Bitcoin Press Release: Fueled by Bitcoin’s new payment layer, one small gig economy site is exploding in user growth and the developer behind it has big plans.
June 3rd 2020, San Francisco, US: Microlancer.io, the crypto gig platform has just announced growth statistics and it is indicating that the gig economy is just about to enter a second boom fueled by bitcoin. With 40 million unemployed in the US alone, for many, finding a job is getting close to impossible hence easy ways to earn a bit of money are an anticipated antidote to support many through recession.
Not that the Microlancer announcement would resemble in any way a Berkshire Hathaway annual shareholder conference or a Bitcoin Suisse series A promotion. The “investor” relations are kept rather pure. Investors in microlancer haven’t been venture capitalists either but simply users and supporters who love and appreciate the platform’s features. Creating a task takes less than 20 seconds and within minutes, taskers or “microlancers” from around the world will apply to fulfill the task.
Once the offer is completed the magic happens and the platform can play out its strengths. Sending the payment is as simple as taking a photo with your smartphone. Thanks to Bitcoin’s payment layer, the Lightning Network, payments are private, instant and nearly zero fees, which makes both sides very happy. The tasker receives the funds from escrow without delay and on the other side, the outsourcer saves potentially hundreds of dollars in listing and payment fees.
But what’s behind the rapid growth – is it just a fad or is there a solid business model? Tim, the single-handed developer behind the site believes that the demand is caused by a combination of economic and political factors:
“My goal for Microlancer originally was to just increase lightning adoption, because I believe our current financial system is kleptocratic, unjust and unfair and Bitcoin is a great alternative. People who are unbanked are completely excluded from global commerce and basically have to decide whether to accept their poverty or struggle against a system that works against them. Microlancer solves that problem.”
It’s undeniable that Bitcoin adoption is going forward stronger than ever in places like Africa or Latin America, in countries that have been suffocated for years from economic devastation and inflation. When people are restricted from remittance and international transfers and the economy is breaking into pieces, the ability to work can be a matter of survival and sites like Microlancer can be a real blessing.
5000 satoshis, about 50 cents, might not be worth a mouse click in the US but it’s a breakfast with coffee in Ghana. And for 5000 satoshis you can outsource more than you think. Finding a hotel, or phone repair shop in a foreign city, letting someone design a logo for your new dog salon business. Whatever you are too lazy to do or to google, on Microlancer someone will be happy to do it for you. This doesn’t exclude professional use and more and more employers are attracted to the site for it’s extreme competitive pricing and convenience. Tim also said:
“I wanted to help people who were unable to work on traditional sites because they couldn’t fulfill the privacy-invading KYC requirements and the high fees would eat all their work, those people are the most excited about using Microlancer”
And it seems Microlancer has hit a nerve as latest statistics reflect rapid growth and an astonishing amount of users signed up. But will it make a dent against the big players in the gig economy? Freelancer, Fiverr and Upwork are now multimillion dollar platforms with millions in funding. Upwork had $168.8M funding, hundreds of employees and it’s IPO valuation at Nasdaq was $1.6B. Tim continues:
“I’m one little guy fighting against $1.6B mammoths – but the truth is that corporations have disadvantages too. They are slow and bureaucratic and they aren’t innovative enough to see the potential of lightning. Users will go choose the better service and I am pretty optimistic our growth curve will soon be even steeper especially when Bitcoin sees greater adoption and new all time highs. Then it’s inevitable.”
To find out more and start earning Sats today, visit the website at https://microlancer.io/
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