The solution to the daily record of working hours with Blockchain technology
About the project
Current regulations oblige companies to record the entry and exit times of therir HR, Lucentia Lab, proposes a suggestive and effective technology such as blockchain to solve this problem.
The objective of the mandatory decree is to record the time of entry and exit of each worker, information that must be kept by the company for four years and be available to workers and their representatives, as well as by the Labor inspectorate.
The law seeks, through time control, to control unpaid or fraudulent overtime hours, which do not quote and cover up full hours in some cases, but it also seeks to identify and control abseteeism. In any case, employers are responsible for correct compilance and those who must respond to the labor authority.
Failure to comply can mean fines between 626€ to 6250€.
The blockchain system therefore allows the “tokenization” of working hours, converting them into units of value, leaving their compensation for vacation time or their effective payment at the discretion of employers and workers.