Decentralized Gig economy
The Gig economy is a $400+ billion dollars industry. The demand for freelancers is at all time high due to a number of reasons- work from home preference, talents wanting to work on different projects, etc. The gig economy is ripe for decentralization. There are many protocols, working for the decentralized gig economy.
Analysis of Braintrust :
Braintrust is a decentralized talent network/ marketplace unlike Toptal, Upwork, Fiverr, etc. The Gig economy is more than $400 Billion and is expected to grow at healthy rates. The current web 2 talent network/ platforms has some in-built problems like mis-aligned incentives, governance issues, work history data, high fees, etc.
Problem Statement :
- High fees on Talent networks ( upwork, Toptal, etc charges from 15% to 30%)
- Work History can’t be imported to another freelance platform
- Ownership of the platform is concentrated among few Investors
Braintrust solutions :
- it allows talent/ freelancers to retain 100% of their earnings
- No middlemen
- more control in the hand of the community (Freelancers, recruiters, token holders)
Competitors :
LaborX, Blocklancer, Mentat, Ethlance
Market size / TAM :
- The gig economy is $400 Billion and is expected to grow at a CAGR of 7.7%.
- There are more than 160 million freelancers worldwide.
