JumpTask as a Gig Economy Platform. Why the Gig Economy?
With JumpTask, a gig economy-based digital platform, current and potential gig workers worldwide will be equipped with a new means to quickly and easily find microtasks to work on and generate extra income whenever they find it the most convenient without needing to undergo complex training, gain skills or memorize specific information.
Additionally, crypto beginners will find it easier to explore the market due to generating income in the form of JumpTask’s own crypto coin — JumpToken (JMPT). Enabling inexperienced users to start investing in cryptocurrencies by using their additional earnings in JMPT will prevent them from putting their fiat savings on the line and allow them to enjoy the benefits of owning and using cryptocurrencies risk-free.
Find more information: jumptask.io
What is the gig economy nowadays?
According to the official definition introduced by the UK’s Department for Business, Energy and Industrial Strategy and the Institute for Employment Studies, ‘the gig economy involves the exchange of labor for money between individuals or companies via digital platforms that actively facilitate matching between providers and customers, on a short-term and payment by task basis.’ In short, being a gig worker means that instead of signing full-time contracts and working a predefined number of hours every week, you get paid for ‘gigs’ — individual tasks or projects you complete.
Gig workers are deemed as independent contractors that:
- work for clients instead of employers
- can switch between clients flexibly
- can have multiple clients at the same time
The main benefit provided to the workers by the gig economy is the freedom to:
- set their own hours
- decide on their workload
- choose projects based on their requirements and the worker’s preferences
The boom of the gig economy
It is stated that the number of people working independently in North America and Western Europe is currently around 150 million — and the growth is not even close to stopping. The already huge US gig workforce is expected to grow by 50% in the next 7 years, and the gross volume of the gig economy is expected to surpass $400 billion in 2022.
Due to unmatched flexibility and accessibility that’s not affected by time zones or country borders, most gig workers are using digital platforms to find work. These platforms can be:
- General (all types of services — e.g., Fiverr)
- Industry-specific (various services in one industry — e.g., Catalant)
- Service-specific (a particular type of service only — e.g., Uber)
Based on their complexity and the time it takes to complete them, all gigs can also be roughly divided into groups:
- Macrotasks — projects that require professional skill and time commitment (e.g., website building, ghostwriting, or creating personalized designs).
Workers typically have a portfolio that includes their rates, work examples, and reviews from previous clients. They can be compensated at a fixed or hourly rate.
Platform examples: Upwork, Guru, Toptal.
- Microtasks — small pieces of work that require little to none specific knowledge or training to complete in a short period of time (e.g., data validation, audio transcription, or image content classification).
Since there is no need for special skills or experience, workers don’t normally have detailed profiles. They are compensated at a fixed rate.
Platform examples: Amazon Mechanical Turk, Clickworker, Microworker.
JumpTask as a gig economy network
Having followed the market trends closely for multiple years and identified the constantly growing demand for globally accessible digital platforms that allow their users to earn a profit, JumpTask launched a gig economy-based web network as a means of distributing its coin and instantly making it a legitimate currency with a tangible value. During the following 2 years, it will focus on different types of microtasks that can be completed quickly without any specific skills, background, or experience.
Another definite strength JumpTask has from the get-go when it comes to the gig economy is the opportunity to pay its users in cryptocurrencies. In its Gig Economy Industry Outlook and Needs Assessment in 2019, Mastercard identified providing more payment options and banking alternatives for unbanked freelancers as some of the best ways for digital work platforms to ensure efficient gig worker acquisition and retention.
Offering payments in cryptocurrency will enable JumpTask to compensate the unbanked for their efforts, as well as keep the transaction costs and the time it takes to reach the user to an absolute minimum.