How CryptoTask Plans To Decentralise The Freelancing Market

Decentralised marketplaces are one of the biggest opportunities for blockchain technology.

These decentralised marketplaces provide a platform which enable people to buy and sell goods and services without the need for third party immediacies.

A decentralised marketplace can significantly lower costs for both buyers and sellers improving the process for everyone involved.

But what happens when there are inevitable disputes?

CryptoTask is a new freelancing job marketplace which has developed a unique solution to this problem.

In the process it has created a freelancing platform which can operate on an entirely decentralised model.

Here’s how it works.

CryptoTask makes use of a panel of reviewers who in the case of a dispute determine whether a task has been completed or not.

When a freelancer wants to apply for a job they need to put 10% of the tasks value as a deposit.

This serves two purposes. Firstly, it makes sure that freelancers are serious about the jobs that they are applying for. In a decentralised marketplace it would be possible to mass apply to every single job. This would soon make the marketplace unworkable. By having to place a deposit this problem is avoided.

Secondly, the deposit will be used as payment to the reviewers in the case that a dispute goes against the freelancer.

Holders of the TaskCoin token will be able to participate in a panel of reviewers. In return for volunteering their services as reviewers they will be provided with a small payment regardless of whether a dispute is initiated for that task or not.

When a dispute is created between a freelancer and a client a board of approximately ten reviewers will be formed at random. They will review the situation and provide a verdict.

This voting process will be done in two stages so that the reviewers can not influence one another.

In return for this service the reviewers will receive either 10% of the value of the task from either the freelancer or the client depending on who is found to be at fault.

Reviewers that don’t vote with the overall consensus or fail to pass a vote will pay a fee of 10% of the value of the task. This reason for this penalty is to avoid two problems. Firstly, a reviewer receives a small fee whether they choose to vote or not. As a result there would be an incentive for them to simply sign up as a reviewer but not actually complete any reviewing tasks when selected for a panel. This problem is avoided with the 10% failure to vote fee. The other way that a reviewer could otherwise game the system is to case a vote but not actually review the task properly. This problem is avoided by penalised them if they fail to vote with the consensus of the review panel.

What this provides is a decentralised way of evaluating whether or not a task has been completed. This should be significantly less expensive than a traditional centralised model and have the advantage of being fairer.

You can learn more about how CryptoTask intends to change the way that freelancing is done by visiting:

CryptoTask Website: https://www.cryptotask.org/

CryptoTask Whitepaper: https://www.cryptotask.org/Whitepaper_CryptoTask.pdf