UMKA: Decentralized Labor Market

adedayor (45)in #umka • 6 years ago

UMKA is an efficient project implementation and a team-building tool based on the blockchain technology. UMKA means financial safety for all users: all platform transactions use agile smart contracts based on blockchain technology. UMKA is aimed to be a solution by creating a decentralized labour market, it is had efficient project implementation and a team-building tool based on the Blockchain technology.

The Labour market or job markets in the other hand functions through the interaction of workers and employers. Labour economics looks at the suppliers of labour services (workers) and the demanders of labour services (employers), and attempts to understand the resulting pattern of wages, employment, and income.

The Labour market is facing some service problems like, talking about Centralization, data and Finance are accumulated and managed by a single entity. Platform regulations, the amounts of fees and commissions, and the system's technical parameters may be amended without the consent of the users. The system is massively lacking proper work performance and there is little or no guarantee of timely payment.

Also in the Labour market, there is high commission fees on the freelance platform market at the moment and it ranges between 2.7% and 20% of the transaction amount. In another view, the system is also experiencing poor integration of freelancers with the professional community and lack of communication within the market, and the freelancers platforms offers no teamwork opportunities.

UMKA SOLUTIONS
UMKA is a 100% decentralized user-managed system. All data on transactions, ratings and key user data are stored on the Blockchain.
The UMKA as come with a lasting solution by providing an Agile Smart contracts that allows stage-by-stage payments and amendments agreed upon by both parties with a regulated commissions fees which is 1% per transaction.

With UMKA, there is a blockchain with fast and inexpensive smart contracts based on the DPOS consensus mechanism. In order to make transactions cheaper and faster, UMKA will be using assets for fiats and cryptocurrencies. And for each freelancer category, UMKA creates professional chat boards for freelancers to communicate with each other, learn news, share experience, and network.

How UMKA OPERATES
In order to simplify fiscal relation between usees, UMKA introduces assets for cryptocurrencies and fiat currencies. An asset is essentially a token (or an avatar) for a currency in the UMKA blockchain supported by the Cryptocurrency balance on a user's account in his/her UMKA wallet and the fiat balance on the account of the UMKA entity. Assets of any currency can be purchased at a 1:1 rate, For instance, if a user deposits 1 BTC. he/she is going to receive a number of tokens equivalent to 1 BTC.

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UMKA Mobile App
As of now, an interface of UMKA Mobile App has been developed for Android and iOS. Demo version of these applications are available on iTunes and playMarket. Full capacity versions are scheduled for development and implementation in Q1, 2019.

Token Description and RoadMap
UMKA Token is an ERC-20 token, issued on the Ethereum blockchain. UMKA will 180,000,000 tokens in one installment at the price of $0.1 USD per token