The world of freelancing is an extremely competitive and unforgiving space. There are several big freelance companies like Upwork, Fiverr and Freelancer who have consolidated their entire businesses by wiping out the entire competition through acquisitions and such. Due to this reason, the profitability and utility of freelancing platforms have taken a hit.
These companies charge an injust 20% of the total gigs or orders as the company’s share and are often very harsh on the freelancers and often slap them with big penalties. The buyers and clients on the other hand have a very frustrating experience on the platform and often believe that the quality of work they were expecting was simply not there. They are also affected by the insanely high share of the freelance company.
Both buyers and sellers are limited by the company and its unethical profit-taking. The centralization is the key problem here as the company itself has to pay thousands of employees and invest in expensive support staff and much more. This is where blockchain-based marketplaces and freelance forums come in. By removing the central nature of these platforms and offering blockchain-based decentralized decision making, they are aiming to cut make the market freer.
Blocklancer is a new blockchain-based platform that seems to have formed a good recipe for success. Instead of giving control to the people in the support department of freelance companies who often don’t understand the issues between the seller and buyer, they instead give it to their token holders. The end decision is based on consensus. This particular application is crucial for the success of a freelance platform as disputes rise between clients and freelancers. These disputes are often quite complex in nature and it is widely accepted that the companies always favor the client since they don’t want people to take their money away from the freelance platform. It just makes sense but in case of a decentralized platform, the profits are being shared between the users and the token holders.
As a result, the dispute result is fairer. Also, there is the question of exorbitant fees being charged by the prevalent freelance companies due to lack of competition. Fiverr and Upwork are both charging 20% of each project as platform fee which is ridiculous since only a while ago both were charging 10% due to competition from elance and other freelancing platforms. Now Upwork acquired elance and within weeks the fee was increased from 10% to 20%. Same was the case with Fiverr. This is just like drug companies increasing the prices of drugs because they only own the patent and hence people suffer from their selfish monopoly over medicine. So, Blocklancer is a great platform that aims to remove all these ills from the freelancing platforms and knock them out of competition. It has a secure payment that accepts wide range of currencies.
The Blocklancer token is called Lancer Token and only the token holders can take part in the dispute process and get rewards for settling disputes. The pre sale took place in September and is now over. The price of 1 token is only kept at $0.001 to encourage more people to become part of its team and help with decision making. The total coin supply in the ICO is 1 billion and the coin can be traded in crypto markets later on. You can check out the project and the ICO news on their official website.