Blockstack's First Business App Wants to Help Employees Earn More Crypto

If cryptocurrency is decentralizing the world of money, a new bitcoin wallet startup thinks it could also help decentralize the world of work.

Revealed exclusively to CoinDesk, Misthos launched its multi-signature wallet Monday on top of Blockstack's decentralized application platform.

These organizations, which often form to carry out a specific objective before disbanding, "Want to have transparency into where their cash is going and want to be able to distribute their income in a fair way," Misthos founder Justin Carter told CoinDesk.

Misthos makes its money by collecting a 1.49 percent cut of the payouts.

Several partnerships are already using Misthos to distribute bitcoin among members, including the four-person team behind Munich-based bitcoin publication Coin Trainer.

Misthos is part of a broader push across the cryptocurrency community to support less centralized employment models.

"There's also storage that Blockstack provides, and part of that we're leveraging," Carter said of Misthos, which uses Blockstack IDs for logins and wallet management.

Plus, in her view, it's important to consider how crypto community politics, and arguments on social media platforms where "a lot of nuance is being lost," could impact project governance on Misthos, which she nevertheless said offers a compelling idea for on-chain bounty management.

"The point Misthos steps in is for a form of documentation and execution," he said.

"On-chain smart contracts are likely necessary for users of a dapp who don't know each other. But since all partners in a Misthos venture must know one another before signing off on a payment, they are able to coordinate pay-outs off-chain without needing a potentially cumbersome on-chain smart contract."