ICO of the Day

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Nowadays freelance platforms have three key problems that haven't been solved so far. The first and the most critical issue is fake reviews. Yesterday's student-engineer can turn into a professional with a 10-year experience in interior design in a couple of days by simply buying an old account and winding up positive reviews. It is practically impossible to check his account. The next problem is the security of transactions between a seller and a buyer. Third party guarantor services charge a huge commission of 10%. When the amount is in hundreds of thousands of dollars and a seller doesn't really know a buyer, it becomes just like playing Russian roulette. And the third, not so significant, but nevertheless tangible problem is the strong centralization of freelance exchanges. If you are a freelancer, then the service guide in one click can deprive you of work by deleting the account from the portal without explaining the reasons.

Blockchain can solve three of these problems at once. The technology of digital identification or the so-called Proof of Identity will eliminate the possibility of registering more than one profile for the freelancer, which will make difficult and unnecessarily expensive reviews. All your favorite smart contracts are what you need for a secure transaction service. The composition of the arbitration and its decisions can be formed in a decentralized manner, due to which the commission for the transaction will be minimal. Accounts of freelancers and customers must be stored in the blockchain, so that everyone can easily transfer his profile to another exchange (with all reviews and transaction history) and not be dependent on one freelance service. As the crypto-kitties have shown, it is difficult though it is possible to implement it technically.

The above model is so obvious and easy to understand that it is quite surprising why no one has implemented such service in practice so far. Although attempts have been and are being made (for example, BitJob), the closest thing to the real product came from the Blocklancer project from the Austrian development team. The project has a beta version of the platform, a high-quality international team, an adequate roadmap (platform release already in the second quarter of this year).
Blocklancer token sale started on January 16 and will go until February 28 or until the hardcap reaches 10 million dollars. The exchange rate is 15,000 LNC tokens for 1 ETH. To date, 2,113 ETH has been raised, the softcap has been successfully overcome.

Conclusion.
According to Blocklancer business model, token-holders will earn on commission, which the project charges for transactions and additional paid services (such as allocation of vacancy). The founders have prepared a separate business plan, in which they explain in full details how they are planning to earn money. The distribution of funds, according to Whitepaper, is quite standard - 78% of tokens have a public turnover, 20% goes to the team. Of all the projects that I've seen in the recruiting field, Blocklancer is a clear favorite.

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Sunday, 19 August 2018

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