Adam Chapnick:

Hey everybody, it’s me, Adam Chapnick, with Security Token Academy. We’re here in Los Angeles at CIS 2019, and we are joined by the CEO of WorkDone, Mr. Joe Rogers. How’s it going?

Joe Rogers:

It’s going great, Adam.

Adam Chapnick:

Thank you for joining us.

Joe Rogers:

Thank you.

Adam Chapnick:

We go back a long way and I am very excited-

Joe Rogers:

Crowdfunding days.

Adam Chapnick:

Yes, way back into the crowdfunding day, but the reason I’m excited to talk to you is to have people hear about the application that you’ve figured out for blockchain, that applies to many people and does some good. For people who haven’t heard of WorkDone, can you tell us what is it and why does it exist?

Joe Rogers:

Sure. WorkDone is basically a corporate memory application. We use artificial intelligence to capture knowledge worker expertise for processing complex transactions. We’ve solved the problem when knowledge ... When someone retires or changes jobs, that knowledge no longer walks out the door, it’s retained in the company, and then we can use it to train new people or automate tasks, or for performance management. Because AI has ... everybody’s kind of worried about AI replacing them, we actually set up as a public benefit corp to fund a non-profit, which is a decentralized autonomous organization. So at the outset it’s a fiat, but then it turns into a token and we use crypto to put people back to work.

Adam Chapnick:

Okay, wow. I do want to hear about how that works. Where does the AI measure a knowledge worker’s contribution? How, if it’s possible to explain, how is that possible?

Joe Rogers:

Believe it or not, it’s actually transparent. It runs on the desktop behind the scenes, it just watches. We call it the WorkDone monitor. There’s no training required for the user, they just keep working and doing whatever they’re doing. The average worker has a number of tasks, half of them are grunt work, so we actually watch them do that and then we free them up to do the higher value stuff, which everybody has to do but they never get to it.

Adam Chapnick:

Help me understand now. Your AI watches me as I do my work from 9 to-

Joe Rogers:

Processing insurance claim, or paying an invoice, or purchase order-

Adam Chapnick:

What does it produce, or what does it determine?

Joe Rogers:

It actually captures how you process individual types of work, and we use machine learning, supervised machine learning, to create what we call work heuristics. It’s the operational best practices of how a business does it’s back office.

Adam Chapnick:

Then that ... You don’t train people with that?

Joe Rogers:

We learn from the people, and that’s retained in the heuristics.

Adam Chapnick:

So if I’m a business owner and I have generated a work heuristic for one of the processes that my workers do, do I then use that ...

Joe Rogers:

You get a message that your agent is ready, and then you can basically send the work to that agent. Then you monitor the output of that agent, you’re like, “Okay, it’s doing a good job,” and you let it do its thing.

So then that agent, you can actually put it into a marketplace, and people can hire out your agent, so it’s another stream of revenue. It’s all about ... In the past, there’s been technology and people, there was disruptions, old jobs went away and new jobs were created. We started out with technical innovation and it turned into socioeconomic innovation. We’re really all about getting people from here, these old jobs, to the new jobs which don’t even exist yet. That’s our purpose.

Adam Chapnick:

So then tell me again, what is the ... It’s called social ... What’s the ... benefit corp?

Joe Rogers:

PBC, Public Benefit Corporation.

Adam Chapnick:

Public Benefit Corp, and so how does that integrate once the process you just mentioned happened? Where does that come in?

Joe Rogers:

No, WorkDone was incorporated in Delaware as a public benefit corporation.

Adam Chapnick:

Oh, the whole company is a PBC?

Joe Rogers:

It already is, and what that means is shareholder benefit isn’t the ultimate be all end all. We can actually ... Written into our bylaws, a percentage of revenue funds a non-profit.

Adam Chapnick:

Isn’t that lovely?

Joe Rogers:

We can’t have equity holders, stockholders getting upset that we did that, because we’re set up, that’s our purpose.

Adam Chapnick:

That’s fantastic. Where are you ... Are you in operation, you’re launched?

Joe Rogers:

We are live, we actually have our first beta customer, they’re in Baltimore.

Adam Chapnick:

Great. Are you going to be U.S. based, or global, or ...

Joe Rogers:

Well we’re starting here, but it’s a global play, absolutely. The blockchain aspect is many; one, we use it ... The agent I mentioned that can do your work, it’s tied to the blockchain which prevents rogue agents coming in. They will have access to your systems of record, so we use that. Then as well, there’s a token that we use for the marketplace and that can be traded.

Adam Chapnick:

Got it. Since you so deeply understand the workings of a token economy, what do you think about a security token ... While you guys aren’t issuing an STO, how do you think that is currently impacting or going to impact the ecosystem as a whole?

Joe Rogers:

We’re actively considering an STO. We may end up doing both, ICO and STO, because of the benefits that a security token provides with ... Equity in a startup is not liquid for many years-

Adam Chapnick:

Believe me, I know it.

Joe Rogers:

Personal experience. Being able to actually get that liquidity up front earlier than later, that’s enough of a reason in and of itself. There are other benefits; being able to fractionalize ownership, etc. I like security tokens a lot.

Adam Chapnick:

Interesting. If and when you end up getting into an STO, you’ll have to come back and tell us how it’s going, how it went, what’d you learn.

Joe Rogers:

Absolutely.

Adam Chapnick:

It’s great to have you tell us all about WorkDone, thanks for joining us.

Joe Rogers:

Okay, thanks Adam.

Adam Chapnick:

Alright Joe, good talking to you.

Joe Rogers:

Thank you.