LibertyLance: A Blockchain Based Gig Marketplace

LibertyLance, an advanced freelancing platform has absolutely revolutionized the world with its modernized approach to freelancing. Almost 55 million individuals are engaged in freelancing profession. In the U.S. almost 35% of the workforce is indulged in freelancing. Thus, it becomes necessary to address even the minute problems of existing freelancing platforms which successfully LibertyLance does.
LibertyLance is altogether a different platform from existing freelancing platforms as firstly it is based on Ethereum Blockchain technology and secondly it is a decentralized system. Therefore, it is also termed as ‘Distributed Autonomous Gig Marketplace’. Moreover, the token holder Tribunal is considered to be an ombudsman that is required to solve the problem of conflicts among freelancers and clients. Apart from this the platform is wholly governed and regulated by smart contracts. The voting procedure has also enabled the token-holders to participate in an incentivized manner in the decision-making process between the client and freelancer.
How is the market economy changing with LibertyLance?
Nowadays, ‘gig economy’ is on its rise as people are tending towards the comfort zone and they have also become habitual of the sedentary lifestyle. Gig economy is simply defined as the economy handled by the short-term contractors and independent contractors. Moreover, as the technology is integrating the whole world together freelancing is becoming a new trend.
Some of the problems that existing platforms don’t address:-
· Timely and Assured Payments: The existing freelancing platforms work on a centralized platform and there is no surety of getting the payments if the client is not satisfied with the freelancer’s work. LibertyLance has automatized the process of releasing payments through smart contracts. The client has the authority to question if he is unsatisfied with the task. If no parties agree then the decision is taken through the Token Holder Jury.
· Conflicts Resolution Mechanism: There is no facility existing which can help in solving the problems of freelancers and clients if conflicts arise. LibertyLance also addresses this issue and therefore, whenever any dispute arises between the freelancer and clients the Token Holder Jury solves the conflict between them.
· Low Transaction Fee: The freelancing platforms like Upwork and Fiverr charges very high amount in order to increase the value of shareholders. But, LibertyLance charges only 2% of the contract’s fee which is negligible as compared to that of other platforms that charge up to 30%.
All these attributes are contributing to the platform’s responsive nature. It has made the platform accustomed to people’s requirements and also checks the issues which present-day platforms doesn’t take into account.
What makes LibertyLance preferable and a better workplace?
There are many reasons which prove the best reasons to explain the rise of gig economy. In today’s digital world, there is no single zone which is far from the impact of it. Therefore, the main reason behind the growth in gig economy is technology which has created those kinds of models which challenge the existing platforms.
· The ultimate reason behind the success of LibertyLance is its LTN Token. It can also be considered as the backbone of the platform. Token holders are given rewards and incentives to those that ensure that the platform’s voting system is functioning smoothly and well-ordered.
· Another trait of LibertyLance which has pumped-up the gig economy is the Blockchain Technology. Blockchain technology has eased the process of LibertyLance as it has enabled the decentralized administration of the platform. In this, each block is appended with data and further linked with the other blocks. Thus, making the chain consisting of blocks. Here, every transaction is recorded which is inevitable and tampered-proof.
· LibertyLance is an Ethereum-based platform which enables the smart contracts which automatically verifies the transaction and thus the novice users can easily connect with the interface. Using LibertyLance, individuals can find the jobs and thus, those gig marketplaces which are centrally administered can be avoided.
· The new Crypto-Economic Model has also enabled the Token Holder Jury which can easily provide the solution to settle the disputes between the freelancer and clients. The voting procedure is followed to decide on any issue. In fact, promising token holders can also earn the money through rewards.
· UX/UI Interface has also facilitated the mobile users to get benefit out of it. The Android and iOS users can also use this platform to find the gigs. Thus, the reach of LibertyLance is unlimited and ubiquitous.
What to expect in future?
The technology is giving a new shape to the world and blockchain is the cutting-edge technology which has transformed almost every existing platforms. The freelancing platform tasks such as application procedure, payment releasing process, and conflict resolution mechanism etc have become easier and simpler with the blockchain enabled LibertyLance platform. Although the system is decentralized yet it is controlled in nature. Now freelancers are in control in terms of money, time and work.
The day is not far when the existing platforms will completely vanish from the web and blockchain enabled platforms will fill those empty places. These new platforms will surely put a great impact on gig economy. The consequences are yet to be seen but there is no doubt about its growth. The developed economies are already focusing towards the creation of temporary jobs, thereby leaving behind the conventional 9 — to — 5 job workplaces. This is because they are more concerned about the completion of work and not the workplace. LibertyLance is the platform which is successful in fulfilling their desires.
Hence, LibertyLance is soon going to be the backbone of freelancing and the ultimate platform to take the gig economy ahead.
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