Many people associate the blockchain technology exclusively with bitcoin and other cryptocurrencies. However, this technology has a lot to offer to the development of the digital world. Blockchain transactions possess advantages of high level of security, fast speed and low costs. These features have already ensured the success of blockchain-based startups in various spheres. is making the most of the progressive technology to create the job marketplace of the future.
The traditional way of both finding a job and hiring personnel includes the work of the third party: head-hunters or B2B platforms. The development of the Internet changed this process – today more and more people rely on special online platforms and professional social networks. All of these methods have proved their efficiency. Nevertheless, the successful search still requires lots of time and efforts. What is more, the security of these solutions may be questioned.
Conn3x is a decentralized and AI-driven platform which achieved a new standard of job marketplace. The platform effectively uses all the advantages of blockchain and provides better user experience with the help of artificial intelligence.
‘James’, the AI module of the platform, serves as a personal Job Butler. The system has a lot in common with such popular voice-controlled applications as Siri or Amazon’s Alexa. James helps users to save time while using the job marketplace: starting from the creation of offers and ending up with the processing of payments.
The blockchain origin of Conn3x enables such features of the platform as security and fast international processing. The anonymity of the user is extremely important for the Conn3x team. Applicants are given total control on their information: they can even vary the list of skills shown to a specific recruiter.
The usage of smart contracts eliminates the need for the third party. The usage of blockchain technology is not only making this platform fast and secure – it also cuts down the costs and helps to optimize the process of head-hunting. The user database possesses high reliability as it is based on x11 algorithm that supports smart contract.
Conn3x is using its own Conn3x Coin for all the transactions within the system. It uses all the best practices of popular cryptocurrencies and offers users a interface for fast exchange of the token for fiat currency – Shape Shift. The decentralized payment unit is one of the major parts of Conn3x.
The platform is ready to reward active users to stimulate them to take part in the development of Conn3x. Even such simple actions as updating user profile can bring recruiters and candidates the reward; the platform is also eager to pay for the frauds reports and reviews.
Conn3x has already completed the pre-sale: 30,000,000 Conn3x Coin (C3X) have already been sold. ICO is scheduled for the 27th of March. The hard cap is $50 million. Conn3x is going to please the early supporters with a 90% bonus which seems to be a generous offer.
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The United States Internal Revenue Service (IRS) recently published a document reminding taxpayers that income derived from virtual currency transactions must be reported on income tax returns. The IRS states that taxpayers who fail to report virtual currency earning may be audited or made liable for “penalties and interest.”
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IRS Reminds U.S Crypto Investors of Tax Obligations
With the U.S tax deadline of April 17 fast approaching, the United States Internal Revenue Service has sought to citizens profiting from virtual currency transactions of their looming tax obligations.
The IRS states that “Virtual currency, as generally defined, is a digital representation of value that functions in the same manner as a country’s traditional currency.” The regulator notes that “Because transactions in virtual currencies can be difficult to trace and have an inherently pseudo-anonymous aspect, some taxpayers may be tempted to hide taxable income from the IRS.”
Undisclosed Crypto Income May Incur Penalties
The IRS states that “income from virtual currency is reportable on […] tax returns,” adding that “Virtual currency transactions are taxable by law just like transactions in any other property”. Should taxpayers fail to accurately report income earned in the form of virtual currency “can be audited for those transactions and, when appropriate, can be liable for penalties and interest”.
The IRS states that in “extreme situations, taxpayers could be subject to criminal prosecution for failing to properly report the income tax consequences of virtual currency transactions.” Said criminal charges “could include tax evasion and filing a false tax return”. The IRS added that “Anyone convicted of tax evasion is subject to a prison term of up to five years and a fine of up to $250,000,” and “Anyone convicted of filing a false return is subject to a prison term of up to three years and a fine of up to $250,000.”
Due to its tax status as property, “virtual currency is subject to information reporting to the same extent as any other payment made in property” in the U.S.
Do you think that the U.S tax regime for cryptocurrencies is fair? Share your thoughts in the comments section below!
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