Are you tired of the high fees charged by freelancer websites? Are you in search of a freelance marketplace with a better fee structure? There are now many employment hubs where clients can interact with freelancers who bid for work. But most of them lack transparency, charge high or hidden fees, and have inefficient or ineffective dispute resolution processes.
What is LaborX?
LaborX is a blockchain-based freelancing marketplace where you can advertise your skills to the world without any kind of barrier. Companies and clients will find this decentralized freelancing site far better than traditional platforms. LaborX is new to the market, and its main aim is to bring trust and transparency to the freelancing industry, enabling clients and freelancers to work together without high fees or the risk of losing their funds due to an unfair dispute resolution system.
The platform is built on the Ethereum blockchain, with smart contracts ensuring safety and security to freelancers as well as customers. Moreover, the lower fees make it more attractive than its competitors.
LaborX is operated and controlled by Australian blockchain company Chrono.tech, which provides crypto and blockchain solutions for the HR industry. Users of the platform may also enjoy the benefits of the company’s other products. These include TimeX, a hybrid crypto exchange; PaymentX, a cryptocurrency payroll solution, which allows customers to submit invoices and settle payments; and AUDT, an Australian dollar-backed stablecoin.
How is LaborX better than traditional freelancing platforms?
Given that the platform will be new to both clients and freelancers, it may be hard for them to trust the site. With this in mind, I have extensively researched and checked it to ensure its reliability and efficiency. I have found LaborX to be a step ahead of other prominent conventional freelancing sites, because it gives users confidence and reassurance by providing smart contract-powered digital work agreements between freelancers and clients.
Moreover, I have checked the background of the company that built the blockchain-based on-demand employment platform. Chrono.tech, the parent company of LaborX, aims to bring a payment revolution to the global recruitment industry, removing third parties to ensure greater trust and transparency than ever before.
Advantages of LaborX
LaborX provides not just one but many advantages over its competitors. Fees are very low compared to traditional freelancing platforms, as you can see yourself upon opening an account on the website. There is obviously demand for a platform on which people can offer their services directly to clients, without middlemen, and with lower fees being deducted as a result. Finally, freelancers have LaborX’s guarantees of security and transparency, easing any concerns about interacting with an on-demand employment portal.
Established names in the industry charge fees of up to 20%, which are uncomfortably high for those who depend on freelancing for their livelihood. LaborX, meanwhile, charges fees ranging from 0-6%, much lower than its rivals.
Another huge advantage of LaborX is the ability to send and receive payments quickly and securely, using cryptocurrency.
How to get started with LaborX
The registration process is straightforward, requiring only a few simple steps. Simply click on ‘Sign Up’ at the top right-hand corner of the homepage, and the registration form will pop up.
If you are a client and need an individual to complete work for you, select the ‘Customer’ button; if you run a company and need people for your business, then select the ‘Company’ option. If you are a freelancer, select the ‘Freelancer’ option.
Fill out the form by adding the required information, including email, first name, last name, and create a strong password. You can also register with your Facebook, LinkedIn, or Gmail account.
Once you put all the required data, you will be able to use LaborX to post or apply for jobs.
LaborX’s Reputation module provides an unbiased rating based on independent variables. The module assists customers and companies in finding the most suitable and skillful freelancers for their work or project, and freelancers in finding the most reliable customers. The reputation score is based on successfully completed contracts, reviews, and many other relevant and important factors. The independent and unalterable nature of the rating system provides a clear way for clients to find the best freelancers, and vice versa.
Unbiased dispute resolution process
Sometimes, disputes between clients and freelancers arise, which will then need to be resolved by a mediator. The mediator could be a third party or from the team responsible for the freelancer platform. However, there will typically be fixed fees for resolving a dispute, which vary from one employment website to another. On LaborX, the cost for dispute resolution is just $200, while its competitor companies often charge $600-800 for the same task. This alone shows how a DLT-based on-demand platform is better than the conventional solutions on the market. They also claim 100% transparency and an unbiased attitude during the whole resolution process.
Smart contracts instead of traditional agreements
The traditional practice of signing contracts between two parties is over, replaced by the digital era. Based on the blockchain, LaborX offers the advantages of smart contracts. The functionality of smart contracts will bring trust and transparency to the freelancing world. Digital contracts will also offer greater protections to both clients and freelancers. These blockchain-based contracts include contract conditions such as deadlines and payment dates. Freelancers do not need to worry about receiving payment, as funds are held in escrow, to be released upon completion of the relevant tasks.
Get paid in crypto
On traditional freelancing sites, payments are made in fiat currency and the whole process can be lengthy and tedious. There can be long delays before the money reaches your account, and depending on your country of origin, you may have problems receiving payment at all.
LaborX removes all of these complications, since payments are made in cryptocurrency. In a matter of minutes, you can receive your payment in your wallet, and the whole process is secure and private.
Integration with TimeX and PaymentX
LaborX is integrated with TimeX and PaymentX to provide users with all the facilities they need to manage their crypto payments. TimeX is a hybrid cryptocurrency exchange that combines the features of centralized and decentralized systems to ensure speed, privacy, transparency, and security. This enables easy currency conversion, with low fees and straightforward access due to its integration with LaborX.
PaymentX offers payment solutions to companies and firms, allowing them to pay their employees around the world in cryptocurrency. PaymentX is also integrated with LaborX, allowing fast and easy payments.
Almost all of the major online employment companies charge high commission fees. If you currently use one of these sites and dislike the high fees, then LaborX is a great option for you. The fees are much lower compared to conventional freelancing giants. As a member of LaborX, you can work without losing a large cut of your pay. According to LaborX, the service charges fees ranging from 0-6%.
You can upgrade your regular membership to Premium membership of LaborX. There are multiple benefits of a Premium account, such as 80% referral bonuses, low dispute resolution fees, a higher chance of getting work, and a cashback program. Moreover, Premium users gain a fee-free service. Freelancers save 5%, while clients save the 1% fees on every completed contract.
The user interface for LaborX is easy to navigate and labeled with step-by-step instructions. You don’t need to consult anyone when creating your account with LaborX, as the whole process is very straightforward. This makes interacting with the platform easy and smooth. In case of any queries, you can contact the team via email@example.com.
Is it a legitimate freelancing platform?
No one can doubt the legitimacy of LaborX, as it was developed by Chrono.tech. The Sydney-based blockchain firm was founded in 2016 after a successful token sale. The company was founded by Sergei Sergienko, who is also the CEO of the company. Sergienko is a prominent name in the Australian business world, and has won several awards.
LaborX is a newly-launched on-demand employment platform, but it has all the features and functionality necessary to offer its users a great freelancing experience. The excellent user interface is designed by skilled developers to ensure easy use, but the two stand-out features enabled by blockchain are smart contracts (digital work agreements) and instant cryptocurrency payments.