lok leverages blockchain technology to connect employers and workers across the globe, simplify and shorten the complexities of payments, and ensure transparency and trust amongst groups. The Blok platform uses smart contracts to eliminate friction in terms of time, cost, quality, and transparency in matching workers and companies. Blok seeks to empower workers and companies in the gig economy to efficiently optimize how they reach their goals, setting them up for sustained success.
BLK token is the main medium of transactions on the Blok platform, facilitating payment for finished gigs to the contractors. Blok abstracts away the complexities of paying contractors in over 200 jurisdictions with numerous payment systems by putting all payments on the Blok platform through Blok tokens (BLK). Blok tokens serve the utility purpose of being the only protocol-compliant way to determine, describe and process payments for gigs on the Blok protocol. Using tokens have advantages over fiat- or cryptocurrency of being locale- and payment-method-independent, as well as being specific blockchain-independent (in the future, Blok protocol may be moved off the Ethereum blockchain without losing balances of any of the tokenholders).
In order to post a valid offer to the blockchain, a company is supposed to escrow a necessary amount of BLK tokens within the gig’s smart contract. BLK tokens, in this case, can be acquired during Blok’s token generation event, received (donated or bought) from the existing token holders, or extracted from the contractors by exchanging their earned BLK tokens into fiat by paying them off-chain
The Blok token generation event and the corresponding crowdsale will be organized by Blok Inc., a Cayman Islands exempt company, and will be organized around smart contracts running on Ethereum. Participants willing to support the development of the Blok project can do so by sending Ether currency to the designated address, after being properly whitelisted by going through a KYC/AML process. By doing so, they are purchasing Blok
tokens (BLK) which are sent instantly to their wallet.
The Blok token will be an Ethereum-based token of value. The token is a digital asset, bearing value by itself based on its underlying assets, properties and/or associated rights. Ethereum-based tokens rely on a well-established Ethereum infrastructure, benefitting fromseveral advantages:
● Security and predictability (as opposed to running on a less secure blockchain or writing blockchain infrastructure from scratch)
● Use of robust and well-supported clients (most Ethereum clients can support Ethereum-based tokens and any transactions with them)
● High liquidity (interchangeable with other Ethereum-based tokens or Ether), easier
listing on exchanges with infrastructure already in place
The Blok token generation event and the corresponding crowdsale will be organized by Blok Inc., a Cayman Islands exempt company, and will be organized around smart contracts running on Ethereum. Participants willing to support the development of the Blok project can do so by sending Ether currency to the designated address, after being properly whitelisted by going through a KYC/AML process. By doing so, they are purchasing Blok tokens (BLK) which are sent instantly to their wallet.
Blok idea is created within the Lutrovnik R&D consultancy through working with gig economy companies and observing their operating processes and unsolved needs.
Assembling the team, pre-ICO
Assembling majority of the international team behind Blok, developing the concepts of operation of the Blok protocol, doing the private token sales and pre-ICO.
ICO, protocol development
Acquiring funds for the further development from an ICO, finalizing the open protocol and acquiring first customers to implement the protocol with.
Client apps launch
Launching minimum viable products for browsing, managing and getting paid through the web, phone and tablet apps for blokpreneurs.
Partner integrations, scaling up
Integrating with a significant amount of gig economy companies, iterating and improving on the official client apps and core protocol.
Fulfilling the promise of Blok of enabling blokpreneurs all over the world to join the gig economy, expanding in different markets and industries, developing innovative products to foster gig economy growth.
Price in ICO1 ETH = 5700 BLO
Tokens Distribution65% - sold during the initial token offering, in several stages
18% - a reserve to sell to the companies in cases when the open market cannot satisfy given company’s immediate
13% - to the team, advisors and early contributors
4% - community and partners as part of the bounty program, referral programs, community events and partnerships