Freelancing has been a popular career option for thousands of people years before the pandemic struck but, ever since the Covid 19 virus spread like wildfire, many people are forced to work home or be a victim of employment. Now, a new generation of blockchain organizations permit freelancers as well as employees to engage, peer-to-peer without the interruptions or dominance of other workers in large corporations.
⮚ Disadvantages of traditional online freelancing:
Apart from the benefit of being able to choose your own working hours according to your flexibility, freelancing comes with other advantages as well. However, many freelancers working under the gig economy face certain problems, especially as they have been dependent on large freelancer portals.
- High commission fees: the big platforms charge freelancer’s fees for their high demands due to the competition and large number of employers. The cash they demand is extremely high and puts great pressure on new freelancers.
- Difficulty working across countries: arranging work with employers around the globe can be chaotic and complex. This includes several authentications of documents and settlements between financial organizations which can again cost high and involve a third party.
- Limited markets: organizations may not want to get involved with freelancers and avoid them due to the problem stated above. This reduces the market options and global jobs are missed out by several freelancers.
- Unjust dispute resolution procedure: due to the difference in opinion regarding the quality of work, disputes can take place. Freelancers are often unjustly penalized as the owners of the platforms take the employer’s side by default as the employers are the one responsible for bringing money.
- Unnecessary guard: it is an usual matter that freelancers are often targets of denied access and some sites even disqualify them as members. Trading cryptocurrency can be extremely difficult for beginners, click the revolution is here, check the bitcoin app hereto know more about online trading.
⮚ Blockchain of Bitcoin as an aid for freelancers:
The secured technology behind Bitcoin, i.e, Blockchain is the saviour for freelance marketplace.
- Interaction between clients and freelancers – all agreements are a part of a permanent, alteration proof, time approved record when blockchain is used.
- Smart contracts – smart contracts are self-implementing agreements depending on the complex blockchain technology and they naturally trigger response or payments and thus all the conditions are fulfilled.
- Proof of identity – identities can be stored on the blockchain by the freelancers, which not only make it accessible to everyone at need but, also keeps it secure on the blockchain.
- Secure portfolios – all the workers can be traced back clearly to the freelancers who originally created it with blockchain, and all the reviews evaluation can be traced back to the one writing them, making the responsible for the reviews and minimizing fake reviews.
- Easy distribution – information can be easily distributed and transferred in spite of being stored in an immutable format. The works can be posted and very easily distributed on several different platforms.
- Enhancing the procedure – processing becomes quick due to the secured and accessible features of blockchain.
- Privacy – revealing bank details is a necessity often dealing with freelancing. When the payment is in Bitcoins, there is no need to worry about that anymore. With the implementation of blockchain, transparency and accountability now come hand in hand making it an ideal source for freelancers.
⮚ Blockchain as the future of freelancing:
Online services and social platforms are mostly centralized, they depend on large sectors and companies to help fund the procedure. Consciously or unconsciously the users trust the organizations and readily give them access to their personal data to carry out administrative procedures.
The trust can be taken for granted sometimes and important data of the user can be leaked for profit or benefit. Blockchain is decentralized and does not require a third party to operate thus providing an ideal work infrastructure for freelancers.
With the new generation of Blockchain oriented freelancing, the entire process has been eased for freelancers. Blockchain not only promotes transparency but also keeps personal data secured.