Money is the most liquid asset we people own. But when it comes to collecting payment, it’s a very challenging asset to facilitate in-stream, especially in the gig economy ecosystem.
The gig economy includes freelancers, seasonal workers, consultants and mostly those who make them employee for the short term. A survey was done with the gig economy freelancers from various industries worldwide and focused on their payment concerns found some interesting insights.
These key findings include:
- 95 % of workers expect to be paid on time to ensure loyalty. However, only 38% of respondents were delighted with the way their payments were currently being handled.
- 76 % of participants want multiple global payment method options,
- 93 % of responders said that communications such as email notifications on payment status updates are crucial, while 96% would like to view payment status online.
Poor freelancer payments infrastructure processing has significant implications on their loyalty to an online marketplace. More then, half of the participants believe that their payments experience with their current marketplace needs improvement.
To overcome the above problem discussed, we are building money streaming protocol Xeggo, leveraging social token in the peer-to-peer liquid market.
Xeggo has talked to more than 500 gig workers, artists, freelancers and found they are facing one common problem, “Delayed Payment.” And existing traditional infrastructure is not suited to facilitate this. We are leveraging the smart contract’s power to make the payment in a recurring way on-chain, which will bring more transparency and trust in the payment ecosystem.
We are growing very fast in terms of adoption. If you want to be a part of the ride, you can connect us or shoot us a mail. We will get back to you.