Against the backdrop of technological disruption and offshoring, the “gig/sharing economy” is globally burgeoning. Freelancers will make up a whopping 58% of the US workforce by 20271. Consequently, peer-to-peer booking platforms like AirBnB and Uber have seen a meteoric rise in demand accompanying these shifts in the job market.
However, the growing dominance of these tech giants has a dark side for workers in the gig/sharing economy. None of the service providers who depend on these platforms to make a living are actual employees of these tech giants. Legally hired as “contractors”; they suffer from three main problems: 1) High Commission Fees; 2) Exorbitant Marketing and Advertising Costs; and 3) a Lack of Security that inhibits them from becoming successful small business owners.
The Blue Whale Foundation’s ICO is set to rock the boat of the gig/sharing economy by leveraging on blockchain as a decentralized ledger to cut out the tech giants who are currently the largest middlemen between freelancers and their customers.
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