NEW ERA OF FREELANCING. PAYPERBLOCK ICO rating – not rated.
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PRE ICO Dates : 06/08/18 – 03/09/18
About PAYPERBLOCK ICO (token sale)
PAYPERBLOCK is a blockchain-based freelancer platform for blockchain experts, which is owned and operated by Payperblock Ltd and is used to connect professionals and jobs. The primary customer pool for the company includes freelancers who are blockchain experts and organizations.
The freelancer-base for the Payperblock includes blockchain experts who are skilled and active across different eld of business and a variety of industries such as contract developers, software engineer, website developers, 3D mockup artists, writers, digital marketing personnel and remote assistants. The business will start from Finland and will later expand to other countries as the business model allows expansion to global business market.
The company headquarters is located in Oulu, Finland, as the city is rich in terms of talent and resources for the technology industry.
Freelancing is one of the fastest growing industries in the world, and the industry is already worth more than $1.5 trillion in revenue per year. Over 77 million people on the global scale identify their primary employment as a freelancing job.
Even though an overwhelming majority of the freelancing work happens on digital freelancing platforms, the basic structure and service model of the freelancing platforms has remained largely the same.
Almost all traditional freelancing networks su er from an inherent issue in the basic model of freelancing model, and this impacts the overall performance of the platform as well. Some of the most notable and inherent issues with the conventional model of freelancer platforms include the following:
- A centralized authority exists in the organization that raises concerns among freelancers about fair dispute resolution and justifiable policy changes.
- Getting paid can become a chore in many cases if the client is not supportive.
- The issue of unjust negative reviews left by clients or freelancers for reasons like personal bias or frustration.
- Payment for work is not always guaranteed.
- The fee for using the platform service can be very high in many cases including the costs related to creating a contract, accepting a contract, a share of the payment received, currency conversation and withdrawal fee.
Payperblock operates on the same functionality principles as the popular cryptocurrency Ethereum. Instead of relying on a centralized authority system, Payperblock employs a distributed network of token holders (ICO investors) in the company.
The distributed model is also used for storing transactions on the freelancing network and verifying each transaction. The potential for growth of the Payperblock platform is huge as it removes the potential of bias in the dispute resolution system, provides more fairness and transparency, and offers significantly lowered fees.