The disrupting nature of Blockchain technology is mostly associated with finance and retail, where money is dealt with directly. And where this is not the case, the potential for blockchain is often underestimated. The freelance industry for instance is one of the areas where blockchain is finding good use.
The freelance market itself is making huge leaps in terms of growth. A report by the tech republic estimates that around 45 percent of tech jobs by 2028 will be freelance. But the news comes with its complications. You see, as much as the freelance industry itself is huge, it is also inefficient. This has affected the concerned industries. And it is exactly where blockchain comes in.
There is need to innovate and improve the inefficient freelance industry. And blockchain has a huge role to play in ensuring that. And here’s how:
Smart Contracts
Freelance working is more than a sideline gig. According to Yoss, over 80 percent of people aged 18-26 see remote work and freelance as a viable career path. This means that companies need to reevaluate the relationship with their labor force.
A company’s relationship with freelancers is unlike the typical employer employee relationship. Both sides have to negotiate a mutual arrangement that suits the two.
Smart contract could come in and assume the burden of establishing and maintaining the contracts. They could also manage incremental payments that accompany iterative freelance work. Because they are blockchain based, they could also double up as transparent records for both future employers and freelancers.
An Investment Source
Blockchain is not just about cryptocurrencies, although cryptocurrencies is the best known use case, you cannot downplay the two.
There are a lot of freelance platforms which remunerate in cryptocurrencies, with bitcoin being the most commonly used crypto. This fact reveals how much freelancers are willing to get compensated in cryptocurrencies as a way of entering the crypto markets.
Blockchain Development
Blockchain is the fastest growing technology, and if you aren’t involved, you are really missing out. The development of blockchain goes beyond cryptocurrencies. The demand for blockchain developers for companies like IBM, ConsenSys is now more than the demand for experts on data analytics and AI.
The high demand for the developers is being met by an acutely short supply of the same. Universities have been very slow in the adapting of their own computer science and IT curricula to meet the growing demand. Analysts say the shortage will continue for a few more years. So, in the time being, this is the time for you to specialize in blockchain.
How About Decentralized Freelancing?
The decentralization of freelancing has been demonstrated and spear-headed by projects like Experty. They example by Experty has curved the wat for blockchain in freelancing.
The projects hails from polish where they have built a platform designed for a specific niche of small scale consultancy. The platform offers knowledge seekers a platform for meeting specialists in various specialties. The former are offered services in exchange of small increments.
The Experty platform uses blockchain to manage and secure the micropayments and fees needed. The area is an untapped niche in the consulting world