Democratizing The Social Web With Self Directed Communities, Commerce And Connection.. Peerity ICO rating – not rated.
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Ended ICO : 01/11/17 – 30/11/17
About Peerity ICO (token sale)
PEERITY.IO is a technology company that wants to allow people anywhere to trade their time and respective talent securely and safely in a decentralised, global network.
The main idea of time banking is that labour time is the most important commodity people have. Time-based money and labour notes have been in existence for well over a century, but the concept has been limited in its application by problems around fungibility of labour-based assets. Normally it works in small communities where neighbours help each other out, or it’s mostly limited to charities and volunteering
PEERITY.IO are linked to average hourly wages in the host country and are backed by a real labour force from big recruitment and labour-hire companies.
Labour is abundant enough for everyone to have access to it, yet scarce enough to be valuable. It is the most tradeable resource in the real economy.
PEERITY.IO tokens will tokenise this resource. Because they are backed by real labour, they are absolutely inflation-proof and have next to zero volatility — in comparison to bitcoin and other cryptocurrencies.
This solution is far more sustainable than any of the fiat-pegged or backed coins that currently exist in the crypto market. PEERITY.IO
PEERITY.IO Decentralised Marketplace
The second stage is to create PEERITY.IO, a decentralised marketplace where people in real-world professions will be able to sell labour-hours to anyone.
PEERITY.IO tokens will act as a substitute for payments in fiat currencies and will enable people to be rewarded for their work — without cryptocurrency’s signature volatility risk.
We have taken great care to design the system for ease of use, to make sure that actual labour time and the PEERITY.IO token can be exchanged efficiently for each other. While timebanking in its simplest form uses a standard exchange rate for time, each PEERITY.IO participant will have reputation assigned to them, to enable them to access remuneration appropriate to their skill level.
The better the individual’s reputation based on previous work, the higher the price they will be able to command for an hour’s work. Initial reputation will be set based on the individual’s experience within the partner company from stage one of the project.
For those who have not participated in the system in any previous capacity, a nominal average reputation will be assigned.
Every care is taken to incentivise the user to increase their reputation and maintain it at the highest level.