BlockWRK, smart contract-powered employee management, and retention solution provider has announced the launch of its blockchain-powered employee rewards app and Visa card.
BlockWRK, which also issues the federally-approved WRK token, will use the app to reward workers who complete daily goals related to employee health, safety, and job performance.
The collaboration with Visa will enable the awarded workers to redeem the WRK token in USD via a Visa debit card in real-time. They can also choose to retain them as tokens like in a savings account.
Speaking during the launch of the app, George Mylonakis, CEO and Founder of BlockWRK said;
Our app allows businesses to show workers their appreciation in a fair, honest, and transparent way, with smart contracts issuing instant rewards for meeting clear-cut targets. With this unique Visa card, claiming these rewards is easy and seamless. In future updates, we will expand its core functionality to turn BlockWRK into an innovative all-around HR-management tool.
About the app
The app, which has an in-built telehealth functionality, helps employees to deal with workplace stress and health hazards. It features a 24/7 mental-health support line, free for employees, enabling them to anonymously connect with a team of expert counselors.
It also rewards workers for completing daily safety checks to reduce workplace injuries and helps them diagnose any muscle or joint injury and access licensed orthopedic specialists via an AI-based symptom assessment tool.
The tool was originally aimed at workers engaged in fields involving manual labor, such as construction or warehouse, connecting them remotely with doctors and physical therapists.
It can also be used by any member of the employee’s family, including for sports or any other non-work-related injuries, and is available 24/7.
Apart from the health services, the app provides 0% APR payday advances to the employees. Workers can access up to $200 from their next paycheck for a flat fee of $5.
The role of smart contracts
BlockWRK uses smart-contract technology that enables businesses to encourage and incentivize employees to lead a more active and healthier lifestyle. Specifically, the smart contracts enable the app to automatically issue WRK tokens upon hitting their daily activity goals.
Also, employees can redeem accumulated WRK tokens in their account through a Visa debit card. Moreover, through smart contracts, employees can access up to $200 from the next paycheck for a flat fee of $5 without having to seek the expensive payday loans that charge employees APRs of up to 600%.
About the WRK token
The WRK token, which powers the app’s economy, is listed and tradeable on Bitmart.
Every company signing up with the BlockWRK ecosystem must acquire a balance of at least $10 worth of WRK for every employee every month and can buy more tokens to expand its reward program.
