Introduction
Upwork is one of the biggest freelancing websites in the world. What it actually does is very simple yet it has become the hub for freelancers from all over the world. It provides a platform for people to buy or sell a service. There are many other websites such as upwork like freelancer, people per hour, Fiverr etc. Which performs the same task for the freelancing community. According to one estimate, more than 50 % of total job in the world is going to be done by freelancers by 2027. This trend depicts the nature of freelancing market which has seen only upward growth in the recent times.
But, there are many problems which are holding back the freelancing industries' growth such as a heavy fee charged by the many freelancing platforms, fear of identity theft, Fund safety etc. There are issues which are making freelancing community to look weaker and in danger.
- Suspension of the User's account without notice and explanation
- Lack of an unbiased dispute settlement System
- Delay in payment
- Too much time in payment processing
- Ambiguous Policy and unfair guidelines
- Lack of a responsive Customer Care system
- High Transaction fee
- Danger of Identity theft
Upwork earned 941 million dollars in 2014 through freelancer's earning and in the same year the freelancer industry generated an estimated 3.2 billion $. Despite many problems on the freelancer platforms, they are reaping a large amount of money through freelancers. Up work charges 20 % fee for first 500$ earned and this fee reduces to 5 % as the earnings of the freelancer increases.
This seems a rather odd system of charging where you are charged more for earning less and less for more. Around one-fifth of the freelancer's earning goes into fees charged by freelancing platforms. The other problems such as fake review, fake client, and non-payment of fees for the work done are getting bigger day by day. The inability of freelancing websites to control and monitor a safe environment for freelancers and buyers, has created a low-quality system which is bound to fail at some point in time. The freelancing websites have made freelancers a powerless player in the freelancing ecosystem which inhibits new entrants into the community.
Solution Offered
Coinlancer aims to change the freelancing ecosystem by removing the third player from the game by offering a modern platform based on blockchain technology. Coinlancer is an ethereum based platform providing a smooth, transparent and secure interaction between clients and freelancers. The users and clients will be digitally authenticated and their address will be stored on the blockchain. Coinlancer has the lowest transaction fee of 3% for freelancers availing its services.
This standard charge creates an equality on the platform thereby boosting the morale of freelancer community. It is an ethereum based platform that uses escrow based payment system to serve the interests of both the parties. The dispute settlement on Coinlancer is done by freelancer tribunal which consists of four-star ranking freelancers. This system of dispute settlement makes the decisions fair and cheaper arbitration cost. The freelancer tribunal gets to decide on the suspension of the account from the Coinlancer's platform for violating platform policies. The Coinlancer platform is based on smart contracts which are self-executable. It mainly tries to create an ecosystem combined with Blockchain technology. It powers an even system which is favorable to both the participants in the freelancing ecosystem.
ICO Information
Coinlancer ICO began on 14th October 2017 and will continue until December 2017. They managed to raise around 5 million $ on the launch day. The CL token is 300 million in total where 93% will be held by users.
Why Should You Invest
Coinlancer is a great thought which aims to build an interactive community of freelancers and clients without the problems of traditional freelancing platforms. As more and more investment is made in the blockchain technology and cryptocurrency, we will see the improvement and growth in such platforms.
The introduction of a new dispute resolving tribunal which consists of freelancers is a major plus point of this platform. The Coinlancer team consists of people who have been industry veterans in freelancing and they are on a mission to create a transparent platform for the freelancers based on blockchain technology.
For more information visit
Website : https://www.coinlancer.io/
Writer: Kishan748