LaborX, a new peer-to-peer remote on-demand employment service based on the Ethereum blockchain, enables customers and freelancers to arrange work and organise payment in crypto securely, with no unnecessary fees or middlemen.
The lockdowns imposed due to the COVID-19 pandemic have accelerated the trend towards remote working, and more people than ever before are seeking to access freelance opportunities from their own homes.
Smart contract-powered employment opportunities
LaborX provides wide-ranging functionality based on Ethereum’s smart contracts.
The interface is similar to existing remote and on-demand employment platforms, with a user-friendly interface, social login and profile pages detailing users’ qualifications and experience. Anyone can create a profile, post or apply for jobs, or browse freelancers and work opportunities.
However, unlike other platforms, LaborX allows customers and freelancers to formalise their agreements with a digital contract – including key milestones and part-payment for work along the way, if required.
All payments are arranged in fiat-equivalent amounts but settled in ETH for speed and efficiency, with funds escrowed to ensure payment takes place.
Reputation and dispute resolution
The team behind LaborX have taken a modular approach to development, launching key features and building on them over time. The Contract Module enables users to organise work and set payment terms. Meanwhile additional modules are in development, with the Reputation and Dispute Resolution modules already providing basic functionality to protect users.
The Reputation module creates a decentralised score for each user, based on feedback from previous jobs and other key criteria. This is a valuable way for parties to filter search results and ensure they are working with reliable customers and freelancers. Unlike similar centralised platforms, because the system is based on the blockchain, it is resistant to being gamed by fake reviews.
Additionally, the Dispute Resolution module currently provides basic arbitration in the event of disagreements.
These and additional modules will be refined and released in the coming months, ensuring users enjoy a smooth, secure, profitable freelancing career.
With the strict social distancing measures implemented due to the coronavirus pandemic, a large proportion of the world has been forced to work at home or, worse, pushed into temporary or long-term unemployment. LaborX fits into the existing trend of remote work and offers a valuable service at a time when many more people are seeking on-demand opportunities.