BLUE WHALE - The Decentralized Ecosystem for Self-employed

crypshu (28)in #bluewhale • 6 years ago

Blue Whale Foundation aims to create the earth’s most worker-centric ecosystem. Blue Whale will empower the world’s freelance community by creating the largest worker-centric decentralized ecosystem where independent workers can pursue their passions and get the value for their deserve from the gig economy. Current platforms of this kind currently incur highly significant fees on all work completed, which can make it hard to sustain for a lot of workers in this economy and their profits are being eroded by significant fees. Blue Whale is looking to change this when they get the funds through their ICO to continue development of this platform. Current centralized platforms which have monopolized public resources are getting interrupted by the decentralized network. Blue Whale's W.O.R.K. system is a revolutionary, sustainable cycle that fuels Sharing Economy.

How it works

The Blue Whale “WORK” (Worker Optimized Reward Keeper) System of smart contracts aims to give solutions for n the financial and the legal problems with the gig economy and also for the looming concentration of power in the hands of a few tech giants. This WORK system consists of three main components as Contribution Activity Manager (CAM), Decentralized Associated Network (DAN) and Reward Bank (ReBa).

Contribution Activity Manager (CAM)

There are a number of contributor activities that can make returns for those that are involved with it on the Blue Whale platform. The CAM is responsible to make sure that these rewards are evenly spread throughout the broader Blue Whale ecosystem. There are a number of activities that the community will be involved with. These will, of course, differ based on the type of product as well as a number of other factors. Below are some of these CAM activities:

Referral: Users get rewarded with the referral fee once they are able to effectively refer users to the Blue Whale platform.

Lead Generation: There are also rewards for those who are able to create freelancer leads. They will get a fee if they are able to get other freelancers on the platform.

Curation: This is a very important part of the Blue Whale ecosystem. This makes sure whether the freelancers who come on board the platform are well checked. Hence, participants in Blue Whale are rewarded for their curation efforts. In the curation process, only the most skilled freelancers will be allowed to take part.

Verification: The work produced by the freelancer who came into the platform also needs to be checked for quality. Freelancers who can run quality control checks on the work of the newer freelancers will also get verification reward.
Reputation Scores: The ratings of the freelancers is crucial to the smooth functioning of a decentralized network. Hence, it is essential that freelancers are being rated for their services appropriately. This will help the customers to make the best decision on their service. In order to incentivize rating, those who are doing the rating will be rewarded with BWX.

Decentralized Associated Network (DAN)

The DAN is quite an interesting concept on the Blue Whale platform. It works by collecting specific user data in order to best develop a decentralized advertising network. This will be done by installing a range of tools and SaaS applications on other networks and social media accounts. These will operate as a “node” of the Blue Whale network.
For example, one of those applications is the booking software widget and the booking ad widget. The booking software widget will let the website operators convert the fiat bookings into BWX coins. Then the booking ad widget will allow for particular “windows” to be given for the ads and promotions of others.

Reward Bank (ReBa)

Reward Bank holds the BWX tokens that are due as rewards to the participants on the platform. This ReBa will initially be funded with 20% of the proceeds from the public sale of the ICO. Based on the needs of the community, this ReBA fund reserves will always be adjusted. To disperse payments to the freelancers in the form of Pensions and sick leave for the freelancers on the platform those funds on the Reward bank will be used. There are emergency measures in place that will top up the bank if there is ever a situation when the ReBa falls below a 20% of the required reserve. In this case, it will be the issuance of new coins.

ICO Details

The main token sale beings on the 1st of May and they have a total target of $41.6 million in place. It is an ICON token and the initial price for 1 BWX has been set at $0.0009. There is a total supply of over 105 billion tokens, with 50% of these being available for the token sale itself. The digital currencies accepted for contributions is limited to ETH and ICX.