Freelancing On Blockchain | Pension Rewards Take

pensionrewards (39)in #blockchain • 6 years ago

Online freelancing has expanded into a large market over the years with an estimated 2 trillion USD said to be earned by employee across the market annually. Though the numbers might not be exact, centralized platforms like Upwork, Fiverr, and freelancer proves the market has grown over the decade.

According to market statistics, there has been an increasing number of workers that have chosen freelancer because of the flexible nature. They have the freedom to work at their own will and pace with preferable partners. The decision making towards their goals has also become an easy task. Another important feature in the freelancing market is that each person can conformably make a decision to their best interest.

But then most freelance jobs are secured through service providers like Fiverr and Upwork. They provide a platform where employers can showcase their work or an employee applying for a job, making them a job information avenue. These platforms have become popular because of their service as a middleman for the contracts including the funds. They maintain and secure contracts while also keeping rating for both the employer and the employee for each completed contracts.

However, these middlemen sometimes become inefficient especially when it comes to delivering payments. Not only that they charge a certain fee, but it also takes days or weeks before funds can be successfully transferred. Sometimes securing and accessing payment is problematic for online freelancers. Platforms like Upwork hold money in escrow and sometimes users can't access this money till they reach some certain amount, which is not perfect.

Also, they’re the ones that set rules on how ratings are calculated which is a basis for employment. These ratings take years to built and belong to the platform which they don't share among other platforms.

The worse is that building reputation by startups to grow the internet presence is becoming increasingly hard without worrying about centralized platform changing their rules, taking away audience and profits. Sometimes these changes also lead to closing down of accounts with all the funds and no refund.

The bad news is that it became much harder for startups, creators, and other groups to grow their internet presence without worrying about centralized platforms changing the rules on them, taking away their audiences and profits.

Blockchain which it's core values is on decentralization, however, will likely boost the freelancing market. It will address this issue by eliminating the middleman to make the working relationship more flexible. The system will create a user-friendly platform that gives back rights to freelancers who are ready and willing to trade their skills to the distributed labor market and earn a living from it.

Blockchain will also help freelancer build a solid reputation and also proof their skills without relying on a third party website to verify their details. There are various means that an individual can defraud a client, and claim responsibility for a job they never participated in. Blockchain can create a secure record of the originator so that clients know they are hiring a professional with all the competency to get the job done.

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“We aim to empower the world’s freelance/workers/gurus/youths community by creating one of the largest worker-centric decentralized ecosystems where independent workers can pursue their passions and get the value they deserve from the gig economy.”

Pension Rewards Platform will also benefit employee, companies, affiliates, and individuals by creating multi-stage projects that will allow numerous groups to participate, forming a single body to manage complex workflow. They will also benefit from skills-matching features of the platform, as clients would be saved from sorting through a pull of talents.

Nevertheless, smart-contracts is still a great tool for online freelancing. Though some freelancers may prefer to work in a more organized platform like that which Pension Rewards aims to offer, while others see platforms that allow smart-contracts to be prepared easily as their best bet. It is likely that same advantage offered by Blockchain to other industries will be realized in freelancing with the help of platforms like Pension Rewards.

However, we are still in the early stages of the Blockchain and there's is a big potential to accelerate freelancing ecosystem. It will give more freedom to freelancers work only on a project of their best interest without hindrance from a centralized system.

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