HOW TO: Freelancer On The Blockchain

Today, homeworking or remote working is common place, with freelancers projected to triple by 2020. Statistics shows that last year in the United States, the freelance economy grew to 55 million Americans, encompassing 35% of the total U.S. workforce, compared to 53 million in 2014 and nearly 54 million in 2015.

The needs of this rising workforce with the added industruy boom of blockchain related projects, are simple. They need to be paid, in full, on time, and in every currency, including cryptocurrency. This is where eDev.one, a site where clients and freelancers meet and have instant access to a payment and investment platform not offered on any other freelancing platform, comes in.

Set to launch in Q4 of 2017, eDev.one has many different modes of payments and a wide-range of currencies and cryptocurrencies. Payments can be made in BTC, ETH, BTS, or any of the other currencies powered by OpenLedger, at the click of a button. The total commission paid to eDev.one is up to 12.5%, of which 2.5% is from the contracting client and up to 10% from the freelancer. Using the currency of their choice, the client pays the total amount, including the commission, which is then converted to the digital asset equivalent to USD (bitUSD) of eDev.one. This is then left on a dedicated escrow account until time of distribution.

As with payments, eDev.one makes it easy to send and withdraw funds using an eDev.one or an OpenLedger account. Withdrawals can be done with a debit or a bank account, or with a Bitcoin wallet and using many other cryptocurrencies. It is also possible to withdraw directly from the eDEV reputation based SmartCoin JOYY or eDEV digital asset USD to the OpenLedger OCASH Debit Card or bank account, or send to other accounts on the BitShares network.

eDev.one clients hire freelancers that suit the skills and requirements they need, while freelancers browse for available jobs. Freelancers and clients agree to the terms, including the amount the job is worth. The client will then pay the agreed amount onto the eDev.one Escrow Milestone Payment System, which will include an additional 2.5% commission. The eDev.one Escrow Milestone Payment System serves as a neutral third-party between freelancers and clients and is created on the base of a Smart contract. This gives assurance to the freelancers that they are going to be paid at the end of the project.

Deposits to the multisig Escrow System can be made using Debit Card, Paypal, SEPA, SWIFT or wire transfer of FIAT currencies, as well as any major cryptocurrencies like BTC, ETH, WAVES, DASH, NEM, NXT, Monero, Litecoin, HEAT and Ripple including all major native tokens like BTS, bitUSD, bitEUR, bitCNY, OBITS, ICOO, and JOYY itself. To avoid any volatility throughout the time of contract, all amounts are kept on escrow account in the form of the decentralized fiat and stablecoin of the platform USD (bitUSD).

eDev.one gives strong protection to both freelancers and clients, with full administrative services and support available for clients and freelancers alike, presented for every project and task.

Once the freelancer has completed the job, submitted the report and sent a request for the release of escrow funds, the client will then sign off on the job. Once the client agrees with the releasing of funds, eDev.one will then release the funds for payment to the freelancer in the form of USD.

Prior to the launch of eDev.one, various asset exchanges will have been offered to list the reputation based JOYY token with a specific amount of tokens, including Ethereum, Waves, NXT, Counterparty, OMNI, NEM, and HEAT. eDEV will have an official master token of the platform named EDEV and a JOYY SmartCoin will be found on OpenLedger DEX and BitShares exchanges as well.

Through a buyback and burn of the tokens found on other asset exchanges, the supply of JOYY tokens will decrease and become more scarce in time. Dividends in the form of USD will be distributed to all eDev.one asset holders. The amount of JOYY SmartCoins on eDEV.one will increase in line with the appreciation of work done by the freelancers. The SmartCoin JOYY will be pegged via live feeds to the value of the JOYY tokens from each exchange as well as the EDEV token on eDEV platform itself and collateralized with bts.

OpenLedger’s partner, Internet of Coins, will make it possible to swap tokens or the value of it across all involved exchanges using their crypto-wallet, as it is now possible between Ethereum and Waves platforms.
The distribution of the 12.5% eDev.one commissions with bitUSD are as follows:

From 35% to 55% reserved for further marketing, market making, and administration of eDEV
10% pledged to OBITS (buyback/burn or sharedrop depending on voting)
5% pledged to buy BTSR tokens to fund advertising campaigns via HubDSP.com
5% for a Scholarship Fund
5% for a rewards program in reputation based JOYY SmartCoins aimed at participating freelancers on the basis of reviews and amount of completed projects.

From 20% to 40% distributed initially every three months to all holders, then monthly, then weekly
eDev.one is part of the OpenLedger Decentralized Conglomerate (DC), the world’s first blockchain powered, self-sustaining economy fuelled by its own digital token named OBITS, where it is possible for participant freelancers and clients to earn a share of the fees generated by the OpenLedger platform.

OpenLedger DC is built on BitShares Blockchain MIT Graphene Toolkit Technology, consisting of a network of permission-less nodes networked together in a peer-to-peer (P2P) configuration. eDev.one uses the features of blockchain technology and Smart Contracts to build trustworthy relationships between clients and freelancers.

Ronny Boesing, Founder of OpenLedger, says, “eDev.one it is the only place in the world where a contract is paid with USD and appreciated with JOYY! eDEV.one represents both freelancers and clients, allowing them to get the job done according to set milestones, with a secure payment process, and its own currency, which is intended to grow in value as the freeelancer grows in reputation on the platform.”

“Not only will eDEV be able to satisfy the increasing demand worldwide for freelancers, it is also a platform with its own decentralized marketplace, and options to buy, sell, long, or short against multiple cryptocurrency and fiat gateways. It is a one of a kind, and we are excited about its launch.”