The 1960s saw a paradigm shift in the way professionals charged their time to clients and customers. From a per-day basis, consultants and experts moved to hourly chargeability, which was then adopted by consulting and law firms as a standard across the world. For the last five decades, the same concept of chargeability has been adopted by the service sector including the popular Information technology and consulting companies. In absence of a very strong tracking mechanism, there have been cases of mistrust between clients and firms, which have led to termination of long term contracts and direct impact to income for both professionals and companies. Even Hollywood noticed the phenomena and created movies like “The Firm” which have highlighted the malpractices used by a law firm overcharging hours on clients bills. Such practices, followed by a few, created a negative image for professionals globally and leads to creation for stereotypes for the highly capable intellectuals involved in professions like law, business consulting, advertising etc.
MIN is creating an ecosystem to solve this problem which creates mistrust and affects the income of professionals and companies alike. With a tokenized way of charging their time, professionals and experts of all variety will be able to charge their time in a flexible, transparent and fair system. Moving to a per minute system, MIN will eliminate the worst elements of the consulting and freelancing landscape. Not only will the system become fully transparent between clients and consultants but also lead to long term reliable business relationships. Professionals will not have to justify their work for each hour, and rounding-off to the nearest hour will be stopped. Also, professionals will get a chance to monetize their idle time, especially short spans of 10-20 minutes, which were previously wasted. Apart from changing the traditional means of chargeability, MIN will also provide an additional opportunity to online businesses, which can now reward users for spending time on their websites. Social media websites will stand to gain the most by using such a feature as they will now be able to reward basis their engagement levels. Thirtymin provides a readymade use case for MIN tokens. It is a fully working solution which makes people meet globally so that they can create opportunities and collaborate to get their tasks done in an efficient and effective way. In order to know more about MIN tokens you can visit their website here.
For better understanding of the technicalities and overall working of the project you can also read the whitepaper.
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