How Era Swap supports Gig Economy with its Blockchain based P2P marketplace

Updated on September 09, 2019

Era Swap is a community-based ecosystem which utilizes the power of blockchain technology for providing a peer-to-peer marketplace for service providers (freelancers) to exchange their services and get the best value of their time with suitable offers. 

The Era Swap Ecosystem intends to support the gig (freelancing) economy by establishing a transparent and fair system for trading freelance services. Wondering how? Continue reading… 

But, first thing first. 

What is the Gig Economy? 

In the simplest terms, Gig economy can be referred to as temporary work which comes with short-term contracts. This kind of employment is temporary, in that a company hires someone for a particular project or assignment and pays accordingly (usually on an hourly basis). 

When someone talks about the gig economy, they are usually referring to freelance work. 

Freelancers usually find work through one or more freelancing platforms, where they meet emploers looking to hire professionals on a temporary basis. The contracts, payments, work delivery, etc., are managed by the respective freelancing platform. 

What are the problems of Freelancers (Gig Economy)? And How does Era Swap offer a better alternative? 

So, if everything is going good with freelancers, what is the problem, one might wonder? Well, everything is not good. There are several problems freelancers are facing while working in the gig economy. 

For one, they have to pay a hefty commission to the freelancing platform, which acts as the middleman between freelancers and employers. For instance, upto charges a 30% freelancing platforms commission for every project from their freelancers. So, they simply deduct the commission (+ tax, if any) and pays the remaining amount to the freelancer. In short, freelancers get paid less than what they actually deserve. 

The Era Swap ecosystem provides a better alternative in the form of a transparent, P2P marketplace, Time Swappers, where buyers and sellers meet freely online to exchange services at affordable charges.

Another major problem with the existing gig economy is of Payments. Most of the time, employers hold the payments for too long, and sometimes, freelancers do not get paid at all for their work.

There is no such issue with the Time Swappers platform, as everything from work assignment to allocation and payments are managed through automated smart contracts. An employer looking to hire a freelancer has to deposit the gig amount to the smart contract escrow wallet. The payments are released automatically to the freelancer once the work is completed and delivered to the employer and the confirmation of the same is received by the escrow. 

The third issue with traditional freelancing platforms is of security. First, both freelancers and employers are required to share their personal details, business data as well as project details with the platform in order to use the service. Second, the payments are also not secure and transparent, as everything is in control of a centralized entity (the platform). 

The Time Swappers platform resolves that issue by proving a blockchain-based secure and transparent system for p2p trading. Here buyers and sellers communicate directly with each other for exchanging services without intervention of any middleman to govern the exchange.

Moreover, Era Swap intends to make the gig economy more productive by offering transparent ratings, easy matching between both parties and honest payments.

So, what are you waiting for. Join Time swappers today to become a part of this solution oriented market place platform. Visit - to enrol.