UberPro is Disrupting the $1.5 Trillion Freelancer Industry
In 2014, there were approximately 77 million freelancers around the world, with the freelance economy surpassing $1.5 Trillion USD. If only 0.1% of the freelance economy was transacted on UberPro, the amount of capital in circulation on our decentralized platform would exceed $1,500,000,000.
Did You Know?
- • In 2015, nearly 54 million Americans did some freelancing work, representing more than 33% of the entire U.S. workforce, an increase of 700,000 freelancers each year.
- • As of 2017, it is estimated that half of workers in the United States and United Kingdom will be participate in some form of independent work within the next 3-5 years.
- • There was a 45% increase in the number of independent workers from 2012 to 2013 in the European Union, with the numbers of freelancers in Europe reaching 8.9 million.
- • India’s independent workforce is the second largest in the world at 15 million (approximately 40% of the world’s freelance jobs).
- • While workers of all ages are part of the freelance economy, millennials make up the largest portion, with over one-third of Millennials working as freelancers.
Throughout the world, proliferating technologies, devices and channels have empowered the freelance economy to new heights as the rise of digital marketplaces have made finding work easier for freelancers.
UberPro Solves Problems in the Freelance Industry
Our team members have been active as both sellers and buyers of freelance services for years. We have extensive knowledge and expertise in the IT market and global trends in the freelance economy; and we are keenly aware of the opportunities and solutions that can be realized with blockchain technology for the freelance industry.
Currently, there are millions of user participating in online freelance platforms. But these centralized sites come with many disadvantages and shortcomings for the freelancers and the customers, including exorbitantly high fees, and way too much centralized power and control in the hands of the middleman, among others.
UberPro solves these problems by providing a decentralized community for freelancers with significantly lower fees, the first truly decentralized freelance marketplace powered with blockchain technology.
Some popular centralized sites for freelancing services are Fiverr and Freelancer.com. Fiverr is the most popular freelance market website. It has been ranked among the 200 most popular sites in the world, and among the 100 most popular sites in the U.S. Freelance services are purchased every five seconds on this digital marketplace, with a total of over 25 million projects completed. The demand for freelance platforms is evident by the popularity of this site. However, the problem with this existing centralized site is also evident:
- • Fiverr charges 20% from freelancers for all transactions. It’s a very high percentage to charge for their fees, but there charge more beyond this.
- • Fiverr charges a 20% commission on all tips received by freelancers.
- • Fiverr makes freelancers wait for 60-90 days to receive their payment.
- • Fiverr also requires users who withdraw their revenue to their Paypal account to pay for some of these transaction fees. (This does not include additional fees that users may have to pay to withdraw funds into their bank account from their Paypal account).
- • Beyond these excessive fees charged to freelancers, Fiverr also charges up to 20% from buyers.
Freelancer.com is another popular marketplace for freelance services, with more than 26 million users from 247 countries, regions and territories. To date, there have been over 13 million jobs posted on Freelancer.com. Like other centralized sites, they also charge prohibitive fees from freelancers:
- • As high as 10-20% in fees charged from project revenues
- • Freelancer.com also charges for membership plans on their site. There is a wide price range, up to as high as $59.95/ month.
- • There are many additional fees for highlighting bids, entries, and listing in directory fees.
- • Up to $15 for exams to showcase qualifications.
- • 5% or $5 (whichever is higher) for arbitration fees should disputes arise between the freelancer and client.
There is a myriad of other fees charged to customers, including:
- • Nearly $200 for a full-time posting
- • $19 each for Private postings, Non-Disclosure Agreement, and/or IP Agreement
- • $5 to post more than one project[xiv]
- • $5 to delete a project
- • $9 to extend a project
- $9 each for featuring a project, marking it as urgent, and/or sealing bids,
- • The charges go even higher for buyers to do contests on this site, up to 50% for extending a contest.
- • 50 for directory sponsorship
As you can see, these fees range into extreme levels, for many unnecessary charges. To top this long list off, Freelancer.com also charges user accounts that have not logged in for six months a maintenance fee of up to $10 per month, until the account is either terminated or reactivated.
Then there are also the transaction and withdrawal fees, which go as high as $25 for international wires. Freelancer.com also takes $1 per transaction when freelancers withdraw funds to Paypal. The site also imposes a minimum withdrawal (after fees) of $30 USD.
These centralized sites clearly demonstrate the need for a decentralized freelance platform. UberPro solves problems that exist with centralized sites charging high fees from sellers and buyers of freelance services. Through cutting-edge blockchain technology, UberPro puts the power into the hands of freelancers and customers by eliminating the middleman to drastically reduce costs and decentralize the market for freelancers.