Blockchain start-up creates a marketplace for freelancers

Blockchain start-up creates a marketplace for freelancers

The London-based company Colony (colony.io) harnesses the blockchain technology to encourage collaboration between employers and freelancers.

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The London-based company Colony (colony.io) harnesses the blockchain technology to encourage collaboration between employers and freelancers.

Founded by Jack Du Rose and Collin Vine, the start-up enables people to form “colonies”. The freelancers participating in these groups receive part of the capital as compensation for their services. The decentralized company rewards creators with stock value in the form of cryptocurrency called “nectar”, according to the Intrepid review (medium.com).

“Colonies are kind of like companies, except instead of being managed by fallible individuals, Colony harnesses the wisdom of the crowd to make sure that the right things get done by the right people, at the right time.”, reads the Colony website. Moreover, they add that starting a colony is as easy as starting a Facebook group, while contributing is as simple as tweeting.

The blockchain start-up has recently won the Consensus 2016 Proof of Work startup showcase competition and a prize of $10,000. In his presentation available at: coindesk.com, co-founder Vine said that Colony is a place, where freelancers can create and contribute to projects online together. “Their contributions give them a stake in that project in direct proportion to the work that they do”, he explained.

According to Colony`s creators, the platform will enable organizations to open up to trusted contributors. Thus, they will be able to solve their problems by benefiting from the true expertise of the global workforce.

“We have a Colony platform which would make it easy for any company and any person to be able to access this technology”, said Vine at the Dutch Blockchain Conference in Amsterdam (dutchblockchainconference.com).

Colony also integrates well with other services such as Twitter, Dropbox, MailChimp and Google Docs.

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