Time Swappers - A solution to the problems of centralized freelancing systems

Updated on September 05, 2019

You must have often heard of term “freelancing” or “freelancers”, in fact, most of us, may have worked as a freelancer at some point.

Now, if you’re wondering why people are becoming freelancers or why the industry is growing so much, there are many reasons - freedom of choice, independence of working, limited restrictions, flexible hours, and more. Let discuss the problems of the centralized freelancing system.

So, what is a centralized freelancing system?

In simple terms, a centralized system is the one where important powers, such as the power of decision making, are in the hands of a single, centralized authority. Most of our existing systems are centralized.

Centralization also exists in the freelancing system, as most of the existing freelance networks, are governed by a centralized authority. A freelancer network provides a common platform for freelancers and companies to connect and work with each other. The user data, interactions, communication as well as payments, all are managed by the centralized authority or the owner of such platforms.

So what’s the problem with a centralized freelance network?

Problems with centralized freelance networks

There is not one, but many problems with the existing, centralized freelancing platform. Here are a few:

Limited Profitability

Since centralized networks have middlemen who charge a percentage of the freelancers’ earning, the income is reduced by a great deal.

Low Security

The transactions on a centralized freelancer network are not public. They are controlled and managed by the owners. These are, therefore, open to security risks such as hacking.

Privacy Issues

Freelancers as well as companies are required to share their private data with the networks, risking their privacy and security.

Trust Issue

Even though payments are managed by the platform itself, the users are still required to trust a centralized person/authority with their data and money.

Runaway Clients

According to a study, more than half of freelancers end up not getting paid for their work, as clients choose to run away after work is delivered.

Payment Issues

Issues like delayed payment, no payment, low value for time, etc. are common with centralized freelancing networks.

These are just the main issues that come to mind when we think of freelancing. In order to make freelancing a more attractive and futuristic industry, these issues must be solved immediately. A peer to peer marketplace for freelancer network like Time Swappers seems like a viable option.

What is Time Swappers?

Time Swappers is a peer-to-peer marketplace, which allows buyers and sellers to trade services & products in the form of tokenized time.

The payments on the platform are managed through Smart Contracts which automatically process payments after verifying service delivery. Payments are made in the form of EST (Era Swap Tokens) which are easily traceable. The platform employs blockchain for protecting the data and transactions of its users. Moreover, Time Swappers literally adds the right value of freelancers’ time, as freelancers have the freedom to choose their own price (in terms of tokens per unit of time).

Interested yet? Find out more about Time Swappers at: https://timeswappers.com/