ChronoBank, a blockchain-focused project backed by leading Australia-based labor hire organization Edway Group Ltd, announced its partnership with WAVES, a decentralized blockchain platform, in a move to create ChronoWAVES wallet.
To create a new version of its ChronoWallet for the Waves platform, ChronoBank will use time-based Labour Hour (LH) tokens and a decentralized labour exchange that will revolutionize the recruitment industry. These tokens will form the lifeblood of ChronoBank and the LaborX exchange, where they will be traded against professionals’ work time and other currencies, will be created on multiple different blockchain, the release stated.
“This is a measure designed to build in redundancy, to spread our appeal to different communities and to leverage the best of all blockchain technology,” Sergei Sergienko, CEO of ChronoBank, stated.
Along with the basic features like blockchain data validation and multi-address accounts, the new WAVES version will be closely integrated with ChronoBank’s services that support LH tokens issued on the Waves blockchain. The wallet will be using a key feature – Waves’ decentralized exchange (DEX) that is soon to be released on mainnet.
“ChronoWAVES will be an advanced lite wallet implemented in Javascript and fully compatible with the original Waves GUI,” a lead developer from ChronoBank, commented. “After the release, it will allow trades to be settled on the blockchain and we are going to utilize this fully for the exchange of Labour Hours. Additionally, a token-swap feature will offer potential integration of Ethereum tokens with the Waves blockchain. We definitely plan to share our contribution in the JavaScript infrastructure for Waves Platform with the community.”
ChronoBank is currently in its crowdfunding stage that will continue until 14th February and has collected in excess of $4 million, at press time.
