HorusPay is a decentralized Global Payroll Portal that allows global entities to exchange private, encrypted, secured data with international payroll vendors using blockchain technology. Global payroll is a common headache for global entities. The current system is complex and faulty because it’s plagued by obscure laws and regulations, inefficient communications, and middlemen who strive to simplify global payroll, but complicate it further. When a company outsources payroll to a global payroll provider or aggregator, the entity experiences four common problems：1）Low quality vendors with high fees；2）Inefficient, error-prone communications；3）Slow international transactions 4) Security concerns. Many global payroll providers have been hacked. Horuspay is devoted to solve problems above.
Access HorusPay portal by holding Horus token: Horus token is a utility token. Owners of Horus token can access the HorusPay Global Payroll Portal to host and exchange payroll data. Each Horus token represents a single employee in a company. In turn, global entities should have an equal number of tokens and employees (e.g 500 employees and 500 tokens)—more employees warrant more payroll data hosted in the HorusPay Portal.
Payroll storage: Besides access to the portal, the Horus token grants the users an allocated amount of data storage on the network. For example, if a total of 1200 gigabytes of payroll storage is allocated to the network, the network will then guarantee 1 kilobyte of payroll storage per token holder when tokens are staked. Users will be able to lease their tokens to companies not wanting to make the lifetime investment or who only want to use our portal temporarily. An additional 100 gigabytes of data will be tradable in a Bancor protocol for those users who need additional data space.
HorusPay Payroll Vendor Access:Any payroll vendor can use the HorusPay Global Payroll Portal for free if they agree to accept Horus dollars as payment (from token holders) in exchange for payroll services. This requirement will only be enforced in countries with Horus dollar liquidity.
Staking: The Horus token will generate another cryptocurrency called the EOS CASH or ECASH (Horus Dollar in its whitepaper) when staked. In order to make international payroll disbursements with cryptocurrency a reality, HorusPay will need a reliable and stable cryptocurrency (one that is free of volatility). To make the EOS CASH (ECASH) a stable asset, HorusPay will have an EOS reserve, which will back the value of the EOS CASH (ECASH), and through this will be pegged to the USD. HorusPay’s stake contract has been deployed and users can stake Horus token through CLEOS, EOSTOOLKIT, and GREYMASS wallets. Users will enjoy a monthly 0.2% stake rewards when stake amount is between 100k and 500k would, and will enjoy a monthly 0.5% rewards when the stake amount is 500k to 1 million Horus. Also, for user who stake 1 million or more horus tokens, he can get ECASH equals to 1% of the staked Horus token monthly.
The HorusPay team has many years of experience in global Payroll and has technical background. CEO Jarib Figueredo has over 7 years of experience in the field supporting the global payroll team. Also, its team members include multiple developers. Nathan James, CEO of Scatter and Dee Byrd, Vice President of the American Payroll Association, serve as advisors of this project. Team Members Jarib Figueredo-Founder and CEO Jarib is an international payroll specialist with over 7 years of experience in the field supporting the global payroll team. He demonstrated ability for developing, improving and implementing process improvements and is proficient in CRM, HPL/ HPW, MCI (International) and Dayforce trained, ADP Global View and ADP Streamline. He is a native Spanish speaker with fluency in Portuguese and Italian. Joe Jordan-Blockchain Developer Blockchain developer, IT consultant, technologist. Joe has experience in blockchain, commercial software development, project management, technical writing, and offshore outsourcing. Jack DiSalvatore-EOS Developer Jack is an EOS Developer and active community member with a background in Software Engineering and fluency in C++. Scott Schechter-Full Stack Engineer Scott is a crypto enthusiast with over twelve years experience in building enterprise solutions for corporate customers and government agencies. Advisors Nathan James, founder and CEO at Scatter, a decentralized signature, identity, private data and authentication solution . Dee Byrd, vice president of the American Payroll Association, dedicated Payroll Project Manager with experience in corporate, non-profit and consulting environments.
On Sep 12, 2018, HorusPay announced a temporary increase in the percentage earned on stakes of 100,000 HORUS to 499,999 HORUS from 0.1% to 0.2 %. Also, those hold 500,000 to 999,999 would see an increase from 0.1% to 0.5%. This increase would be in effect until a full working version of Beta Payroll platform is released.
On Aug 31, 2018,HorusPay launched staking contract and token holders could stake Horus token for ECASH using the Genereos toolkit or the Greymass wallet.
On Sep 20, Bancor team launched the first decentralized cross-chain liquidity network——BancorX，and HorusPay will be one of the first batch of EOS-based tokens that will go live on BancorX.
On Aug 22, 2018, Jarib Figueredo, founder of HorusPay published an article on Medium titled Taking a Deep Dive into the token economics of HorusPay, discussing the token economy of Horus token.
On Jul 20, HorusPay listed on Chaince.
On Jun 30, 2018, Chaince supported Horus token airdrop.
In May 2018, telegram community launched.
In June 2018, whitepaper release.
In 2018 Q3, software Demo release.
In 2018 Q4, listed on exchanges.
In 2019 Q1, partnership announcements.
In 2019 Q2, Beta software release.
In 2019 Q3, global payroll vendor’s marketplace goes live; HCM automatization of data.
In 2019 Q4, multi cryptocurrencies disbursements options; portal goes live globally.