Problems that we solve
Problems with Web2 Freelancing Marketplaces
1. High Fees
Platform Charges:
Web2 platforms like Upwork, Fiverr, and Freelancer.com charge commissions ranging from 10-20% of each transaction.
Additional withdrawal fees for freelancers and processing fees for clients.
How It Affects Freelancers?
Earnings are significantly reduced, particularly for small gigs.
How It Affects Clients?
Higher overall project costs, limiting their budget for creative work.
2. Payment Delays
Freelancers face delays in receiving payments due to:
Bank processing times.
Platform-specific payout schedules.
This can create financial uncertainty, particularly for freelancers in regions with limited banking access.
3. Lack of Transparency
Opaque Algorithms:
Web2 platforms rely on proprietary algorithms that determine rankings, visibility, and job recommendations.
Freelancers and clients are often left in the dark about how these algorithms function.
Dispute Resolutions:
Dispute mechanisms lack transparency and are often biased towards larger clients or frequent users.
4. Centralized Control
Platforms act as intermediaries, controlling:
Payment flows.
User accounts.
Access to gigs.
Centralized systems are prone to censorship, banning, or account freezes without adequate explanation.
5. Trust Issues
Freelancers are often hesitant to start work without upfront payments.
Clients worry about paying upfront for incomplete or subpar work.
Escrow solutions provided by platforms are costly and sometimes inadequate.
6. Limited Global Accessibility
Currency and Payment Methods:
Limited support for global currencies and payment systems, making cross-border payments cumbersome.
Regulatory Restrictions:
Some countries are excluded from participation due to platform policies or regional regulations.
7. Data Privacy Concerns
Platforms store sensitive user data, including:
Personal identification information.
Banking details.
Chat and transaction histories.
Centralized databases are vulnerable to breaches, leaks, and misuse.
How BAZD Solves These Problems
Zero or Minimal Fees
Wallet-to-wallet payments eliminate intermediary fees.
Clients and freelancers retain full control over their funds.
Instant Payments
Smart contracts ensure payments are released instantly upon task completion.
Transparent Processes
Fully auditable smart contracts for dispute resolution and payment management.
Decentralized ranking systems that rely on user reputation and past performance.
Decentralized Architecture
No centralized control; users retain ownership of their accounts and funds.
Resistant to censorship and arbitrary bans.
Trustless Escrow
Smart contract-based escrow ensures funds are locked until both parties confirm task completion.
Global Accessibility
Supports payments in cryptocurrencies, making it accessible worldwide.
Bypasses traditional banking systems and regulatory hurdles.
Enhanced Data Privacy
No personal information required beyond wallet addresses.
Transactions and communications are encrypted and stored on-chain or via decentralized storage.
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