Problem:

Centralization: finance and data are accumulated and managed by a single entity. Plat-form regulations, the amounts of fees and commissions, and the system’s technical parameters may be amended without the con-sent of the users.

No guarantee of timely payment and proper work performance.

High commission fees. Commission fees on the freelance platform market currently range between 2.7% and 20% of the transaction amount.

Emergence of disputed situations that can not be solved by the two parties involved. Need for third party involvement in the dispute settlement.

Low speed. All the existing decentralized solutions are based on the slow and expensive Ethereum blockchain. Ethereum’s global throughput capacity is 7 tps while the cost of a smart contract transaction is upwards of $2 USD.

Freelancer platforms offer no teamwork opportunities.

Poor integration of freelancers with the professional community. Freelancers almost never face the information gap; on the contrary,there is abundant information that is extremely difficult to digest, just as it is difficult to put a finger on adequate market prices or professional tendencies and trends.

Lack of communication within the ­market.Freelancers are not aware of the most sought after careers; employers can’t find freelancers with the required skill sets. Educational institutions have no communication with potential employers and do not know what to instruct their students in and this is a global problem, crucial at the highest levels, that still lacks an effective technological solution.

Solution:

UMKA is a 100% decentralized user-managed system. All data on transactions, ratings and key user data are stored on the blockchain.

An Agile Smart Contract that allows stage-by-stage payment and amendments agreed upon by both parties:

  • Contains data on the work schedule, budget and specifications;
  • The entire transaction amount is put on hold under the employer’s account until the project begins;
  • Contract amendments can be introduced and recorded in the blockchain with the consent of both parties;
  • If one of the parties fails to meet the agreements,the other party does not incur any financial losses.

There are two ways of settling disputes: with no third party involved or with the involvement of UMKA arbitrator from among Experts. For details see “Dispute Resolution”.

A blockchain with fast and inexpensive smart contracts based on the DPOS consensus mechanism (with the rate of 20,000 tps). In order to make transactions cheaper and speed up the network,UMKA will be using assets for fiat and cryptocurrencies.

The platform has created a unique opportunity to bring freelancers together in project teams,moderated by the employer. In the team, the employer sees the total budget of his/her project, which he/she can manage. A general chat room is established for tackling team tasks.

For each freelancer category, UMKA creates professional chat boards for freelancers to communicate with each other, learn news, share experience, and network.

Employers establish requirements for freelancers which UMKA then analyzes. This information will be accessible to educational institutions and freelancers. The latter will be able to acquire the required skills promptly and get a confirmation entry in their electronic passports. Educational institutions acquire access to data on employer requirements and the number of potential students to be used as the basis for developing their educational programs and online courses.

What is UMKA? What does it do?

UMKA is an efficient project implementation and a team-building tool based on the blockchain technology. UMKA means financial safety for all users: all platform transactions use agile smart contracts based on blockchain technology. Secure deals are done using the customize able Agile Smart Contract methodology based on the EOS blockchain. AgileSC offers an opportunity for stage-by-stage project payments and agreed-upon amendments while guaranteeing efficiency and convenience for all parties involved. Freelancers can work on their own or in project groups, and can be paid in 15 cryptocurrencies as well as fiat currencies. UMKA takes a 1% commission from all smart contract transactions within the platform. Funds, gathered this way will be distributed among UMK token holders automatically.

UMKA is a comfortable space for cooperation between employers and  freelancers that offers a wide array of useful tools integrated into its system;

  • 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;
  • digital passport contains user’s data. The data is stored on the blockchain. The digital passport contains all the information about 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;

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 offers employers a selection from dozens of thousands of freelancers with the required
competence levels recorded in their electronic passports. UMKA provides freelancers with access to thousands of projects, vacancies, testing systems with a self-control function, and training programs from the world’s leading educational institutions.
UMKA does not only offer a job search. It is a smart system that makes possible for employers to set the precise requirements for freelancers while freelancers are able to build competences following the market trends. The services of the educational institutions integrated into UMKA offer competence-raising opportunities of internationally certified online courses from the world’s leading universities. Once a course is completed, it is reflected in the electronic passports giving freelancers a competitive advantage in the search for jobs and projects.Employers don’t need to limit themselves by one freelancer: UMKA allows setting up project teams with a group chat for all participants. An employer manages a project budget using AgileSC per arrangements made with each freelancer. UMKA means financial safety for all users: all platform transactions use agile smart contracts based on blockchain technology. AgileSC offers an opportunity for stage-by-stage project payments and
agreed upon amendments while guaranteeing efficiency and convenience for all parties involved.

A high-performance blockchain with turing-complete and flexible smart contracts (AgileSC) along with the Byzantine fault-tolerant (BFT) Delegated Proof of Stake (DPoS) consensus algorithm based on EOS.IO

UMKA is a comfortable space for cooperation between employers and  freelancers 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 about user’s skills and qualifications, his/her workexperience 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 arise on the platform. The Arbiter is another kind of UMKA system user, a disinterested party with a sufficient rating on the platform;
  • 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;
  • GNMT — Google Neural Machine Translation integrated in UMKA’s chat engine to help users from different countries communicate freely;
  • project groups are for cooperation with groups of freelancers;
  • integrated  free 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;
  • 1% commission from all transactions within the platform. It is the lowest commision on the freelance platform market to date;
  • The UMK token guarantees participation in the distribution of the platform’s revenue. The token balance will be shown in the user’s wallet, and rewards will be accumulated proportional to the amount of tokens;
  • Bonuses are additional tokens given to the investor besides the purchased tokens as long as the investor has purchased a certain minimal amount;
  • Holding a number of Hackathons to attract employers, developers and mentors. UMKA partners will have the opportunity to define the topics of Hackathons.
  • Certificate of Incorporation – UMKA Planet Corp. is incorporated in the Republic of Seychelles as an International Business Company on the 17th day of April 2018;
  • A full package of legal documents: https://umka.city/documents/.

ICO Review and Analysis

Website Domain
  • https://umka.city/
  • Project based on EOS Blockchain
  • Freelance and Blockchain
  • User interface like such good
Status
Agile Smart Contract

Agile is a flexible methodology based on the principles of an interactive approach to product creation and development. An Agile Smart Contract (AgileSC) is a new generation smart contract that allows dividing a transaction into any number of milestones and iterations as well as for splitting them into three parameters:

  • Work
  • Time
  • Budget

Agile Smart Contract ensures the possibility of amending each of the three parameters with the consent of both parties. For example, if a freelancer requests an amendment of the Time parameter (pushing the deadline back) and an employer confirms this action, the new amendment is introduced in the blockchain and must be effected upon attainment of the new deadline.

AgileSC remains a guarantor of a safe transaction because the third party may not amend an implement-
ed contract. The whole contract amendment history is stored in the blockchain and accessible to all users.

The system allows for the supervision of stage-by-stage project progress, simplifies order deadline monitoring, assists in disputes settlement without the third party involvement, and automatically remits the remuneration to the freelancer if the employer is satisfied with the deliverable.

Agile Smart Contracts with recommended iterations and milestones are generated for each type of project and service offered by UMKA freelancers. It makes easier for the users to operate the system: in most cases they just need to enter the budget to have such a contract approved. Operations with templates take into account the opinions of experts as well as the experienced professionals from various fields who have a clear understanding of how working with telecommuters should be organized.

Roadmap

Partner

           

 

ICO Token & Economics
Token Name UMKA
Token Form ERC20
Hard Cap $1,000,000
Soft Cap $9,998,999
Total Token Supply 180,000,000 UMKA

99,000,000 UMKA (for-sale)

Contribution Mode BTC, ETH
Pre-Sale 01 May 2018- 31 May 2018

($0.1= 1UMK)

Crowd-Sale 01 June 2018- 01 Aug 2018

($0.1= 1UMK)

Country Seychelles
Platform Ethereum, EOS

 

Revenue from UMK tokens for investors:

The revenue of the platform from transactions (1% of the total amount) will be distributed between all issued tokens. Token holders will be rewarded according to the following formula;
T1= Σc x C x 0.01           
TΣ
where;
T1–  income from one token
Σc- average transaction size
TΣ  – the amount of tokens a holder owns
C- numbers of transactions   
Token Allocation

 

 

 

 

 

 

 

 

Fund Utilization

 

 

 

 

 

 

 

 

 

 

Wrapping up;

A good interchange scheme by suggesting a diversity of comfort, convenience, conveniences and under expenses than other exchanges will build a tight competition in the stock exchanges for crypto player. This is a unique idea that team representing and the team have shown rapid progress through product development. It is an efficient project implementation and a team-building tool based on the blockchain technology. Good luck UMKA and his team I support u. I expect this idea go up well and ideally! I hope this project grows well and ideally!

Media

Important Links

Website, Whitepaper, Facebook, Telegram, Twitter, Instagram, Reddit, Medium, Github, Linkedin

 

Leave a comment

What We Do?

हम(cryptodemystified.in) क्रिप्टोकरेंसी समाचार और निवेश रणनीति संदर्शिका पेश करते है। ब्लॉकचैन प्रौद्योगिकी, क्रिप्टो-ट्रेडिंग, क्रिप्टो-खनन, ICO आदि के बारे में आवश्यक चीज़े यहाँ प्रकाशित होगी।

CryptoDemystified विभिन्न क्षेत्रों को महत्वपूर्ण रूप से आकर्षित करनेवाली ब्लॉकचैन प्रौद्योगिकी के प्रति लोगों की जागरूकता बढ़ाने के लक्ष्य पर है। सहयोग के लिए धन्यवाद।

Protected By

 

Share Your Love ?

CryptoDemystified © 2018. All rights reserved.

My Newsletter

Sign Up For Updates & Newsletters