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As Artificial Intelligence (AI), Robotics, The internet of things (iOT), blockchain and Web 3.0, 3D printing, quantum computing, and more continue to advance into the components that are fast shaping the 4th industrial revolution, there is no denying that there have been transformative changes In the demand and supply chains, in the ways employees will perform organizational tasks, in how organizations are digitally interfacing with their customers.
Long before the COVID 19 Pandemic started, the workforce or labor market witnessed a growing percentage of employees taking the route to solopreneurship; Simply put, "I no longer work 9-5" because of the flexible working opportunities presented by new digital technological applications. Freelancing became a fast-evolving industry when people realized they can be the masters of their own time, break away from the horrible habits of making life miserable with office politics, be free to work from their dining table, coffee shops, inside their kitchen, by the poolside, in a hotel room, the power to chose the client to work with, and never go broke again.
Meanwhile, during the pandemic period, the number of freelancers in the United States workforce alone grew to an all-time high record of 36% making 59 million freelancers. Although the numbers may have significantly dropped since the global administration of Vaccines took full effect all in a bid to return to normal life, one thing that did not return to normal is the way employees embrace the 9-5 working structure since remote working has proven to be quite favorable to both employees and organizations. Apart from the above, the post-pandemic has forced entrepreneurs and leaders to begin to consider a Hybrid-workforce structure to encourage work flexibility for employees who consider working from home more suitable for them.
Digital Freelancers Hubs and emerging disruptive digital freelancing applications.
gig economy was reported to have grossed $347 billion in 2021 and is expected to reach $455 billion by 2023, which means that digital freelancers platforms have been playing a huge role in connecting freelancers and clients globally in the evolving industry. While that is true, many platforms are jumping into this industry for a piece of the pie with Upwork, Freelancer.com, Fiverr, and a few others pioneering the industry. Upwork for example has over 12 million registered users consisting of freelancers and clients since its inception in 2015 while Freelancer.com has 59 million registered and over 21 million jobs posted. Pretty looking numbers for the big players huh? Well, blockchain-based startups are in motion to disrupt the freelance economy with taking the lead in changing the way freelancing will look in the future by leveraging on the robust advantages of web 3.0.
HYVE is a blockchain-based freelancing platform that allows both employers and freelancers to work together in a safe way. HYVE offers the most secure marketplace for people to browse profiles of freelancer candidates and hire them, as the payments are always escrowed, furthermore all the payments are instant. HYVE can also be used by service providers who are looking to offer their services through a marketplace, making it both easy and safe to find new clients. On top of that, HYVE has the lowest fees out of all freelance platforms, more collaboration methods, built-in dispute system and event management tools to make handling employees and contractors an easy feat.
The traditional platforms like Upwork are known for collecting a high commission rate per job or task completed, deducting as much as 20% from a freelancer's take-home pay is a large chunk to let go. Whereas on the HYVE ecosystem, fees are as low as 1% when a task is paid in HYVE, 3.5% when a task is paid is USDT/BTC/ETH a,nd 9% when tasks are paid in some altcoins More interestingly, the fees generated from the platform's transactions are given back to the community as rewards for supporting the HYVE ecosystem while a percentage is burnt and removed from the total in circulation making HYVE token a deflationary model. It doesn't stop there, HYVE infrastructure uses decentralized finance protocols powered by blockchain, and web3 to eliminate intermediaries against the traditional structures that rely on a centralized infrastructure which takes away such freedom from users.
On the HYVE platform, offers are posted for free, but this is not the same with all centralized freelancers platforms like Upwork where offers are posted at a fee. It's also noteworthy that Hyve Platform is built for seamless, borderless, trustless, and secured business interactions between freelancers and employers globally. For example, borderless here means that the platform onboard everyone from any part of the globe with services to sell (any form of legit digital services), it's no more a barrier for countries where Paypal doesn't work, by leveraging on the power of blockchain the unbanked are connected.
About dispute settlements, unlike centralized platforms, there are numerous cases of disputes biasedly resolved by the platform's employees and slow to reach an objective resolution, in some or most cases refunds take up to 30 days to be facilitated. HYVE partners with the a blockchain-based platform using the decentralized protocol to offer Justice as a service, with 762 active jurors online a,nd 11 jurors are randomly chosen and assigned to HYVE to settle disputes as they occur.
The HYVE token is the fuel that keeps the ecosystem running, one of its key functions is Governance, which gives holders the power to make decisions about the ecosystem or protocol. Holders of HYVE can also stake and earn passive rewards within the HYVE ecosystem. HYVE is a multi-chain project that has deployed its smart contracts on the Binance smart chain networks, with Polygon smart contracts next to be deployed anytime soon, more chains will be also be supported as the platform continues to develop.
As the inevitable Web 3.0 continues to reshape the financial system and our daily social-economic activities, it is quite clear that centralized-based digital applications are either looking in this direction or fast becoming obsolete and unable to compete especially to meet the demands of the iGeneration. The future of digital freelancing begins with platforms that are building infrastructures that are supporting existing and emerging digital skills services, breaking geographical boundaries, and eliminating intermediary bureaucracy. That's the HYVE Ecosystem.
Learn more about HYVE
