Key features of the WorkQuest platform
Why Work Quest is the Ultimate Online Job MarketPlace?
Work Quest platform offers a decentralized process based on a smart contract, allowing real time platform access at the same time. Two participants can easily enter into a standardized agreement. This agreement will serve the purpose of acting as a guarantee of a safe transaction, considering that other parties cannot amend the contract once it was created. Both parties can instantly access contracts because they are all stored in a blockchain.
To promote transparency, Work Quest provides a fair rating system eliminating fraud cases or falsified information. Organizations and job seekers access track record before entering into a contract with the other party.
The payment option is simplified and done via the Work USD wallet (WUSD) using the Work Net smart contract. To start using the platform, users need to register and create a personal wallet. The mentioned wallet will refer to a desktop application that is compatible with Windows, macOS, and Linux, allowing affordable and fast transfers. To enable mobile transactions, users can use the Work USD Wallet Mobile, which is compatible with iOS and Android OS devices. That means that the platform is accessible from computers to mobile devices allowing individuals to carry out their searches even when they are on the go.
Work Quest Key Product Specification.
Work Quest platform has enhanced transparency and trust between employers and employees because companies can now verify the details and credentials of individuals before recruiting their workers. That means that companies will be able to get the best workers to suit their demands and job descriptions.
Ratings and Review System
Work Quest platform comes with outstanding ratings and reviews system to ensure that all participants are legit and reliable. Reviews and ratings help in breaking down and targeting messages to the millions of people seeking similar services. Hence, this will help company human resource management departments to come across professionals in varied fields seeking to be recruited.
Work quest has provided a bridge of trustworthy and progressive running since the employers have their own timely way of interviewing their employees. Both parties can make an agreement that will create trust and reliability between employer and employees.
It is the best method since it can break down communication as a whole and enable reaching different clients at employees’ and workers’ locations globally. In addition, this will boost the adoption of technology while at the same time minimize on the overall cost.
Smart contract based system
The smart contract specification will allow both parties to bind agreements because Work Quest platform operates on the Work Net blockchain. Work Quest features are the reason behind its future success. Firstly, the Work Quest platform increases the adoption of cryptocurrency across all industries, thus eliminating fiat currency limitations. Companies and organizations enjoy lower costs of recruiting employees. Keep in mind that it is free to register and create a company page.
Work Quest Other Unique Features
Work Quest market reach is global, unlike many online job marketplaces specific to a geographical enclosure. Therefore, anyone can access the platform as long as they have internet access and compatible devices, as indicated above.
User data is protected through blockchain technology, ensuring that the platform has high-level personal data encryption. Considering that the search process is location-based, it takes a short time to match what an individual is looking for in the market.
The platform upholds matters concerning security as all profiles, be it employer or employee, must undergo the Know your Customer (KYC) procedure. All data stored in the blockchain and decentralized oracles.
We also wanted to integrate best practices of the current labor market such as retirement savings program, insurance disability fund and pension fund which were successfully serving humanity for a long time. However, as we are experts in the decentralized finance field, there is a good opportunity now to connect old school with the new school thanks to the democratization of finance technology which is happening right now.
Work Quest DeFi features.
• P2P insurance — protection from the inability to perform worker’s main occupation.
The core idea of P2P insurance is that a set of like-minded people with mutual interests group their protection policies, introducing a sense of control, trust, and transparency while at the same time reducing costs. They create a pool of funds same as in the practice of the first trade unions. Workers unite together, create pool of funds and decide themselves case by case to cover the disability of its member or not.
• Retirement Savings Program
After completing the quests, each worker can use the retirement accumulation program. He chooses a percentage of the sum of completed smart contracts, which will be automatically deposited to his savings account, bringing compounded interest on the retirement savings account. The perfect technology to use in this case is DAO which already showed itself effective in many similar fields by democratizing management processes.
• Work USD (WUSD) Savings Product
After completing the work, Work USD (WUSD) can be locked on deposit for passive income. Users can block their Work USD to earn approximately 5% annual profit at the start. Exact figures may be decided in Work Quest DAO by its participants.
• WQT Liquidity Mining Program
Work Quest liquidity incentives program. Users receive WQT for providing liquidity on automated market maker (AMM) platforms such as Uniswap.
The Work Quest platform provides a reliable method of identifying and verifying employee skills and competence. This process is not just about what the employee or employer advertises, but also from personal ratings and reviews. All reviews are genuine and reliable. Thanks to a quick job search, users can search by geolocation to help narrow down a search. Also, this platform comes with a work USD in-built payment system that is fast and efficient. Even with the system payment advantage, it provides affordable fees for both parties.
Adding DeFi features and DAO principles (which will be described in the next articles) to the platform returns back control of the platform to its members and maximizing their returns on capital and hedging their disabilities and retirement with Retirement savings program and P2P disability fund.