Ryan Fyfe, co-founder, and CEO of WorkChain.io, expresses his thoughts on the changing digital world, blockchain and cryptocurrency. WorkChain.io is a groundbreaking cloud and blockchain rooted software company that seeks to embolden individuals, institutions, companies, and businesses by providing solutions that deliver secure work records that they can depend on. Specifically, WorkChain.io has a heavy focus on cryptocurrency and one of the areas they champion is in helping workers have more control over their money. By automating the steps from ‘work completed’ to ‘paycheck delivered’ their technology improves processing time and creates efficiency.
Fyfe is a self-described entrepreneur, investor, and blockchain enthusiast who is passionate about changing the way the world works.
He has over a decade of experience in web development and internet marketing with a keen interest in building cloud-based products for business. Fyfe was the founder and former CEO at Humanity.com as well as Shiftplanning.com, and his work has served the interests of more than half a million users across 87 countries. And he is a seasoned professional who has worked in all stages of web system development, e-marketing and application development.
Fyfe discusses the archaic system of payroll processing that he feels needs a complete revolution. He recounts many of the excuses that people give for not immediately converting to a real-time payroll system, such as responsibility issues of employees, to the idea that businesses need more time to manage their invoicing, expenses, and accounting.
Fyfe provides his insights into other crypto projects and the unified goal of decentralization as blockchain becomes more dominant in the marketplace. Fyfe’s mission is to further the validation process such that workers can be approved for the work they have done right away, which will allow employers to advance funds immediately. From a socially-conscious perspective, Fyfe hopes his methods will eventually phase out predatory lending companies such as check cashing stores that take an enormous percentage of workers’ paychecks.
The blockchain expert discusses various forms of cryptocurrency, from bitcoin to stablecoin, and the ways they can be implemented into systems. He explains how stablecoin is perhaps more appealing to some due to its dollar-backed system and low volatility. Fyfe delves into the trending issue of crypto-responsibility, in other words, is the workforce responsible enough to manage their funds within a new delivery system. He highlights the pros and cons that various minds have put forth in the ongoing debate, but Fyfe’s opinion is decidedly in favor of the workers’ right to have their payments when work is done so they can save it, invest it, or spend it—whatever they want, for, after all, they’ve earned it. Fyfe provides an overview of the general acceptance of these new methods of payment and delivery, and he outlines how businesses and governments of other countries and territories are embracing the system somewhat faster than those in the United States, which have demonstrated a level of reluctance.
The cryptocurrency enthusiast breaks down the steps that WorkChain.io’s solutions offer to employer and employee, and how smart contracts allow a sort of escrow type of relationship to flourish that delivers payment for services rendered, without delays. He muses about the many types of employer-employee contract work that can benefit from the system, from Uber drivers and other gig-based work, to shift work and beyond. As the technology is expanding and acceptance is growing, WorkChain.io is launching more preview products to continue opening the minds of skeptics, for as our digital world progresses, digital solutions to problems will become the norm.