Blockstack’s First Business App Wants to Help Employees Earn More Crypto via @coindesk

As reported by Coindesk, “If cryptocurrency is decentralizing the world of money, a new bitcoin wallet startup thinks it could also help decentralize the world of work.

“Revealed exclusively to CoinDesk, Misthos launched its multi-signature wallet Monday on top of Blockstack‘s decentralized application platform. One of the first enterprise products launched on Blockstack, the wallet is designed for project teams, investment partnerships and other ad hoc ventures to manage the divvying up of income (received as bitcoin) among their individual members.

“These organizations, which often form to carry out a specific objective before disbanding (more like a Hollywood production than a corporation), ‘want to have transparency into where their cash is going and want to be able to distribute their income in a fair way,’ Misthos founder Justin Carter told CoinDesk.

“To that end, all proposed payouts from a venture using a Misthos wallet must be approved unanimously by the partners in that venture. Carter described this model as ‘moving away from an employee-employer relationship to a group consensus about who contributed value.’

“In other words, instead of a getting paid according to a salary or contract negotiated before taking on a job, the individual is compensated based on social consensus among the team. Misthos makes its money by collecting a 1.49 percent cut of the payouts.

“Similarly, proposals to add partners are subject to approval by all the existing participants, and in order to kick one person out, everyone else in the group must agree to it. Several partnerships are already using Misthos to distribute bitcoin among members, including the four-person team behind Munich-based bitcoin publication Coin Trainer.”

Continue to read the full story at Coindesk.