It is the era of decentralization powered by blockchain technology and the digital freelance space is not left out as Hirefreehands is expanding its network and outreach with blockchain technology to support growth, quality and cost-effectiveness.
Hirefreehands says its mission is to improve online freelancing by ensuring clients get value for every dollar spent and freelancers receive pay on a fair basis, employing blockchain technology to decentralize the process.
Already with more than 10,000 active users from 10 countries, Hirefreehands aims to bring and maintain quality within the digital freelancing space while achieving scale that will enable every individual and organization across the globe to participate in the wealth of expanding freelance opportunities.
Breakthrough Technology For The Freelance Marketplace
The new initiative employs blockchain’s decentralized platform to enable an emphasis on quality interactions, efficiency, unbiased and decentralized dispute resolution, and enhanced communication.
By decentralizing quality control, Hirefreehands is able to creates greater opportunity for companies and individuals engaged in freelance efforts across the globe. It uses “proof of skill” to allow freelancers to manage recruitment through a blockchain system as well as “proof of process” to support quality control, project management and dispute resolution.
According to Sunkanmi Ola, Hirefreehands co-founder and CEO, the global freelance market is exploding as more individuals seek to share their skills online and more companies take advantage of this skilled labor, representing a significant challenge and opportunity. He added that the company’s innovative platform is designed to make freelancing scalable across the globe while still supporting the highest quality in work, communication and fund transfer.
How HireFreeHands Works
Hirefreehands uses a Price Regulation Algorithm to automatically determine fair prices for jobs, eliminating the need for negotiation and protecting both clients and freelancers from unfair prices.
The decentralized platform uses a jury system for both skill verification and dispute resolution. Further, the KYC system uses blockchain for identity recognition. The expected growth in global GDP from online freelance platforms is $2.75 trillion by the year 2025, according to a McKinsey Global Institute Report.
All of this enhanced technology serves to simplify the process of finding a freelancer or performing freelance work, Ola added.