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Russia’s Alfa-Bank Offers a Blockchain App for Freelancers

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Earlier today, December 1st, one of the largest Russian private commercial banks, Alfa-Bank, announced a blockchain-based platform for freelancers. The announcement says that the bank would use blockchain apps to automate services for self-employed and online workers.

What does the new platform offer?

With the COVID-19 pandemic still spreading strongly across the world, this summer’s brief attempt at the return to normalcy is quickly being withdrawn. People around the globe are returning to isolation and remote work, and the number of freelance workers continues to surge, as traditional businesses shut down or opt to lay down their employees.

At the same time, cryptocurrency payments are growing, as well. Russian Alfa-Bank found this to be a good opportunity to launch a blockchain-based platform for freelancers, which would cover the process of registration and remuneration for freelancers and self-employed people.

That also includes settlements, income registration, and even tax payments. With the immutable and transparent blockchain technology, these processes would be significantly easier and faster for everyone.

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Alfa-Bank’s Denis Dodon, who works as the director of its research and development center, noted that the new service would allow freelancers to get direct remuneration with any bank.

A platform for freelancers, taxi drivers, repairmen, and others

According to what is known, the new platform would actually consist of two apps — individual-oriented My Income, and enterprise-focused Alfa.Corporate. With the platform being built on the Waves blockchain, it would ensure safe data exchange between banks and businesses, and with all other benefits of the blockchain technology.

In fact, Waves Enterprise is acting as the bank’s primary tool for achieving BaaS (Bank-as-a-Service), according to Waves’ CCO, Igor Kuzmichev. He also added that the service will also be available to all kinds of private professions, including cleaning and repair services, taxi drivers, tutors, and others.

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