Ethearnal, The Peer-to-Peer Freelance Platform, Is Here To Disrupt a $1.5 Trillion Industry
Saving freelancers and employers from costs and fees deducted by the third party, centralized moderator
Ethearnal IsHhere to Disrupt a $1.5 Trillion Industry
The total market size of the freelance / gig industry has been estimated in excess of $1.5 trillion, according to survey results released by Upwork in partnership with Freelancers Union. More and more people are now freelancing by choice, with technology making it easier to find freelance work. In the US alone, freelancers account for 35% of all U.S. workers. Despite the rising popularity, there remains one sticky area that demotivates users. This is the costs and fees deducted by the third party, centralized moderator which facilitates such contractual relationships. Ethearnal is here to save freelancers and employers from these costs, while also monetizing them for reputations earned as freelancers or contractors.
A P2P Freelance System on the Blockchain
Ethearnal is a peer-to-peer (P2P) freelance system, in which employers and freelancers meet, enter into trustless self-enforcing smart contracts with reputation and money in escrow, and take advantage of a decentralized system of moderators if needed. Ethearnal combines reputation and economic initiatives into one by tokenizing reputation and giving it value. All payments are in Ether (ETH). However, freelancers would have the opportunity to buy, sell, or be rewarded reputation tokens or ERT for completed jobs as a freelancer or employer.
Presale on – 19 Days to ICO
Built on the Ethereum platform, Ethearnal has its presale going on until February 27th. The ICO starts on February 28th, and will carry on until March 31st. The offering’s ICO has received a 3.9/5 rating from ICO rating platform ICObench, and a 4.6/5 rating from TrackICO.
The maximum possible token supply is 40 million ERTs. There’s a hard cap of 30,000 ETH on investment, where 1 Ether (ETH) is equal to 1000 ERTs.
Ethearnal also has a live demo in place for users who want to get a feel for how the platform would operate, once operational. The live demo can be accessed here.
Funds and Fees
Upon completion of the ICO, 10% of the collected funds will be released to the business, while the other 90% and the founders’ tokens will remain locked in smart contracts. More funds will be released only upon receiving a majority (51%) yes votes from all token holders. 75% of the total tokens have been reserved for the public sale, 5% will be awarded in bounties, while 20% remain with the founders. The company intends to use 70% of the funds for marketing purposes
Upon successful completion of the contract, if both parties are satisfied, 1% of the contract value is used to buy ERTs (1 ERT = 0.001 ETH) which are then distributed equally between the employer and the freelancer. So, in the entire process, not a cent goes to any central authority providing the service.
The team includes Stanislav Uzunchev (co-founder) who’s been in the freelancing business for the last 10 years, Vladimir Vladimirov (co-founder) who comes with 18 years’ experience in online business, Dobri Stoilov (senior back-end developer), a code writer for 20 years, and Roman Storm (smart contracts developer), an expert in solidity, and with vast experience in development for companies such as BlockchainLabs.nz, Amazon, UserTesting, Vault 12, Marketron. Betfair, and Cisco. The smart contracts will be audited by Authio.org. The founders have been into been into Bitcoin since 2012 and into Ethereum since its ICO.