Some studies estimate that more than 80% of Venezuela's thirty million population live and die of poverty. Once relatively well off, the country's oil-dependent economy simply collapsed when price slumped. Fuel is fast becoming one of the few things anyone can afford in Venezuela.
According to the IMF in 2018, the annual inflation in the country has topped 1.37 million percent.
Gasoline is cheap in the country, but people are starving. They don't get proper health care and education while the security situation getting worst every day. The US sanctions make it impossible for Venezuela to pay-off debt, let alone borrow money.
Even though the sanctions do not affect or prohibit the importation of basic goods such as food, medicine; the fact that there are financial sanctions in Venezuela has made difficult for the government to engage in financial transactions of almost any kind. Gregory Wilpert Co-Founder, Venelazualysis.com
As you may all have known, many crypto investors and enthusiasts see this catastrophe differently. They are calling it a Crypto Revolution; trying to encourage people to avoid hyperinflation and secure their money electronically.
The team behind Bitcoin Cash is leading the way to revolutionize money. They don't cease in building crypto infrastructure and are always making ways for cryptocurrency to be widely mass adopted. You can see Bitcoin Cash in almost every wallet, every exchange, and services.
In this article, I'm going to discuss one of the most promising infrastructures the Bitcoin Cash Team is trying to develop, and that is business outsourcing.
Outsourcing daily tasks and processes to other firms or freelancers is becoming the norm for many small businesses. The large and successful businesses are never shy when it comes to outsourcing and that has played a major part in their growth. Most of them discovered the power of outsourcing when they were just small businesses and that resulted in remarkable growth.
If you're already familiar with freelancing platforms such as Fiverr and Upwork, venezuelaworkers.com works similarly except that freelancers on it are getting paid with Bitcoin Cash. The website is a brainchild and was created by Jonald Fyookball with the support of a few programmers.
This website is for Venezuelans who are seeking job opportunities as a freelancer. Local foreigners or local Venezuelans can hire them and pay in Bitcoin Cash once the task is done.
I've signed up for an account as a client and tested the website. The user interface is clean and 100% functional. The team behind this project planned to launch it on their social media networks by August, for Venezuelans to start registering.
There are already a few freelancers on the platform as I've checked, but the public announcement of its opening is by the start of August. Once that is announced, we can definitely expect more volume on that platform.
The website allows 0-conf transactions which means the process to deposit and withdraw your BCH will be very fast and simple. Freelancers can also withdraw money instantly after finishing the task given to them so there will be no waiting time which usually takes 3-5 business days.
For me, that would mean convenience as I've been using other traditional freelancing platforms for years now and I have some bad experience where it took me a week or so to withdraw my funds after submitting a request.
The system on venezuelaworkers.com will be processed by an escrow system which is reasonable for this kind of industry to prevent scam.
As a client, you have an opportunity to grow your business and expand your channels as you can find freelancers on this platform who can help you improve your web presence, sell online through e-commerce and affiliate marketing, do social media advertising, write a copy, or create content for your business.
Now, let me give you a quick tour of the platform.
The Landing Page. The landing page is very specific about what you can do on the platform; hire freelancers and pay Bitcoin Cash. It also contains some important tips on how the platform works. You can also choose if you want it in English or Spanish.
When you scroll down a bit, you'll see that you have an option on how you would like to hire a freelancer. You can either Post a Job to discover new talents for your project or Select a Freelancer.
The below picture says you can pay for Bitcoin Cash. The payments will be handled and will be processed by an escrow for fairness between the client and the freelancer.
To be able to fully tour on the platform and see what you can do, you'll have to sign up for an account and choose if you'll be a Freelancer or a Client. Since I'm not a Venezuelan, I signed up as a Client/Employer.
Tap the three-dash button or hamburger menu on the upper-right side of the platform to start exploring your client account.
Notifications, Messages, Support, and Logout are very self-explanatory.
Profile. In this section, you have the option to upload your photo, make a bio for yourself, copy and share your profile link, and change your password. You can also see how you were rated by the freelancers you've hired.
My wallet. This is my favorite section as I can finally use my crypto to pay for a service using this feature. In this section, you can deposit & withdraw your BCH, and view your balance.
Client dashboard. This section will allow you to add or post a new job offer, review the status of an active/pending jobs, and review the completed jobs by freelancers you hired.
Tour ends here.
Conclusion
Personally, I'm looking forward to this initiative being successful. This project can help lessen the poverty rate in Venezuela. Once this kind of crypto-paying-freelancing platform becomes mainstream, it will create a positive impact not only in Venezuela but to other parts of the world.
Resources:
How its work? BCH only.