It’s 2018 and everyone is moving to a decentralized system due to its transparency. The Ethearnal team has built a peer-to-peer freelancing system in which freelancers and employers meet, enter into trustless smart contracts while having reputation and money in escrow.
The freelancing industry is estimated to be worth over $1.5 trillion dollars in 2016. While this number is impressive, the trend is to go even higher at faster rates. Most freelance sites charge 10%-20%, and up to 30% in very rare cases. Most of that goes to support their hefty centralized infrastructure and staff, and a huge portion of it goes as profits in the pockets of few. Ethearnal.com finally have the means to replace them with technology and return the meaning of “free” in freelancer. The great thing about decentralized technology is that, once built, it can be made self-sufficient and doesn’t require salary or profit.
So how does it work?
As a freelancer, you can publish fixed price gigs, browse job offers, or wait for someone to hire you at your hourly rate.
As an employer, you can browse gigs, hire freelancers by the hour, or publish your job offer and wait for it to be accepted.
As soon as you match with someone, you enter into a smart contract based agreement, where each party stakes reputation tokens (ERT). Reputation with measurable monetary value. The contract value is secured in a smart contract-based escrow. If things go wrong, there is a pool of moderators waiting to solve your issue by simple majority vote. Moderators have a reputation at stake and a clever reward/punish system based on game theory to give them the initiative to judge honestly.
One thing that makes Ethearnal stand out is its ability to tokenize reputations by giving it value. This means that, the more trustworthy the community vote you to be, the more economic benefit you get.
Everyone in the community have strong and aligned initiative to be honest because everyone has something of value at stake and as well something to gain if everything goes well.
Why invest in Ethernal ICO?
1. The token holders remain in control of the team spending
Only 10% of the collected funds are released to Ethearnal team upon completion of the ICO. The other 90% and the founders’ tokens remain locked in the smart contract. The team keep the community constantly updated on their progress, when they need more funds released they initiate a voting process.
Every token holder can vote proportionally to his tokens by sending a simple transaction to the smart contract, if they should get another round of funding. If 51% vote no, they don’t get anything and continue working until the token holders are satisfied enough to vote yes the next time they initiate a voting process. Their smart contracts are public and everyone with the skills can verify the above.
2. Every token holder can start a refund process!
At any time, anyone holding at least 1 ERT token can initiate a refund voting process by sending a transaction to ethearnal smart contract. If 65% of the tokens vote for a refund all remaining funds are refunded proportionally.
So, at any time, the ethearnal team are in possession of only 10% of the funding and if they stop delivering on our promises, you can get back the rest of your investment.
Everything they do is open source and easy to monitor. They already have minimum viable product developed with their own funding.
3. Real token utility!
Freelancers need ERT to get more work. Employers need the token to stake when hiring.
4. You earn ether just for holding them!
When the contract completes via a dispute, no new reputation is bought. The already staked one by all participants is re-distributed in a clever way using game theory principles.
In this case, the 1% deducted from the contract value is distributed among all token holders proportionally in ether directly! You earn ether just for holding tokens.
The token must have value for the whole system to work. That’s why it’s only fair if we reward the people that help support that value.
Visit ico.ethearnal.com to participate in their ICO (1 Ether gets you 1000 ERT. Or the price per 1 ERT is 0.001 Ether)