The Blocklancer pre sale has just finished, raising a total of 1000 Ethereum and selling out in just 3 days. Here's a quick review of the Blocklancer ICO.
What is Blocklancer?
Blocklancer is a Distrubuted Autonomus Job Market (DAJ) that runs on the Ethereum blockchain. They say that they will create a self-regulatory platform will be for freelancers to find jobs and for customers to outsource work.
Blocklancer state that they aim to make DAJ the job market of the future and aim to solve many of the problems that come with the current mainstream freelancing platforms.
Most of the decisions made on the new platform will be made by those holding the lancer token, which means that nobody will have an uncontrollable amount of influence on the platform.
The Freelance Market
With the rise of the internet freelancing and remote working has become one of the fastest growing markets in the world with there now being a total of 55 million workers, compared to just 30 million only 10 years ago. In the U.S freelancers already make up 35% of the overall workforce.
Blocklancer claim that if they were to attract just 0.01% of the global freelance industry then they'd collect over $3 million annually in fees with just a 3% charge.
How will Blocklancer Solve The Problems on Freelancing Platforms?
Difficulty receiving payments from clients: Blocklancer will offer an escrow service for any fixed price contracts, after a contract has been made between the client and freelancer the clients money is frozen until the work is completed. If the client isn't happy with the work he receives then he'll have the option to ask other token holders to settle the dispute. The freelancer will also have the same option available to them if they feel that the client has left them an unfair review. If any tokenholder is seen as deliberately voting incorrectly then they'll lose some of their tokens.
Clients leaving unfair reviews: On many other platforms the freelancer will have to contact the websites support, this is often unsuccessful with them being unresponsive or being more concerned with keeping the buyer happy. On Blocklancer disputes like this will be resolved by other tokenholders.
Fees: The fees on other freelancing platforms are often high with many of the industry leaders charging around 20%. Blocklancer will just charge a 3% flat fee, this will make them the lowest price in the whole market.
Centralization of power: Many freelancers often find that their accounts have been banned without even receiving a valid reason. On blocklancer any disputes like this will be solved by the tokenholders who have an obvious incentive to make the platform a success.
Blocklancer hiring process
In the image below you can see how the hiring process will work:
The client creates a job and selects a deadline for accepting a job offer.
Freelancers are then free to bid on the job posting with the amount they're prepared to complete the work for.
When the client picks a freelancer and accepts his proposal a contract between the client and freelancer is created.
The Lancer token
The Lancer token will have a maximum supply of 1,000,000,000 and will run on the Ethereum network. Everyone who holds the token will receive a share of the revenue from the platform, 100% of the 3% fee earned by blocklancer will be be distributed to token holders, making it similar to holding shares in a company.
The token holders will also be asked to vote on any disputes that occur on the platform, this will ensure that no single person will have control of the entire platform.
Blocklancer ICO Details
The pre sale has already been completed raising a total of 1000 ETH. The Blocklancer ICO date hasn't been announced yet but it should be soon.
During the first hour of the ICO the tokens will be available at a rate of 12,000 LNC to 1 ETH. After the first hour the rate drops to 10,000 LNC to 1 ETH for the first 10 million tokens and decreases at a rate of 1% for every 10 million tokens sold.
How will the Blocklancer ICO Funds be Spent?
35% will be used to improve the platform.
10% of the funds will go to general admin.
40% of the tokens will be used for marketing.
3% will be used for IT infrastructure and 2% for software licenses.
10% will be used as a reserve.
blocklancer ico 2.png
Website link: https://www.blocklancer.net/?affiliate=12294
Whitepaper: https://blocklancer.net/static/main/docs/lancer_whitepaper.pdf