Deconet is Pivoting to Payout.Team
For freelancers who work on projects together and companies with global contractors, Payout.Team is the simplest way to pay teams
The Short Version
- For commercial blockchain applications (like Deconet), decentralization is not currently viable as a product hook.
- It’s difficult for teams of independent freelancers to work on projects together because of payroll, compliance, and corporate entity complexities.
- It’s tedious for companies to compliantly pay their globally distributed contractors because of diverse labor laws and a multitude of payment providers.
- Payout.Team solves these problems and is live!
Looking Back At Our Smart Contract Use-Case Discoveries
When Chris and I started first starting discussing working together, our thinking was guided by the following question:
How can we enable people who create wealth online to live more freely and flexibility?
This question took us and our amazing team down the path of building a smart contract enabled marketplace for code in order to give developers access to passive income, a smart contract enabled marketplace for work so people could find work, and a smart contract enabled escrow SaaS for making working with untrusted parties easier. Along the way, we’ve made key learnings about smart contracts.
Timing is everything, and at this point in time, the best use-cases of smart contracts on public blockchains are ones that enable a user to have a total, utility producing interaction directly with a network (aka contract). In the products we shipped, a user required another party to complete an interaction in order for there to be a benefit for the initial user, like having someone buy your software. By looking at which smart contracts have the most traction, we can see the user to contract model in action. For example, users have a complete interaction with a smart contract when purchasing tokens in an ICO or creating a Collateralized Debt Position.
This lens validates all the commercial and cultural enthusiasm in decentralized finance, however DeFi is not where we saw the largest problems, especially given our guiding principle of enabling people who create wealth online to live more freely and flexibility . . .
Payout.Team is born out of the intersection between our guiding question and the following two trends:
- Teams of freelancers work on projects together
- Companies work with globally distributed contractors
With Payout.Team, users can now use Payouts and Team Invoices.
With a Payout, companies can pay their global contractors with just their email address. Payout.Team handles the on-boarding, let’s the contractor withdraw their funds any way they like, and takes care of the tax and compliance paperwork, globally.
With a Team Invoice, freelancers can finally work together without the back office burden of running a corporation that has employees. Specifically, when a client pays the invoice, funds can be routed to multiple team members all over the planet. Payout.Team takes care of all the compliance and tax paperwork.
Now, teams of freelancers can work on high margin projects without taking on the tasks and accounting overhead of running a corporation that employs people.
It’s important that the pricing model for Payout.Team works well for people who work to live, so for users sending payments to two payees per month, Payout.Team is free to use! For each additional payees, we charge $8/month. We don’t take a transaction fee.
We think it’s only fair to pay for software when it’s being used, so there’s no recurring monthly subscriptions; charges are only processed during months when payments are sent to three or more payees.
We’re excited to help our peers capture more freedom and flexibility in their lives, and we’re only getting started so we would love to hear about your experience when creating your first Payout or Invoice!
Yours in freedom,