UMKA: A DECENTRALIZED LABOR MARKETPLACE

INTRODUCTION
With the current astronomical growth of freelancing globally, the ability of individuals to choose their own job, type of project they work on and flexibility in working hours has been the major driving force. With all the opportunities in the freelance economy, participants of this great markets should be enjoying its benefits of this great market. But unfortunately, this is not so. Today, freelancers are often overworked, under-valued and forced to compete with low quality task with minimum rewards by middlemen who has made the freelancing market unconducive. This is because online middlemen freelancing and jobs marketplace exploit freelancers of their payment exorbitant outsourcing fees and commissions. Presently, with thousands of online of online platforms for outsourcing work for freelancers globally. The inability to simply match the right freelancer to the right job is another major concern. This is largely due to the fact that most outsourcing marketplace are interested in increasing their revenues and profits of their respective shareholders by exploiting freelancers through outsourcing fees and commissions on jobs performed. UMKA, a decentralized labor marketplace that will minimize transaction cost, increase transparency by eliminating middlemen and agents through its decentralized peer to peer network where freelancers(employee) can communicate directly with the organization or individual giving the task.

ABOUT UMKA
The vision is not just to create a job search platform but also the create an ecosystem that mutually benefits the employees and freelancers by allowing employers to set precise requirements for freelancers while freelancers will also be able to build their portfolio by performing these tasks and training programs available in the UMKA ecosystem. To actualize this vision and also In order to achieve one of UMKA’s goal of creating an expert community and also give these experts the best environment for work, education and personal development. Unlike most blockchain projects that uses etherum blockchain UMKA is built on fast, new and more effective EOS blockchain. Another notable feature of UMKA is that it has its own smart contract the "Agile smart contract". The agile smart contract is unique in the sense that it breaks work into iteration and smaller units thereby minimizing risks for both freelancer and employer unlike traditional smart contracts.

BENEFITS OF UMKA AS LABOUR MARKETPLACE
To ease the works of employers when sourcing for freelancers. UMKA stores the data of each user on blockchain presented as a digital passport. This digital passport is unique to every user as it contains information such as education, skills and previous work experience and reputation of such freelancer on the UMKA platform. This digital passport will allow the employer to easily identity the right freelancer to employ for the task at hand, thereby creating an efficient ecosystem where freelancers capable of achieving a task are considered for the job. UMKA will be a global ecosystem connecting different individuals from every corner of the world. Therefore to ease communication, Google Neutral Machine Translation (GNMT) is integrated into UMKA’s chat engine to ease communication from different users across the world. Another notable feature of UMKA decentralized labor marketplace is it focuses on its community development by allowing it’s users to learn continuously online from worlds leading universities that will be incorporated into the UMKA platform. This will help in improving the competence levels of freelancers. A global ecosystem for labor the employers will be able to select from a pool of freelancers on UMKA. Thereby giving the employer a chance to select base on competence levels recorded in freelancers passport. With the abundant resources that will be available on UMKA freelancer can decide on which project they want to work on because there will be thousands of them to choose from.

COMPETITIVE ADVANTAGE OF UMKA OVER OTHER PROJECTS
The competitive advantage of UMKA over other blockchain project trying to provide the same solution is huge. To discuss few from this many advantages include the use of Agile smart contracts developed by the UMKA team which is unlike any traditional blockchain smart contract. The Agile smart contract will break projects into smaller units and set up milestone based on parameters such as time, work and budget. Also, most blockchain projects usually have a unitary cryptocurrency but UMKA decentralized labor marketplace will accommodate 15 cryptocurrencies and fiat currencies with each currency represented by the corresponding asset on the blockchain.

The UMK Token
UMK token will be built on etherum blockchain and issued according to the ERC-20 token standards. The UMK token is a security and investment token that gives it’s holder the right to pursue their investments interest.
Token sale and distribution information
Token name: UMK
Total supply: 180,000,000
Price/UMK : $0.1
Soft cap: $1,000,000
Hard cap: $10,000,000