Ever since products and services found their way to the internet, buying products or hiring individual service providers (ISPs) became easy and convenient. Today, almost everything is available online and can be bought from the convenience of your couch but trusting the information available can be difficult as well as risky.
False online ads are increasing day by day which causes customers to think twice before buying, and the same goes for hiring a person for a job from the internet. On the other hand, genuine ISPs have to struggle to get more opportunities as it is really difficult to gain a customer’s trust.
This is where reviews and ratings come into play. According to a survey by ‘BrightLocal,’94% of the customers read online reviews about products and services.84%of customers trust online reviews and ratings over personal recommendations as shown by another study from the same source.
From these numbers, one can easily assume that good ratings and reviews are important for ISPs to get more opportunities. But that said, there are some difficulties that ISPs are facing in today’s competitive industry.
Problems faced by ISPs in getting better opportunities
Getting the first project
Earning a customer’s trust is one of the hardest parts for any ISP. For new ISPs getting into the business, it is really difficult to get their first work project. With the industry being dominated by other giant private service provider companies, it is rare that customers put their trust in any new individual service provider.
Verified profiles are preferred by the customer compared to other profiles available on the internet. It gives customers a sense of trust in an ISP’s background. But to get a verified profile, ISPs have to deal with third party verification agencies that charge high fees for their verification services which cost extra money to the ISPs.
Platform to showcase portfolio
There are only a few comprehensive platforms available on the internet for ISPs where they can show their work experience and their previous clients. This is a big drawback as an updated portfolio is the main element for ISPs to get more work.
So far, we have discussed what difficulties ISPs are facing in order to get better projects. They need a platform that solves these problems and gives them better networking opportunities.
Blockchain Technology-based Platform for ISPs
Blockchain can be a perfect fit for the gap between customers and ISPs with its secured, immutable, and decentralized working system. It will give customers a sense of trust and transparency which will lead to a better workflow for the ISPs and increased quality services for the customers.
Blockchain is a digital ledger that contains a list of transactions which is secured by consensus protocols, encryption of data, and is stored in a decentralized database. Blockchain technology will be a boon for ISPs as well as customers in the following ways:
Secured and verified profiles
Many successful Blockchain projects require users to get verified by the existing members of the Blockchain in order to get into the Blockchain network itself. This will ensure that only genuine and trustworthy ISPs are recommended to customers for any kind of project.This will ultimately lead to an improvement in quality service as well as better customer relationships.
Since everything will be online and stored on the Blockchain network’s database, the data and transactions stored will be immune to any changes. This will work in the favor of customers as ISPs won’t be able to change the ratings/verification results.On the other hand, ISPs can utilize this feature for recording the payment terms on the Blockchain, thus the customer can’t back out from making the payment.
The validating authority can issue certificates on the Blockchain itself that can’t be forged or reproduced like paper certificates.
With increasing frauds, Blockchain technology can be the new dawn for a reliable online ISP hiring system. It provides security, immutability, and transparency which are crucial for building trust between an ISP and a customer. TrustLogics is a new Blockchain-based platform for peer to peer hiring. It intends to revolutionize the hiring system by bringing jobseekers, ISPs, and employers on a single platform. TrustLogics gives the ISPs a unique feature to have their own digital portfolio (which can be attested by certified third-party validators) and get their services rated and reviewed by the customers.