47% of the Global Workforce is Based in the Freelance Industry. Can the Industry Benefit From the Blockchain?
Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.
The freelance industry is incredibly large, constituting 47% of the global workforce. This share is expected to increase massively as more people dump their regular jobs to take up freelance gigs.
Considering the industry’s potential for growth, this may be a good time to embrace the blockchain. Undoubtedly, the freelance industry will benefit greatly from blockchain technology.
This article will explore some of the benefits the blockchain can offer freelancers and discuss an emerging project set to bring those benefits to life.
The blockchain itself is a decentralized technology, and projects built on it will utilize its decentralized structure.
Freelancers will have access to a decentralized space where clients can hire them directly without going through third-party platforms like Fiverr and Upwork.
Considering the fact that these platforms charge high commissions that often cut into freelancers’ earnings, a decentralized marketplace will greatly reduce fees.
The blockchain will also offer a decentralized payment system. This will cut out the need for third parties like banks and payment partners and will increase the speed of payments.
There is also the benefit of smart contracts. Traditional freelance platforms manage agreements between clients and freelancers. However, smart contracts can offer an option that is decentralized and can execute on its own without interference.
Smart contracts will ensure that freelancers and clients fulfill their obligations and will release payment accordingly. This will reduce the chances of having disputes and improve overall trust.
Other benefits include a secure and tamperproof
Read more on cryptonews.com
