UMKA: Bringing Decentralization to the Global Labor Market

in #cryptocurrency6 years ago (edited)

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INTRODUCTION
With massive recession in the global economy within the last decade, many were forced out of their routine paid jobs. Some still hoped on finding new jobs while others made concrete plans towards securing their future – acquiring skills.

The global labor market is today, saturated by different work schedules. While many still opt for paid jobs that demand physical presence, others are working behind the scenes at their leisure. The freelance industry is one out of many labor markets that has been posited to take over the global economy.
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There are professionals in different spheres making a living by working virtually. These professionals (freelancers) use the internet in seeking for clients. Likewise, clients in need of freelancers port to professional platforms such as LinkedIn. Such professional platforms serve as a link that brings both client and professionals together. They however fail to guarantee the freelancers’ dedication to duty. This is one out of many problems facing the freelancing industry.

Loopholes:
In traditional freelance/professional platforms, freelancers tend to carry out a project on their own without additional support. In projects that might require clarifications, freelancers are left in the lurch as there are no other freelancers to offer professional advice.

From another, freelance platforms such as Upwork and Fiverr are reputed to impose high commission rates per project concluded by freelancers on the platform. These commissions range from about 2.7%-20% per completed project.

In cases of non-satisfaction on the part of the client, a dispute might start and if not handled by both parties (client and freelancer), third-parties are invited into the situation. This is just as decentralized freelance platforms are using slow networks such as the Ethereum blockchain and utilize mono-cryptocurrency for payments.

A Viable Solution:
UMKA was developed to mitigate some of the problems in the traditional centralized and decentralized freelance platforms. UMKA – a blockchain based platform, is bringing decentralization into the labor market with particular interest in the freelance industry.
It uses the blockchain in offering wider and secure approach (decentralization) while offering other viable technologies that will contribute to the growth of the freelance industry.

Here, both clients and freelancers can have effective communication while securing their deals through a viable smart contract known as the Agile Smart Contract. It features turing-complete blockchain and smart contract technologies for its implementation.
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USE CASES

A Working Product:
UMKA features viable technologies. This will help it achieve complete decentralization of the freelance industry. Unlike traditional smart contracts, the Agile Smart Contract (AgileSC) will be responsible for the attainment of a transaction on the UMKA blockchain. It achieves a transaction through the parameters of “Time: what needs to be done”, “Work: when is the deadline” and “Budget: what remuneration”.
The Agile Smart Contract (AgileSC) will also hedge transactions and payments. It will keep the project’s fee in the client’s custody pending the commencement of the project.
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Digital Passport:
As a user on the UMKA blockchain, you’re issued a digital passport that contains your data such as certificates and diplomas. Your passport also contains your freelancing records such as your specialization and work experience. On the client’s part, his company’s profile and contractor reviews are visible in his digital passport.

EOS Blockchain:
Because of slow transactions on other blockchains (such as the Ethereum blockchain), UMKA is using the EOS blockchain in offering scalability to its users. The EOS blockchain offers the application of smart contract in decentralized applications and autonomous organization and there’s no fees incurred by using the blockchain.

Google Neural Machine Translation:
By using the UMKA mobile application, UMKA users (freelancers and clients) can bridge language barriers in their midst. UMKA features a Google Neural Machine Translator that can be used in comprehending alien languages.

Group Project:
UMKA is bringing efficiency to the freelance industry by allowing multiple partnerships among freelancers in undertaking a job. Using the Agile Smart Contract, clients can create grouped projects for freelancers to undertake.

Multiple Payment Channel:
Traditional freelance platforms such as Upwork and Fiverr accept only fiat currencies as payment. Blockchain and decentralized platforms likewise mostly operate mono-payments.
UMKA is coming with 15 different payment channels all in cryptocurrencies. You can now receive payment for your job through any cryptocurrency of your choice. If you don’t wish to get payments in crypto, there are options of withdrawing your earnings in fiat currencies. The good news here is that you don’t incur transaction fees for your withdrawals.

Arbitration:
Finally, UMKA settles disputes between clients and freelancers. It makes use of highly-rated users (based on their job attainment) in settling these disputes after which it reaches concise decision on which party (client and freelancer) that was at fault.

For every dispute intervened in and well-settled, the user gets 5% cut from the amount cited in the said dispute. Now that is a good way to earn while creating peace on the platform.
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Final Words:
UMKA will be found worthy by users on both traditional (internet-based) and blockchain-based freelance platforms. It solves problems encountered in both scenarios and I believe the project will perform creditably when it kicks off.

TOKEN SPECIFICATIONS
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Ticker: UMK
Platform: EOS
Soft Cap: $1 million
Hard Cap: $10 million
Total Supply: 180 million UMK
Exchange Rate: 1 UMK= %0.10 USD
Accepted payment : ETH and BTC
See more info on the website, check below this article for link.
Preview of token distribution :
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DUE DILIGENCE RATINGS FROM TRUSTWORTHY PLATFORMS:
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TAKE A LOOK AT THE AMAZING TEAM AND ADVISORS :
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PARTNERS:
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CHECKOUT THE PROJECT LINKS BELOW TO GET MORE INFORMATION ABOUT UMKA:
website : https://umka.city/
Whitepaper:
https://umka.city/wp-content/uploads/UmkaWP_Eng.pdf
Telegram : https://t.me/umka2018
Github: https://github.com/UMKAman
Facebook : https://www.facebook.com/freelance.umka/
LinkedIn : https://www.linkedin.com/company/umka/
Bitcointalk ANN: https://bitcointalk.org/index.php?topic=3382203.new#new
Reddit: https://www.reddit.com/r/UMKA/
Twitter: https://twitter.com/umka_freelance

Writer's bitcointalk username : deodivine1
Writer's bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1390292

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