The most up-to-date information about the UMKA project at the moment03.05.2018
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
- 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;
- secure contracts using the unique AgileSC (Agile Smart Contracts) technology. Secure contracts are useful for making milestone payments as they make easier managing difficult long-term projects. In case of unforeseen situations, both parties can use UMKA Arbitration system to solve the issue;
- arbitration system is a system for resolving the disputes that might arise on the platform.
- The Arbiter is another kind of UMKA system user, a disinterested party with a sufficient rating on the platform.
- project groups are for cooperation with groups of freelancers;
- GNMT — Google Neural Machine Translation integrated in UMKA’s chat engine to help users from different countries communicate freely;
- integrated online courses are a useful bonus for the users of the system that allows them to take online courses from world’s leading universities and learn new skills. The results are recorded in their digital passports;
- expert communities — communities and disputes that arise during the working process are moderated by the users of the platform. Users who have attained a certain rating can become Arbiters to participate in disputes, and also participate in the platform’s development by conveying the opinions of the masses.
One of UMKA’s goal is to form the expert communities and give them the best environment for work, education and personal development.
UMKA takes a 1% commission from all transactions within the platform. It is the lowest commission on the freelance platform market to date. Funds gathered this way will be distributed among UMK token holders.
Profit for investors
Ownership of UMK tokens gives holders the right to receive revenue from the platform’s fees. The revenue will grow in dependence to the amount of purchased tokens and the number of contracts concluded on the platform. Accumulated funds will be distributed daily between token holders. It is planned that tokens will be tradable on exchanges.
When is the sale?
The Company plans to start its crowdfunding in May 2018. The Company is planning to organize a private presale with a minimum investment amount of $1000 USD, where investors will be able to purchase UMK tokens and receive some bonus.
Where will the sale be carried out?
UMKA has chosen several jurisdictions, where representative offices will be registered. At the moment we are working with Gibraltar, Belarus, Honk Kong and Kyrgyzstan.
At the moment, before the crowd sale, the project has attracted $500,000 USD. It is planned to attract additional $500,000 USD during the private presale stage. The hard cap of the project is $10,000,000 USD.
Why have we chosen to fund the project this way?
The token sale was chosen because of the project’s use of cryptocurrencies and the blockchain technology, on which the system is based. Blockchain is necessary for the project since it provides secure and transparent transactions for the users of the UMKA platform. UMKA makes use of the so-called “Agile Smart Contracts” based on the EOS blockchain which allow for a flexible setup of contracts between users using milestones for the projects.
What is the team doing right now?
At the moment we are developing MVP for the mobile apps for Android and iOS, the web version of the platform and the AgileSC technology. We are working closely with advisors, and we have concluded forward contracts with investors and cryptocurrency exchanges. The project is getting ready for the private presale stage and the crowdsale.