Chronobank vaunts itself as "Uber for Recruitment". Yeah, another one.
Interestingly, they've raised more than $5 million via what's called a blockchain ICO (initial coin offering), using the same Ethereum platform that I've been writing about here over the last couple years.
Although I dislike Chronobank's "Uber for ..." metaphor, its marketing whitepaper carries more weight, and I do think they have something when they specifically target the likes of Upwork. Chronobank's decentralized approach can cut overhead and can help with disputes, assuming they can get enough activity flowing through its service.
Getting that activity going has been a big challenge for almost every play in the blockchain space. Just to get someone as a user on Ethereum's blockchain requires you to have an account set up and have it funded.
That means you have to somehow convert your fiat currency like dollars to Ether or Bitcoin using a service like Coinbase. After that, you have to either run your own blockchain node or use a proxy service.
I'm also a bit perplexed by the paucity of info in Chronobank's development paper. Getting talented developers in the blockchain space is hard and expensive, and the paper offers little other than brief bullet points that could have been created by a marketing person in minutes. Similar projects have been taking 10x the expected time and money. The $5 million of ICO money could disappear just getting an alpha version out.
Chronobank's coin could hit trading on decentralized exchanges soon. It will be interesting to see where they stand in three months.