JumpTask and the Gig Economy: Web 3.0 is coming to the Microtask Market
Rapidly growing markets are bringing dramatic changes to the way people work. Long gone are days when people only had regular job contracts, and businesses ran only with their in-house staff. The gig economy offers a different path: people can work from anywhere worldwide, and companies can access a global, on-demand workforce. It did not take long before microtask platforms appeared, led by established Web 2.0 companies. JumpTask, on the other hand, is entering the stage to make a difference using Web 3.0 technology. Let’s see how.
> Microtask outsourcing is a big trend in the gig economy. It benefits both businesses and workers through new opportunities to earn, increased flexibility and cost savings.> Big established players like Amazon and Google have offerings in the microtasking space. However, traditional Web 2.0 company platforms have limitations in terms of accessibility.> JumpTask seeks to offer a revolutionary way for companies and workers to interact. Through Web 3.0 features like decentralization and crypto it brings innovative solutions to the market.> JumpTask currently offers two task modules which were successfully implemented. The community grew quickly to 400k+ members, topping $1M payouts to its users globally.
The gig economy is a massive $400B industry projected to grow in the future (see our previous article covering the gig economy basics). Furthermore, the pandemic accelerated the growth of the gig sector. The numbers are clear: the industry recorded 33% growth in 2020, with people spending more time online searching for ways to make money. At the same time, companies realized they can break down complex projects into microtasks and distribute them to workers globally. Big companies found a way to fill this need, with platforms like Amazon Mechanical Turk and Google Task Mate leading the way.
The Gig Economy and Web 2.0
Outsourcing microtasks to a globally dispersed workers benefits everyone:
- Businesses benefit from increased flexibility to hire people when needed and keep fewer permanent employees. Efficiency also increases because in-house staff can focus on more complex tasks. Finally, this results in substantial savings for businesses because it is easier to manage labor costs using a pay-per-task model.
- Workers benefit from the extra income which they get by completing simple tasks. Furthermore, they have freedom: workers can choose when and where to work. They can manage their workload and pick jobs that interest them the most.
An e-commerce and cloud computing behemoth Amazon is tackling the microtask space with its Amazon Mechanical Turk venture. MTurk is a crowdsourcing marketplace that allows companies and individuals to outsource their tasks to the global workforce. For example, businesses have a growing need for people to perform simple tasks to support machine learning and AI model development or market research projects. Examples of microtasks available are:
- Doing simple data validation
- Searching for relevant data
- Identifying elements in photos or videos
- Completing surveys and ratings
- Transcribing audio interviews
Amazon filled in the need for microtasks by companies for many years. Consequently, MTurk is still the main player in the microtask industry till this day. However, it has a big limitation: even though you can register, you will need to be accepted by MTurk to actually earn something. With JumpTask, everyone can join without any hassle and start earning.
The need for microtasks and play 2 earn apps is on the rise, thus search giant Google launched its platform Google Task Mate. While still in the Beta version, the product will offer a similar set of microtasks as Amazon for workers wanting to generate extra earnings without a specific skill set. Overall, traditional Web 2.0 players are entering the gig economy industry, but there is a lot of space for innovation — and that’s where JumpTask comes into play.
JumpTask — A Web 3.0 challenger in Microtasking Space
JumpTask has a clear vision and value proposition — to offer all the above benefits for its users and partners, plus a Web 3.0-driven experience — with unlimited access to everyone. While Amazon and Google have microtask marketplaces, JumpTask does more. It matches workers and businesses effectively and introduces crypto payments via its utility token — JMPT. These are very useful for paying unbanked freelancers for their work and educating crypto beginners about investing. Moreover, worldwide payments still have issues, with services like PayPal being geo restricted. JumpTask solves this problem too with its Web 3.0 infrastructure.
The JumpTask community grew quickly since its launch in January 2022, with registrations topping 400k at the end of April. By the end of Q2, JumpTask aims to have 1 million members and reach a major 50 million signed worker milestone in 2024.
Cumulative Total of Created Wallets in January-April, 2022
JumpTask currently has two microtask modules for its community of workers. The first module is in partnership with Honeygain, a passive income platform that allows users to share their internet bandwidth for money (see our previous article on Honeygain here). The collaboration turned out to be a success, with thousands of Honeygain users joining JumpTask and generating extra income via the JMPT utility token effortlessly.
The second module is Offerwalls, which requires a bit of effort from users to complete various offers from JumpTask partner companies. For example, users have to watch interesting videos, play amusing games or complete simple questionnaires to get paid in JumpToken. Afterward, the gig workers can HODL their earned tokens until their value appreciates, further increasing their gains. After yet another successful module, JumpTask recently celebrated a big achievement — the total amount of payouts in JMPT topped 1 million dollars!
Move to the Decentralized Microtask Platform
The JumpTask team has carefully planned the company’s trajectory and goals. The platform started as a Direct to Business service to onboard partners. Following that, JumpTask will shift to a crypto-fuelled Marketplace, finishing in the Decentralized Protocol phase, where each task module has a smart contract template. You can read more about our detailed roadmap to decentralization in our previous article. The move will facilitate the task completion process: partners will put less effort in setting up the tasks, while workers will get paid quicker.
While established players have their offerings in the microtask space, JumpTask brings innovative and bold ideas into the market by using Web 3.0 features. It already has a 400k+ user microtask platform fuelled by its utility token JMPT. Furthermore, the company has a detailed business plan to transform into a fully decentralized ecosystem running on blockchain technology. As a result, JumpTask is here to stay and shape the future gig economy for years to come.
Liking what you hear? Sign up on JumpTask. Invest in $JMPT. Join the revolution.