BlockBeats News, June 17, according to Cointelegraph, former OpenAI employee Joey Bertschler is building a cryptocurrency-based instant wage access system through his startup Volante Chain. Bertschler stated that part of the reason for starting his company was disappointment with the culture at OpenAI. Volante will allow company employees to receive daily wages on the same day without waiting until the end of the month. Bertschler claims that the current wage payment method 'deprives you of the right to have 30 days of disposable money', especially for those who live paycheck to paycheck.
The platform utilizes blockchain technology to achieve seamless record-keeping and ledger verification. Bertschler revealed that Volante has raised about $2 million from private investors, and with this funding, the company expects to operate for five years without the need for additional financing.