LaborCrypto (LBR) - ICO REVIEW

Overview

LaborCrypto is a freelancing platform that embraces blockchain technology to provide consumers and providers of freelance services a chance to share similar value without a central authority. LaborCrypto will thrive to eliminate the costly intermediaries who inhabit the gig economy, to allow consumers and freelancer to interact and benefit from the interaction. Under the application and experience of the blockchain, LaborCrypto will give the freelance industry a corporate power structure.
The freelance gig industry has gained popularity within the last five years. Companies such as Lyft, Uber, Upwork, and Fiverr, and a myriad of other platforms have given users the ability to work flexible hours.

The Brains behind the Project

LaborCryptoTM benefits from our Team Members’ experience & knowledge across different business areas. Each and every one of the team members represents the spirit of LaborCrypto™: driven, committed, and acutely aware of LaborCrypto's potential.

Why Labor Crypto?

Labor Crypto is an ICO project that plans to make a freelance user-powered ecosystem. The project is an iteration of Choice Relief, a user-ran platform that streamlines gig economy matchmaking.

Labor Crypto uses that experience and uses blockchain smart contracts to help decentralize traditional power structures and give economic power to freelance workers and employers.

They plan to connect workers from around the world regardless if they have a banking system or not. As a result, freelancers can receive all of their earnings without having to worry about the middleman taking a percentage of their income.

Components of the freelancing ecosystem :

LaborCrypto looks to challenge the existing status quo of the freelancing industry through

LaborCrypto platform– under the people-powered freelance ecosystem, LaborCrypto acts as an administrator to match users to freelance and enable hiring. The platform will work to streamline the freelance economy through appropriate match-making
Smart contracts– LaborCrypto works on a protocol design that uses smart contracts as an escrow mechanism to ensure due diligence on the participating parties.
Digital banking– the goal to re-invent the freelancing community will also involve a virtual currency (LaborCrypto token) and the elimination of banking services for the transactions.

How it works

Consumers and freelancers get to register on the LaborCrypto website to seek their respective services. Inside the platform, customers post a job opening or attempt to hire a freelancer. Once the customer is satisfied with the qualities of the freelancer, then proceed to pay for the service in the form of LaborCrypto coin. The payment is held in the self-executing smart contract till the task is complete.

Benefits Offered

Quality freelancing- LaborCrypto provides for advanced features which attract top-tier freelancers to assure of high-quality services at relatively affordable prices
Low service fees- at zero or minimal fees (3%), LaborCrypto provides for minimum charges to the freelancer unlike the traditional platforms that charge upwards of 20%
User loyalty- by allowing users and freelancer to retain their earnings and fees, participants will repeatedly seek to use the services
Profit sharing- LaborCrypto shares the collected fees with the token holders receiving 50% of the amount, based on their contribution
Decentralization- with reliance on the blockchain, LaborCrypto peer-to-peer structure gives convenience to customers