[Translation] Colony attracts organizations and companies to the Ethereum blockchain

Colony Aims to Attract Organizations and Companies to the Ethereum Blockchain

London-based startup Colony is aiming to build an Ethereum-based infrastructure that reinvents how organizations and businesses collaborate, making human resources and project management more open, fair, and efficient.

Think of Colony as Trello and Upwork combined and run on the blockchain. By its nature Colony unites an organization and human capital on a distributed, highly transparent platform, and adds a monetary system that rewards both freelancers and contributors according to the value they contributed to the organization's success.

“Colony will bring a new essence of the corporation by greatly reducing both the transaction costs of market-trade for labor and the mutual trust required for collaboration. We view Colony as infrastructure for future organizations. We believe infrastructure should be trustworthy and fair. In other words, we think an organization should not depend on the existence or permission of other organizations when it operates.”

— said Jack du Rose, co-founder of Colony, to Bitcoin Magazine.

Colony, operating on the platform, is designed not to be managed by individuals who might err, but to leverage collective wisdom so the right people perform the right tasks at the right times.