Power Up for the Gig Economy

by

David Chin

Co-Founder & CEO at Thor

San Francisco, December 28, 2017—I’ve been following blockchain technology since the dawn of Bitcoin in 2008. Much like the internet back in the early days, blockchain’s success will be measured by adoption and usage.

To bring the full power of blockchain to the masses, companies must provide solutions that address everyday challenges.

I take Uber and Lyft rides almost daily and have been listening to the growing amount of complaints in the contractor ecosystem. The contractor workforce is large and growing. According to a May 2017 CNN article, the gig economy represents 34% of the US workforce, projected to grow to 43% by 2020. Currently, power resides exclusively with the contractor companies. They can change business models, design new pay and incentive structures rapidly, but the contractor’s overhead (rent, childcare, etc.) remains the same or increases.

Benefits and services available to contractors are varied, fragmented, incomplete or nonexistent.

Enter Thor — a payment and benefits systems that enables gig workers to get paid faster, find more work and get health and retirement planning benefits not currently available.

As an active volunteer, giving back is core to who I am. Having lived for years in San Francisco, I’ve had the unique opportunity to learn about revolutionary technologies (like blockchain) as they are being created. So naturally, I’ve been passionately exploring how we can extend new technologies to help the less fortunate.

We at Thor are excited to be addressing the needs of this large and growing sector of the economy. We will be sharing our tools, services, solutions and company in the days to come.

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