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The freelance industry has taken global talent recruitment by storm. According to recent statistics, freelancers in the United States could reach 73.3 million in 2023. This is predicted to reach 76.4 million in 2024.
Technological advancement can be credited with this growth, with online freelance platforms like Toptal and PeoplePerHour hosting freelance gigs worth billions of dollars annually. But what value do they add to the freelance economy?
Summary
How Toptal and PeoplePerHour Contribute To The Gig Economy
TopTal
TopTal is operational in over 140 countries, catering to 21,000+ clients. The freelance platform attempts to address the issue of low-quality work across other traditional freelance platforms. Toptal screens and only accepts the top 3% of freelancing applicants. This appeals to businesses and well-funded startups looking to hire highly skilled professionals at competitive rates. However, TopTal’s biggest drawback is that it excludes most of the freelance market, as 97% of freelancers are never allowed on the platform.
PeoplePerHour
PeoplePerHour is one of Europe’s leading online freelance marketplaces, with over 1.4 million users scattered across the U.K. and the world. Unlike TopTal, PeoplePerHour accommodates different fields and niches and offers a broader range of skill levels. According to the platform’s official website, freelancers have completed over 2 million gigs, serving clients across 212 countries and earning over $256 million.
Both TopTal and PeoplePerHour lock clients’ deposits from the start in escrow accounts to guarantee payment. However, despite their popularity, these freelance platforms have struggled to resolve some persistent issues. One of the leading issues plaguing these freelance marketplaces is payment processing. Making efficient and timely payments to millions of freelancers across multiple countries has proven to be challenging.
A new tech solution promises to revolutionize the gig economy and deliver answers to these challenges. With minimal costs, lightning-fast payments, and innovative incentives that improve user experience, blockchain-based alternatives aim to provide a brighter future for freelancers and employers.
How Blockchain Technology Can Disrupt The Freelance Economy
Blockchain technology is already disrupting sectors like banking, healthcare, logistics, and even money transfers, so what about the gig economy? Blockchain technology aims to improve freelance services in three key ways:
- Provide faster, more efficient payments with cryptos,
- Eliminate intermediaries’ fees, and
- Use tokens and smart contracts to offer new incentives for an improved user experience.
A New Freelance Blockchain Project In Town
Introducing Uwerx! Uwerx is an Polygon-based soon-to-launch freelance crypto project that will attempt to fix the various challenges facing the freelance economy, including control by middlemen, transactional bureaucracy, lack of trust, and copyright violations.
Uwerx will achieve this by offering exciting features like gamified incentives (sign-up and performance bonuses), built-in collaboration tools, transparent pricing, and built-in dispute resolution. Unlike TopTal, Uwerx will accommodate a broader range of skill levels while using its personalized matching feature to determine the best fit for clients and freelancers.
With a proposed well-structured tokenomics and audit approvals from InterFi Network and Solid Proof, Uwerx will launch its ICO to offer investors 300 million of its utility ERC-20 token, WERX, across multiple presale rounds. The presale price is currently $0.0025 per WERX coin. Uwerx will also establish a 25-year locking period to secure investors’ funds by locking developers’ liquidity tokens. In other news, the Uwerx team will renounce smart contract ownership of the project when taxes hit zero to also reassure investors about the project’s security and prevent potential rug pulls.
When the project launches, freelancers will be able to receive compensation on the platform via the WERX token, which will be tradable with other ERC-20 tokens on Uniswap (UNI).
We believe that the prospects of Uwerx look exciting in the face of other Web3 tokens. The value of Uwerx is predicted to exceed $1.7 in Q1-Q2 2024. In contrast, Conflux (CFX), a Web3 open-source blockchain ecosystem for dApp and DeFi development, could reach $0.69 within Q1-Q2 2024 from its $0.44 value at the time of writing. Comparing both Web3 tokens, that is a 33,900% and 57% growth rate for Uwerx and Conflux (CFX), respectively.
To learn more about the Uwerx presale and how the crypto project will drive more growth in the gig economy, follow the links below to find out more about the purchase bonus of 20% and the launch of the Alpha version of the platform.
Presale: invest.uwerx.network
Telegram: https://t.me/uwerx_networkÂ
Twitter: https://twitter.com/uwerx_network
Website: https://www.uwerx.networkÂ
*This article was paid for Cryptonomist did not write the article or test the platform.
