Workcoin (WRK) will need a huge capitalization because Needly is trying to build a blockchain marketplace for freelances. The plan at Workcoin is to create a cryptocurrency-powered alternative to Upwork.
Needly is trying to attract freelancers and employers to Workcoin with Zero Fees, Real Identity and Escrow. Unlike Upwork, Workcoin will pay freelancers in cryptocurrency and require users to have an authenticated GitHub or LinkedIn profile and credentials.
Needly is planning to make money by offering flat rate services. The hope is that flat rate services will attract more users and create a larger market volume.
On the positive side, iPhone & Android apps for Workcoin are in existence. On the negative side, it is not clear if anybody can find work through them. I have attracted no responses from my Workcoin profile.
The potential market for Workcoin is vast because many freelancers dislike Upwork and its competitors. Upwork is unpopular because it charges up to 20% for most transactions.Read More