Blue Whale: The Blockchain Version of Upwork

Blue Whale Foundation, headquartered in Singapore, describes itself as “The decentralized ecosystem for the self employed.”

The company aspires to “empower the world’s freelance community by creating the largest worker-centric decentralized ecosystem where independent workers can pursue their passions and get the value they deserve from the gig economy.”

Furthermore, they state their “Decentralised network disrupts existing centralised platforms which have monopolised public resources, exacerbated economic inequality and increased the wealth gap. Blue Whale’s W.O.R.K. system is a revolutionary, sustainable cycle that fuels Sharing Economy. Whether you are a self-employed or a owner of small business, your benefit and welfare will be covered. The transparency achieved through blockchain technology means your earnest contribution in the market will be returned to you through Blue Whale’s Reward Bank. Coupled with no commission and free tools mean you no longer have to count pennies for marketing and advertising budget for your services.”

CEO, Will Lee states, “Currently, Blue Whale is the only comprehensive solution that addresses the fundamental problems faced by the dissolution of traditional employment – and also with it the social protections and employee benefits.”

Furthermore, while discussing the current centralized entities, he states, “They’ve come to monopolize data-based services that facilitate matching demand to supply on a large scale.  Instead of a genuine sharing economy, the freelancers who work for these platforms face 1) high commission, 2) excessive advertising costs for SMBs and freelancers, 3) no employment for SMBS and freelancers.”