Beam ICP to Team Members or Request a Beam with a Unique Beam Link
Today the team behind Content Fly launched Beam as a standalone app for sending or receiving a constant stream of ICP, which updates in real-time every second. This enables workers/team members to be paid as they work instead of at the end of the month.
Beam is already integrated into Content Fly as a payment method for jobs, and there are extensive opportunities for integration with more platforms to enable streaming payment in return for products & services.
Just around the corner, Bitcoin & Stablecoin will be added as a payment methods in Beam. Once added, it may be the cheapest way to stream Bitcoin and Stablecoins.
Why Beam?
Why should workers have to wait to be paid for their time, only after all their time has been spent?
Workers are forever in debt of time spent working, in Work Now & Paid Later type arrangements. Workers are used like credit cards, with employers benefiting through real-time work production, an interest-free period, and then paying days or weeks later.
The employer also heavily benefits from a cash flow and interest earned point of view. This arrangement oozes inequality, however, where there is no history between an employer and a worker (a low state of trust), it is the safest arrangement for the employer to avoid losing money paid to a worker that doesn’t produce the work.
But what about the safety of payment for the worker, with the chance that the employer doesn’t eventually pay for the work produced? These arrangements also cause cashflow inefficiencies in a system, as the velocity of money is reduced, with capital sitting idle until payout instead of being utilized.
The birth of Beam
When sufficient trust is established between an employer and a worker, the timing and frequency of payment usually become more flexible. However, there is always one party that is either paying more money than the amount of work produced or spending more time working than they’ve been paid for. To achieve a state where the time spent working equals the money paid, payment must be streamed in real-time, at a constant rate over the duration of the job performed.
Benefits of Beam + The Beam Ecosystem Vision
Workers paid in real time for the work they produce enables them to utilize that money straight away. As job payment streams in, workers have the ability to stream it straight out again, continuing the stream into various projects, DeFi purchases, savings, or investment channels. In a system containing a network of Beams between parties, the velocity of money is increased which enables a higher economic output without the need for adding debt to make up the gap between outgoing and incoming payments. To read more about the Beam Ecosystem Vision check out this article on Medium.
How Does Beam Work?
Anyone can create a Beam in a few simple steps:
1. Click "Beam Out" on the Home Page.
2. Fill out the payment details (ICP Amount, Recipient Plug Wallet & Duration).
3. Click "Create Beam" and deposit the funds through the Plug Wallet browser extension.
If you want to get paid through Beam:
1. Click "Get Paid" on the Home page.
2. Fill out the payment details (ICP Amount, Your Plug Wallet & Duration).
3. Click "Create Unique Beam Link" and send your unique Beam link to your payer!
Once a Beam is created the ICP will begin streaming to the Recipient straight away, updating in real-time, every second! The Recipient can then claim the ICP as often as they wish.
To view the status of your incoming and outgoing Beams, click My Beams in the top right corner and connect your Plug Wallet.
*Make sure to unlock your Plug Wallet*
If you wish to pair a Beam payment with a task/job to be completed, go to Content Fly, create a job, and when awarding the job to a Creator select Beam as the payment method.
So go ahead, request a Beam from your employer, or Beam Out some ICP to a friend or employee!
If you found this article interesting, or know someone who would like to use Beam, please share it with a friend. :)
Connect with Content Fly (the team behind Beam):
Content Fly dApp | Discord | Twitter | Medium | Email
Connect With Us:
Twitter | Telegram | Instagram | Facebook | Email
Comments are for members only. Join the conversation by subscribing 👇.