Problems & Solutions

Problems in Freelancing:

1. Lack of Trust: Freelancers often face uncertainty when working with new clients. Clients may fail to deliver payment after a project is completed, or freelancers may not meet the client's expectations, causing disputes and disagreements.

2. Payment Issues: Freelancers frequently experience delays in receiving payments, and in some cases, non-payment. Chasing clients for payment can be time-consuming and stressful, especially when working internationally.

3. High Platform Fees: Traditional freelancing platforms often charge high service fees, sometimes up to 20%, which reduces the freelancer's earnings and increases the client’s overall project cost.

4. Centralized Control: Most freelance platforms operate with centralized systems that control dispute resolution, payouts, and the reputation system. This central authority can lead to biased decisions, slow processes, or even platform bans without proper recourse.

5. Unreliable Dispute Resolution: Disputes between clients and freelancers are usually resolved by platform administrators, who may not always be impartial. The process can be lengthy and lack transparency.

6. Reputation Issues: Freelancers often struggle to build a trusted reputation because reviews can be manipulated, and there’s little transparency on how reputation scores are calculated.

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Solutions that Trust Ledger Brings:

1. Smart Contracts for Trust: Trust Ledger uses smart contracts to automatically enforce agreements between freelancers and clients. This means that funds are held in escrow and only released when both parties are satisfied with the outcome, eliminating the need for blind trust.

2. Instant, Guaranteed Payments: Payments on Trust Ledger are executed automatically once the job is completed and approved. This guarantees freelancers will receive their money without delays or disputes about payment.

3. Lower Fees: Trust Ledger operates with lower fees compared to traditional platforms, especially when using the native Trust Ledger (TL) token. This ensures that freelancers keep more of their earnings and clients pay less for services.

4. Decentralized Control: By removing centralized control, Trust Ledger allows freelancers and clients to interact directly without interference. Disputes are settled by the community through decentralized governance, ensuring fair and transparent outcomes.

5. Community-Based Dispute Resolution: Instead of relying on a central authority, Trust Ledger uses a decentralized dispute resolution system where the community votes on outcomes. This method ensures fairness and transparency, as users stake tokens to participate in resolving disputes.

6. Transparent Reputation System: Trust Ledger’s reputation system is fully on-chain, meaning that a freelancer’s reputation is built from verifiable, immutable data. Clients can see transparent, unbiased records of a freelancer’s previous work and performance, ensuring trustworthiness.