ETHEARNAL – disrupting the gig ecosystem: No limits, It’s just business!!!

cmanuel (25)in #cryptocurrency • 6 years ago (edited)

Sometime ago, I offered my service on bitcointalk.org as a full-stack web developer and a client reached out to me to design a betting site. While trying to conclude the deal, I had a pinch to research my client; lo and behold, he had several copies of dummy sites up and running. And all I could think of was, 'why waste my time'. The websites that were designed for him were not that bad... but I could tell he was choosy and for the amount he was willing to pay, it won't be worth the hustle.

There’s a new disruptive ICO in town, it’s the Ethearnal project, a gig peer-to-peer game changer platform that is set to disrupt the conventional system of job freelancing.

The market shares of this economy range in the value up north of $1.5 trillion USD. No doubt this figure has a huge impact on the global economy, as a global trade facilitation of over a trillion dollars is a plus and should not be taken for granted.

All over the internet, we see different job offers that people can do on their terms and at their convenience provided they can deliver what the client demands. This platform is ready to take this economic niche to the next level, to guide the next generation of freelancers into an ecosystem of enhanced financial liberty. Also by using ICO 2.0 features, they will r(e)volutionize coin offering events - the cherry on top.

In the past year over $3.5 billion USD has been raised using Initial Coin Offering. Howbeit, this has only been possible due to the influence of freelancers distributing their services across the globe. From technology, administrative support, content writing, multimedia presentations, communication facilitation, sales and referral programs to a whole new level of crowdfunding activities enhanced through bounty programs.

Basically, these gigs have paved the way for people to expand their financial capabilities through multitasking, diversification and diligent investment in time and internet-enabled resources.

Really, that’s all you need when it comes to internet gigs; a time investment strategy, a durable power supply and an internet-enabled device. With these items, a person can truly work from home or anywhere else of convenience and become millionaires.

Freelancers are a huge success in/to the internet industry and will continue to remain so for a long time to come. Freelancing makes internet skill acquisition worthwhile.

Another favorable reason why major companies turn to freelancing to executive certain types of jobs is that of the ease and cheap services that are offered within the industry. More so, one gets a global perspective and a competitive supply for the job offers. So ‘may the best man win’. This way companies would not need to worry about the outcome because they would expect and receive the best results anticipated.

Problems with Freelancing

As good and jolly-spirited a person new to this economy may feel, it’s not all peaches and cream. This industry also faces its own challenges that in many cases have either deterred many individuals or caused the interference of arbitration. And we all know that this system – the arbitrary system isn’t flawless, as human factors and conditions make it difficult to really benefit from a fair trial.

More so, the system of middlemanism has really brought about a distinct problem with this industry as people on either side of the gig negotiating table, have little to no idea on what’s going on on the other side.

It’s not that the centralized systems are that good, it’s just that, the current dispensation of technology – the era of the decentralized internet is way better and makes it even more autonomous, and reliable.

Other interesting challenges that are common to this sphere include changes that come up without compensation, on either side, such as changes in deadline date, modification of expected results contrary to original agreements, dissatisfaction with completed jobs which could lead to several revisions – unpaid and prolonged, payment options channels, payment fees and terms and many more major and minor problems that impede on the success of smooth internet business with regards to the gigs.

So what's Ethearnal really all about?

Ethearnal is a peer-to-peer freelance platform that encourages the listing and engagement of gig contracts through turn-key executable smart contracts, reputation systems and escrow vantages.

Like that? Good!

What it means is that, basically, from the time this platform goes live;

No more centralized obstructions to smooth freelancing operations.
Deals are binding through smart contract protocols.
ICO’s can now be more efficient in their crowdsale events due to more trust-counts.
Reliable failsafe embedded into the smart contracts – nothing lost nothing gained if the deal goes awry.
Arbitrary systems that reward its users (moderators).

What intrigues me the most is the application of ICO 2.0 through their platform model. They will pave the way into a new era of crowdfunding that is built on a trust-to-trustless system design.

When they are through with the project, they would have built a niche for themselves and surpassed all the current working systems within the freelancing ecosystem.

How the platform works:

The platform serves as a meeting point for both freelancers and employers. Employers list their job offers on the platform and decide whether or not reputation stakes should be involved and the amount. The freelancer browses through the lists of available offers and based on his skill and expertise selects any of the jobs offered which he can handle once he evaluates the terms of the agreement.

ERT stands for Ethearnal Reputation Token. Reputation stakes are in form of ERT tokens that ensure that both parties will adhere to the contract terms set by the employer.

Yes, ERT makes it happen; as it acts as a double-edged sword in that, the more tokens you stake you try not to lose it, and prompts you to deliver on the terms promptly. However, if both parties decide to annul the agreement, they both can come to a consensus and the contract is terminated with nothing lost from the deal – both reputations staked and gig rewards are returned to the respective owners.

If all goes well between the employer and the freelancer, a 1% deductible value of Eth or price value of the contract is used by the platform to purchase ERT on the open market, thereby creating a cyclic pool, whereby the system sustains itself and increases its own worth on the open market.

In case of dispute, the moderators can step in and can earn from the output of the resolution, this way they earn tokens too. Another important feature of this platform is the way the ICO 2.0 operates. Token holders control how the team spends their funds in the development of their project. In other words, team members will not relax despite successful crowdfunding. They will have to be on their toes to ensure they deliver on the terms of the agreement, and should they default, a single token holder can initiate a refund process. Awesome!

Competitions:

No doubt there are other platforms out there seemingly providing solutions to freelancing problems, such as blocklancer, freelancercoin, coinlancer, boontech, to mention a few. But what stands Ethearnal out is their ICO 2.0 platform service. You could do your due diligence and make a comparison.

Crowdsale Analysis:

Their token generation event (TGE) will take place between 28th of February 2018 and 1st April 2018, with the deployment of ICO 2.0 smart contract. The ERT is the utility token of the platform and will be used to stake reputation.

With a total token of 40,000,000ERT emitted they will try to raise the sum of 30,000 ETH (equivalent to $30 million USD at the current price) by offering 75% of the tokens up for sale during the pre-sale and main sale. At the rate of 1ETH = 1,000ERT.

They will be accepting Ethereum during the token sale event, so get your wallets ready. If you haven’t subscribed for the whitelist yet, what are you waiting for Hop in! The roadmap is quite promising.

Team Structure:

The have quite the resourceful team members who can take on the job squarely. Hopefully the synergy created from the different fields of expertise brought together by this project will compound into their success.