Revolutionary Crypto Wage Access Platform Launched by Former OpenAI Developer

Discover how a former OpenAI insider is pivoting to revolutionize payroll. Joey Bertschler, previously at the forefront of AI development before ChatGPT’s public debut, is now building Volante Chain, a cutting-edge platform focused on providing instant crypto wage access. This move comes partly from his experiences and perspectives on the culture and direction at OpenAI.

Volante Chain: Bringing Daily Pay to the Blockchain

Bertschler’s new venture, Volante Chain, aims to dismantle the traditional monthly pay cycle, particularly for those living paycheck to paycheck. The platform enables employees at participating companies to receive their earned wages on the same day they work. Bertschler highlights the current system as restricting financial freedom for 30 days.

Key aspects of Volante Chain:

• Daily Wage Access: Employees can access earned wages daily instead of waiting for the monthly payday.
• Blockchain Foundation: Utilizes blockchain technology for transparent, immutable record-keeping and reduced operational costs, allowing for lower fees.
• Hybrid AI System: Incorporates artificial intelligence for risk assessment, predicting employer defaults, and providing decision support, complemented by human oversight and legal review.

Volante has successfully raised around $2 million from private investors. This funding is expected to support the company for approximately five years due to its lean operational structure. The platform is currently in a minimum viable product (MVP) stage, testing with a few thousand users in Vietnam and Japan, with future expansion plans.

From OpenAI to Fintech: The Motivation Behind the Pivot

Bertschler’s transition from a leading AI lab like OpenAI to the world of fintech and blockchain was influenced by both external opportunities and internal factors at his former workplace. As an Austrian national, he felt non-US employees faced limitations in career progression and were excluded from crucial stock option plans.

He noted the difficulty in showcasing his work externally due to OpenAI’s closed environment, which hindered building a public portfolio necessary for long-term career growth. “You don’t have a portfolio to show for it,” he stated, emphasizing the lack of visibility for contributions like documentation.

Bertschler’s View on OpenAI’s Direction

Bertschler is critical of OpenAI’s evolution, perceiving it as becoming more secretive and profit-focused, especially following Microsoft’s significant investment. He contends that the company’s current practices contradict its foundational principles, suggesting it could be accurately termed “closed AI.”

Reports indicate ongoing discussions between Microsoft and OpenAI regarding their investment terms, while internal debates continue about the company’s structure and mission. Despite attempts to shift towards a purely for-profit model, pushback from co-founders and early investors has led OpenAI to announce a pivot towards a public benefit corporation structure, aiming to balance profit with social objectives under nonprofit control.

The Intersection of Blockchain and AI in Fintech

Volante Chain exemplifies the growing synergy between blockchain and AI in developing innovative financial solutions. The platform leverages blockchain’s inherent transparency and security for transaction records while employing AI for sophisticated risk management and predictive analysis. This hybrid approach aims to create a reliable and efficient system for earned wage access.

Summary: A New Chapter in Financial Access

Joey Bertschler’s journey from OpenAI to launching Volante Chain marks a significant pivot, driven by a vision for more equitable financial access. By combining fintech innovation with blockchain technology and AI, Volante Chain seeks to empower employees with immediate access to their earned wages. This initiative not only addresses a prevalent financial need but also highlights the potential for former AI leaders to apply their expertise in building next-generation blockchain applications, potentially setting a new standard for payroll systems.