Chronobank is changing its name! As of now, all of our products and services will be developed and maintained under the new umbrella of Chrono.tech.
There are a couple of reasons for this change. Firstly, while the idea of ‘time banking’ inspired and informed our thinking, we are definitely not a bank. We are a technology provider, and so any connotations with ‘banking’ are misleading. In this sense, the change from Chronobank to Chrono.tech is a very natural one. (And, of course, anything to do with ‘banking’, whether in name or activity, is sooner or later likely to attract the attention of regulators — needlessly in our case.)
Moreover, we explicitly don’t do what banks do. We don’t take custody of any assets, and we don’t manage or control what individuals do with their own money. We believe in a world without barriers or intermediaries. Users are their own banks. Our job is to give them the technology they need to make that possible: to disintermediate and sidestep the inefficient institutions that plague the recruitment and payments industries.
Renaming as Chrono.tech makes it clear that we’re a tech company. Specifically, we use blockchain to facilitate global recruitment and HR operations.
In practice, you won’t notice any difference to our software or services as a direct result of the change — it’s simply a rename, not a pivot. But that won’t mean there won’t be other developments. As ever, we’re working hard to expand and refine our flagship products: LaborX, TimeX and PaymentX.
Our global recruitment platform, LaborX, is now operating and users are able to organise tasks, create digital work agreements and escrow funds for automated crypto payments. We’re in the process of redesigning LaborX to improve the workflow and add new features — stay tuned for further updates.
Our hybrid, Plasma-based exchange is also operational, allowing users to trade digital assets trustlessly, at high speed and with an excellent user experience. At this point, TimeX is focusing on marketing, liquidity and adding new pairs.
Our crypto payroll application, PaymentX, just became even more secure, thanks to Trezor integration! We’re now working on adding further payroll features to make the service more versatile and useful for HR departments and individuals who want to pay and receive funds in crypto.