50% of freelancers experience payment delays; How blockchain adoption in the gig economy can solve this

There are an absurd number of freelancers in the modern workplace. Despite this growing population, a survey revealed that 50% of freelancers struggle to get paid for their work. Although a third of respondents claimed to have been in situations where they did not receive compensation for their services, late payments are the biggest challenge.

An ongoing challenge

Payment issues are creating freelance marketplaces without freelancers, with professionals migrating from platforms with an unbalanced power scale.

While freelance marketplaces share the blame, compensation issues often arise due to the various clumsy methods of paying freelancers. The cash flow delays stem from hiccups in fiat conversion and cross-border payment costs. Finally, freelancers sacrifice a lot to get paid for their work. However, blockchain technology proposes an effective solution that effectively decentralizes payment processes, reducing transaction bottlenecks.

Breaking payment barriers with blockchain technology

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

Blockchain technology decentralizes transactions by distributing validation and authentication across a network of nodes and participants, eliminating time delays and transaction errors. In addition, cryptos and blockchains provide enhanced security. All information is encrypted and stored on the chain in an immutable format, so that blockchains can avoid payment fraud.

Furthermore, tax reporting becomes easier as blockchain technology supports transparent transactions. This eliminates the bottleneck of processing delays and reduces the chances that disputed information can always be verified.

Blockchain technology and crypto have a lot of potential and will improve over time. Furthermore, blockchain payments present an exciting alternative to the gig economy as it consistently evolves to match changing desires.

Introduction to 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 utilize smart contracts to deliver security and transparency to contracts between clients and freelancers. Uwerx will also ensure a seamless user experience with incredible features such as personal 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 trade on the platform using WERX, the native ERC-20 token of the Uwerx ecosystem. WERX will also be exchangeable 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, for sale over several pre-sale rounds, starting at $0.005/WERX. The project will further secure investors’ interest by establishing a 25-year lock-up period after the pre-sale to lock in the developers’ liquidity tokens and will waive smart contract ownership of the project when the tax reaches zero. This is aimed at eliminating carpet drafts.

After launch, the value of WERX is predicted to exceed $2 in Q1-Q2 2024, delivering massive profits for the early adopters of the pre-sale. That’s a whopping 39,900% increase from its initial 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 Uwerx pre-sale now at $0.0225 and check out the upcoming release of the Alpha platform, please follow the links below.

Pre-sale: invest.uwerx.network

Telegram: https://t.me/uwerx_network

Twitter:

Website: https://www.uwerx.network