MakerDAO Provides Grant For Opolis, DAI Stablecoin To Be Integrated On Freelance Platform
MakerDao, the issuer of the DAI stablecoin, has released a developer grant for Opolis, a blockchain-based freelance employment platform. Through this grant, MakerDao will enable Opolis users to use the DAI stablecoin for the processing of payments. Freelancers on the platform and their employers will now have the choice to execute payments for work done using MakerDao’s stablecoin. Membership fees for the blockchain platform can also be paid using DAI.
According to Richard Brown, the head of community development at MakerDao, freelance work comes with a range of risks, and they plan on using DAI to reduce these risks for both freelancers and employers. MakerDao is a decentralized autonomous organization (DAO), which is entirely managed by contracts and code. The partnership between MakerDao and Opolis will see the latter become able to offer its clients several new services such as health insurance, retirement plans such as those found in traditional work systems, tax compliance automation, and cryptocurrency.
The Growth of Freelance Work
An increasingly digital economy and connections enabled by the internet has led to the growth of freelance work. More people can work remotely in several professions on a freelance basis. Many professionals prefer freelance work because it allows them to determine their working hours and the money they get paid for the work that they do.
Several big-name companies around the world are employing freelance workers in a bid to get the most from the workforce across the globe. 30% of Fortune 500 companies make use of the popular freelance platform, Upwork, to hire labor for various departments of their companies. The hiring of freelance workers is more prevalent among tech-related companies as they seek to develop technological applications for various parts of the world.
Opolis Creating Better Opportunities for Freelancers
Blockchain technology is fast becoming a part of the mainstream, and Opolis has gotten ahead of the freelance market players by creating a blockchain-based platform for this field. The availability of an option to be paid in crypto on the platform will attract freelancers who are interested in crypto trading. The millennial generation forms the bulk of participants in both the freelance economy and the crypto industry. A platform that combines the two meets the demands of several individuals in this group.
Cryptocurrencies remove several obstacles that are created by traditional financial systems and may hamper freelance work. Through the use of crypto, it becomes cheaper and quicker to transfer funds from one account to another. This means that both employers and freelancers on Opolis will pay less in terms of fees. This money could be channeled towards the further growth of the freelance economy.