Thursday, 16 July 2020

Russian Creates Cryptocurrency to Rent Out Own Labour on Waves Platform

It is the new ICO trend and it was due to happen sooner or later. Russian entrepreneur Boris Akimov is to become the first person to tokenise … himself.

Akimov is a farmer and the founder of LavkaLavka, an agricultural ecosystem linking farmers to households through its proprietary Biocoin token. Using the Waves platform, he plans to tokenise those skills as a means to rent out his labour. “The higher the demand for my skills,” he said, “the higher the value of the tokens.”


He plans to tokenise two days a week of his labour as a means for renting out his time, amounting to 832 hours per year, assuming an eight hour work day. Setting a token limit of four years, this represents a total of 3,328 hours, or 12 million seconds of time available. “So the plan is to create 12 million tokens,” he says, ” … each of which can be redeemed for a second of my time and skills!”

The idea of self-tokenisation has also been anticipated by arguably the world’s leading blockchain advocate Andreas Antonopolous who has suggested that, in the near future, children will also be issuing their own currencies as expressions of personality, loyalty and friendship.

Waves founder Sasha Ivanov approves of the idea, calling it an “ … interesting and innovative application of Waves and blockchain technology”, stating further that this offering is “no different to the diverse forms of value tokenisation used by [other] currencies.”

The idea of self-tokenisation appears to be taking off in Russia, with startup TokenStars offering sportspeople the chance to auto-ICO. Its ambassadors include footballers Giancarlo Zambrotta and Lothar Matthäus. TokenStars is currently in the middle of its own ICO, selling its TEAM token until the 8 March, and hopes to reach a $15 million hard cap.

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