A majority of young people are on the path of self-reliance. That means most people nowadays no longer seek formal employment. Consequently, this results in alternative tactics of finding jobs through social applications. Unsurprisingly, blockchain ventures are offering a much similar concept to accommodate the millions of unemployed young professionals.
What Is Honor?
HONOR HONR is a cryptocurrency with a goal to establish a new work experience for individuals seeking employment through the blockchain technology. Under the JUBS platform, members can offer jobs or help complete a task on offer, from where they get paid in HONOR. The utility token will help JUBS emerge as a form of a decentralized marketplace to supply an individual to work on the tasks and services.
What Is JUBS?
Whereas HONOR is the crypto for the employment ecosystem, JUBS is the actual app to facilitate the use of the token. The application is set to provide a set of features to its users whether a client, professional or service provider.
For the professionals, there is an informal LinkedIn portal that helps connect the clients to the experts through a reputation-based validation system. Clients, on the other hand, benefit from an efficient service provider platform that allows them finding trusted professional quickly and easily.
There is also a payment hub integrated into the JUBS portfolio. The center works for customers who want to pay for the professional services they have received regarding either crypto (HONOR) or fiat currency
Honor Decentralized On-Demand Work Crypto Coin Benefits
Some benefits are set to come with the adoption of the JUBS ecosystem plus its crypto token, HONOR. A major plus of the platform has got to be the billing model. Almost half of the subscription value of the platform's professionals goes into repurchasing the HONOR token. Later the platform reinvests or exchanges this tokens, and the profits go to the users.
The use of smart contracts is also an added advantage to the project. That is primarily due to the cases of services fraud, late payments or false guarantee that tend to occur. Under JUBS, the contractors offering their services will be able to pre-determine the conditions of their contract or informal jobs. Each agreement will be independent and transparent to allow for a fast and secure way of transactions.
Should You Invest In Honor HONR?
Although the project receiving great enthusiasm from young self-employed professionals, the project is yet to cause any buzz in the crypto world. Much of this, would attribute to the fact that the problem is the application is mostly centered in Brazil. Not much is yet to happen beyond the borders of its origin country, although the team does anticipate to take over Latin America's labor market. As of now, most of the goals are yet to be achieved, and it will rely on how the outside world is going to take it up.
Additionally, HONOR seems to lack a business plan that will facilitate its existence in the long run. Also missing a critical evaluation of how they intend to sustain their work platform might indicate this is an instead pump and dump scheme.
However harsh the assessment might be, it is good to be aware of the conditions you ought to invest in beforehand. And although the concept is workable and attainable, I do not see HONOR or the JUBS application living up to the hype.