Chronobank to Use Emercoin Solutions

News and Analysis

Chronobank, a project powered by Australia-based recruiting company Edway, will employ Emercoin solutions for further development, the project’s official blog post reads.

Chronobank, which is currently having an ICO, with around $3 million already raised, seeks to change the industry of personnel recruitment. The project focuses on e-commerce, cleaning services, warehousing, industrial applications, construction, and various forms of freelance jobs. The project’s partner, Emercoin, is not just a popular cryptocurrency but a multifunctional tool enabling users to exchange money and valuable data at any time.

Chronobank intends to use the following Emercoin services:

  1. emcSSL, which is a blockchain-based system for password-free authentication, and an extension for standard SSL protocol. It enables one to store digital fingerprints of certificates in a blockchain, authorizes users, and makes access to remote websites safe and secure.
  2. emcSSH, which is also a blockchain-based technology focused on tackling network security issues. It’s applicable in deployment and management of global-scale open keys infrastructure (an extension for standard PKI.) The solution makes network administration safer thanks to storing public keys and access control lists in a blockchain. It also completely eliminates possibility of a distributed attack while solving the problem of a ‘single administrator.’ The solution’s applicability covers secure corporate networks of various levels.
  3. emcDNS, which is a decentralized system for domain names, and a service for creating ultrasafe networks. Blockchain-based DNS allows one to bypass any blockages and DDoS attacks on the web.

Chronobank will also switch to EMC cryptocurrency to fund various projects supporting and developing the former. Emercoin specialists will be advising Chronobank on using advanced financial tools.

“Chronobank recognizes Emercoin’s invaluable contribution in the development of blockchain technologies. In the future, blockchain will underlie numerous new applications. We’re confident that Emercoin’s expertise and capabilities will take Chronobank to the next level,” Chronobank CEO Sergei Sergienko commented.

Last month, Hashcoins, a project offering a blockchain-based service for accounting vehicles to make the work of involved state departments more efficient, also announced its partnership with Emercoin.

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