BLUE WHALE - Self-Employed Work Rewards Foundation

Bluewhale is a remarkable cryptocurrency project in the world as it is the first one of its kind. The foundation will be raising funds and building on top of the ICON blockchain. Blue Whale is set to greatly interrupt the “Gig” or “sharing” economy with a fully decentralized ecosystem. This blockchain is trying to give the World’s freelancers the same rights and benefits that have previously not been available to them. Blue Whale wants to knock down the centralized barriers that have built by taking on some of the biggest names in the industry such as Uber, Fiverr, and AirBnB. Participants can benefit only when the Gig economy is truly based on decentralized technology.

The Problem

It is well known that the workers who sell their services in the Gig economy are viewed as nothing more than a commodity and can be driven down in price to the lowest cent. The service providers such a Fiverr, Uber and TaskRabbit charge exorbitant commission rates. Moreover, these freelancers lack many of the benefits that are afforded more traditional workers such as unemployment insurance, health insurance, and sick leave. That is all based on their “independent contractor” status. Yet, these workers are in a catch 22 situation. Although they would like a more favorable deal, they know that it could cost a great deal more if they had to try and do it themselves. Through centralized actors such as Facebook and Google, online advertising for freelancers is highly expensive. This all means that the sector is ripe for a shakeup.

The Blue Whale Solution

With use of a unique system called the WORK (Worker Optimized Reward Keeper) The Blue Whale foundation is going to solve the above problem. This will be made up of three unique parts. These are the Contribution Activity Manager (CAM), Decentralised Associate Network (DAN) and the Reward Bank (ReBa).

Contribution Activity Manager (CAM)

The system which supports the tracking and distribution of rewards to users. By the completion of a different range of tasks including successful introduction of new clients or freelancers to the platform, the incentives are getting rewarded. Other rewards include successful driving of traffic to various service providers as an influencer and established recommender.

Decentralized Associated Network (DAN)

Decentralized Associated Network is the name which Blue Whale uses to refer to its community of freelancers and clients. One of the main draws for both parties is the competitive cost and value propositions. The advantages of their decentralized interpersonal databases are connected to the implementation of cutting-edge machine learning activity. Additional unique selling points of this network include the provision of a comprehensive suite of valuable business development tools – giving freelancers unparalleled support for scaling and streamlining their operations.

Reward Bank (ReBa)

This is the decentralized body which is responsible for the automated processing of payments of both receipt and distribution for the Blue Whale eXchange coin. By the algorithmic and machine learning systems contained within the DAN, all the activities and decisions implemented by the Reward Bank are informed. And also each and every transaction are transparent and trackable on the ICON decentralized blockchain.