The intersection of artificial intelligence and blockchain technology continues to spark innovation, sometimes in unexpected ways. What happens when talent from a leading AI research lab turns their focus to cryptocurrency? That’s the story behind Volante Chain, a new venture shaking up the world of crypto payroll.
Why a Former OpenAI Expert Pivoted to Crypto Payroll
Joey Bertschler, who previously worked at OpenAI, has stepped into the fintech space with a novel idea. His motivation wasn’t just about building a new product; it stemmed from a fundamental shift in perspective.
Bertschler’s time at OpenAI reportedly led to disillusionment. Factors contributing to this shift included:
- Concerns about the company’s internal culture.
- Limited opportunities for staff located outside the United States.
This experience prompted him to seek a new path, one that ultimately led him to leverage his tech background to address real-world financial challenges through blockchain payroll.
Understanding Volante Chain: Blockchain Payroll in Action
Volante Chain is designed as a blockchain-based platform aimed at transforming how employees receive their wages. The core promise is faster access to earned income compared to traditional bi-weekly or monthly cycles.
Key aspects of the Volante Chain platform include:
- Blockchain Foundation: Utilizing distributed ledger technology to ensure transparency and security in payment processing.
- Daily Wage Access: Enabling workers to access their earned pay on a same-day basis, providing greater financial flexibility.
- Risk Assessment: Employing technology to evaluate employer risk, potentially ensuring more reliable payments.
This approach aims to solve liquidity issues for employees and offer businesses a modern payment infrastructure.
The Role of AI in Crypto Payroll
Interestingly, while the founder comes from the AI world and the core is blockchain, Volante Chain integrates both technologies. The platform reportedly uses AI, particularly for assessing employer risk. This demonstrates how expertise from the AI industry can be applied to enhance financial systems built on blockchain.
The application of AI in crypto payroll could involve analyzing various data points to predict an employer’s ability to meet payroll obligations, adding a layer of confidence to the system.
Getting Paid Daily: The Promise of Daily Crypto Pay
One of the most compelling features of Volante Chain is the prospect of daily crypto pay. For many workers, waiting two weeks or a month for their salary can be a significant burden, especially in managing unexpected expenses.
By facilitating access to earned wages daily, Volante Chain aims to improve financial well-being and reduce the need for high-interest short-term loans or other costly financial products. This feature is currently being tested in pilot programs.
Current Status and Funding
Volante Chain is currently in its testing phase, with initial users in Vietnam and Japan. These pilot programs will help refine the platform and gather real-world feedback before a wider rollout.
The startup has also secured initial funding, raising $2 million from private investors. This capital is expected to support the company’s operations for the next five years, providing a solid runway for development and expansion without the immediate need for further fundraising.
Summary: A New Era for Payroll?
Joey Bertschler’s journey from OpenAI to launching Volante Chain highlights a growing trend: top talent from diverse tech fields recognizing the potential of blockchain and cryptocurrency to solve long-standing problems. Volante Chain’s focus on crypto payroll, offering features like daily wage access and leveraging both blockchain and AI, positions it as an interesting player in the evolving fintech landscape. As testing continues, it will be worth watching how this platform impacts traditional payroll systems and the broader adoption of crypto for everyday financial transactions.
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