Washington Magazine

Coinlancer, the freelance ICO listed its first crypto exchange listing

Coinlancer, the freelance ICO listed its first crypto exchange listing

Coinlancer, a blockchain startup that solves pressing freelance issues through decentralization, just got listed on HitBTC, meaning people can buy and sell  the CL token. Great. But why does this ICO matter?

In 2016 alone, freelancers represented 35% of the US workforce, earning over $ 1 trillion. ONE TRILLION! That’s 12 zeros. And a big chunk of freelancing happens online. There are numerous platforms who are currently shapping the industry. A rapidly growing industry, not without its problems however.

The 3 big freelancing issues.

Currently there is a number of issues with digital freelancing. Some more pressing, others not so much. Three of them really stand out however. First and foremost, dispute resolution is slow, inefficient and centralized. Let’s be honest, if a freelance project gets to a dispute at the current state of the industry. It’s not looking good for either of the sides. It takes ages to resolve, if ever. Secondly, the digital freelance fee system is broken. Fees are ridiculously high, dancing around 20%. Last but not least, we are left with little variety of payment options available. Can we pay with crypto already or is it still 2013? Payments on freelance platforms currently take days!!!

Decentralizing a freelance marketplace

Decentralization, distributed ledgers, blockchain, etc. All these hype words are being thrown left and right like salt on a dish. Initial Coin Offerings promise the decentralization of everything. Although the benefits of blockchain and distributed ledger technology are countless, including instant, immutable transactions at a lower cost than traditional finance. Despite those benefits, not every industry will benefit from decentralization, that’s for sure. The digital freelance marketplace, however, seems just the right fit.

Meet Coinlancer

Coinlancer is a blockchain startup on a mission to decentralize the current freelance landscape, solving some of its most pressing issues. The Coinlancer platform, run on the Ethereum blockchain, supports over 20 cryptocurrencies as payment options which drastically lowers platform fees – a stunningly low 3% compared to a standard of 20%. But lower fees and variety of cryptocurrency payment option is not what makes Coinlancer truly special.

How does it work and why is it revolutionary?

In addition to the ridiculously low fees, Coinlancer solves the issues of dispute resolution, fake reviews and identity theft. The platform has a friendly and easy-to-use interface for clients and freelancers to help post their requirements with ease. Clients can list their jobs and freelancers can bid for them to get the desired jobs.

To ensure the authenticity of the users, the platform will be performing identity verifications whenever necessary. The unique identities of clients and freelancers will be based on their addresses in the blockchain, making it difficult to forge. When a contract is awarded by the client, he needs to deposit platform fee which is paid in the Coinlancer token.

The platform implements a 3% fee for employers and no fee for freelancers. The platform will utilize smart contracts and Escrow mechanism to hold the fee and perform disbursement of the collected funds on obligations met. Freelancers Tribunal is created which decides on the disputes between clients and freelancers. The tribunal consists of top-rated, most experienced freelancers, essentially decentralizing traditional freelance dispute resolution.

The Coinlancer token is now tradeble!

The Coinlancer platform will be live in April, while CL, the platform’s utility token, just got listed on HitBTC with huge upside potential. The price surpassed that of the ICO just 4 days after the exchange listing, outperforming most other tokens at the moment.

Media Contact
Company Name: PEGP ltd
Contact Person: Dhaval Parekh
Email: [email protected]
Phone: + 44 870 8200053
Country: Virgin Islands (British)
Website: www.coinlancer.io