LaborX: blockchain freelance platform
labor-x

LaborX: blockchain freelance platform

By JuliaBeyers | Trading Automation | 27 Apr 2020


The ability to work from anywhere in the world will not surprise anyone. Moreover, in the light of recent events, the sphere of remote work is gaining more and more popularity. However, this type of commercial relationship has its drawbacks: low guarantees of the reliability of the contractor, the risk of not getting paid, difficulties with international transfers ...

On the other hand, there is blockchain technology, which allows you to pay for services from anywhere in the world, with a high transfer speed and low commission. And smart contracts based on this technology greatly simplify the implementation of agreements.

 5ea6a1875981a.png

What will happen if you combine these two segments of the Internet? We will receive the LaborX project, thanks to which any specialist will be able to receive payment for their jobs in cryptocurrency. And the capabilities of this platform are not limited by the payments possibilities only.

LaborX is a startup based on the Ethereum ecosystem using smart contract technology. It allows you to specify in the contract the deadlines for the work and the conditions that the applicant must fulfill in order to receive payment. When signing the contract, the system makes a conditional digital escrow, blocking the amount of payment. It arrives at the account of the contractor, after completion of the transaction, if he has fulfilled all the requirements of the customer.

 5ea6a1349d0d7.png

Due to this, the risk of delayed payment or a dispute between the employer and the applicant is minimized. If a controversial situation still arises, users can attract administration of the platform or a third party for arbitration purposes.

 A transparent rating system is based on reviews and documentary evidence of the qualifications and reliability of participants in transactions. Thus, the employer can be confident in the professional suitability of the contractor, and the latter is sure about the reliability of the employer.

Contractors can receive payment for their services in several cryptocurrencies. First of all, this is Ethereum - one of the most popular and liquid coins. Besides, the system supports transactions in stablecoins USDT and USDC. Their rate is tied to the exchange rate of the American dollar and AUDT, which is secured by the Australian national currency. The platform allows you to pay with the TIME token, which was created by the Chronobank company.

The appearance of LaborX is a historic event, both in the crypto industry and in the field of freelance. The platform is developed using all the potential that blockchain technology now possesses and provides users with optimal conditions for remote collaboration.


 

How do you rate this article?


1

1

JuliaBeyers
JuliaBeyers

Acquiring a wealth of experience in writing articles on trends and prospects for the development of the game industry in the world I I've found myself as a Freelance Journalist. I am writing now about blockchain and cryptocurrencies trends, sometimes cove


Trading Automation
Trading Automation

Everybody is familiar with the term “trading”. Most of us have traded in our everyday life, although we may not even know that we have done so. Essentially, everything you buy in a store is trading money for the goods you want.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.