Mycro Jobs employs blockchain technology for better gig economy
Over the past few years, the so called ‘gig economy’ has been on the rise. Young professionals have been increasingly drawn to the flexibility and convenience of working on short-term projects from anywhere they want. In response to the growing demand for freelance work, a number of platforms designed to connect freelancers and potential employers have emerged in recent years.
One such project, Mycro Jobs, is taking an innovative approach by utilizing blockchain technology to build a new type of job marketplace.
Despite the growing popularity of the gig economy, the space is still facing a lot of challenges. For starters, it relies on centralized solutions to connect job providers with job seekers. One unfortunate consequence of centralization is that users cannot transfer their rating information between competing platforms. Another one is that the fees charged by marketplace operators can often be pretty steep.
Mycro Jobs has gone in a different direction by embracing decentralization to create a new way of connecting job providers and job seekers. Knowing that blockchain technology can be the solution to many of the problems the sector is facing today, Mycro Jobs turned to LimeChain and our team of highly experienced blockchain developers to help build a world-class decentralized job marketplace.
Blockchain technology is a great tool for building peer-to-peer platforms where users can connect directly to each other, thus eliminating the need for middlemen. Furthermore, smart contracts can be deployed to ensure trust and security across the platform. LimeChain’s team developed the smart contracts handling the user rating and verification systems, as well as the smart contracts related to the payment process.
LimeChain also handled the technical aspect of the project’s initial coin offering, which issued the ERC-20 utility token powering the Mycro ecosystem.
Mycro and LimeChain’s joint efforts resulted in the creation of a truly decentralized platform for short-term jobs. On the platform users can find a variety of short-term tasks and earn Mycro tokens for completing a job. The smart-contract-powered rating and verification systems work to match the right person for the right job quickly and efficiently. Payments are handled by escrow smart contracts which ensures that funds are retrieved upon job completion.
Perhaps the most importantly, the marketplace allows users to retain control over their ratings and transfer them to other platforms. This, more than anything else, has the potential to shake up the space and pave the way for a better gig economy.