We are all aware of the benefits and good opportunities in the freelancer world. Most of the people are working as freelancer just because of the benefits of working as freelancer. Like good income or convenience of not going to office and work anywhere you like opportunity is satisfies us to work more as a freelancer.
Apart from that, it is good to hire a freelancer from other side of the world. Just because of it is easy and cheaper to work with people you hired for your office space. Because you have to pay for extra services liek assurance or etc.
So both sides are happy right?
No. Not really.
The service providers such a Fiverr and TaskRabbit charge exorbitant commission rates from the freelancer workers. Deceitful amount of money stays at the service providers just because they are providing the service.
Moreover, these freelancers lack many of the benefits that are afforded more traditional workers such as unemployment insurance, health insurance and sick leave. That is all based on their “independent contractor” status.
What about now?
You still think working as a freelancer gives you more flexibility than working in an office?
So What is The Solution?
Blue Whale
What exactly Blue Whale?
Blue Whale aims to create a better freelancer and gig economy platform. Using cryptocurrencies and smart contracts, they aim to build an ecosystem where a large variety of freelancers can advertise gigs, and also build their reputations, just like traditional platforms, but in a more decentralized fashion, and with lower commissions.
But how?
Here is the solution.
First of all they will use BWX tokens for the decentralization and for the rewards on the platform.
The Blue Whale Foundation’s blockchain-based WORK (Worker Optimized Reward Keeper) System of smart contracts is the only solution on the market designed to alleviate not only the financial and the legal problems with the “gig economy”, but also the looming concentration of power in the hands of a few tech giants." (Whitepaper)
The WORK system comes to an end with three unique parts. These are the Contribution Activity Manager (CAM), Decentralised Associate Network (DAN) and the Reward Bank (ReBa).
Contribution Activity Manager
On the Blue Whale platform, there are a number of contributor activities that can generate returns for those that are involved with it. The CAM was designed to make sure that these rewards were evenly spread throughout the broader Blue Whale ecosystem.
There are a number of activities that the community will be involved with. These will of course differ based on the type of product as well as a number of other factors. Below are some of these CAM activities:
Referral: Those who are able to effectively refer users to the Blue Whale platform who make a purchase are rewarded with their referral fee
Lead Generation: On the supply side of the equation, there are also rewards for those who are able to generate freelancer leads. If they are able to get other freelancers on the platform then they will get a fee
Curation: This is a very important part of the Blue Whale ecosystem. Making sure that the freelancers that are coming on board the platform are well vetted is essential. Hence, participants in Blue Whale are rewarded for their curation efforts. Only the most qualified freelancers will be entitled to take part in the curation process.
Verification: While the curation efforts will make sure that only the best freelancers are coming onto the platform, the work that they are producing also needs to be checked for quality. Hence, there will also be verification rewards that will be paid to those freelancers who can run quality control checks on the work of the newer freelancers.
Arbitration: There will inevitably be disagreements as expectations of clients and the freelancers are not aligned. This is where arbitration will be used. Blue Whale will set up a “council” for the arbitration that will be comprised of only the most experienced freelancers. The protocol has also included an incentive mechanism to keep the council members honest by requesting that they submit BWX tokens as security.
Reputation Scores: The ratings of the freelancers is crucial to the smooth functioning of a decentralised network. Hence, it is essential that freelancers are being rated for their services appropriately. This will help the customers to make the best decision on their service. In order to incentivise rating, those who are doing the rating will be rewarded with BWX.
Blue Whale whitepaper contains more info about the calculation of contributions and earning system. Be my guest.
Decentralized Associated Network
As you might understand it from the name, DAN will collect specific user data in order to develop a decentralized advertising network.
In another words, you can think this as an ad platform like Google Adwords or Facebook Ads.
You'll simply locate a SaaS platform to websites, social medias etc. and it will work. There will be 2 small widgets. One will present the ad kind of software and convert fiat currencies to BWX price, and other widget will work as ad runner window.
Reward Bank
This is the central repository that will hold the BWX tokens that are due as rewards to the participants on the platform. This ReBa will initially be funded with 20% of the proceeds from the public sale of the ICO.
So what would you prefer to use as a freelancer platform now?
Obviously Blue Whale is solving very huge problem for the both ends.
But how about the BWX tokens. How about an ICO review?
Let's start again.
What is Blue Whale
Let's look at the Good parts of the Blue Whale
According to their whitepaper they already have many partnerships and expansion plans happening this year. As of now they already have strategic partnerships with several companies that can bring great value to BlueWhale.
It is the first ICO that will come out on ICON Blockchain. Since ICON has a strong community and has lots of holders since its ICO, they are waiting for an ICO to use their coins and increase the number of them. What is the meaning of this? HYPE
The idea can potentially be revolutionary if they can achieve what they promise. And looking at the team, it seems like they will. Easily.
Judging by their documentation they do have some type of MVP, however this is not 100% sure. Hopefully, as the crowdsale approaches it will be made clearer how far along they are with the development of the network.
The team is the strongest highlight for this ICO. Strong advisory board, developers, business minded people, and visionaries all present.
What About Roadmap?
Here is the good news.
Blue Whale wants to launch their ICO + also announce a partnership with a “high profile Korean company” in May.
The BWX token will be listed in Q3 and Q4 they want to offer services on their platform in the US, Canada, Singapore, and Japan + additional Partnerships and also a first platform/service for entertainment.
What are the metrics?
ICO Specifics
For those interested in taking part in the Blue Whale ICO, below are the details of the crowd fund:
Token Name: Blue Whale Exchange
Ticker Symbol: BWX
Technology: ICON
Pre Sale Date: 2nd April
Pre Sale Bonus: 30%
Total Supply: 52,800,000,000(Token Sale) + 52,800,000,000
Soft Cap:* SGD25m
Hard Cap: SGD55m
Accepted Crypto: ETH, ICON
Summary
- Project is good. Really good. And I myself who worked as a freelancer for a long time, would definitely use it.
- HYPE is good, but need more attention.
- Risk is low. Lookslike their partnerships are on the way.
- TEAM is good.
- Flip opportunity is good
- Long term holding is medium.