Blockchain technology is becoming de-facto for adding trust and transparency to existing products and businesses and one of the company Effective Energy is working on a project ALEHUB to add trust and transparency to the project management industry.
ALE (Automatic Labor Exchange) HUB project that is in initial phase of its ICO is raising funds to build a blockchain based solution to support its project management platform. The project allows enterprise and businesses to hire freelancers, verify their work, manage tasks, reports, communication, and payments. Project managers can use the platform to find contractors and hire them for their work.
As defined on the website:
ALEHUB – is a platform for the IT industry for project management and contractors search. ALEHUB combines the advantages of distributed registry systems (blockchain) and classic project management services. The selection of contractors (customers and executors), their work management, control and mutual settlements are regulated by multilateral smart contracts of the ALE system, which ensure the safety, reliability and low costs of outsourcing IT professionals.
ALE based on Hong Kong, is a collaborative effort by two companies, Effective Energy LLC and Serokell.
ALEHUB has a security token, ALE, that will be used on the platform to duel the work. Currently, ALEHUB is in pre-ICO stage that expected to do a public ICO on July 25 of this year.
Defined in the whitepaper, ALE HUB system is a tool designed to provide a convenient environment for searching and approving contract partners, their formal and practical competencies, formalizing terms of fulfillment of certain stages and the whole contract, adapting the contract terms and contracting parties to changing external and internal conditions by agreement of the parties or due to specific scenarios of the over- contractual consensus of large groups of the professionals; computerizing execution of the approved algorithms for reservation, payment, compensation and profit sharing.
From a company blog:
ALEHUB project is a more specialized solution aimed at decentralizing and democratizing the freelance industry. Using blockchain provides independence from actions of central server and increases sustainability of the system. Some of the core features of ALEHUB includes secure chat, members and accounts management, and settlement between parties.
Confidential blockchains shared by parties of contract appear to be a serious advantage of the system. Access to the project data (documents, additional treaties, chats, files, source code, etc.) is allowed only for those parties who actually need that information to fulfill contract terms. The protection against denial of obligation is performed using blockchain which reminds of key feature of system Corda.
