Crypto technology is being applied to a wide range of industries, including finance, art, games, and entertainment, to the point that it is merging the physical and digital worlds, a phenomenon known as the "Metaverse".
The current employment industry is fast being enhanced with blockchain technology and the crypto ecosystem;; it is a trend that is gaining popularity with both employees and employers since the smart contract technologies and processes in "blockchain" breaks down barriers, reduce transaction costs, and increase accountability. The conventional employment industry challenges can be alleviated by implementing blockchain technology, for example, by using blockchain to check skilled labor and employer data, it minimizes the time-consuming process of discovering records while simultaneously removing border constraints. Regardless of whether employees and employers are located domestically or abroad, blockchain tech can reduce or eliminate worker exploitation by establishing a new channel for compensation in cryptocurrency, and improving payments, escrow servicing, securities, privacies, among other things.
Because of the nature of cryptocurrency, which has no border walls, geographical constraints, or governments, employment between countries may be done more smoothly than with traditional cash, which would have been too costly. The issue of "exchange, tax and remittance fees " are preventing our strong local workforce in winning international level work.
Employers normally pay wages in the currency of the nation, which might be the employer's or the worker's native country; the other alternative is to pay in US dollars, which is a time-consuming process due to having to change currencies into their own nations' and incurring extra expenses for intermediaries, such as currency exchange fees and cross-border charges. Unavoidably, money will be charged to brokers rather than flowing directly into the workforce.
Employees can earn salaries fairly as a result of blockchain and cryptocurrency smart contracts, more work can be done with less transasctions, allowing companies like GetLinks to contninue to drive financial and education inclusion for more people. The current trends see "digital money" as a safe money alternative, capable of resisting inevitable inflation of some currencies.
Despite the numerous benefits, the state authorities are finding ways to regulate cryptocurrency as they become more mainstream. In the United States, the laws state that payment must be given, "As agreed and payable in cash or other instruments that have the same worth." Cryptocurrency arguably meets these standards, but in the United States, there are rules governing each individual state, so it may not be acknowledged by all states in the country. However, in many other countries, regulations mandate that compensation be paid only in their own local currency.
However, the use of cryptocurrencies for payment is becoming more common; for example, the mayor of Miami proposes to accept cryptocurrency payments, which the municipal commission has authorized.
Many Thai companies are beginning to experiment with the usage of cryptocurrency at HR events, with Brooker Group Plc. (BROOK) attempting to give rewards to staff in cryptocurrency, with plans to scale up to pay in the future as a salary for employees. While Employee Token Commission (ETC) is a program run by JMART Group (JMART) that employs the JFIN token as an incentive, while Employee Token Bonus (ETB) pays JFIN as extra incentives to employees as well.
The war for talents is higher than ever, progressive employers are offering Crypto-Based bounty sign on bonuses to lure top talents, a trend that is successful and not going away. Some clients also leverage off blockchain smart contracts for their employees or customers referral programs, which allows for performing millions of micro transactions with full accountability on record.
In Thailand, "GetLinks is a blockchain-based talents job matching and remuneration platform, as it creates fintech solutions in serving talents to 'earn more and spend wiser'. . Their digital currency (Ticker: LINKS) really takes advantage of all the smart contracts to AI technologies on helping their millions of job seekers find jobs and get paid fairly.
GetLinks is more than simply a platform for employers and employees; anybody can use it to perform various employment-related tasks, such as holding for capital gain; staking LINKS Token to earn yield returns as well as being a part of the GetLinks business ecosystem and be rewarded. This week LINKS launched a campaign with a client "Eatigo" a number 1 restaurant reservation platform in Southeast Asia. GetLinks is no longer just a HR partner for our clients, but we also help sell their products to all our B2B2C distribution channel as well, and we look forward to onboarding more partners to help the ecosystem.
As a result, it is now possible for anyone to participate in and drive the job search and blockchain industries forward, with GetLinks being just one of many suppliers who, independent of platform involvement, has a global presence in a new era in which the entire world is linked, removing the problem that people faced.
Using blockchain technology to enhance talents acquisiton and matching in Thailand is still very new, however we are seeing brave progressive companies in Thailand already experimenting and getting positive feedback. Traditional job-board offerings, where old habits of leaving your resume and hope for clients to call back, even GetLinks still have these to service the traditional hiring habits. Nevertheless, we are happy to see significant attempts in startups like GetLinks to leverage off new technologies in disrupting and enhancing the traditional work economy. Blockchain technology becoming more mainstream in the world of Human Resources means 'more jobs done' and more distributed 'financial inclusion' for mass population. Both are positively contributing as the economy recovers and rebounds from this biggest pandemic reset.
Blockchain technology is embedded into our every day life, even tho you may not see them or understand how they work. We are proud to have GetLinks, as a Thailand born startup, taking on this challenge in this whole Asia region that they have offices in. Companies are queuing up to discuss and learn what's the fastest way they can get involved, reminding us how each time a positive paradigm shift happens, there is a whole cluster of brave early adopters and influencers doing this together.
Source: Chomchaviwan