50% Of Freelancers Experience Payment Delays; How Blockchain Adoption In Gig Economy Can Solve This

There are an absurdly large number of freelancers in the modern workplace. Despite this growing population, a survey revealed that 50% of freelance professionals struggle to get paid for their work. Although one-third of respondents claimed to have encountered situations where they received no compensation for their services, delayed payments are the biggest challenge.

A Persistent Challenge

Payment issues are creating freelance marketplaces devoid of freelancers, with professionals migrating from platforms with an unbalanced power scale.

While freelance marketplaces share in the blame, compensation issues often arise due to the different clunky methods of paying freelancers. The cash flow delays stem from hiccups in fiat conversion and cross-border payment charges. In the end, freelancers sacrifice a lot to receive payment for their work. However, blockchain technology proposes an efficient solution that effectively decentralizes payment processes, reducing transaction bottlenecks.

Breaking Payment Barriers With Blockchain Technology

Onboarding freelancers on a crypto-powered blockchain platform is one solution gradually gaining approval worldwide. Cryptos are flexible, easy to use, and unrestricted or controlled by any centralized entity or intermediaries. 

Blockchain technology decentralizes transactions by distributing validation and authentication across a network of nodes and participants, eliminating time delays and transactional errors. In addition, cryptos and blockchains deliver enhanced security. All information is encrypted and stored on-chain in an immutable format, allowing blockchains to avoid payment fraud.

Furthermore, tax reporting becomes simpler as blockchain technology supports transparent transactions. This eliminates the bottleneck of processing delays and diminishes the chances of disputes information is always verifiable.

Blockchain technology and cryptos have many potentials and will get better over time. Furthermore, blockchain payments present an exciting option for the gig economy as it consistently evolves to match shifting wants.

Onboarding A Decentralized Marketplace With Uwerx (WERX)

Polygon-based crypto project, Uwerx, will bring the power of blockchain technology to the gig economy. The project will leverage smart contracts to deliver security and transparency to contracts between clients and freelance professionals. Uwerx will also ensure a seamless user experience with incredible features such as personalized matching, gamified incentives, and built-in collaboration tools. Uwerx will also offer significantly lower fees than traditional freelance platforms (1% flat fee vs. 20% at Upwork & Fiverr).

When the project launches, it will offer a complete DeFi ecosystem as freelancers and clients will transact on the platform using WERX, the native utility ERC-20 token of the Uwerx ecosystem. WERX will also be swappable with other ERC-20 tokens on Uniswap (UNI).

The project’s developers want to guarantee the security of the project and have already secured audit approvals from InterFi Network and Solod Proof. Furthermore, Uwerx will launch its ICO with 300 million WERX coins, representing 40% of WERX’s total supply, up for sale across multiple presale rounds, starting at $0.005/WERX. The project will further secure investors’ interest by establishing a 25-year locking period post-presale to lock developers’ liquidity tokens and will renounce smart contract ownership of the project when taxes hit zero. This is aimed at eliminating rug pulls.

After launch, the value of WERX is predicted to surpass $2 in Q1-Q2 2024, delivering massive profits for the early adopters of its presale. That is a whopping 39,900% increase from its starting presale price compared to another Web3 token, Cardano (ADA), which analysts believe will grow by 100% within the same period — $0.34 to $0.68.

To buy the Uwerx presale now at $0.0225 and check out the imminent release of the Alpha platform, please follow the links below.

Presale: invest.uwerx.network

Telegram: https://t.me/uwerx_network 

Twitter: https://twitter.com/uwerx_network