THE NEW GIG ECONOMY & ITS UNDERSERVED DISTRIBUTED WORKERS
The Total is Greater than the Sum of the Parts
Our technology innovations leverage wireless financial transactions, artificial intelligence capabilities, as well as distributed ledger technology to address an unsolved, yet significant component of our new digital society: the “Gig” Economy (also referred to as the “On-Demand” Economy) and its millions underserved workers. Currently there are no commercially viable technology solutions available to support this rapidly increasing segment of our economy. Many of its participants do not even participate in basic benefits programs such as retirement plans, health insurance, etc.
End-to-End Services for the Gig Economy and its Underserved Workers.
End-to-end services are defined to include enrollment of gig workers and participants, activity management, benefits programs, and payments.
The “Gig / On-Demand” Economy
Our solutions allow for gig economy participants to voluntarily sign-up for previously unavailable benefits programs such as retirement plans, financial advice, assistance and counseling programs and other benefits.
WIRELESS FINANCIAL TRANSACTIONS FOR THE NEW GIG ECONOMY:
WE NOW HAVE THE TECHNOLOGY IN OUR HANDS TO ENABLE SOCIAL CHANGE. THE "AHA" MOMENT IS FINALLY HERE ..
This exclusive license spans all types of financial transactions using wireless devices. Due to the increased capabilities of these devices, many individuals are using their devices (e.g., cell phones, laptops, etc.) to store or access sensitive information (e.g., financial account information) or to access private networks (e.g., corporate networks). Financial transactions can include any type of goods and services, cash, and currencies exchanges or transfers, financially regulated securities products (e.g., stock, bonds, mutual funds, exchange traded funds/ETFs, IRAs, 401Ks retirement plans, insurance, etc.) and all new classes of digital assets (e.g., crypto currencies, stable value coins, non-fungible tokens, carbon credits, etc.). The wide-ranging use of these financial transactions can vary from the use of cell phone apps to the use of more conventional online-client server methods and topologies. In some instances, buyers and sellers may conduct financial transactions via intermediary communication network, such as the Internet, rather than cellular communication or they may connect to a website using enterprise software. Financial transactions can include the buying, selling, trading, as well as all other functions and processes of the products/services involved (e.g., the administration, accounting, custody, etc.)
INNOVATION FOR THE GIG ECONOMY
GIG WORKER BENEFITS PROGRAM PLATFORM
Our technology innovation solution leverages distributed ledger technology to address an unsolved, yet significant component of our new digital society: the “Gig” Economy (also referred to as the “On-Demand” Economy) and its millions underserved workers. Currently there are no commercially viable technology solutions available to support this rapidly increasing segment of our economy. Many of its participants do not even participate in basic benefits programs such as retirement plans, health insurance, etc.
Market Opportunity
36% of U.S. workers join in the gig economy through either their primary or secondary jobs. It is estimated that gig worker's size, which covers independent or non-conventional workers, is 20% to 30% of the economically active population in the United States and Europe. Gallup estimates that 29% of all workers in the U.S. have an alternative work arrangement as their primary job. This includes a quarter of all full-time workers (24%) and half of all part-time workers (49%). Including multiple job holders, 36% have a gig work arrangement in some capacity. About one in three baby boomers have a primary job that is gig. Meanwhile, only about a quarter of millennials (26%) and Gen Xers (27%) have full-time or part-time alternative work arrangements.
Transformative societal and economic benefits
Our blockchain technology innovation solution could make a difference to people not only in the US but worldwide. The industries involved represents many $ trillions (e.g. $28.7 trillion in assets for retirement market alone) with $ billions of dollars lost in inefficiencies. The COVID-19 pandemic is, among other things, a massive experiment in the gig economy. The current health crisis is an extreme test of what it means to be a worker in the digital economy, and it will continue and even accelerate long after the pandemic. Gig workers have been adopted by a range of businesses, governments and not-for-profit groups.