Freelance work is already, in a sense, decentralized. Working from client to client already gives off the sense that it is a career path that is disconnected from any centralized headquarters. The very nature of the job suggests that those who wish to be self-employed want the benefits of flexibility and control that come with it. Despite this, it can be hard for even established people who are self-employed to acquire all of their needs. This is where the Blue Whale ICO comes in, or should we say, came in. It quickly sold out within an hour of going on sale.
Blue Whale’s decentralized ecosystem creates a network for connecting and incentivizing freelancers with crypto token assets. It is based off of various freelance marketplace websites where they can take on or be assigned jobs from a variety of clients, but with the added extra twist of incorporating crypto technology.
Blue Whale is offering freelancers a new platform that promises greater benefits than other leading freelancing websites. The biggest downside about being a freelancer is the lack of conventional, corporate benefits that your organization often provides for you, be it insurance, dental or what have you. Blue Whale aims to make the freelancer’s wild west style of earning a living a little easier.
Less Fees, More Benefits
Similarly to various freelance gig websites, Blue Whale will allow its users to advertise themselves and their portfolio to build a reputation and attract gigs suited to their specialties. However, they are aiming to cut back on the various costs that most if not all freelancers have to go through. This includes reduced fees and costs for commissions and advertising or marketing.
One of their features in place is what they call the Reward Bank, which distributes a select percentage of accumulated funds back into the community based off of their contributions to the overall system. This program will be part of how Blue Whale aims to deliver pensions and benefits to their registered freelancers.
Blue Whale’s Philosophy is Congruent with the Notion of Decentralization Itself
While it may seem quite ambitious, Blue Whale promises to be able to deliver to its freelancers benefits as grand as paid time off as well as sick leave and even retirement funds. While all of these seem quite interesting and innovative, the official homepage website does not elaborate precisely how this will work out. The idea of a blockchain-based freelancer platform that prioritizes more benefits is a great and noble idea, but there are still not enough details available as of now regarding how this will work out in practice.
Systems like Blue Whale are invaluable not only to freelancers but to anyone who recognizes the potential of decentralized markets. As more and more people move into labor forces that differ from the conventional, social or government based contracts; more power, freedom and control is given to the individual. What better combination is there for a freelance economy to become integrated with the world of blockchain technology and cryptocurrencies?
The Team, The Coin and the Budget
The ICO for Blue Whale commenced on May the 24th and was supposed to last for a week ending on the last day of the month, the 31st. As mentioned earlier, it sold out instantly. Their token, BWX, is priced at $0.0009 USD. The total amount of BWX tokens is 32 billion with 50% available during the pre-sale. Nearly half of the budget will be spent on research and development, with about 10% on marketing, 10% on global operations, and the rest on team management. This is a common but very fair and promising budget plan.
The Blue Whale staff is diverse and consists of members primarily from Singapore and Japan with previous background work ranging from Samsung, the Olympic Games and NASA.
While we could use more details on precisely how they set out on delivering pension plans and retirement funds, their plan to give more power to the freelancer via reduced commissions and extra benefits fits right in with the core philosophy behind decentralization.