Get 400 BWX tokens free. My referral link http://wwwbluewhalefoundation.ref-r.com/c/i/18449/9848308
Source: Blue Whale Medium Blog
Blue Whale is the first Dapp to be built on the ICON ICO platform Iconest.
Blue Whale is going to transform the gig or freelance industry with their decentralised ecosystem. Blue Whale aims to tackle the insecurity experienced by freelancers, independent contractors, and part-time workers by offering individuals who join their network the following benefits that are mainly available to traditional/full-time employees such as : pensions, paid time off and insurance. Small and medium business owners(SMEs) will also benefit from reduced advertising and marketing costs.
In their white paper the Blue Whale Network proposes to offer solutions to the following problems experienced by freelancers and small and medium business owners:
High Commission Rates -
For example sharing economy platforms like Uber and Lyft charge between 25% - 42.75% commission, and Fiverr, a freelance marketplace 22.9%.
Expensive marketing and advertising costs -
Placing ads on centralised platforms like Facebook and Google are costly to small and medium business owners. For example a Facebook Ad average costs $1.72 per click and Google Adwords $2.32 per click. Hence "the average small business using Google Ad Words spends between $9,000 and $10,000 per month and $100,000 to $120,000 per year on their online advertising campaigns alone."
Lack of employment security-
Sharing economy platforms do not offer employment benefits and Blue Whale is going to disrupt that business model by offering retiring plans, unemployment benefits and paid time off.
Blue Whale will tackle all these problems with their innovative WORK (Worker Optimized Reward Keeper) system. It contains three components :
- Contribution Activity Manager (CAM)
The CAM has been designed to distribute the rewards earned through contributor activities such as referrals, lead generation, curation, verification, arbitration, and reputation.
- Decentralized Associated Network (DAN)
The DAN is created by installing SaaS tools such as Booking and CRM software on websites and social media accounts, transforming each website/social media account into a node in the network. The main purpose of DAN is to collect user data and build a decentralised advertising network as a main business model of Blue Whale Network.
- Reward Bank (ReBa)
The Reward Bank functions as a depository for receiving and disbursing rewarded Blue Whale eXchange (BWX) from providers to contributors. Twenty percent (20%) of BWX offered at Blue Whale’s initial ICO will be kept in the Reward Bank. In addition, 60% of net profits and freelancers’ referral rewards will also be kept in the Reward Bank. Deposits in the Reward Bank will be utilized as welfare benefits for freelancers as follows: pensions and paid sick leave.
One question that may come to mind is -Is anyone else doing something similar? From my research I've found that In the USA, the Freelancers Union offer similar benefits to freelance workers.
I think this is a good project because:
The problem they are solving is massive and global. According to the Freetrain website, freelancers contribute $715 billion dollars to the USA economy and 21 billion pounds to the UK economy. The industry is therefore worth at least 1 trillion dollars. And the digital advertising industry is worth 192 billion dollars as reported by the digita global marketing website.
The team is very competent. The co founders are heavy hitters, they come from Oracle, Sun Microsystems, NASA and Samsung. Their developers have earned blockchain technology experience with projects like Ethereum, Lisk, Hyperledger and Loopchain. Additionally, they have two persons from the ICON Foundation on their advisory team.
They have developed partnerships - ICON and Verlocal are reported on their website.
To participate in the airdrop you will need to join their telegram and provide and Ethererum (ETH) address to receive the tokens.
I will appreciate if you use my referral link : http://wwwbluewhalefoundation.ref-r.com/c/i/18449/9848308
For more details read their whitepaper https://www.bluewhale.foundation/assets/Bluewhale_White_Paper_ENG_V.pdf