teconomy

Inspiration

Let's start with a definition of the future of work, workplace, and workforce. These are becoming more common as part of the new normal. On a more detailed level, the evolution of remote working as a result of workplace transformation may be seen. We shall live in a hybrid society that accepts hybrid workplaces as we emerge from crises in the post-pandemic period. In this climate, the key to business success is to harness developing talent models to exploit the power of skilled labour across global boundaries (which used to be a constraint prior to the pandemic). Similarly, this has opened up a flood of options for gig workers and talents, including rural labour, to participate in corporate developments. The concept of full-time employment will grow even more gloomy in the coming years, as skill marketplaces pick up speed, boosting commoditization and fracturing work into jobs. Blockchain and associated technologies are surely one critical technology that will permit end-to-end working in this Future of Work. It's encouraging to see mature talks about blockchain technology's applications expand beyond the shadows of just one of them — cryptocurrency. Meta, as a company that creates virtual worlds, is focused on the internet's future. Blockchain and cryptocurrency, according to Wall Street Bank and Goldman Sachs, will be at the center of the digital and virtual worlds, allowing people to safely own digital objects across many virtual realms.

What it does

As part of timesheet milestone achievement, every agreed milestons entitles them to receive teconomy tokens which are saved on archieved on arweave via bundlr.Bundlr allows us to access permanent data storage with instant and guaranteed transaction finality. Our platform allow the user to login with teconomy account and access their multiple wallets including Polygon wallet.They can link multiple accounts from different network and they will have option of choosing their preferred account for compensation.Users will also have options of redeeming these tokens for currency of their choice in future.

The goal is to build a marketplace platform that links talent with more possibilities to change more lives, while also giving businesses the reach and speed they need. This concept is meant to go beyond the typical freelancing paradigm to include all types of skills and businesses. In a future where hybrid (physical + remote) models will be the new normal for organizations undergoing large-scale digital transformations, this platform powered by Bundlr Network, Arweave and Polygon blockchain will be vital to the success of numerous today's system integrators in remaining relevant and resilient. In such cases, blockchain could prove to be a godsend in terms of making smarter, data-driven talent selections. The outcomes of this study indicate the reality about employment in the aftermath of a pandemic. Some performance issues and unpleasant separations may have been avoided with thorough background checks, according to Marketplace users. Employers can verify employment history and qualifications, such as degrees and certificates, using blockchain-based technology. Employers can save a lot of time and money by implementing blockchain-based solutions to conduct background checks, check each referral, and better deal with information asymmetry.

Significant Characteristics

1. Global Business Footprint - Leveraging the power of TradFi and Defi through cryptocurrencies to efficiently manage cross-border and cross-currency business transactions.
2. Payment Workflow Efficiency - Seamless interaction with Payment Gateways and third-party systems provides a smooth process flow. Traditional methods are supported, as well as bitcoin transfers.
3. Strict compliance certifications and attestations, such as SOC 1 / SOC 2, HIPAA, the EU-US Privacy Shield, and DFARS, are required for secure transactions and data security.
4. Diverse Teams - Teams that are geographically diverse and operate 24 hours a day
5. Large-scale enterprise programme and project management

How we built it

The platform development methodology emphasizes automation and hyper productivity. We developed multiple workflows on the QuickBase low-code no-code platform, including modules for collecting payments, adding and validating beneficiaries, disbursing individual/mass payouts, wallet-to-wallet transfer, recurring payouts at defined intervals, escrow feature, and foreign exchange support, as well as additional project execution modules for the admin, originator, and work performers. Smart contracts enabled by blockchain are being used to formalize the stated rules for a variety of system functions. This is where blockchain technology may make a big impact, by serving as a trusted source of truth for all parties involved and providing a higher level of data protection for documents. To allow the aforementioned payment features - Collect, Disburse - Payment Gateway API endpoints are added into the application. Support for cryptocurrency has been critical in making a difference as a governance token for stakeholders. Financial crime is a threat to payment systems. Integrating blockchain as a major component of a solution provides much-needed openness and trust. In response to the fast rate of change in today's business environment, the low-code platform enables rapid adaptability and innovation. We were able to iterate on features more rapidly and productively thanks to our decision to employ low-code development, giving us the much-needed flexibility to expand, improve, and maintain business procedures. In order to fulfil market demand, this resulted in the construction of a platform for teconomy that is resilient on numerous levels - technology, operations, and experience. The Payment Gateway API is at the heart of the platform, and owing to the self-contained documentation on the Payment Gateway developer page, integration was a simple. Postman's endpoints allowed workflows to be tested in parallel.

Challenges we ran into

Integration issues with a low-code platform, the Polygon blockchain, the bundlr.network, and the Payment Gateway API endpoints. This prompted us to go outside the box, so we created another layer of abstraction, offering coarse-grained Payment Gateway API end points that correspond to the IBM cloud workflow needs.

Accomplishments that we're proud of

To answer the future needs of work, workforce, and workplace, an end-to-end marketplace platform is being developed. Larger businesses will be able to use teconomy as the backbone of their project executions, making the platform revolutionary for all stakeholders. The platform's integrated project management suites, for example, differentiate it from competitors and enable a one-stop shop for projects of any size. Additional payment requirements, such as cross-border payments and payouts, real-time global payment coverage via many channels, such as cards, bank transfers, e-wallets, and cash, as well as fundamental security and fraud protection, are necessitated by such a large-scale platform. All of this has been made possible by utilizing Payment Gateway functionality, smart contracts, and Bundlr's robust foundation. Project management capabilities include real-time visibility into progress, tasks, time sheets, expenses, and budgets, as well as a range of reports and dashboards. Blockchain enables a transparent future of employment. QuickBase's security posture has also been reinforced by securing severe compliance certifications and attestations, such as SOC 1 / SOC 2, HIPAA, EU-US Privacy Shield, and DFARS. teconomy integrates with Salesforce's service cloud to handle Escrow and rejected payments.

What we learned

1. We're thinking about how we can focus our efforts to address the most pressing challenges. With a post-pandemic approach, design thinking was used to prioritize challenges.
2. How can we use cross-technology stacks to offer speed and flexibility that is sorely needed?
3. Acquired in-depth knowledge of seamless and real-time cross-border, cross-currency payments.
4. How can localization help a business model scale?
5. Bundlr.network, arweave, and Polygon blockchains, cloud deployment, and integration patterns were all learned.
6. How can the power of a global technological element like Payment Gateway be used to solve problems that go beyond market share?
7. With proven platforms like Polygon, Bundlr.network, and Arweave, I learned how Payment Gateway APIs are constructed to answer a specific business need.

What's next for teconomy

Beyond developed usecases, blockchain's role in reshaping the future of work is growing. The future of voice and how teconomy could be integrated with voice ecosystem entities like Alexa, Google Home, and contact centre functionalities Integration with Twillio In order to develop the platform, industry experts submit comments on the gig economy market place.

Built With

• blockchain
• cryptocurrency
• node.js
• polygon
• quickbase