The text below is an advertorial article that was not written by Our journalists.
Like any new technology, blockchain started as a niche idea relegated to obscure corners of the internet before gaining widespread adoption by both the public and private sectors. A couple of years ago, it would have been rather hard to sell a non-tech-savvy investor on a business revolving around blockchain technology.
Up until a few years ago, it was unfortunately mostly associated with sombre predictions by Goldman Sachs (who have done a figurative 180 since) and FBI busts on illicit trading rings.
Now, the mere use of terms such as “crypto”, “blockchain”, “ledger” and so on is enough to garner interest in a new project – whether it involves banking or other financial transactions, supply chain or even green ventures such as water purification or energy saving.
New use cases for blockchain technology are constantly being found as time goes on – a logistical improvement here, a healthcare tracking system there. Many of these ideas don’t come from long brainstorming sessions – rather, they come from someone doing the same activity repeatedly – and thinking of ways to improve a certain process.
Due to the industries in which the founders of Veelancing worked, many interactions with customer support and freelancing platforms were had – some of which went south. A recurring question we had was “Didn’t we already agree on this?”
Many disputes on all sorts of platforms tend to see-saw from one possible resolution to another without any real justification – an issue that blockchain solves efficiently due to its intrinsic characteristics.
After a long period during which we figured out the scope of the project – and an even longer period spent coding – we are proud to present our new platform, Veelancing.
Veelancing aims to change the way freelancing is done. We figured the best way to change it is to simply do away with all the complications tacked onto a very simple process. Why should a platform interfere in the private dealings of two individuals?
As a platform that aims to bring freelancing back to its roots of self-sufficiency and trust, Veelancing is built around ERC-20-based smart contracts.
On Veelancing, when a freelancer and a client come to an agreement regarding all the terms of a project – SLA, payment terms, modus operandi, and so on, they will be entered into a smart contract. Once the smart contract is signed, the funds are sent to a wallet and will only be paid out when all the conditions stipulated in the contract are met.
Although the smart contract system should take care of most disputes between interested parties, our staff will always be there to help out on a case-by-case basis in case of a truly unforeseen situation – but we will always mediate a case based on the smart contract signed between the two.
It was at this point we realized the payment process could also be improved – ransomware attacks and the like are always a danger. No matter how well a platform is designed, there are always chinks in the armor.
We decided to implement a hot and cold wallet system for an extra layer of security. Since a project can take months or more, cold wallets are a perfect way to add an extra layer of security to Veelancing. Any payments on the Veelancing platform will pass through a hot wallet and be sent to a cold wallet – where they will be stored in Veelancing tokens. Upon project completion, the funds will return to the hot wallet in order to be paid out.
However, our commitment to non-interference doesn’t end here. We believe a platform needs to remain as unobtrusive as possible – especially when it comes to money.
As a result, Veelancing will only charge a 3% commission on any contract. This is enough to cover the costs of not only staying operational – but constantly improving as well. We have more features in the works which we will announce as soon as we have them ready to implement.
Last but not least, as firm believers in cryptocurrencies, we plan to encourage their use by implementing our own exchange right on the platform, which will also allow conversion to our own proprietary token.
This token will also be used for the internal facilitation of payments in fiat, in order to ensure that these payments can also benefit from blockchain technology. All payments in fiat will be automatically exchanged into Veelancing tokens – and then paid out using any payment method the freelancer prefers – whether fiat or crypto.
We will be launching our pre-ICO round shortly, along with a demo version of the platform. We plan to launch the full site soon after, once we’ve ironed out any last kinks in the code – so stay tuned!