Blocklancer, a decentralized platform for freelance work, says it hopes to create the first “Distributed Autonomous Job Market”. Its founders say the platform is a place for customers and independent contractors to find each other, without the help of a middleman.
Blocklancer: Changing the Way Freelancing Works
The founders of Blocklancer have dubbed the Ethereum-based platform a “distributed autonomous job market” (DAJ).
They claim that by disintermediating contracted work they can solve a variety of significant problems within the job market. Indeed, they even go as far as to say that it will solve “all problems of current freelancer platforms.”
Benefits range from low fees (or lower than what current freelance markets charge), censorship resistance, fair and automated dispute resolution, to 100 percent guaranteed payments.
All-in-all, the creators and leaders — Michael, Sabrina, and Kevin Kaiser, who appear to be siblings — seek to apply a blockchain-based solution to freelance crowdsourcing by replacing companies like Freelancing.com with automated smart contracts.
If all goes well, it could drastically reducing the cost of entering the market. This is because the freelancing market, currently dominated by Freelancer.com and Upwork.com, often charges freelancers fees of up to 20 percent of their commission.
Freelancers Bid for, Manage Jobs Without Middlemen
Freelancers would be able to search for jobs on the Blocklancer platform and place bids on them, as they compete with other freelancers for any given job.
Workers could either bid down their costs to compete on price. Alternatively, they can build their reputation to a point where they will be seen as more reliable/skilled than the other less-proven workers.
As a proven commodity, these freelancers can be contacted directly for work by customers with particular tastes, or customers seeking out people with expertise.
This way, not only would good freelancers be rewarded but bad freelancers would be punished through Blocklancer’s reputation system.
In the event of a dispute, the platform would also provide recourse to both employers and employees through Blocklancer’s Token Holder Tribunals (THB) where thousands of token holders vote one way or the other to settle them.
Disputes can be about a freelancer’s performance regarding a specific job, or a disputed work review that one of the parties sees as unfair.
The ‘Lancer’ Token
Blocklancer is also holding an Ethereum-based ICO in August, but claims token holders can receive value from sources other than just speculation.
The “Lancer” token (LNC), represents a share in the project. Just like shares in a company, Lancer token holders will receive equity in the form of fees collected from freelancers.
The fee entailed in making an employment contract will be 3 percent of its included price with 100 percent of these fees going to token holders.
For more details on the token sale, see the project’s white paper. Like other Ethereum ICOs, it will be open to everyone who pledges ether into a smart contract.
What do you think of the Blocklancer? Is it a viable project? Let us know in the comments below.
Images via Blocklancer