How Blockchain Could Change Online Work Platforms for the Better

The rise of the internet and global connectivity has brought about countless opportunities for people all around the world.

Regardless of the region they belong to, any individual who has the capability to perform high quality work – that may be shared digitally – can now make use of a virtually unlimited pool of opportunities.

While this online medium benefit those who seek to find chances to work and turn their skills into livelihood, it also doesn’t leave employers behind. With a larger pool of workforce options, minimized operational costs and high quality of work, employers receive just as much advantages as employees do.

From freelancing to monthly contract arrangements, and from commission-based work to full time employment, remote workforce management has emerged as a highly credible and effective platform for effective individuals.

With the emergence of blockchain technology as the potential new layer of the internet and the world wide web, it seems that segments such as online work may evolve for the better.

The Current Problems With Online Work
Plenty of online staffing platforms currently exist and operate in a viable manner. Upwork (formerly Elance), Fiverr, and Freelancer are some of the most popular names in this sector. Yet, as many opportunities as they bring to the table, they still contain their drawbacks.

The common problems of sky high service charges and poor mediation serve as common problems throughout these different platforms. Connectivity, credible user ratings and most importantly – trust in regard to payment remain as a few of the most crucial issues.

With blockchain’s connectivity, transparency, and trust-less payment features, these problems may be mitigated.

How Blockchain Could Help the Online Work Sector
While it may have been amplified by the cryptocurrency sector, blockchain has now evolved into plenty of other use cases.

From sharing transparent information regarding global transactions in one place to recording highly verifiable data sets; and from ensuring high speed data transmission to bringing the power of true decentralization, the technology holds so much potential that it may help to change many different industries.

With these use cases being already applied to the resolution of the online staffing problems, it wouldn’t be incorrect to state that this could very well be one of such industries that blockchain is set out to change for the better.

Here are a few benefits that blockchain could bring to the table for online workforce platforms.

• Freelancers could connect with employers in a way that ensures complete transparency.
• All qualifications from the freelancer may be listed after verification.
• The employer would stay accountable and credible without the possibility of manipulation.
• Reviews and work history would also be listed without doctored results by third party reviewers.
• The transparency of defined terms would be locked through smart contracts. Mediation would become easier and could even become automated.
• Fees would be eliminated or significantly minimized by a large margin due to automation.
• Interoperability between platforms could come through layered connectivity solutions.
• Real time details of ongoing work could be updated in a seamless manner.
• Added security would mean that highly confidential projects may be worked on without the fear of data breach.
• Payments would not have to be held by the platforms. They could instead be safely protected through smart contracts, in a decentralized manner.
• The integration of cryptocurrencies

These are just some of the benefits of decentralization and the utilization of the blockchain.