More than 70% of freelancers have trouble getting paid at some point in their careers, according to research from the Freelancers Union. That’s quite alarming.
And, quite frankly, it’s unacceptable.
Freelancers have a significant positive impact on the greater economy. In the USA alone, they represent 36% of workers.
But clearly, freelancers aren’t treated with the respect they deserve. Otherwise, you wouldn’t hear horror stories about waiting for client payments.
Here’s the good news: Those days are over.
Now, some may say that third-party freelance platforms have already solved the issue of trust. They’ve made progress, for sure, but there remain issues. Not only have such platforms been criticized for creating a ‘race to the bottom’, they also charge fees — often well over 10%.
So, even if freelancers have a trustworthy ecosystem in which to do business, chances are they’re not getting their fair share. As a freelancer, you absolutely have a right to be outraged, but this is actually a time to rejoice.
A better way has arrived: the blockchain platform.
The blockchain is “an incorruptible digital ledger” that can not only be programmed to record financial transactions, but basically anything of value to mankind, as Don Tapscott notes. The technology guarantees integrity through mass collaboration and decentralized moderation.
The blockchain eliminates the need for trust in the traditional sense, with the code serving as law. This ensures no side is cheated.
Given the importance of the gig economy, it’s no surprise that teams are utilizing blockchain technology to address the most pressing issues freelancers face. This is precisely what Ethearnal is working on: Becoming the decentralized platform of the freelance industry.
We set up Ethearnal to be a forerunner of the ICO 2.0 economy. It embodies practical value for all parties to achieve a real goal: getting freelancers the money they deserve.
Ethearnal provides a true peer-to-peer (P2P) freelancing platform — one that not only removes greedy third-parties, but also brings transparency and trust by implementing the DAICO model. The decentralized ecosystem utilizes smart contracts to establish responsibilities for both the freelancer and client, guaranteeing no side can even try to scam the other.
That’s relieving to hear, right? But you may be thinking how this is possible.
Here’s specifically how the Ethearnal platform solves the payment issue for freelancers:
As you can see, the Ethearnal platform streamlines the work and payment process through the power of blockchain technology, while also taking away the hassle of handling disputes. On top of that, fees range from 0-1%, which means freelancers finally can take home what they deserve.
To align the interests of freelancers, employers, and moderators, Ethearnal tokenizes reputation with the ERT token. This encourages all sides to work to achieve the desired outcome.
When the freelancer and employer enter a contract, they put an agreed-upon ERT at stake. If the job goes well, both sides earn ERT tokens and boost their reputations. Those with the best reputations—the most honest and dependable freelancers and employers—gain a competitive advantage on the site.
That’s sweet news for freelancers. You should be rewarded for meeting deadlines and doing good work. Within the Ethearnal ecosystem, not only will you get paid right away, you’ll also be able to leverage your reputation to obtain more work and higher pay.
Of course, it won’t always be sunshine and dandelions in the freelancing world. Disputes will happen.
When a disagreement occurs, moderators step in to solve the issue. They too must put ERT at stake (at least 5% of the predefined stake value in the job listing). Overall, at least three moderators are required and they must put one-third of the predefined job stake value. Requesting that moderates risk their reputation motivates them to act honestly and make a fair judgment.
When disputes are handled objectively and swiftly, freelancers don’t have to worry about losing out on pay. They also don’t have to waste time attempting to solve issues with clients.
We innovate to solve problems. Ethearnal, by putting blockchain technology to work, ensures those working in the gig economy get paid on time and what they deserve. Gone are the days of sitting around and waiting.
Join the Ethearnal community—and never worry about getting paid again.