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Freelancers and Blockchain. The Solution is Finally Here

Who didn’t want to be their own boss at least once in their lifetime? Most freelancers aspire to work whenever they like from wherever they want and get paid in...
Freelancers and Blockchain. The Solution is Finally Here Freelancers and Blockchain. The Solution is Finally Here

Who didn’t want to be their own boss at least once in their lifetime? Most freelancers aspire to work whenever they like from wherever they want and get paid in their preferred currency. With decentralized payment methods, self-employed individuals can enjoy even more freedom and flexibility in their work-life.

It’s not just freelancers who choose crypto instead of fiat money. Blockchain enthusiasts are also looking for ways to boost their crypto stack. Some choose to convert their savings into digital assets, while others seek out jobs that pay in crypto. That’s when job search platforms powered by blockchain come in handy.

Freelancing on Blockchain Technology

The number of decentralized freelancing job platforms is growing, with many options to select from. We interviewed two freelancers and a representative from LaborX, to see the perks of working with a different payment system than the majority is used to.

Lukas Merville, a successful freelancer from Canada, top-rated on LaborX, shares his experience about working on the platform:

“LaborX is my very first experience working as a freelancer on a blockchain-powered job-seeking site. In early 2020, during the pandemic, I had to find a way to generate revenue from home. I came across LaborX, created a profile, and received offers almost immediately. I was already familiar with crypto, so for me, the adoption was instantaneous. Since then, I haven’t looked back. LaborX is a safe platform that handles payments brilliantly.” Another user, Isreal Ufumaka – a highly regarded freelancer that chose LaborX over other freelancing platforms – said he did so because of the higher income when receiving crypto payments:

“I was on Anytask, Fiverr, and Upwork (NASDAQ:UPWK). I switched to LaborX because I was looking for a better source of income as a freelancer. I prefer getting paid in crypto because it's simple and easy, and charges, like on Skrill and other platforms, are eliminated. Also, I can choose to invest my pay by trading them or staking.” Alexandra Kugusheva, communications manager from LaborX explained to DailyCoin how the platform works.

LaborX is a decentralized freelancer platform. Just like other popular on-demand work sites, LaborX connects Customers with Freelancers, but in this case, there are no middlemen. LaborX is hosted on the Ethereum blockchain, allowing the process of organizing work and getting paid to be managed using smart contracts.

The user interface of LaborX is similar to other freelance portals. Freelancers can upload Gigs, which offer fixed-price tasks for Customers to buy off the peg. Alternatively, Customers can post their Jobs if they are looking for something specific, and Freelancers can browse these opportunities and apply if their skills and experience match. Once funds are escrowed by the Customer, again using a smart contract, the Freelancer can begin work, and if the job is completed as required, payment is made automatically to their crypto wallet.

Freelancers Prefer Getting Paid in Crypto

For every crypto enthusiast, receiving their well-deserved pay in crypto is a big plus. As large institutions, as well as small businesses, begin accepting digital coins as payment, choosing a decentralized payment method is becoming more popular.

Kugusheva says there are several reasons why freelancers might prefer earning crypto instead of fiat money for their work:

  • Global payments –– crypto is a low-cost way to send money anywhere in the world. The legacy financial system charges high fees and imposes poor exchange rates that make paying smaller amounts of money uneconomical.
  • Openness –– many freelancers do not have access to a bank account, or are underbanked – including in so-called developed countries like the US. Crypto payments allow anyone to access the gig economy.
  • Speed –– payments can be seen on the blockchain as soon as they are made, and typically confirm fully within a few minutes.
  • Security –– crypto transactions cannot be reversed or blocked, which is a key concern for anyone paying freelancers or undertaking freelance work in certain countries.
  • Transparency –– using smart contracts and crypto payments gives users confidence that funds will be released automatically, and the ability to track whether payments have been made.
“Crypto handles all my needs, so I have no need for cash. I can pay my bills, my rent, and buy groceries with Crypto. I very rarely get paid in cash and when I do, I immediately convert this cash into crypto. This lifestyle was not possible a few years ago, but adoption has progressed to a point in certain countries that living this way, purely with crypto, is within reach of almost anyone now,” freelancer Lukas explains.

Freelancers shared the main benefits of receiving crypto payments: the level of transparency of interactions and payments recorded on the blockchain, the flexibility to choose preferred cryptocurrency to get paid in, super-fast, unregulated payments, being able to get paid a large sum for projects in an instant with no extra charge.

Future is Decentralized Freelance Platforms

As Kugusheva explains, decentralized platforms have the advantage of being open: there are no gatekeepers, or single points of failure, as there are with centralized systems. That means anyone can use LaborX to find work or a freelancer – no one is unfairly or arbitrarily excluded, which is often a problem on conventional freelancer portals.

As a downside, this openness can result in a large number of poor-quality freelancers and customers registering. LaborX deals with this problem with a decentralized reputation system. By taking into account user feedback and payment transactions from previous jobs recorded on the blockchain, it’s possible to rate all users reliably, since the blockchain cannot be tampered with. That’s another benefit over conventional freelancer websites, which often suffer from fake reviews and users who exaggerate their skills and experience to gain higher-paying jobs.

Freelancer Israel also added that some main disadvantages include fluctuations in payment with altcoins like ETH and the possibility of getting scammed. Yet LaborX also supports stable coins, which remove the volatility risk inherent in coins like ETH. Users have the choice of which crypto they arrange as payment.

LaborX is not the only freelancing platform that is worthy of attention. Orbi Network has a bright vision for the future of work. The company seeks “to create a better, more efficient and trustless environment based on verified and immutable data.” Ethlance is another excellent example of a freelance platform –– it runs off Ethereum, is free from external control, and has 0% service fees. For the freedom to get paid in different currencies, Gitcoin might be another great choice for freelancing.

On The Flipside

  • Some blockchain-powered freelancing websites are only at an early stage and will take time to become popular.
  • The platforms are still lacking users — both freelancers and job creators.
  • The majority of crypto websites offer payments in Ethereum which is volatile but easily exchangeable.

Why You Should Care?

Blockchain-powered freelance platforms aim to reduce or eliminate processing fees. This results in clients saving money and freelancers earning more. When working for blockchain, freelancers can forget about currency exchanges, receive their money immediately, among many more benefits.

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28-09-2021 06:09:15 (UTC+7)

EUR/USD

1.1695

+0.0001 (+0.01%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (2)

Sell (3)

EUR/USD

1.1695

+0.0001 (+0.01%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (2)

Sell (3)

GBP/USD

1.3702

+0.0007 (+0.05%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (6)

Sell (1)

USD/JPY

111.00

-0.01 (-0.00%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (3)

Sell (2)

AUD/USD

0.7283

-0.0003 (-0.03%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

USD/CAD

1.2628

0.0001 (0.00%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (6)

Sell (2)

EUR/JPY

129.82

+0.04 (+0.03%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (6)

Sell (1)

EUR/CHF

1.0827

+0.0004 (+0.04%)

Summary

Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (4)

Sell (2)

Gold Futures

1,750.65

+0.80 (+0.05%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

Silver Futures

22.635

-0.059 (-0.26%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (6)

Copper Futures

4.2790

-0.0007 (-0.02%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (3)

Sell (4)

Crude Oil WTI Futures

75.36

-0.05 (-0.07%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (2)

Sell (6)

Brent Oil Futures

78.62

+0.01 (+0.01%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (4)

Sell (1)

Natural Gas Futures

5.918

+0.058 (+0.99%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (1)

US Coffee C Futures

194.98

+0.63 (+0.32%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (0)

Euro Stoxx 50

4,165.48

+6.97 (+0.17%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

S&P 500

4,443.11

-12.37 (-0.28%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (9)

DAX

15,573.88

+42.13 (+0.27%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

FTSE 100

7,063.40

+11.92 (+0.17%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (7)

Hang Seng

24,208.78

+16.62 (+0.07%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (8)

Sell (0)

US Small Cap 2000

2,281.79

+33.71 (+1.50%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

IBEX 35

9,002.90

+129.80 (+1.46%)

Summary

Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (4)

Sell (2)

BASF SE NA O.N.

64.740

+1.040 (+1.63%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (5)

Bayer AG NA

47.47

+0.99 (+2.13%)

Summary

↑ Buy

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Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Allianz SE VNA O.N.

196.19

+3.85 (+2.00%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (2)

Adidas AG

278.80

-2.77 (-0.98%)

Summary

↑ Sell

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Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Deutsche Lufthansa AG

6.561

+0.328 (+5.26%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (7)

Sell (2)

Siemens AG Class N

147.27

-0.84 (-0.57%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (10)

Deutsche Bank AG

11.120

+0.285 (+2.63%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (5)

Sell (3)

 EUR/USD1.1695Sell
 GBP/USD1.3702↑ Sell
 USD/JPY111.00↑ Buy
 AUD/USD0.7283↑ Sell
 USD/CAD1.2628↑ Buy
 EUR/JPY129.82↑ Buy
 EUR/CHF1.0827Buy
 Gold1,750.65↑ Sell
 Silver22.635↑ Sell
 Copper4.2790↑ Sell
 Crude Oil WTI75.36↑ Sell
 Brent Oil78.62↑ Buy
 Natural Gas5.918↑ Buy
 US Coffee C194.98↑ Buy
 Euro Stoxx 504,165.48↑ Sell
 S&P 5004,443.11↑ Sell
 DAX15,573.88↑ Sell
 FTSE 1007,063.40↑ Sell
 Hang Seng24,208.78↑ Buy
 Small Cap 20002,281.79↑ Sell
 IBEX 359,002.90Buy
 BASF64.740↑ Sell
 Bayer47.47↑ Buy
 Allianz196.19↑ Buy
 Adidas278.80↑ Sell
 Lufthansa6.561↑ Buy
 Siemens AG147.27↑ Sell
 Deutsche Bank AG11.120↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank5,665/ 5,715
(0/ 0) # 900
SJC HCM5,635/ 5,700
(0/ 0) # 885
SJC Hanoi5,635/ 5,702
(0/ 0) # 887
SJC Danang5,635/ 5,702
(0/ 0) # 887
SJC Nhatrang5,635/ 5,702
(0/ 0) # 887
SJC Cantho5,635/ 5,702
(0/ 0) # 887
Cập nhật 28-09-2021 06:09:17
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,751.14+1.640.09%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-IV2204022480
RON 95-II,III2194022370
E5 RON 92-II2071021120
DO 0.05S1658016910
DO 0,001S-V1693017260
Dầu hỏa1564015950
ↂ Giá dầu thô thế giới
WTI$75.19-0.5-0.67%
Brent$78.60-0.59-0.76%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.630,0022.860,00
EUR25.993,7727.346,60
GBP30.324,2231.591,18
JPY200,45212,05
KRW16,7520,39
Cập nhật lúc 06:01:03 28/09/2021
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