Breaking Walls in the Gig Economy: JumpTask’s Revolutionary Approach
The world is now interconnected like never before. Due to technological advancement and the pandemic, remote work opportunities have increased exponentially, benefiting businesses and the workforce. However, immense frictions still exist, especially in the gig economy.
> Traditional gig economy overlooks people by using geographical restrictions, high transaction costs, and skill-based entry.> JumpTask includes all countries and provides unlimited access to freelancers worldwide.> JumpTask minimizes transaction costs by using crypto and blockchain technology.> JumpTask includes all people irrespective of their skills or knowledge.
The gig economy, a job market based on short-term contracts rather than permanent jobs, is expected to reach $400B this year. However, several barriers exist that harm freelancers: high transaction fees, long transfer timings, location restrictions, and skill requirements.
JumpTask has one goal: to solve all problems with a single platform at once.
Inclusion of restricted locations
Accessibility to payment infrastructure is a critical factor allowing gig workers to thrive. As the world becomes more globalized every day, freelancers want to be paid wherever they are.
However, geo-restrictions still exist with traditional payment providers. PayPal, for example, currently covers 202 countries globally. Nevertheless, the United Nations recognizes 251 countries and territories, meaning millions of people are overlooked.
JumpTask solves this problem by implementing crypto payments with its token ($JMPT). Freelancers get unlimited access to payments anywhere in the world. With its push to become a Web 3.0 platform, JumpTask plans to revolutionize the connection between businesses and individuals worldwide.
Minimizing Transaction Costs
Transaction costs are still a significant burden for freelancers. These costs are two-fold:
- Monetary —transaction fees
- Time —transfer times
High transaction fees which cut into freelancers’ earnings are a severe inefficiency of the gig market. The traditional payment systems often put people at a disadvantage: they lose a significant portion of their earnings just for transfers.
For example, the most popular payment option for freelancers on UpWork and Fiverr is PayPal. Depending on your account, processing rates range between 1.9% and 3.5%, plus a fixed fee of 5 to 49 cents. A $100 transaction might cost you between $2 and $4 — and these fees add up quickly over time.
Moreover, a standard PayPal transfer takes anywhere between 1–3 business days. If customers want an instant transfer, they have to pay an additional fee of 1%, further reducing their earnings.
Overall, JumpTask brings transaction costs to the minimum on both fronts:
- Fees — JumpTask eliminates transaction fees when people receive $JMPT tokens for task completions.
- Time — JumpTask transfer times take minutes instead of days due to blockchain technology.
Learn more about the JumpTask business model in our previous article.
Lower Entry Barriers for the Unskilled
Traditional freelancing platforms like Fiverr and Upwork usually attract skilled professionals. Whether marketing, website building, or graphic design, most of these areas require a lot of time and effort. As a result, entry requirements are high.
Microtasks, on the other hand, provide an opportunity for the unskilled workforce to join the gig economy and earn. But existing players in the industry fall short of providing accessibility to everyone. For example, with its MTurk service, Amazon has a strict approval process, and thousands of capable workers are restricted from accessing the platform and earning anything.
Again, JumpTask taps into the microtask market efficiently with its Offerwalls and other earning types. By completing simple tasks, everyone can earn and benefit from jobs available without expert knowledge. In turn, businesses can access an on-demand, global pool of freelancers.
Unlimited Access. Many Possibilities. One Platform.
The JumpTask team seeks to become a leader in the gig economy by providing a frictionless earning flow for freelancers. Including all countries worldwide, optimizing transfers and empowering individuals irrespective of their skill level stands at the front of the team’s vision.
To successfully achieve its mission, JumpTask focuses its strategy on 5 key markets that are expected to grow exponentially in the nearest future. Their organic growth will help sustain JumpTask and help to achieve 50M active users in the next two years.
Liking what you hear? Sign up on JumpTask. Invest in $JMPT. Join the revolution.