Opolis, a new blockchain-based innovation promising to give users full control over their employment and employment benefits through the use of a new ‘Decentralized Employment Organization’ concept has announced its launch. The platform describes itself as the future of the world of work where people have full control over their employment.
What Opolis Wants to Solve
The problems that Opolis sets out to solve center around the issues that affect the three basic employment models that are most popular currently, namely regular employment, outsourced employment and freelancing. In the case of convention W2 employment, individuals are subject to arbitrary decisions by their employer which they have no say in. Such choices may include changing health care providers, job termination, and changes to employee benefits. Loss of the job leads to loss of all benefits which can leave people in a difficult situation.
In the case of outsourced employment, the Professional Employment Organisation (PEO) where the individual will be deployed is chosen by the PEO with no input from the prospective employee. Termination also results in loss of all attendant benefits, and the system has a single potential point of failure as well as a general lack of transparency.
With freelancers, the story is not much different as the reduced or absent benefits, self-reporting taxes, administrative hassles, complicated legal compliance framework, no access to workplace healthcare plan or 401k, and low purchasing power contribute to make the world of work a very daunting place. Despite the relative freedom of being “self-employed”, the lack of benefits that come with working for a larger organization can make it unattractive.
The fundamental problem is that there is currently no way to combine the freedom of working for oneself with the benefits and security of regular W2 employment with a large organization.
The solution proposed by Opolis is described as “a trustless protocol allowing individuals to have fully portable, democratically chosen employment & benefits through a decentralized employment organization (DEO).” A Decentralized Employment Organization gives individuals self-determined employment, portable benefits, and democratic decision making.
Through this solution the platform says, individuals, can assume the ability to control their employment. The employment will be entirely self-determined, borderless, completely portable, and it will come with benefits such as healthcare and 401k. The framework will allow individuals to work for a given number of companies simultaneously and receive a single paycheck.
Opolis makes use of something called a Public Utility Connection Market, where the ability to connect with work will be frictionless with extensive reach to opportunity. Under the framework, ownership of employee information will be sovereign with individuals having a portable employee file that they own and control by themselves. The possibilities offered by a DEO framework according to Opolis include easy integration of administrative trustee, efficiency tools, matching AI, prediction markets, and Pay-Per-Use Tech.
Other possibilities include fully portable employment, whereby no disruption is caused to employment or benefits when switching projects or jobs, and a crypto payroll which enables users to receive payment in any currency/token of their choice while remaining compliant with labor regulations. Other possibilities include universal basic income, which can be voted for by DEO members if they so wish, and borderless work which enables individuals to work on multiple projects globally and receive a single paycheck in their domestic jurisdiction.