Millions of workers worldwide choose to freelance, thanks to the rising popularity of the gig economy. The gig economy is set to hit $12 billion in 2028, but could blockchain technology be at the epicenter of this growth? In this post, we discuss blockchain’s potential impacts on the gig economy and how it can contribute to its development.
Payment Processing
Payment processing is among the most significant challenges that freelancers encounter. With traditional payment methods often expensive, slow, and unreliable, freelancers frequently have to wait days or even weeks to receive their earnings. Blockchain technology provides a more efficient system that eliminates intermediaries like payment processors and banks.
Blockchain enables a direct payment system between clients and freelancers, lowering transaction costs. Crypto payments also offer cheaper transaction costs and higher security. This fast-tracks the payment process, allowing freelancers to receive compensation instantaneously.
Identity Verification
Clients and freelancers want to ensure the authenticity and credibility of those they work with, and blockchain technology helps solve this by offering a decentralized and secure identity verification approach.
Blockchain enables freelancers to create immutable digital identities that are stored on-chain, allowing clients to verify freelancers’ identities instantly. This eliminates costly and time-consuming background checks and also lowers identity fraud risk.
Transparency via Smart Contracts
A smart contract is an agreement between two parties written into lines of code and programmed to self-execute automatically when predefined criteria are fulfilled. Deploying this technology in the gig economy will automate the contract process, increasing efficiency and reducing the risks of disputes.
Clients and freelancers can agree on the contract terms, which are stored on the blockchain, and self-execute automatically once the contract terms are fulfilled, releasing payment to the freelancer.
Decentralized Marketplaces
Developers can leverage blockchain technology to create decentralized marketplaces like the new crypto platform, Uwerx, where clients and freelance professionals can connect directly, thereby eliminating the inefficiencies of traditional freelance platforms.
What Is Uwerx (WERX)?
Uwerx is a soon-to-launch Web3 freelance decentralized marketplace that will deliver all the great features of traditional freelance marketplaces without their inefficiencies.
Built on the Ethereum blockchain, Uwerx will deliver secure and transparent business engagements between clients and freelancers while offering verifiable identity proof and protecting intellectual properties.
The platform will also offer exciting features like gamified incentives (sign-up and performance bonuses), collaboration tools, personalized matching, and dispute resolution to deliver a cutting-edge user experience.
When the project launches, it will allow freelancers to earn in its native utility ERC-20 token, WERX, which can be swapped with other ERC-20 tokens on Uniswap (UNI). This means that Uwerx is a decentralized marketplace and a complete DeFi ecosystem.
Uwerx has already secured audit approvals from InterFi Network and Solid Proof. With well-structured tokenomics, Uwerx will offer 300 million WERX coins of its 750 million total token supply in multiple presale rounds starting at $0.005/WERX. Post-presale, Uwerx will lock developers’ liquidity tokens for a 25-year period to prevent scams and ensure the security of investors’ funds. The team has taken an extra approach to guarantee maximum security to prevent rug pulls by announcing its renouncement of smart contract ownership when taxes reduce to zero.
Post-launch, the value of WERX is predicted to reach $1 in Q3-Q4 2023. This is a 200x leap from its starting presale price. In comparison, fellow Web3 token like The Sandbox, which trades at $0.68 at the time of writing, is predicted to reach $0.89 within the same period — a mere 1.8x increase. To join the Uwerx presale, follow the links below.
Presale: invest.uwerx.network
Website: www.uwerx.network
Telegram: t.me/uwerxnetwork
Twitter: https://twitter.com/uwerx_network
Disclaimer: This is a sponsored article. The views and opinions presented in this article do not necessarily reflect the views of CoinCheckup. The content of this article should not be considered as investment advice. Always do your own research before deciding to buy, sell or transfer any crypto assets.
