Why Use of Blockchain Technology in Freelance and Other Industries is on Rise?

Warsaw, Poland, 2018-Feb-23 — /EPR Network/ — By allowing the digital information to be distributed but not copied, blockchain technology literally created a new type of internet. Originally invented for the digital currency Bitcoin, the revolutionary technology has found wider use in other industry segments by the tech community including the freelancing.

Publicly Held Records

Information held on a blockchain exists as a shared database. The database isn’t stored on a single location, like the traditional centralized banking systems, rather the records are truly made public that could be verified as well for authenticity. Since data is hosted on millions of computers simultaneously, it becomes literally incorruptible by a hacker.

Validation Mechanism

Since the storing blocks of information are identical across the network, blockchain has no single point of failure, unlike the centralized systems, and is not controlled by a single user. The technology brings everyone to the highest level of accountability. There are no human or machine errors. By recording a transaction not only on a main register but a connected distributed system of registers which are connected through a secure validation mechanism, blockchain guarantees the validation of a transaction.

Smart Contracts and Interactions of Value

Blockchain Technology offers new tools for online authentication and authorization that preclude the necessity of a centralized administration. This enables for the creation and formalization of new digital relationships that involve the transactions and interactions of value. Smart contracts make it possible to manage the remote systems. These can be used to protect the copyright and automate the sale of creative works online. This way, the risks of redistribution and copying are eliminated. In the future, blockchain will allow the users to sell the data generated through their online activity.

Blockchain in Freelance Industry

There is a definite need for better identity management in freelance based projects so that the clients know that they are interacting with real human being for freelance work, and the freelancer knows that they are working on a real project. Remedies for the security risks associated with the theft of online identity are imperfect at best. Use of blockchain technology in freelance projects identifies in a foolproof manner who you are. Having a secure identity is important for online interactions and transactions.

The blockchain potentially cuts out the middleman in freelance networks. Ethereum Based Smart Contracts that execute when specified conditions are met have huge potential to leverage the usefulness of Blockchain Technology Platform in the freelance industry on a truly world-changing scale.

FreelancerCoin has utilized the prowess of blockchain to offer a platform to the clients where they can get the best talent for their projects. It also allows the freelancers to charge a profitable price for their work. Visit the official site to know how the blockchain is making inroads into the freelancing industry and changing it for good.

Media Contact :-
FreelancerCoin
Company: Freelancercoin ICO
Address: Warsaw, Poland Zip (00-375)
FreelancerCoin Marketplace: http://platform.freelancercoin.io/
Website: https://www.freelancercoin.io/