By 2027, more than half of the U.S. workforce will be self-employed.
That means 86.5 million Americans will be part of the gig economy at least part-time, according to a recent study by Statista. That’s up from 67.6 million this year, and the pandemic has only accelerated that trend, as a recent study of the $ 1.2 trillion industry showed that 12% of the workforce American work tried freelance work for the first time in the past 12 months.
And all these decentralized workers will have to find and work with customers, that’s where HYVE comes in.
A decentralized platform designed to eliminate middlemen from the freelance and workforce sector, HYVE has no plans to fix the business, which it says is down.
âWe don’t hit it with a 10-foot post,â the company says. âWe are building it from scratch. “
A community-run ecosystem, HYVE wants to bring the power of decentralized blockchain technology to every part of the gig economy. This means that putting workers in touch with people and companies who want to hire them is just the first step. It also plans to integrate smart contracts and decentralized governance at the heart of task development, procurement and the payment process.
An essential part of ‘HYVE’s strategic plan is to unravel what it sees as the main problems plaguing centralized workforce and concert platforms – a “rigid model” that tries to force hireers out. adapt their tasks and jobs to the design or dissemination of the site. their work on multiple platforms. Complexity aside, this means suppliers and employers alike have to lose the benefits of building a reputation on one site.
Hyde’s model is to categorize tasks and jobs based on how they are judged, approved, and verified rather than the nature of the task itself. This uses a four-part model, starting with how the task is verified – by human judgment or a smart contract trigger protocol – then whether it’s visible to everyone, when payment is made, and whether vendors. must be preselected.
Another aspect of the platform is to encourage suppliers to form autonomous teams, called âhyvesâ of course, who can apply jointly and collaborate on tasks. At the same time, there is also a provision for ‘agents’ – essentially intermediaries connecting employers and workers – and 9 to 5 hiring, a dispute resolution system and a robust feedback mechanism. to build a reputation (good or bad). Data storage and privacy is maintained through the use of IPFS, the decentralized Web 3.0 protocol storage system.
Besides a highly adaptable back-end and a user-friendly front-end, HYVE Core is a collection of public and verifiable smart contracts that can be added freely. The launch of the main HYVE network is scheduled for the third quarter of 2021.
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Like any decentralized platform, the core of HYVE’s governance model is a token – HYVE, an ERC-777 token backward compatible with Ethereum’s ERC-20 standard.
For starters, the job advertisement fee favors HYVE. Fiat is full price, Ether or any ERC-20 token is half price, HYVE is quarter, and a job both listed and paid for in HYVE is free.
HYVE is also a governance token, with staking required to propose or vote on changes. Stitchers can also get a percentage of non-trust fees, which is split 50-50 between the staking contract and a community reward chest.
On May 21, HYVE was listed by KuCoin, a major cryptocurrency exchange that currently has the sixth highest exchange score on CoinMarketCap, as well as a 24-hour trading volume of over 2.8. billions of dollars.
âWe are extremely proud to announce the partnership with KuCoin as it is an important step in our business development and very necessary to provide our community with a trustworthy trading environment,â said Tudor Stomff, CEO by HYVE.
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