What is LibertyLance?
LibertyLance is a self-regulating and decentralized gig-based marketplace designed for freelancers and clients to transact in the quickest and most transparent fashion through smart contracts. It is a revolutionary freelancing platform that uses the power of blockchain technology solving many underlying issues present in the traditional marketplaces. Using smart contracts, the platform eliminates any possibility of a central authority, non-payment and undeserving reviews on the platform.
Decentralized
LibertyLance will open its entire operation to its community by using the Ethereum blockchain to provide a decentralized marketplace so that freelancers and clients do not suffer from unfair account suspension or disputes because the entire infrastructure is designed to be automated and trustless to the fullest possible extent.
Smart contracts
In order to eliminate the services of a middleman, smart contracts are going to be deployed that are going to act as an escrow medium with pre defined conditions and rules to facilitate a smooth transaction between the client and freelancer.
Dispute Resolution
Conflict resolution on LibertyLance is carried out using smart contracts that ensures neither party get any payment problems or undeserved reviews. If either party is unsatisfied, an independent panel of token holders will deliver a verdict on the matter while being rewarded for their participation.
About The Freelance Market
The number of freelance workers is increasing gradually as the number of freelancers currently hit 55 million in the U.S this year. It was formerly 53 million in 2014 and 53.7 million in 2015. Freelancers currently make up to 35% of the U.S. workers and collectively earned up to $1.4 trillion in the past year.
There are portable benefits that are enjoyed by freelancers with 67% saying they cherish to have access to retirement and health benefits without any consideration of their employment status. According to Freelancers union founder and executive director, Sara Horowitz, freelancers make up one third of the workforce.
The problems of unsteady income have not affected the growth of freelancing. Many workers tend to appreciate freelancing because of the benefits of flexibility in working hours. Many freelancers are already accustomed to the pattern or lifestyle. An average freelancer tends to work up to 36 hours a week and people are trying to achieve a life where they can decide what they wish to do and make decisions on how they intend to work.
With the aid of technology, there has been improvement and access to freelance gigs. According to a survey, 73% of freelancers said technology has made the location of freelance work quite easy and 66% concluded that the amount of freelance work they found online has increased.
People freelance for flexibility and freedom. Some of the reasons why people freelance are to be their own boss, to have a work schedule flexibility and to have flexibility in location. Research shows that freelancing provides balance between work and life. It has become a well respected career path and nearly half of full-time freelancers raise their rate yearly. Most freelancers believe that having different clients is more secured than depending on a single employer.
How it Works?
The process begins with the client selecting from a wide range of gigs submitted by the freelancers. After finalizing and paying for a particular gig, the smart contract will be initiated and a 2% fee + gig amount is going to be charged from the client that is to be held in escrow by the smart contract. Below is a graphical representation of the complete process involved in the transaction between the two parties.
In the case the client is satisfied with the service of the freelancer, the smart contract will automatically release the funds to the freelancer while taking an additional 2% fee from the gig amount from the freelancer. After gig completion, both parties will be able to review each other and provide feedback for future freelancers and clients.
LibertyLance Token
Project Name LibertyLance
Token Symbol LTN
Platform Ethereum
Total Supply 50.000.000
Exchange Rate 1 ETH = 5.000 LTN
Bonus 15-5%
Hard Cap 5500 ETH
Soft Cap 400 ETH
The Libertylance tokens represent marketplace access and for participating in the dispute resolution between the client and freelancer in our marketplace. The role of the token or use case in the system would be the access to features and functionalities in our marketplace while also being used in the dispute settling of clients and freelancers, based on the outcome of the deal, token holders will be awarded the transaction fee and tokens from those people that were wrong in the dispute resolution process.
The voting decision system is an automatic dispute resolution process that is used to settle disputes between clients and freelancers with a transparent and decentralized approach.
There will be a maximum of 50 million (50,000,000) tokens available, this particular number has been set as to ensure that the voting system is diverse without any group of people or individuals manipulating the voting process. A supply of 50 million (50,000,000) was decided upon by our team to eliminate bias as well as an incentive to taking part as a dispute settler for a sound, quality and scam-free freelancing ecosystem.
Purpose of the Token
Purpose of the token is to ensure a decentralized peer to peer dispute settlement system done by the token holders eliminating the involvement of a centralized marketplace.
Marketplace Access
In our marketplace access to features and functionalities will be restricted to the freelancers as they must have a minimum number of tokens in their account in order to unlock the features of the platform and be able to receive any gig orders from clients. This is done in order to remove any bad actors from the marketplace to ensure the long term growth and stability of the platform.
The features of having a premium access to the marketplace includes:
ü Gigs posted by freelancers will be higher in our search engine system
ü Detailed dashboard statistics such as earnings report, portfolio management,past gig details etc
ü Offering upsell services in an active gig
ü Exclusive seller badges on different levels
ü Ability to send custom gig offers to clients
ü Ability to post multiple gigs from the same account
ü Eligibility to be featured at promotional listings
Okay, you can visit their WEBSITE and WHITEPAPER to get more information. And for those of you who have Social Media, you can visit their social media on FACEBOOK and TWITTER. And for those of you who want to ask something about this Project, you can join their TELEGRAM Group, Thank you.
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