Big platforms like Fiverr are reporting enormous growth and the $900 billion market is growing quicker than ever showing the potential to adapt to new technology and practices.
The need for hiring people on full-time jobs is becoming less and less pronounced as the gig economy provides a viable alternative with the smaller gigs possible from experienced freelancers anywhere around the world at affordable rates. The future is in the “job on the go” sector and that is why companies are working hard to get a slice of the pie for themselves.
Blockchain and decentralization bring a new perspective to the gig economy as they allow transparency and better enforcement of contracts than a traditional centralized model that the likes of Upwork and Fiverr promote.
ConnectJob, a new decentralized platform for the gig economy, which is aiming to tap into the massive market by connecting people with various skill sets to potential gig employers. The platform has announced a main token generation event and have already raised over $7 million which was its soft cap in the initial stage.
The Inner Workings of ConnectJob Platform
The ConnectJob platform is based on the Ethereum blockchain and enables users with various competencies to search for work on the platform.
The transparent working of the platform is enforced through smart contracts, probably the most distinguishing functionality of the Ethereum blockchain, which brings much needed decentralization into the mix. Clients can connect with jobbers directly having to pay only once the job has been completed and verified by the system.
The ConnectJob protocol uses a tamper-proof escrow system that negates the need for involving a third party in between. This allows the platform to enforce direct relationships between clients and freelancers without having the need for any third party escrow.
The most trustworthy of freelancers get the most out of the system with their approval ratings and job completion rate directly affecting their overall score. There is also no occurrence of mysterious account nullification and cancellation without following the due process. It is something that is a regular occurrence in the centralized platforms like Fiverr and a constant source of headaches and uncertainty for freelancers.
According to the ConnectJob CMO Beni Issembert:
“This is the power of democracy. For any democratic institution to survive, it must not only listen to the people, but also agree to their demands — or reach a compromise. Without the voice of the people, there can be no democracy. Without democracy, our freedom and rights become the whim of a central authority to do as they will.”
ConnectJob Native Token and Token Generation Event (TGE)
The native token of ConnectJob is the CJT token and the gig platform is in the first stage of the main Token Generation Event that began February 12, 2018.
The total hardcap is 300 million CJT tokens but in the TGE and pre-TGE, only 195 million will be available with the remaining tokens being left for the founders and ConnectJob community. The current rate is set at 2400 CJT per ETH with various discounts available for the moment.