UMKA - The Decentralized Labor Market

INTRODUCTION
The Blockchain is a rapidly growing technology that is engulfing every possible business domain. Therefore, many reports published have predicted a huge rise in the Blockchain market. According to reports, the Blockchain market is expected to extend to over 20 billion dollars by 2024. It is counted in one of the most promising new technologies that are hoped to change the future of businesses and the internet.
Basically the rise of cryptocurrency and subsequent attention brought to blockchain technology has prompted nearly every industry to evaluate the benefits of integrating the technology into their operations. One such firm at the forefront of blockchain innovation is UMKA

ABOUT UMKA

UMKA is more than just a decentralized labor market. It is an efficient project implementation and a team-building tool based on the blockchain technology. UMKA is a comfortable space for cooperation between employers and contractors that offers a wide array of useful tools integrated into its system

UMKA is an efficient project implementation and a team-building tool based on the blockchain technology. UMKA means financial safety for all users: all platform transactions use agile smart contracts based on blockchain technology. Secure deals are done using the customizable Agile Smart Contract methodology based on the EOS blockchain. AgileSC offers an opportunity for stage-by-stage project payments and agreed-upon amendments while guaranteeing efficiency and convenience for all parties involved. Freelancers can work on their own or in project groups, and can be paid in 15 cryptocurrencies as well as fiat currencies. UMKA takes a 1% commission from all smart contract transactions within the platform. Funds, gathered this way will be distributed among UMK token holders automatically. UMKA is a decentralized blockchain-based labor market with efficient project implementations and a wide variety of useful tools integrated into its system.
UMKA is a comfortable space for cooperation between employers and contractors that offers a wide array of useful tools integrated into its system: digital passport contains user’s data. The data is stored on the blockchain. The digital passport contains all the information about user’s skills and qualifications, his/her work experience and a possible list of courses completed within UMKA platform sources. The digital passport makes easier for employers to find freelancers with the required skill set.

UMKA is a decentralized labor market. It is an efficient project implementation and a team-building tool based on the blockchain technology. UMKA offers employers a selection from dozens of thousands of freelancers with the required competency levels recorded in their electronic passports. UMKA provides freelancers with access to thousands of projects, vacancies, testing systems with a self-control function, and training programs from the world’s leading educational institutions. UMKA does not only offer a job search. It is a smart system that makes possible for employers to set the precise requirements for freelancers while freelancers are able to build competencies following the market trends.

Basically The vision is not just to create a job search platform but also the create an ecosystem that mutually benefits the employees and freelancers by allowing employers to set precise requirements for freelancers while freelancers will also be able to build their portfolio by performing these tasks and training programs available in the UMKA ecosystem. To actualize this vision and also In order to achieve one of UMKA’s goal of creating an expert community and also give these experts the best environment for work, education and personal development.

PROBLEM

Centralization: finance and data are accumulated and managed by a single entity. Platform regulations, the amounts of fees and commissions, and the system’s technical parameters may be amended without the consent of the users. No guarantee of timely payment and proper work performance. High commission fees. Commission fees on the freelance platform market currently range between 2.7% and 20% of the transaction amount.

SOLUTION UMKA OFFERS

UMKA is a 100% decentralized user-managed system. All data on transactions, ratings and key user data are stored on the blockchain. An Agile Smart Contract that allows stage-by stage payment and amendments agreed upon by both parties: Contains data on the work schedule, budget and specifications; The entire transaction amount is put on hold under the employer’s account until the project begins.UMKA’s commission fee is 1% per transaction. All transaction commission receipts will be used for further service and support improvement.

FEATURES OF UMKA PLATFORM

UMKA customers can assign specialists to project groups that can be moderated. Project budget can be specified for each group. A group chat is automatically created afterwards.

The UMKA Client’s Passport holds information about the client’s company and feedback from freelancers.

The UMKA app supports group chats, meetups, and news feed for every professional community.

The UMKA Specialist’s Passport holds details about their areas of competence, advanced training, professional experience and qualifying examinations.

The UMKA experts participate in arbitration proceeding between clients and specialists.

UMKA is designed as a digital meeting point for professionals in various fields who can either perform a particular type of services or hire experts in the framework of the projects. With its interface, UMKA seeks to minimize the barriers that most freelancers and employers face in finding projects as well as hiring professionals who are qualified to perform a particular work.

UMKA proposes an active labor market policy. This includes job search assistance, integrated training courses as well as legal support in terms of contracts conclusion. In order to enable effective interactions, two types of community groups will be created, refereed as project groups created by freelancers, and independent experts. Employers in turn can easily contact any professional they are willing to employ for a project.

How UMKA Works?

UMKA offers employers a selection from dozens of thousands of freelancers with the required competency levels recorded in their electronic passports. UMKA provides freelancers with access to thousands of projects, vacancies, testing systems with a self-control function, and training programs from the world’s leading educational institutions. UMKA does not only offer a job search. It is a smart system that makes possible for employers to set the precise requirements for freelancers while freelancers are able to build competencies following the market trends.

The services of the educational institutions integrated into UMKA offer competence-raising opportunities for internationally certified online courses from the world’s leading universities. Once a course is completed, it is reflected in the electronic passports giving freelancers a competitive advantage in the search for jobs and projects.

Advantages of the UMKA Project

There is no transaction cost in the sense it’s used in other blockchains. There are no “miners”, whose work has to be paid by users who want to make a transaction. In EOS, there are block makers, who are rewarded for their work by the network.

All transaction within the service are done via the internal Umka Wallet using smart contract assets. In order to start working with the service, users need to create a personal wallet and recharge it using a debit or credit card, PayPal or a cryptocurrency wallet.

UMKA takes a 1% commission from the transaction’s amount which is withheld from the employer’s funds.
UMK is the security token of the UMKA platform. The UMK token guarantees participation in the distribution of the platform’s revenue. The token balance will be shown in the user’s wallet, and rewards will be accumulated proportional to the amount of tokens.

TOKEN AND ICO DETAILS

Ticker: UMK

Type: Token (Ethereum)

ICO Token Price: 1 UMK = 0.1 USD

Fundraising Goal: 10,000,000 USD

Total Tokens : 180,000,000

Accepts: ETH, BTC

Token Sale Plan

Public ICO started on June 1, 2018 and will end on August 1, 2018.

The UMK token is an ERC20 token issued on the Ethereum blockchain. UMK is a security token. It gives its proprietor the right to seek after their venture interests. At the initial stage, the platform will accept BTC and ETH as a means of payment. Seven more cryptocurrencies alongside fiat assets will be added for the fourth quarter of 2018.

Token distribution and Investment Distribution