I apologize if this question has been asked, but how are the tokens backed by real labor power?
Hello and thank you for your interest. A couple of answers from the FAQ:
Chronobank uses big and reputable labour hire/HR companies to guarantee the supply of labour hours that are issued, essentially creating an alternative to the traditional banks, which is much cheaper and more transparent.
Chronobank selects labour hire/recruitment and HR companies based on their credibility, size, and financial performance, among other factors. Please refer to our company selection methodology in our business description document, available on our website.
Initial list of companies who agreed to issue LH tokens:
Anderson Recruitment and Training Pty Ltd
http://www.andersonrecruitment.com.au[email protected]Host Group/Host Labour Hire
[email protected][email protected]AES Labour Hire Pty Ltd
http://www.aesau.com.au[email protected]Edway Labour Hire
http://www.edwaylabourhire.com.au[email protected]TIME tokens (available in the crowd-sale) are used to finance the development of the system. It will receive fees from LH issuance and transactions. We plan to introduce voting based on a number of TIME tokens voters hold at a later stage of the project.