Thor, a United States-based blockchain project focused on payments, retirement planning, and healthcare access for contract labor, has released its monthly progress report for November, 2018. In the report, Thor details its progress on finding customers for its payment portal, Odin, and the further development of Odin’s Software-as-a-Service (SaaS) business and pricing models.
Thor CEO, David Chin, and the Thor team attended the Blockchain Expo North America in Santa Clara, California. The Thor team manned a booth and used the event as an opportunity to meet with blockchain investors and potential Odin customers. Elsewhere at the conference, Chin gave a presentation titled “3 Signs You’re Bad at Blockchain,” singling out regulatory compliance, partnerships, and a base of customers as the three essential components for success as a blockchain company.
The report also outlined its Software-as-a-Service business model, in which the Odin portal is hosted by a third-party provider and then accessed by users over the Internet. Thor states that the SaaS model is “generally cheaper” for users, with easier implementation for large businesses.
Odin’s tentative pricing model was unveiled, with USD and THOR payment options. Odin is projected to cost US$15 per contractor per month and will feature functionality to manage and retain a contractor workforce. Services will include payment tracking, storage of employment documents, and automatic tax reporting to the IRS. Payments to contract labor as well as the onboarding of new contractors are both free under the current model.
Securities and Exchange Commission
In the final section of the newsletter, Thor discusses the current United States regulatory environment for ICO projects, which is led by the Securities and Exchange Commission (SEC). The SEC’s recent announcement of FinHub, a working group that will “collaborate and assist new and existing blockchain and digital asset startups,” made news in November. Finhub is a direct line of communication between United States securities regulators and blockchain startups, which is a notable change from the status quo during blockchain’s crowdfunding boom in 2017.
M Group Health Enrollment
In November, Thor also announced a partnership with M Group Health, a California-based health insurance agent and broker group. The partnership will allow Thor to offer healthcare access to the general public during the current open enrolment period, which ends December 15th, 2018.
Thor still plans to bring its Thor Care online through a non-profit Association Health Plan before the next open enrollment period begins on November 1st, 2019.
Thor’s full November report can be found at the following link: