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The Future of Recruitment Is Here And It’s Powered by the Blockchain – How Does it Work?

04/11/2023
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The world’s freelance sector is growing at a fast rate, faster than it was estimated to grow five years ago by Upwork, the largest freelance marketplace. From the pandemic that nearly brought global economics to a standstill, to the spike in remote work, it is clear that both employers and job seekers now have a different view of recruitment.

Not to mention new technologies like blockchain and artificial intelligence, two of the major catalysts.

Nowadays, the majority of freelance work and recruitment occurs on platforms like Upwork, Fiverr, Freelancer, Toptal, and Flexjobs, where many freelancers congregate.

The Future of Recruitment Is Here And It’s Powered by the Blockchain – How Does it Work?
Freelance marketplace

However, this is about to change with the introduction of DeeLance, an innovative Web3-powered freelance marketplace, where stakeholders like freelancers and employers meet to connect, pitch ideas and get things done from anywhere in the world.

While the freelance marketplace space may feel saturated already, most of the are still held back by the web2 technologies they were built on. Due to these outdated technologies, the freelance marketplace is overwhelmed by challenges such as high fees, payment delays, and the tedious process of finding skilled freelancers to work with.

DeeLance is the newest kid on the block and is flaunting exciting features for the $3.39 billion market (Absolute Reports).

In 2018, the worldwide market for freelance platforms had a value of $2.35 billion, which increased to $3.39 billion in 2020 at the peak of the pandemic.

Even with the significant growth experienced in the freelance industry, these platforms only account for 1-3% of the total global workforce. This indicates that there is considerable potential for further expansion.

It is anticipated that by 2027, the global market for freelance platforms will reach a staggering $9.19 billion.

From 2021 through 2027, the freelance market is expected to grow at a compound annual growth rate (CAGR) of 15.3%.

The Future of Recruitment Is Here And It’s Powered by the Blockchain – How Does it Work?
Venture Capital Funding in Web3 Startups

DeeLance has within a few weeks of existence generated a lot of buzz in the freelance space, with employers and freelancers eager to try out the new web3-powered platform to boost their businesses and careers.

The future of work the world over is freelance and remote, which means DeeLance couldn’t have come at the best time. Investors can start engaging with DeeLance in an ongoing presale, where they can buy DLANCE tokens at a discounted price.

DeeLance – Empowering Global Recruitment Through Blockchain

DeeLance is a revolutionary web-3 freelance marketplace built with three approaches in mind: data ownership, decentralization, and user-centric approaches. The project’s whitepaper states that the web3 market, worth around $6 billion in 2021 is expected to grow substantially to $64 billion by 2029.

“The e-learning and freelancing sectors will be major drivers of market growth due to the scope of web3 technology. With web3, there will be a high level of collaboration between customers, clients, and blockchain technology,” DeeLance’s whitepaper reads in part.

In the near future, the way people view work could be transformed by the emergence of a freelancing ecosystem on Web3, which promises to bring about backend innovation.

Venture Capital Funding In Blockchain – Image

DeeLance in its problem statement realized that although the global freelance market is dominated by web2 platforms like Upwork and LinkedIn, freelancers are facing never-ending issues, starting with little to no control over data ownership and use.

These platforms openly disregard data privacy rights when they use buyers’ data in targeted advertising campaigns. Most of the revenue generated by platforms like Fiverr and Upward comes from high commission fees on escrow, running adverts for low-ranked services, and user data.

Last year, UpWork eliminated around 2 million freelancers for not meeting their skill standards. Additionally, UpWork has recently prohibited both buyers and freelancers from Russia and Belarus from using their platform.

For that reason, DeeLance is focusing on tapping the power of Web3 technology to provide transparent and secure tools aimed at protecting user ownership rights in a decentralized digital economy.

“With DeeLance, freelancers and buyers can work together without intermediaries, ensuring a fair and efficient system for all,” the team stated in the whitepaper.

The rise of Web3 technology has opened up new possibilities for the freelancing industry, allowing it to become more open, secure, and accessible globally.

By eliminating the need for intermediaries and centralized corporations, freelancers can fully own their work and benefit from low fees and fast crypto payments on platforms like DeeLance.

This decentralized ecosystem makes freelancing available to everyone, regardless of their background or skill level, and allows for the creation of micro-communities where buyers and freelancers can connect, network, and collaborate.

DeeLance aims to streamline processes and make conducting business in the metaverse smooth and efficient while ensuring digital work ownership.

Because DeeLance is a web3 freelancing platform, users enjoy a lot more benefits including a simple signup process, transparency, and security, instant crypto payments, ai chatbots for customer care, on-chain KYC – used to avoid bad actors, low commissions, and staff recruitment.

Merging The Metaverse and NFTs To Build Next-Generation Freelance Platform

The DeeLance ecosystem has been built from the ground up with three key pillars: a cutting-edge NFT marketplace, a revolutionary metaverse, and an innovative recruitment platform.

By tapping the power of these pillars, the team has been able to offer to bring into the market a comprehensive suite of tools and services tailor-made for the freelance process. DeeLance’s goal is to create a more seamless experience for all the users on the freelance and recruitment platform.

Working on DeeLance offers an unmatched experience for both employers and freelancers. Some of the features that help DeeLance stand out from its peers include having a simplified platform, where users take less than a minute to post a job or apply to offer services.

The team at DeeLance holds transparency with high regard, which explained the inbuilt automated dispute system where sellers and buyers can interact on the public blockchain. The escrow feature allows freelancers to get paid without delay. On other hand, employers pay for the services they have received.

DeeLance provides premier employment prospects and connections to industry-leading professionals through its wholly decentralized platform with worldwide access.

Moreover, the platform’s vast expertise in providing staffing solutions guarantees that DeeLance clients achieve the best possible outcomes.

Deelance has implemented a system that eliminates middlemen by allowing direct communication and agreement between clients and freelancers without any additional fees.

The platform also offers the option for payments to be made in fiat or cryptocurrency, providing users with the benefit of avoiding currency exchange fees and enabling instant transactions.

One of the most prevalent issues with conventional Web2 platforms is the transfer of contractual rights from independent contractors to their clients once payment for a completed task has been confirmed.

Disputes often arise between freelancers and employers regarding the ownership of the delivered service, royalty entitlements, and the scope of usage permitted for the provided service.

DeeLance aims to tackle this problem by leveraging the concept of tokenization, wherein a freelancer’s services are represented as non-fungible tokens (NFTs).

With this approach, DeeLance strives to streamline the process and alleviate conflicts between parties while ensuring clear service ownership boundaries.

The system works in a very simple but seamless where – once the expected task is delivered and approved by the recruiter, payment is transferred automatically through an escrow account to freelancers.

As soon as this is done, recruiters will automatically receive a secure transfer of ownership of the tokenized NFT for the service/task they paid for on DeeLance.

Exploring The Metaverse With DeeLance

One of the most appealing features of DeeLance is its immersive metaverse, which serves as a recruitment platform for employers and freelancers to interact using NFT-based avatars and discuss work assignments.

Employers can create virtual offices for conducting interviews, and freelancers can showcase their impressive portfolios within the metaverse to attract potential clients.

DeeLance has its own native cryptocurrency, $DLANCE, which is utilized for all transactions within the metaverse. Although the platform supports payments in fiat and other digital currencies for freelancers’ compensation, the native token is required for all other transactions.

As the global adoption of Web3 continues, DeeLance is well-positioned to succeed in this space. With plans to tap into the $761 billion recruitment industry, the platform’s growth is expected to flourish even more.

Invest In DeeLance Today Buy Buying DLANCE Tokens In The Presale

DeeLance is set to become a global leader in the fast-growing freelance market segment. Investors who seize the opportunity now and buy DLANCE, they would be buying into the world’s most ambitious recruitment platform.

The ongoing presale reveals overwhelming interest from investors with $76k raised in a matter of days. 1 DLANCE token is worth $0.025 but only six days are remaining before the price increases to $0.027. DeeLance anticipates listing on exchanges at $0.037, enduring early adopters enjoy substantial paper gains.

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Source: https://insidebitcoins.com/news/the-future-of-recruitment-is-here-and-its-powered-by-the-blockchain-how-does-it-work