Before understanding why it is necessary to have a freelance platform for Blockchain, let’s have a quick look at what the technology is. The Blockchain is a decentralised ledger that has all records of transactions across a varied network of computers. Once records are entered, it cannot be altered. The information is then accessible to the people in the system. It is this feature that many companies are trying to tap for freelance contracting.
Emergence of the freelance market
In the past few years, there has been a growing inclination towards freelancing. Freelancers represent around 35 per cent of the global workforce. This means, around 1.1 billion people all over the world work independently in different sectors such as content writing, marketing, designing, videography, IT and programming etc. However, in the context of Blockchain, freelancing is not a very popular option. We shall therefore discuss different platforms that provide suitable opportunities to freelancers aspiring to build a career in the field of Blockchain.
What makes Blockchain suitable for the freelance market?
Blockchain came into being with the emergence of Bitcoin in 2009. It favors peer-to-peer (P2P) transaction without the interference of any third party. This makes the process hassle free and saves the cost of sharing it with the third party. The following factors make Blockchain a favorable concept for freelancers:
i) Low cost of transaction
Blockchain powered freelance platform benefits
i) Unchangeable and secure record of transactions- Unchangeability is an important feature of Blockchain. It provides a safe environment, free from hackers to store transactions and contract data. The agreements between freelancers and their clients can become a part of the record that is difficult to violate.
ii) Cost effective- The workflow in freelancing is massive but the money transfer may require some extra fee. In case of Blockchain, there’s no third party, therefore, the money can be transferred with low or no transfer fee.
iii) Work proof- Credibility forms an important part of freelancing. With Blockchain, freelancers can easily store their portfolio data and profile with copyright.
Different platforms offering opportunities to freelancers
Fiverr is a freelance community designed for employers who have quick and low-cost projects they need help with. This website is suitable for gig workers looking for a temporary work position. The pricing of gig depends on how much the seller earns for each completed task. But Fiverr’s tendency to give complete privileges to buyers often results in neglecting the rights of the sellers.
Upwork has positioned itself as the “luxury” freelance job site since it has higher-paying projects compared to other sites. Moreover, the website’s secure payment option makes the payment procedure easier. However, Upwork charges hefty service fees starting from 5% and going up to 20% depending upon how much you earn. Besides, due to high competition, finding clients on Upwork becomes a tedious task.
Pentonium is a decentralised freelancing platform with transparent governance. Its goal is to create a new structure for freelancing with the lowest possible charges. It aims at reducing the hassles of not only our users and clients but also freelancers. Further, the company enhances privacy through P2P chat services facilitated by Skynet and IPFS for the storage layer. It also provides a community-based solution to create an automated dispute resolution layer around it. Escrow smart contract ensures that the service providers receive fair and instant payment.