HYVE versus centralized freelancing platforms: what are the differences?

The gig economy is booming. Freelancers are active participants in the world economy, with younger generations starting to lean towards self-employment.

If you’re a novice freelancer, the question you should be asking yourself is whether you should opt for a traditional centralized platform, or turn to a decentralized platform. More importantly, what are the differences between the two, and what is the best option for kickstarting your freelancing business? There’s no straightforward answer, you have to decide for yourself.

If you want to stay up-to-date, you need to know which freelancing website is the best option for you.

The problems of centralized freelancing platforms

With technology playing a huge part in eliminating regional boundaries, now almost everyone has access to the global freelance market.

However, traditional centralized freelancing platforms have some significant drawbacks. For instance, freelancers are hit with high platform usage fees and slow payment processing. Payments coming through late are a common occurrence, and if that wasn’t enough, the perceived fee for major platforms such as Upwork or Fiverr ranges between 10-25%. Add that to the existing state taxes you have to pay, and now the amount you earn as a freelancing doesn't seem so enticing anymore. In addition, clients sometimes have to deal with unreliable workers and poor quality of work, until they find a matching professional for their assignment.

On the other hand, centralized freelancing platforms tend to side mostly with the clients rather than freelancers, in the case of a dispute – the reason is that clients are the ones who bring money to the platform.

Every platform has a niche with its community and usually a unique reputational system. The result? If you are well-reviewed on Upwork and want to do a gig on Fiverr, chances are it’s not going to be so easy. That is unless you’re willing to spend another couple of months rebuilding your reputation on Fiverr, and that will only work until you want to migrate to the next better-paying freelance platform.

The future of work: Decentralized freelancing platforms

The degree of transparency and privacy that blockchain provides for businesses is one of its most enticing features. Blockchain shifts trust from central authorities to a decentralized consensus among all the network participants, thereby increasing trust and security in a fully community governed ecosystem. It’s time to decentralize the gig economy!

HYVE offers companies of all kinds access to a community of borderless freelancers, making recruiting almost costless and easily accessible. We use no filters, and we also let you set your preferences. That being said, whether you want to hire someone in the long term or you intend to pay one or more individuals to help you at one specific activity, the final decision is yours to make - the platform will provide options for all your needs!

No intermediaries

Decentralization involves frictionless cooperation on the market. It also means that different parties can add value to each other without a middleman or central authority.

Blockchains support the formation of more complex value networks. HYVE, like other projects within the crypto space, offers various features that make it unique from traditional online work platforms.

By charging high usage fees, traditional freelancing platforms such as Upwork or Fiverr act as middlemen, effectively reducing freelancer compensation, meaning a significant percentage is taken from a freelancer’s earnings.

Users can interact directly with each other via a protocol rather than through a centralized freelancing platform.  

Profile versatility

The blueprint of a freelancer’s success is mostly determined by his profile. By working on HYVE, both freelancers and clients have complete control over the data shown on their profiles.

Come showcase your freelancing services online!

It’s easy to create an account and apply for all kinds of jobs and gigs to connect with potential clients. HYVE has an extensive list of skills that can help you highlight your strengths and connect you with the right employers or relevant projects. It’s easy - select matching skills, write a compelling description, set up your freelance rates in cryptocurrencies of your choice. Lastly, you can now start looking for freelancing clients.

Instant payments

For a traditional freelancing website, it can sometimes take up to two weeks for funds to reach your account. If you are a freelancer from a developing country, who might be unbanked, you will encounter even more issues when receiving payment. But this is not how things should work. Fees should be transparent and incentives should be aligned.

That’s another great thing about decentralized freelancing platforms. HYVE ensures instant and guaranteed payment for the provided services, powered by blockchain.

At the center of the ecosystem lies the $HYVE token, which fuels the
governance and staking functionalities of the ecosystem. The token has built-in
utility ranging from being able to use it to lower fees, pay people, participate in platform governance, and even staking the token to help sustain the HYVE ecosystem. Payment is allowed in a variety of cryptocurrencies and stablecoins, with the possibility of reducing fees when paying in the $HYVE token. Payment in cryptocurrencies provides numerous advantages, reducing many of the hidden fees one can encounter when freelancing.

Smart contracts for new incentives

HYVE ensures privacy, fairness, and transparency, but it also reduces transaction fees and provides unique collaborative tools incentives that make the work experience better for everyone. The use of tokens and smart contracts provides unique advantages and improves the overall collaborative experience.

In addition, you can stake your earnings through $HYVE to generate a passive income. HYVE is entirely driven by its community, with the $HYVE token being the main tool used in platform governance, after all. Users who stake $HYVE have a larger say in the project’s current and future developments and are called upon to manage disputes reasonably.

Due to the immutability of smart contracts, payments and other actions are irreversible and tamper-proof. If a freelancer posts a negative client review, the client has no way to deny or alter what should be public knowledge — at least, not without a community vote.

New promising cryptocurrencies are encouraged to incubate and launch on HYVE's highly customizable infrastructure. All the different modules can be accessed and used independently within a cross-chain infrastructure, making it easy to onboard new products and enable platform governance as in the case of HYVE. Of course, we take care of the listing procedure as well, offering new startups access to required funding, as well as our investors and the HYVE community & network.

HYVE aspires to onboard people in a digital borderless society

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