Coinlancer, a cryptocurrency expected to benefit freelancers, has launched its 300-million initial coin offering. The ICO, which costs $0.25 per token and aims to raise a total of $50-million, will end on November 14, 2017.
According to Coinlancer advisor Sai Teja, freelancers will largely benefit from the new cryptocurrency given its low transaction rate only at 3 percent compared with the usual 10 to 20 percent service fee paid by freelancers to centralized hubs such as Upwork. The service fee is the fee deducted from the pay earned by the freelancer from the client once a project is completed. Coinlancer will operate on a blockchain technology which will allow direct transaction between the freelancer and the client, eliminating the need for a third party. It also means a secure and fast way of transacting.
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