The market for online freelancing has grown steadily over the last decade. Today the two largest freelancing sites create well over a billion US Dollars in revenue every year. This means a lot of profits for them, and a relative monopoly over the online talent pool.
Sites like UpWork and Freelancer are successful because they offer escrow protection for the people that use their services. Their ability to connect clients with creative professionals is important, but making sure creatives get paid is why they have been so successful.
It comes down to creating safety for online professionals, and now there is another option available.
Today a new platform is creating the potential for change in the online freelancing space. It could help freelancers to connect directly with clients, or ensure payment for services rendered at much lower rates.
Superset is a company that built their business on the idea that smart contracts should be available to anyone. They took the smart contract architecture that is built into the Ethereum Blockchain, and made it easily accessible to anyone that can write in English.
Giving people to ability to craft smart contracts in plain English is a big leap forward. With the launch of the Superset platform, the ability to innovate online freelancing just got a whole lot easier.
At its most basic level, a smart contract is very easy to understand.
You can draft a contract for just about anything, along the lines that both parties agree to up front. Unlike the freelancing space today, where a site like UpWork acts as a third party, the platform that Superset is launching gives people the ability to use escrow agreements with just two parties.
With no middleman, and no money lost to any third party, Superset creates many financial advantages for freelancers. But the changes that Superset could create are much larger than merely replacing the escrow aspect of freelancing sites.
Because smart contracts allow people to enter into binding agreements at a very small cost, the Superset platform would allow enterprising developers to create new freelancing platforms without having to deal with the financial side of it at all.
New Ways To Create
When the payment system is taken out of a platform like UpWork, it is basically a messaging system that lets freelancers connect to clients via classified ads.
Superset’s platform gives anyone the ability to craft easy to use smart contracts. This is a big part of making sure that freelancers are paid for their work, once it is completed successfully.
Not only does Superset allow developers to take advantage of Ethereum’s smart contracts without specialized coding, it also provides a dispute resolution system for when things don’t work out as planned.
A developer could create a freelancing platform that focuses on making connections, and letting freelancers communicate openly. Superset takes care of all the financial aspects and dispute resolution. So a new freelancing model could focus on communication, and not be burdened by a lot of complex financial record keeping.
Superset Connects The Dots
Superset’s platform also allows its users to integrate a range of cloud services into their smart contracts. Creating a contract that would pay a creative once a document is uploaded to Google Drive is a snap with their platform, which offers some big advantages over the existing freelancing options.
All of these capabilities offer loads of new options to developers. Superset’s platform can easily do all of the heavy lifting when it comes to the escrow and payment side of online freelancing, at a much lower cost that the existing sites. The Superset ICO is starting on May 1, 2018. Once the Superset ICO has started, the types of contracts user’s can create will increase rapidly.
Developers are free to create any kind of front end they want for freelancers, and take advantage of one of the most interesting platforms to emerge in a long time!