Thor has announced the launch of Odin™, its flagship contractor management portal for businesses that employ independent contractors. In addition, it has already secured Odin’s first customer: Yoshi, a GM- and ExxonMobil-backed nationwide car care service.
“Releasing Odin is a major milestone for us as a company. There is no product on the market quite like it for managing payments for a 1099 workforce,” said David Chin, CEO and co-founder of Thor. “We’ve been eagerly anticipating this moment, and it feels amazing to put our baby in the hands of businesses that are excited to use it.”
Odin, the first blockchain-ready payments portal of its kind, is an essential software for businesses that regularly employ independent contractors. With Odin, these companies can easily manage and track all outbound payments to their contractors, saving countless hours of unnecessary and tedious back-end work.
In addition, by leveraging Thor’s Lightning Pay™ instant payments available with Odin, on-demand companies can incentivize contractors’ behavior at the point of activity while maintaining a compliant company/contractor relationship — removing a significant hurdle many of these companies face.
With the launch of Odin, Thor becomes one of the very first blockchain companies to release a working product being used by real businesses in their day-to-day operations.
Thor will continue to add functionality to Odin as it becomes available, including integrating a debit card solution by the end of 2018 that will allow users to access their money immediately upon receiving it in their Thor wallet instead of waiting for the ACH transfer to their bank to be completed.
Yoshi, Odin’s very first user, will use Odin to manage and track all of its outbound payments to independent contractors that it works with, massively reducing the hours required to complete these tasks so Yoshi’s employees can focus on expanding their business.
“There are surprisingly few tools designed for managing payments to contractors — and Odin is by far the best thing we’ve come across. Now we save time and money on the backend, while increasing the productivity of our employees by 20 percent,” said Nick Alexander, CEO with Yoshi. “It’s about time someone put a product like this on the market.”
In upcoming releases, Odin will automate all financial disclosures to the IRS regarding business payments to 1099 contractors, further streamlining the contractor management process so that companies can stay focused on their core mission.
Thor is the one-stop mobile platform for blockchain-powered gig economy solutions. We’re giving contractors (freedom workers) instant pay, access to affordable healthcare, and retirement planning — all while helping companies save serious money on payment processing and contractor management. A part of the NEO Smart Economy, Thor is bringing the full power of the blockchain to the rapidly growing freelance workforce. Welcome to the Gig Economy Revolution.
Yoshi delivers fuel and car maintenance services directly to drivers across the country. Yoshi’s mission is to help our members to keep moving in the safest, most efficient, and planet-friendly way possible while delivering unparalleled customer service. Yoshi is based in San Francisco, CA. Learn more.