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From Uber Eats to Era Swap: Decentralizing the Gig Economy

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The gig economy is a wide-ranging term which is synonymous with the exponential growth in temporary-contract individuals pervading almost all sectors of business. Whilst it most often refers to the practice of self-employment and freelancing, the remote-working methodology has spread to teams of full-time staff as well.

As a likely result, employment in the UK has seen an exponential growth over the past decade. Since October 2013, the national employment rate has grown” from 72% in October – December of 2013 to 75.5% in August of 1975.

High levels of employment can have positive implications on the economy due to increased productivity and spending power, however there are simultaneous adverse effects as well.

Rise of the Freelancer

The gig economy manifests itself in many different types of business and work discipline. Predating the term is the activities of executive level leadership, who are known to work remotely on a frequent basis to manage critical business activities. Similarly, freelance and agency-based work has existed for a long time, in fields such as care work; and doctors are regularly ‘on-call’.

What is different between these examples and those within the gig economy however is job stability, such as a regular and predictable periodical wage. Additional flaws include the lack of any benefits for employers (like private healthcare) – as well as a lack of consistency and accountability on behalf of the worker.

This approach to the purchase and selling of professional contracts serves to reduce overhead costs: resulting in the creation of a highly competitive product which can offer customers and partners (including employees) low prices and fees when compared to their traditional counterparts.

Popular examples of and pioneers within the gig economy at present include: Uber, Deliveroo, Upwork, PeoplePerHour, and many others. Adjacent to this is the sharing economy which encompasses services such as Airbnb.

Blockchains of Freedom

The lack of consistency offered by these services with regards to performance quality is equalled in their data security protocols and database storage mechanisms. Many who work in the gig economy rely on a multitude of websites and service providers in order to maximise their professional portfolio, exposure and most important of all: wages.

In order to do this however, one would have to install a cornucopia of software applications on their arsenal of communications devices like Windows, iOS, Android and computer web-browsers.

All of these applications require the user to sign-up using personal identification information as well as a secure password, and all of them store their data utilising their own respective protocols, server, and language standards. This prevents any form of user interoperability between sites.

This data is stored on each respective companies’ private storage systems according to each’s own set of rules. The problems with this are immediately evident: storing qualitative and quantitative data in a centralized location leaves it vulnerable to attack, corruption, and a host of other problems.

Decentralizing the Gig Economy

The inherent flaws that can be observed in existing gig-economy service solutions are enigmatic, but thanks to nascent technology such as blockchain and smart-contracts, they can be all-but-solved. Just as Bitcoin has revolutionised the finance and investment, helping to challenge many of their problems.

One example of such a project comes in the form of the Era Swap Ecosystem, which is a blockchain suite of tools aimed at what the team describes as a way for people to “tokenize time as a service”: peer-to-peer (P2P) without the requirement of conventional third parties or middle-men to manually facilitate payments or escrow.

Era Swap Ecosystem comes from the core team behind KMPARDS, and aims to supersede existing rivals by using blockchain to ensure absolute transparency, accountability, automated contractual enforcement, and a significant reduction in the fees charged to both service providers and customers.

Additional use cases include internet learning programs (courtesy of KMPARDS), and anything a developer can conceive of through use of a series of essential products. These include ‘Blockology’, and e-learning mobile application with bilingual capabilities; ‘Time Swappers’, a decentralized community-based marketplace’ and a high security wallet system (featuring multi-factor and biometric authentication) called ‘Era Swap Wallet’.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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Bitcoin

Minor Bounce Lifts Bitcoin Price Back Above $3,200; Waves Making Big Moves

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Cryptocurrencies levitated off yearly lows Sunday, with Litecoin and bitcoin SV emerging the biggest winners following an early weekend retreat. Another shake-up in the top-20 suggests 2019 will be a pivotal year for altcoins and tokens, which have struggled to remain relevant in the face of increasing bitcoin dominance and declining interest among retail investors.

Bitcoin Recovers

The leading digital currency experienced a modest relief rally on Sunday after setting a new yearly low the previous morning. BTC is currently valued at $3,266, having gained 2% on the day. The price peaked just above $3,305 earlier in the session.

Trading in BTC on virtual currency exchanges has declined sharply over the weekend; on Sunday, total daily turnover reached $3.8 billion, according to CoinMarketCap. Spot trading as a share of overall market activity rose to more than 80% with BTC/USDT, ETH/USD and BTC/KRW the most dominant pairs.

With a market cap of nearly $57 billion, bitcoin exerts a strong gravitational pull on altcoins and tokens. Bitcoin’s share of the overall market cap, now at 55%, has risen steadily during the latest leg of the bear market.

Bitcoin SV Leads Rally

In terms of best individual performers, bitcoin SV launched an 18% gain on Sunday as the protocol’s backers remained committed to achieving market dominance in the long term. Craig Steven Wright, one of SV’s most prominent backers, says he’s in it for the long haul in the wake of last month’s hard fork. This comes despite overwhelming support for bitcoin cash ABC, the primary implementation of the BCH hard fork.

Wright appears no longer keen on attacking the competing protocol but will instead focus on brand and business development to attract new users.

In its short history, SV has demonstrated an ability to move inversely with the broader market. This has allowed it to quickly scale the market cap rankings but also fall just as quickly. On Sunday, the coin was worth $77.50 for a total value of nearly $1.4 billion.

Waves Skyrockets

Waves coin briefly cracked the top-20, adding to a string of gains since the end of November that have set the digital currency apart from its peers. At the time of writing, Waves had slipped back to 22nd place with a value of $2.47 and a market cap of $247.4 million. Astonishingly, the cryptocurrency has gained nearly 160% since Nov. 25. Over the same stretch, the broader cryptocurrency market fell by 13%.

As a token customization platform, Waves operates its own decentralized exchange where new tokens can trade alongside major cryptocurrencies like bitcoin and Litecoin. At last check, the decentralized exchange had 69 crypto listings and over 20,000 custom tokens.

CCN reported a 50% surge in Waves coin last week following a mobile wallet upgrade that allows users to buy cryptocurrency with credit cards. This may have contributed to the rise of trading volume in Waves coin.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.6 stars on average, based on 701 rated postsSam Bourgi is Chief Editor to Hacked.com, where he leads content development for one of the world's foremost cryptocurrency resources. Over the past eight years Sam has authored more than 10,000 articles and over 40 whitepapers in the fields of labor market economics, emerging technologies, cryptocurrency and traditional finance. Sam's work has been featured in and cited by some of the world's leading newscasts, including Barron's, CBOE and Forbes. Contact: sam@hacked.com Twitter: @hsbourgi




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Altcoins

Tron Price Analysis: Fundamentals are Stronger than Ever; TRX Bulls Staging Comeback

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  • Tron network has breached over 100 million transactions, as reported by Justin Sun.
  • Zero transaction fees are anticipated on the Tron ecosystem, by Friday 21st

TRX/USD has remained generally soft since the 29th November. The price has been cooling and ranging since its spike higher at the back end of November. TRX is remaining well supported within a near-term acting demand zone. This has been in action since 20th November, providing necessary comfort, to prevent a free-fall below the 1 cent mark.

Despite this described technical behavior, the fundamentals surrounding the Tron foundation remain very strong indeed, as the founder Justin Sun likes to keep the community up to date with all the latest via his Twitter feed. There seemingly being much promise surrounding Tron’s daily activity and transactions.

Tron Hit 100 Million Transactions

Sun, took to his Twitter account today, to announce that it had recorded 100 million transactions. He said, “TRON has reached 100 million transactions today.” Sun provided a screenshot of the Tron platform, which showed the number of transactions had in fact breached the 100 million mark.

100 million transactions

Over 2 Million Daily Transactions

Previously, he had boasted how the Tron network continues to breach records with its daily transactions, tecently having well and truly smashed through the 2 million mark. One community member, which Justin Sun retweeted, provided a comparison of Tron’s daily transactions, versus its peers: “TRON’s new record of 2,64 million daily transactions in comparison w/ the Top 5; 9.6 times more than Bitcoin’s 275k, 4.6 x Ethereum’s 567k, 4.1 x Ripple’s 633k, 188 x Tether’s 14k, and 264 x Stellar’s 10k.”

Zero Transaction Fees Coming Soon

Elsewhere, Justin Sun had posted something via the Tron community on his Twitter. This detailed, “The transaction fee of TRXMarket has dropped to 0.1% at 07:00(UTC) on Dec 14th! And 0 transaction fee will be realized by next Friday.” Given this, the ecosystem may see zero transaction fees by Friday 21st December.

Technical Review – TRX/USD

TRX/USD daily chart

Looking to the upside, should the bulls maintain this current course of momentum, TRX/USD could be in for decent gain. Firstly, resistance in a prior acting demand zone must be broken down for greater moves north. This can be seen tracking from $0.01600 up to $0.01800. As mentioned, this area had previously been supporting TRX/USD from August right up until November. Given the length of acting demand, it may prove a challenge breaking down.

TRX/BTC daily chart

Lastly, TRX/BTC is heading towards an extremely critical and game-changing zone. An area where the price faltered in August and October. As can be observed via the daily chart view, there appears to be some chunky sellers camped here. As a result, on each occasion, this region sent the price free-falling back down to the south. A clearance above will see a large renewed wave of buying pressure come back into play.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 87 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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Altcoins

Litecoin Price Analysis: LTC/USD E­­­njoys Double-Digit Gains as Lightening Network Seen Imminent

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  • Litecoin has run higher by 20% over the past three sessions.
  • The community of Litecoin is very much excited about the upcoming activation of the Litecoin Lightening Network.

The Litecoin price is currently enjoying a bull run, running at its third consecutive session in the green. LTC/USD having gained a whopping 20% to the upside after producing another bottom area around the $22 territory.

Prior to this push higher being observed, LTC/USD had been moving within a tight range, after bottoming on 7th December. It initially appeared to be subject to another extended move to the downside, given the formed range-block.

Litecoin bulls still need to breakout from this mentioned formation. The low as detailed above is seen down at $22. The upper part of the range can be observed up within the $27 territory. To avoid another bear attack near-term, this must be breached.

Litecoin Lightning Network Imminent

Earlier this week, cryptocurrency exchange, CoinGate, did announce via witter that the Litecoin Lightning Network is now ready for its deployment. CoinGate also put itself up for hosting for the activation to take place on their platform. The exchange tweeted: “Litecoin community, we bear some exciting news! Our Litecoin LightningNetwork is ready to be deployed and will soon be live on CoinGate! Keep up with the news as we’re getting closer!”

The Litecoin founder, Charlie Lee, responded: “Even Litecoin will soon have more than 1000 merchants accepting LN payments! Thanks CoinGatecom!” Lee recently spoke about the Lightning Network, where he detailed how it is a second-layer solution for payments that go through Bitcoin and Litecoin.

Technical Review – LTC/USD

LTC/USD daily chart

As touched on earlier, the key for greater upside is to see a break out from the mentioned range-block. The bulls must storm through the $27 territory. However, not long after there is another barrier in the way. LTC/USD, between the 25th November and the 5th December, was in a prior range-block. The bottom for this was seen around $27 up to $29, which was a very short-term demand area. A push above this zone should pave way for a fast return back towards $50.

LTC/BTC Daily Chart Review

LTC/BTC daily chart

In the latest run to the upside for Litecoin, it has moved to its highest levels seen since 1st December. There is a key near-term barrier being eyed around current levels. A descending trend line running from the start of August is observed. The bulls must force a daily close above this resistance to see a further wave of buying pressure.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 87 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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