What is Franklin?
Franklin is a versatile payroll tool designed to simplify payroll processes by offering automated payment options in both cash and cryptocurrency while ensuring tax compliance. It caters to a diverse range of users, including companies incorporated within the U.S. looking to pay W2 employees and contractors, as well as companies located outside the U.S. seeking to pay their contractors.
Franklin supports various currencies, including USD through bank account connections and ERC20 tokens, providing flexibility in payment methods. Importantly, Franklin takes care of federal, state, and local tax handling for U.S. employers, easing the burden of tax compliance.
One key aspect that sets Franklin apart is its commitment to security and user control. Franklin does not hold custody of company or worker funds. Instead, it operates through the Franklin Treasury, a smart contract accessible and controllable solely by the organization using it. This approach ensures the safety and integrity of funds while automating payroll payments according to the organization’s configuration.
Beyond payroll, Franklin offers additional functionalities, such as serving as an HR management system, facilitating expense reimbursement payments, vendor payments, and more. The platform has plans to introduce health benefits, a 401(k) program, and accounting system integrations in the near future, making it a comprehensive solution for businesses’ financial and human resource needs.
Updated Sep. 2023
Franklin is listed on MoBlocks
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