Hello, today we are going to take a look at very interesting ICO called UMKA and see what it is that makes it so interesting?

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What is UMKA?
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 such as:

  • digital passport;
  • secure contracts using the unique Agile Smart Contracts technology;
  • assets for fast work of smart contracts and financial security guaranty;
  • 15 cryptocurrencies and fiat currencies;
  • arbitration system;
  • project groups for cooperation with groups of freelancers;
  • GNMT — Google Neural Machine Translation integrated in UMKA’s chat;
  • free online courses from world’s leading universities;
    expert communities.
    Capabilities/Offers
    Now let’s take a look what UMKA offers for specialists, employers and educational institutions.

For Specialists:

  • Attractive freelance job opportunities
  • Payment guarantee
  • Professional communities
  • Digital passport
  • Online courses in world’s leading educational institutions

For Employers:

  • Professional integrity of freelancers guaranteed
  • Project groups [a way to coordinate the work of several freelancers
  • Search for freelancers made easy
  • Agile smart contracts for secure deals
  • Customized staff, freelancers’ databases

For Educational institutions:

  • Growth of demand for services
  • Feedback from labor market
  • Graduate employability
  • Sharing experiences

UMKA Functionality
Rating system

UMKA uses a fair and transparent statistical system that ensures there is no rating fraud or falsified feedback. Scores from one to five are awarded by the parties anonymously following completion of the transaction only. The Employer cannot see the Freelancer’s feedback unless he/she posts his/ her own feedback and vice versa. Freelancers’ and Employers’ feedback is accessible to all registered users. Be default, the order history in the profile also reflects some Agile Smart Contract data: what tasks, during what time and for what remuneration the Freelancer has completed. If desired, it is possible to conceal the cost of completed works and details of the tasks, but the feedback and scores cannot be concealed. This transparent rating system gives the parties an opportunity of a thorough review of each other’s track record before entering into a contract.

Payment

All transaction within the service are done via the internal Umka Wallet using smart contract assets. In order to start working with the service, users need to create a personal wallet and recharge it using a debit or credit card, PayPal or a cryptocurrency wallet. UMKA takes a 1% commission from the transaction’s amount which is withheld from the employer’s funds.

UMK Token

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.

Fee

The UMKA fee is 1% of the amount of all safe transactions on the part of the Employer. This small fee establishes confidence within the system and makes the service absolutely free for Freelancers acting as a guarantor of integrity of Employers. Funds will be distributed between UMK token holders automatically (when the bank reaches $150,000 USD or its equivalent in another currency). Revenue received from tokens belonging to the managed fund will be used for the support and development of the platform.

How Does it all works?
UMKA offers employers a selection from dozens of thousands of freelancers with the required competency 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 competencies following the market trends.

The services of the educational institutions integrated into UMKA offer competence-raising opportunities for 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.

Main Problems UMKA solves
1.Safe deal

Agile Smart Contracts: smart contracts that allow for progress payments and introduction of changes to contracts (with the consent of both parties)

2.Project groups

In UMKA employers can create project groups to organize the work of multiple freelancers working on a single task. There can be any number of freelancers in a project group. The employer signs an Agile smart contract with each of them individually

3.1% commission for transactions

The Platform takes a 1% commission for transactions.

4.Agile Smart Contracts

AgileSC is a unique technology developed by the UMKA team. They make it possible to break a project into iterations, set milestones and set them up by adjusting the three parameters: Time, Work and Budget. Using AgileSC minimizes risks for both employers and freelancers

5.EOS blockchain

A new generation EOS blockchain with fast and free smart contracts

6.GNMT in UMKA’s chats

In order to make communication between users easier, UMKA’s chats have the Google neural machine translation built in. Translation quality gets better with each passing day thanks to the neural machine translation mechanisms. Language pairs with the English language will be available for the users of the platform

7.15 cryptocurrency and fiat assets

On the UMKA platform, 15 cryptocurrencies and fiat currencies will be used. Every currency is represented by a corresponding asset in the blockchain, there are no transaction fees

Token distribution
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55% Sale

15% Bonuses

10% Team

10% Reserve

5% Bounty & Airdrop

5% Advisors

Token Symbol: UMK

Type: Token (Ethereum)

ICO Token Price: 1 UMK = 0.1 USD

Fundraising Goal: 10,000,000 USD

Total Tokens : 180,000,000

Know your customers (KYC) : Yes

Can’t participate: Seychelles

Accepts: ETH, BTC

Undistributed tokens will be controlled by the managing fund UMKA Foundation, they will also yield revenue in the form of a percentage from the platform’s revenue. They will be available for purchase by anyone at their market price.

Roadmap

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UMKA’s Team

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Official UMKA contacts:

WEBSITE | WHITEPAPER

Author’s BTT profile: https://bitcointalk.org/index.php?action=profile;u=1614962

#UMKA #cryptocurrency #freelance