Over the next 10 years, up to half of the able-bodied population of Western countries can go to freelancing – these are the realities of the modern economy, in which the sector of remote work is rapidly growing. Developing countries follow the same path.

The reasons for this dynamics are many – both strictly systemic, and socio-psychological. However, the fact remains: for all the positive aspects of self-employment and freedom from permanent employment contracts, freelancers in the modern world are the least protected category of working people. The current employment system does not give anyone a chance to feel confident.

Usually in the production relations there is a system of arrangements: hourly or monthly wages, legal guarantees of payments, etc. However, if you are not working on an employment contract at an enterprise, and are engaged in short-term participation in IT projects, it is sometimes difficult to receive earned money. Freelancer can leave with nothing, if the work done by him did not bring the expected fruits, was not completed on time or at some stage turned in the wrong direction.

It may seem that the technology of blocking will look organically in this sphere – the system of smart contracts has already become a fundamental shift in the settlement of labor conflicts between people who were never represented to each other. The problem is that a smart contract alone can not solve all the problems of freelancing – this requires an ecosystem in which there is a system of working and payment conditions, a pool of employees of different competencies and so on.

And such an ecosystem is already being developed – its name is UMKA.

Technically, the UMKA project is a decentralized labor exchange in which it is possible to select a working team, to learn all that is necessary about the competence and integrity of each individual contractor or customer, to resolve conflicts through expert arbitration and to improve professional skills in online courses of leading universities in the world organized for the community.

Like many other block-start-ups, UMKA suggests a symbiosis of parties whose interests in the traditional economy do not always coincide.

The conditions created by the team of developers of this project will work for the benefit of both customers and performers, significantly reducing their level of economic antagonism. For example, labor merit and the passage of refresher courses, aggregated platform, will become real arguments in favor of hiring a specialist.

So, each user of UMKA will have his “digital passport” containing data on competence and activity on the platform. The customer and the executor on the basis of the work can expose each other’s assessment and leave a review. All user information is stored in the locker – this is what distinguishes UMKA from similar platforms using a centralized database. The risks of hacking, leaks and unauthorized access when using the decentralized database are brought to nothing.

One of the know-how of the platform is the use of flexible AgileSC smart contract. Unlike the standard smart contract, AgileSC can be edited with the consent of the parties. Any transaction on this technology can be divided into an arbitrary number of stages and configure each of them according to three main parameters:

  • work – the task to be performed;
  • time – time interval;
  • budget – pay.

AgileSC also provides an opportunity to resolve the conflict situation without involving a third party. For example, if one of the parties does not communicate within 48 hours after the next stage, the contract is automatically broken, and its budget goes to the disposal of the active participant in the transaction. Thus, the payment of the time spent to the executor or the return of funds to the customer is guaranteed.

Nevertheless, there can be situations when an automatic or “amicable” resolution of the conflict is impossible. Then UMKA experts enter the business, which can be users of the platform with the best business reputation. They pass a verdict in favor of one of the parties and receive 5% of the impugned sum.

Another interesting aspect of the platform can be called an asset system – the equivalent of crypto currency or fiat money, which runs between the users’ internal purses. This is done to maximize the simplification of financial transactions, for which transaction time and commissions will not be spent. Assets are calculated at a rate of 1: 1 in relation to the currency, whose avatar falls into the internal purse of the platform, and are output if necessary to external.

Speed, flexibility, data security and, most importantly, the lack of commission for the creation of smart contracts – the merit of the EOS blockbuster, on the basis of which UMKA operates. For comparison, its throughput is several thousand times higher than that of the blocker Ethereum or Bitcoin.

The legal side of the project includes a tough policy to counter money laundering through a number of filtration mechanisms that quickly and accurately determine all suspicious financial transactions. Also within the framework of the project, the system “know your customer” (KYC), which identifies sellers and buyers of tokens.

Public sale of UMK tokens started on June 1. The details of the token are on the project website.


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