Re: [ANN][WHITELIST]WorkChain.io- Real Time Payroll on the Blockchain

awesome idea but its gonna take a loooong time to get used in real life. People still don't buy their groceries in bitcoin, pay their rent in bitcoin, pay their mortgages in bitcoin, and so on. As soon as cryptos are used more instead of bought to make money, this project will be on the first row. This is not a question of if, it's a question of when,but these kind of projects like Workchain will surely speed things up!

Yeah sometimes you just ask yourselves how I didn't think of that?

It is great idea,but implementation is toughest part,but Workchain has experience needed fot this to be success,so im definitely optimistic,

It is also quite difficult to get noncrypto people interested in using crypto which will be needed for this project to go global.

Its true that people's interest in crypto is not yet big enough and many are afraid of volatility.
To overcome this problem, at WorkChain.io, we are implementing solution using stable-coin like TrueUSD, which is always 1:1 with USD.

This approach will bring crypto to people and they don't even need to know about it.
They will be earning TrueUSD which is same as USD and spending it in real world using their crypto debit card.

Using TrueUSD they are already in crypto ecosystem and barrier for exploring the rest of ecosystem.

So TrueUSD is something like Tether,and we will be able to use that on exchanges?Or it will be internal currency?

if it can indeed be implemented, then this project will indeed be an extraordinary project. but by looking at the cases in each country that have not been too interested in crypto I think this will require a lot of time and funds so that this project can work. goodluck

Currencies like TrueUSD ultimately are related to an inflationary currency like the USD that constantly loses value. I am not sure I like the concept of stable currencies at all.

That is true,but in order for crypto to truly come into mainstream,it will have to be more stable,otherwise people will never accept it on the mass scale.

That may be true, but most stable currencies are only used for hedging and not so much (if at all) for daily purchases.

You are right, at the moment thats the situation.
In near future it will be just used to transfer stable value using blockchain and funding crypto backed card.

But in few years, or maybe even before that, when you have goods that you can purchase, we are sure that they will be used for daily purchases.

The problem with using unstable cryptos on cards is also about the tax calculations. Therefore it would be good to have in-built tax software or something like that which assists the people in keeping track of everything properly.

Yes, taxes are something that we are thinking about on a different levels.
For example, we might work on making standard interface like ERC20 is for tokens, ERC__ for calculating taxes, so governments can issue their own.