BlockWRK, a provider of smart employee management and employee retention solutions, 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 meet daily goals related to employee health, safety and job performance.
The collaboration with Visa will allow the rewarded workers to exchange the WRK token into USD via a Visa debit card in real time. They can also choose to keep them in the form of tokens like in a savings account.
Speaking at the launch of the app, George Mylonakis, CEO and Founder of BlockWRK, said:
Our app allows companies to show workers their appreciation in a fair, honest and seamlessly, with smart contracts delivering instant rewards for meeting targets. With this unique Visa card, claiming these rewards is easy and transparent. In future updates, we will extend its core functionality to turn BlockWRK into an innovative tool comprehensive human resources management tool.
About the app
The app, which has built-in telehealth functionality, helps employees manage stress and health risks at work. It offers a 24/7 mental health helpline, free for employees, allowing them to connect anonymously with a team of expert counselors.
It also rewards workers who perform daily safety checks to reduce workplace injuries and helps them diagnose any muscle or joint injuries and access licensed orthopedic specialists through an AI-based symptom assessment tool.
The tool was originally intended for workers engaged in fields involving manual labor, such as construction or warehouse, by connecting them remotely with doctors and physiotherapists.
It can also be used by any member of the employee’s family, including for sports injuries or any other non-professional accident, and is available 24/7.
Besides health services, the app provides employees with 0% APR payday advances. Workers can access up to $ 200 from their next paycheck for a lump sum of $ 5.
The role of smart contracts
BlockWRK uses smart contract technology that enables companies to encourage and inspire employees to lead more active and healthier lives. Specifically, smart contracts allow the app to automatically issue WRK tokens when it meets its daily activity goals.
In addition, employees can redeem WRK tokens accumulated in their account through a Visa debit card. Plus, through smart contracts, employees can access up to $ 200 on the next paycheck for a lump sum of $ 5 without having to search for 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 redeemable on Bitmart.
Each company that signs up to the BlockWRK ecosystem must acquire a balance of at least $ 10 from WRK for each employee each month and can purchase more tokens to expand their rewards program.