Freelancing is going to be the preferred method of work in the modern economy. There won’t be any fixed hours and teams would be global, life would be much simpler and efficient.
Although there will be one issue, that a lot of freelancers and clients do experience.
The rise of scammers
Whether on the client’s side or freelancer’s side, both get scammed quite frequently.
So what’s the solution you may ask?
The best solution in these cases could be an escrow, but trusting an escrow is a hard thing to do and verifying that the escrow is unbiased is merely impossible.
Well, I’ve got an idea, we can solve this problem using blockchain.
Yesterday, I was chatting with a few devs regarding escrow smart contracts and how useless it is, after all even though it’s a smart contract it still needs a central authority(escrow) to work and to be unbias. That’s when it struck me, why don’t we build a web3.0 platform wherein people could hire and rate escrows, keeping everything decentralized. To become an escrow you won’t need any qualifications all you will need is to buy and stake our tokens. The staked tokens could further be used as collateral in case an escrow tries to scam and flee away.
Majorly people in crypto prefer to stay anon, whether they are clients or devs. So using metamask to register instead of your email address, KYC etc would be a huge leg up over services like Fiverr and Upwork.
The more amount of funds an escrow stakes, the bigger transactions he/she could take part in and similarly bigger incentives they would receive, and for every correct transactions escrows would start getting ranked higher.
So that’s why escrow scamming in these cases would be next to impossible. Everything from escrows getting rewards to freelancers getting paid, everything will be done in our platform’s native token, building an enormous deflationary pressure for the token.
TL;DR – A decentralized web3.0 platform for hiring and rating escrows, with a mechanism that helps to avoid any scammers with the use of the platform’s native token. Keeping everyone Anon(if they wish to) at the same time.
This idea is fairly new and I know a lot of improvement could be done in this. I would love to get all sorts of feedback on this in the comment section or dms.
I see this as a huge opportunity as freelancing is here to stay and is growing at an enormous rate. There is a huge market for escrows and this can be a very tremendous project.
I myself am a Smart Contract Developer for past 1 year, learning every day and looking forward to leaving a mark in the field of Blockchain.