Decentralized employment company, Colony, promises to connect employers with freelancers all over the world.
As the winner of the Consensus 2016 Proof of Work startup showcase, Colony is looking into the future of work and is calling itself a Github with a business model.
It’s open-source, but with a business model.
With most companies, decision making is often given to one person. Individuals can be fallible. Situations can be so different that one person may not have the correct expertise to govern decisions in all areas. This is why Colony harnesses the wisdom of the crowd. With Colony, decisions are made democratically, giving everyone a voice. They ensure that the right things get done by the right people, at the right time.
Over time users build reputations that demonstrate what they are capable of. Freelancers, software developers, and others will employ their talents through Colony’s ecosystem where users will no longer be constrained by their CV.
If you are awesome at something, you don’t need to interview for a job, just get on and do it.
Whatever you do, join Colony.
As they enter a 3 billion dollar industry, Colony looks to “the future of work”. In the past, the definition of work was different than it is today. Jobs that were sought after were usually full-time, secure, stable, and came with benefits. Today, the typical work model has transformed into a gig-to-gig and project-to-project ecosystem. This evolving market currently holds a $300 billion market for online sourcing, with $4.4 billion of that in freelance platforms. There’s currently 54 million registered freelancers out there with an estimated growing number of 20 million by 2020. Freelance gigs offer the opportunity of flexibility, creative freedom, and project choice.
The downside to freelancing is the absent guarantee of work, benefits, or ownership of projects. Colony aims to correct these problems by giving internet organizations and contributors the ability to hold stakes in the work and projects they complete.
Colonies are started similarly to how Facebook groups are created, and contributing is said to be “as easy as tweeting.” Each colony has its own token. The more tokens a user holds, the more of the colony they own. Tokens are given for work that’s completed. The tokens can then be traded on the open market for cash. This work model rewards the most hardworking individual in the company, rather than someone who sits back and watches others do the work.
Colony makes it easy for people all over the world to build companies together, online.
Colony, based on the Ethereum blockchain, is rumored to present at Demo Day during International Blockchain week. Check back for more updates on Colony.