Joey Bertschler, former researcher at OpenAI, now in fintech. To solve this problem, he’s launching Volante Chain, a blockchain-based platform that gives all employees access to their earned wages in real time. Unlike traditional payroll systems that make employees wait weeks to receive their paychecks, Bertschler wants to change that. Volante Chain is in the process of deploying out to a few thousand beta users in Vietnam and Japan. The platform aims to help workers take control by giving them faster access to their wages.

Addressing Wage Access Inefficiency

Weiss Vermont’s Bertschler pinpointed a systemic flaw in current payroll practices. He claimed the typical 30-day delay on receiving your first paycheck undermines economic mobility.

"Taking your freedom away, of choosing what to do with your money" - Joey Bertschler

Volante Chain addresses this issue by enabling employees at participating companies to receive their daily wages on the same day. By improving financial flexibility for workers, this system undermines the traditional status quo of how wages are distributed.

Volante Chain envisions a crypto-powered earned wage access system. This innovative approach leverages blockchain technology to facilitate quicker and more transparent transactions, setting a new standard for wage access.

AI-Driven Risk Assessment

Volante Chain’s system is a hybrid model, combining AI-driven processes that are checked by human operators and legally reviewed. The platform uses AI to proactively predict employer defaults and risk in real-time.

"There’s also semi-automation, some lawyers involved, some human oversight," - Joey Bertschler

This holistic strategy balances with precision, speed, and compliance to improve employees’ on-demand wage access experience. With the addition of AI, Volante Chain plans to reduce the risks that come with offering employees instant access to their wages.

Departure from OpenAI

Bertschler's transition from OpenAI to fintech was influenced by his growing dissatisfaction with the company's evolving direction. He was critical of OpenAI's increasing secrecy and profit-driven focus following Microsoft's involvement.

"It’s certainly going against a lot of the founding principles.“ - Joey Bertschler

Bertschler later shared his concerns about the lack of upward mobility for non-US staffers at OpenAI. He pointed out that they’re often left out of stock option plans.

"You can absolutely call it closed AI," - Joey Bertschler

These factors, along with enticing calls from the likes of Stripe and other fintech players, led Bertschler to make the leap into fintech and start Volante Chain. Volante Chain expects to be able to operate independently for at least five years without requiring raising their own capital.