Blockchain developers cannot be blamed for not keeping up with the times. A unique change in global labor markets during the COVID-19 pandemic has accelerated backwardness in recent decades. Signs of recovery in unemployment in the future are prompting residents to resort to all kinds of digital work in the absence of social security and traditional employment benefits.
To cope with a sharp economic downturn and an unpredictable end to epidemics, 41% of companies said in a recent poll they plan to expand their use of entrepreneurs in niche companies. Even before the current crisis, the global freelance economy was expected to reach $ 455 billion by 2023, according to a 2019 Mastercard study that prompted entrepreneurs to seize this “opportunity”. The outcome of recent legal objections to this employment model remains uncertain.
Against this backdrop, Telos is launching a new party funding platform called TelosTask, which uses blockchain technology on well-known models such as PeoplePerHour and Upwork. The new peer-to-peer platform, based on the Telos blockchain and created by the MydAppr team, will directly connect task providers with task-performing people or workers so that they can coordinate the completion of micro and large prams. “.
Telos expects the new platform to be used by giants across a wide range of sectors, from social media and assignment writing to graphic design and video production. The platform uses a blocking system to automate secure payments. In a statement, Douglas Horn, chief architect of the Telos blockchain, explained the rationale behind the platform:
“This is the real power of the high-capacity blockchain. Now anyone can instantly create a free Telos account with an easy to remember name and login without much hassle than Twitter login. It is a much needed platform ready for mass adoption. now that he is trying, People are discovering new, reliable ways to earn and complete jobs in the post-COVID world. ”
TelosTask team leader Destiny Marshall said the use of smart contracts provides a “built-in system of trust” that guarantees “fair compensation for workers,” referring to “developing countries” as an area with special demand for a job-based task.
Telos isn’t the only blockchain developer taking a unique opportunity due to the 2020 hiring crisis. In a recent interview with Cointelegraph, IOHK’s product manager said that she believes Cardano (ADA) has made a unique contribution to the financial project. through rate groups such as turn into forms From business forms to operators.