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ICO: The crypto-economy will forever change how we think about jobs


New companies like CoinJob (ICO pre-sale July 13th), are forever changing the way we think about work






By Max Oltersdorf.

Max Oltersdorf is the President of CoinJob, a distributed labor marketplace.

Over the last few years, the “on demand” economy is increasingly disrupting traditional labor markets. In fact, according to Alan Krueger of Princeton University, “All net employment growth in the U.S. economy from 2005 to 2015 appears to have occurred in alternative work arrangements.”

Platforms in the fiat-economy like UpWork, 99 Designs, Fiverr, and others are taking advantage of this trend and have been successful by using technology to allow anyone to complete tasks from the comfort of their own home and be paid immediately by the task-giver.

However, these platforms are inherently limited by high transaction costs, a high degree of manual work-worker matching and time consuming and expensive arbitration as a result of them operating in the traditional economy.

With incorporation of a crypto-token and blockchain elements, fees can be reduced substantially, leading to higher take-home pay for workers and lower fees for work providers.

Companies like CoinJob, the first “gig” economy platform, are looking to do exactly that: reduce fees for end users of the platform and improve on the efficiency and convenience of fiat-economy platforms.

With CoinJob specifically, a purpose-dedicated crypto-token allows for low transaction fees while automatic arbitration reduces operating costs. This will allow CoinJob to charge 8% for their fee, vs. 20% - 30% for other platforms:

Also possible through the blockchain is quick payment and automatic arbitration, where multi-signature escrow wallets allow for payment to be made immediately upon completion of the work. In the event of arbitration, the use of a crypto-token allows users to be rewarded for participating in the arbitration process, at no cost to the company.

Overall, the lower fees and quick payment of crypto-currency platforms will allow for more users to engage, hastening the advent of the “gig” economy and forever changing the nature of work.

Read more about how CoinJob is changing the nature of work at www.coinjob.net

Building on the well-established business model of “gig-economy” labor markets such as UpWork and Gigster, the CoinJob project creates a low fee, distributed labor marketplace for computer-based work featuring the Jobi, an Ethereum-based digital token. CoinJob is able to substantially reduce fees in the marketplace and offer automatic third-party arbitration in the event of dissatisfaction of work product.

Hereby a summary of the terms of this ICO:
Ticker symbol: XCJ
Token background: XCJ is built as an ERC20 token on the Ethereum blockchain
Presale Start date: July 13, 2017 00:00
Presale Bonus: 50%
ICO Start date: July 14, 2017 00:00UTC
End date: August 14, 2017 00:00UTC
Token price: 1 ETH = 1000 PAY
Percentage of all tokens offered to public: 80%
Percentage of all tokens sold immediately: 30%
Percentage of tokens distributed to the community over time: 50%
Company long term incentive alignment: 20%
Target amount sold (hardcap): 60,000 ETH
Escrow of funds: Funds secured in multisig esc

coinjob.net

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Tuesday, July 18th 2017
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