Wednesday, September 29, 2021
Home Latest News Blockchain Telos launches new gig economy platform on the blockchain.

Telos launches new gig economy platform on the blockchain.

Telos is launching a new gig economy platform called TelosTask, applying blockchain technology to familiar models such as PeoplePerHour and Upwork. Created by the MydAppr team, the new peer-to-peer platform will directly connect “task givers” to “task takers,” or gig workers from anywhere in the world. The Telos Task platform allows for the completion of big and small tasks (micro-gigs and macro-gigs), ranging from social media engagements and writing assignments to graphic design, video production, and more. The platform also uses an escrow system to automate secure payments.

Telos Task includes technology to ensure that tasks are successfully completed before payment is rendered from funds escrowed into the system. Therefore, both Task Givers and Task Takers are protected. Task Takers will be automatically compensated within seven days of completing a task, with chargeback protection for both Givers and Takers.

The Telos Task economy runs on the TASK token, which will be used as payment between Task Givers and Task Takers. The platform provides smart contract-based protections to both Givers and Takers that work performed will be paid without the ability for bad actors to game the system with fake quality work. 

The chief architect of the Telos blockchain, Douglas Horn, explained the impetus for the platform’s creation:

“This is the real power of high-capacity blockchain. Now anyone can instantly create a free Telos account with an easy to remember name and log into it with no more hassle than logging into Twitter. It’s a mass adoption-ready platform that’s desperately needed right now as people try to figure out reliable new ways to earn income and perform business tasks in the post-COVID world.”

TelosTask team lead Destiny Marshall has said, with a back-end like Telos, there is a built-in system of trust both that these tasks are completed and labor is fairly compensated.

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