (LH) for  short. And a debit card will also be provided  to allow them to convert   their earnings from cryptocurrency to cash locally.  

Therefore  in my book, by putting these three items  together: a cryptocurrency, a debit card and universal labor, I  think that Chronobank may be able to disrupt the entire workers recruitment  and labor field,  (416 billion dollar industry) in the same way that Uber was able to crush the legacy taxy industry.  

By making it possible for new users to acquire the new  currency by working for it instead of having to buy or mine it,  this could even be the killer app that cryptocurrency users have been waiting for, as new users  on-boarding which is the process of putting the new currency into people's hands, will be done organically through their labor, the same way that Steemit is able to on-board his new users through blogging.

A 200 year old concept unearthed

But the  truth is that this is not a totally new idea! Basically what this  startup is looking to do is to take a 200 year old  alternative economy  concept called  "Time Banking".  Add a couple of well tested  e-commerce features like Reputation and  Escrow to it and then matching the whole thing with blockchain  technology. I think this is  a grounbreaking  concept!. And that's why this project is on my list of the top 5 Cryptocurrencies that solve Real-Life Problems. 

In conclusion

To be fair, I am of course aware of other platforms such as Upwork.com and Fiverr.com   that are also in the business of matching online workers with  employers. But the truth is neither of those platforms is able to match  the kind of value that Chronobank is looking to provide which is,  universal economic inclusion in addition to large scale employment  opportunities. And what's more is that they're looking to do that on a  truly global level and not just in those select countries that are Visa, Mastercard and Paypal friendly.

But  it's not a done deal yet. This project still has a long way to go  before hitting the pavement. The encouraging part is that they've just  raised 1.2 Mil USD through an ICO a few weeks ago. So I wish them good  luck and until then, will keep my fingers crossed. 

This was the first instalment of my "Coin of the Week's Series" and I Hope you've enjoyed reading it. Your questions, comments and votes are always welcome.  

Final disclaimer 

 @internistic the author, certifies that this post is based on publicly available information at www.chronobank.io. That It only  reflects his personal opinion and that he is not personally associated with the Chronobank project.