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Finding a viable solution to fight scammers in freelance. Constructive Feedback is encouraged.

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.

What do you think?

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4 Comments

  1. I think escrow can be done quite well in the crypto space tech wise. That said, as a freelancer myself, it’ll be hard to write escrow contracts that I’ll actually be confident in agreeing to. Thats for a couple reasons.

    1) If other freelancers aren’t locking up their money in escrow, why am I?
    2) Who decides if my work counts as high quality work or if my work isn’t worth paying for?

    I also think a lot of the protocol you propose assumes that it’ll be easy to establish what a scam really is. Are you defining it as a rug? A malicious line of code? Just bad code? And how do you communicate that info to the chain.

  2. > trusting an escrow is a hard thing to do

    Not quite though, I am a freelancer and I know other freelancers, and no one I know has this problem or complains about escrow trouble. Also getting scammed in freelancing is not really frequent, at least on the good platforms

  3. I had some similar ideas for a reputation system(generic).
    Similar to stackoverflow, both parties build reputation(may be a rep token) . Each award or slash will need a spend (rep is burnt for the reporter, and a downvote recorded for the defaulter) so that there is a cost to any action.
    With time, and enough history, such bad actors come down.

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