Introduction to Linkchain
In the first phase of its development LINKCHAIN aims to develop Blockchain-based platform that will focus on connecting buyers with suppliers and managing transactions of goods and services between these two parties.
Although, the first generation platform would focus on connecting buyers with suppliers and managing transactions of goods and services between each other, the second generation platform called LINKCHAIN 2.0 will develop more complex supply chain needs such as planning, monitoring, and performance measurement.
Doing business without third parties is extremely risky as neither the supplier nor the buyer is protected from fraudulent activities.
Either supplier or buyer can be a bad actor by refusing to pay, or in supplier case, to finish the job.
Because of the reasons stated above, parties often choose to hire platforms which act as a neutral third party in the case of contract breach.
Platforms like Upwork had developed so-called Escrow Service. This service holds the buyer’s money in the special account controlled by Upwork, and after the job is done a buyer has two options, to release the money, or if the job isn’t done correctly, to ask for a change. Doing this the buyer is protected from supplier’s bad acting.
In the case that buyer is a bad actor, there is an option to use Upwork as the mediator, or if that is not enough, to ask for the arbitrage.
These platforms make life easier, but on the other side, charges high fees for their services. Those fees can go up to 20%.
The Platform will help buyers to search and award contracts to verified suppliers in an easy and secure way. In order to receive payment, the supplier’s work has to be previously approved by a buyer.
After job completion, both, buyer and suppliers will receive a rating from each other and suppliers with the best feedbacks will get more job offers.
All platform operations will be recorded on the Blockchain, thus including work transactions, ratings, and reviews.
LINKCHAIN aims to build a decentralized platform that will use smart contracts to remove all third-party interaction and to allow direct B2B(Business 2 Business) interaction.
The only situation when LINKCHAIN team would act is in specific situations related to disputes and the platform upgrades.
LINKCHAIN will charge a 5% flat fee for every contract.
Use Case Analysis
To start using platform every supplier needs to create an account, complete their profile by choosing the project they are interested in from the list of various types and pass KYS (Know your Supplier) that will be approved by a third party to prevent the possibility of frauds.
Buyer’s user interface consists of a search box, view profile, a recommended Supplier feature and the ability to save recommendations. View profile gives the buyer the ability to review previous projects and to see the ratings and performance of each individual projects, including comments.
LINKCHAIN will have a few interesting features such as Virtual Interviewer, CercaMatch and AutoMatch.
Virtual Interviewer is a useful feature that is making the interviewing process a lot easier by using AI to identify and source potential suppliers.
With Virtual Interviewer, the buyer no longer needs to interview each candidate. Instead, the buyer will develop questions once, and Virtual Interviewer will automatically select the right candidates and recommend the best ones.
While AutoMatch feature will help suppliers and buyers to be automatically matched and sourced, CercaMatch, when selected by a buyer, will show a list of the top five suggested matches of suppliers. If CercaMatch user isn’t satisfied with the results, he will get new top five suggested matches by clicking on this feature.
The Team behind Linkchain
Conston R. Taylor is a founder and CEO at LINK CHAIN. He has a wide experience in Financial Analysis, Sales&Marketing, cryptocurrency. Formerly he worked for ICObench and a few more Blockchain consulting firms.
Jack Bensimon is a Chief Compliance Officer at LINKCHAIN. He is a co-founder of BlockRake business consulting company that has focused on giving consulting services related to the blockchain.
He has studied at the University of Toronto and holds a master degree in Law.
Nancy Boisvert is a COO at LINKCHAIN. She advised many projects such as Snapparazzi Ltd, genEOS.IO, Agapi Marketing & Consulting Ltd.
For more information about the team and advisory board check here.
The team hasn’t responded to our Q&A inquiries yet.
Facebook: 3,480 people followers
Twitter: 132K followers
Telegram: 13776 members
Instagram: 9789 followers
These are some of the most important news on their Medium blog:
- Their CEO explaining why LINKCHAIN is better platform than current competitors
- LINKCHAIN made partnership with IComply Investor Services Inc.
Private Pre-STO start date: 12/1/2018
Private Pre-STO end date: 2/28/2019
Public Pre-STO start date: 3/1/2019
Public Pre-STO end date: 5/30/2019
STO start date: 7/1/2018
STO end date: 11/30/2019
Total token supply: 11,000,000 LNK
Token type: Security token
Token standard: ERC20
Token price in Private Pre-STO: 1 LNK = $1.25
Token Price in Public Pre-STO: 1LNK=$1.88
Token price in STO: 1 LNK = $2.5
Hard Cap: 16,250,000 USD
Soft Cap: $5,000,000
30% – held by the company
- Management Allocation – 20.00%
- Advisors – 4.99%
- Strategic Partners – 3.00%
- Operations – 2.01%
70% – issued to the public
- Private Sale – 14.55%
- Pre-sale – 14.55%
- Crowdsale – 40.91%
May – Conception
June – Team Assembled
September – Prototype launch
December – Private Pre-STO
January – MVP released, Usability Testing
February – Begin Onboarding Suppliers
March – Public Pre-STO, Begin Onboarding Buyers
June – Full Scale Sales & Marketing Campaign
July – Platform launch
August – Begin CercaMatch Development
January – LINKCHAIN 2.0
Linkchain vs Upwork
Upwork is currently one of the most popular hiring platforms. It is a place where freelancers go to look up for jobs, and the clients on the other side post the jobs and hire freelancers. It has a very nice interface, and it offers great UX.
At Upwork, after completing their job, freelancer gets the feedback from the client and also leaves his feedback.
If the freelancer tries to cheat the client, he would get bad feedback and wouldn’t be able to get another job offer. On the other side a client who doesn’t respect freelancer’s work and who isn’t fair, also get bad feedback. This feedback is transparent, so next time he will probably be refused by a freelancer.
For every job finished by a freelancer, the platform would charge a fee of 20% which often demotivates users, and they go off the platform to do the job.
When they leave the Upwork, clients and users have left on their own, and there is a ton of space for a con as there is no third party to protect them.
On the other side, LINKCHAIN platform will charge a 5% fee that will motivate freelancers and buyers to use it.
LINKCHAIN is going to develop a couple of interesting features such as AutoMatch, CercaMatch, and Virtual Interview. Also, LINKCHAIN will develop Blockchain-based supply chain platform solution so the whole process will be transparent and immutable.
LINKCHAIN is aiming to revolutionize the hiring process by automating the whole process with smart contracts.
This project is still in its early phase as they only released their MVP, so there is a lot of more on development side that needs to get done before we could comment further on the implementation of this technology.
The platform is going to help buyers to filter, search, screen or identify high-quality candidates in an easy and secure way.
Suppliers will identify interesting projects and start working on them without need paying high fees.
LINKCHAIN will make a hiring platform and a supply chain. The platform will charge a 5% fee for every contract which is very convenient as major hiring platforms charge significantly more.
This project has a solid team, marketing plan, and presence at social media networks. Taking into account the mentioned advantages, LINKCHAIN has a reasonable chance of success.