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Will Novel Approach to Freelancing Boost Crypto Markets?

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Introduction More than 59 million Americans worked freelance in 2020, and it is expected that by 2027 the majority of the U.S. workforce will be engaged in working as a freelancer. Freelance websites like Upwork (NASDAQ: UPWK ), Freelancer and PeoplePerHour have helped commonize freelancing globally, liberating workers from their 9 to 5 office jobs, and making it possible for them to work from their home. What is Cryptolancing? Conventional websites for freelance jobs often charge high fees (up to 20%) from their clients and many of them also have high rates of currency exchange. Cryptolancing is rapidly gaining popularity and setting new standards for freelance marketplaces by overcoming these limitations. Cryptolancing websites pay freelancers in cryptos and charge zero fees. What’s more, websites that are using cryptos do not have to wait hours or days to make deposits and withdrawals, but work with instant payments by integrating seamlessly with crypto wallets. Payments with cryptos like Bitcoin and Ethereum also eliminate the need for currency conversion taxes and fees. What is Cryptolancing? Gitcoin & Bounties Network are marketplaces where open-source developers can receive compensation in crypto for whatever work they choose thanks to Ethereum Smart Contracts. Due to native integration with Github, changes and updates can be easily tracked. Open bounties are posted by issuers after bounty funds have been staked onto the smart contract and bounty hunters will start working to claim the bounty. Once the work is submitted and the funder accepts the claim, the staked funds are paid out. “It’s really straightforward. You claim a bounty, you do the work, you get paid. There have been times where all this happens within an hour,” says Kenneth Ashley, a web developer who’s completed several bounties on Gitcoin. Bounties Network is focused on a breadth-first approach, dealing with the design of the Standard Bounties contracts, and supporting other bounty platforms. While most of its bounties are still for code fixes, it also aims to attract work such as website design and translation. Gitcoin on the other hand, is focused on the depth-first funding of bounties for open source software projects, in line with the mission to “grow open source.” This April, Gitcoin Holdings Inc. raised more than $10.42 million in its first round of funding to scale its marketplace for software developers building open-source projects. AnyTask: The first freelance platform providing the world unbanked access to the digital economy AnyTask is a zero-fee digital services platform that provides freelancers the ability to receive crypto in the form of ETN, which is the Electroneum Blockchain’s native currency. What is different about AnyTask is that, thanks to seamless integration with the Electroneum wallet, freelancers do not need a bank account because they can use the wallet for exchanging ETN with other cryptos, or buying airtime using the Electroneum wallet. Users can also buy goods and services directly from over 1300 merchants across the globe who accept ETN. Electroneum uses an algorithm called Proof-of-Responsibility to make sure that miners’ block rewards […]

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