As of 2014, 53 million Americans, or 34% of the US workforce, made a living as independent contractors, according to data from the Freelancers Union. Moreover, a study carried out in 2010 by Intuit projected that more than 40% of the US workforce would be contractors and freelancers by 2020. Most of these professionals are involved in consulting work represented by almost 70 categories and implying some “knowledge transfer.”
Unfortunately, the nature of such professional activities often leaves some blocks of work time unbilled. Consultants have no efficient way of finding customers that fit those unbilled time slots. This results in loss of income, which is especially painful for freelancers since they have no fixed salaries and always seek to maximize the monetization potential of their time.
On the other hand, it is a very time-consuming and challenging process for customers to find a trustworthy, knowledgeable consultant who can provide guidance on a specific topic and do it in the time of greatest need. Finally, there are serious problems arising from payment friction, especially when dealing with cross-border transactions, international billing, and currency issues.
WhenHub offers a solution
In order to address these problems, WhenHub has developed an innovative Ethereum blockchain-based solution that aims to connect customers with the Subject Matter Experts (SMEs) for transactional business interactions via video calls, text messages, audio calls, or in person, facilitating smooth and easy consulting with no tiresome paperwork or billing involved.
This will be possible due to the WhenHub Interface Network (WIN) — a new patent-pending platform that uses smart contracts technology and aims to solve freelancers’ under-utilization problem as well as issues of search, availability, trust, interaction, and payment.
WIN will enable independent workers to self-rate their level of expertise and display their availability whenever they wish. It could be as short a timeslot as 15 minutes, and freelancers can advertise to customers across time zones, thus monetizing every precious block of their time.
In their turn, customers will be able to quickly find the experts they need, verify their reputation, identify their availability for interaction, get a consultation, and finally pay via a mobile application. The payment will be in the form of ERC20-compliant WHEN Tokens, which will get automatically transferred to the expert via a smart contract.
The WIN is not a single application but an ecosystem comprising:
- the Interface mobile app, the primary means for users to add availability time slots;
- the InterfaceHub web directory, where users can interface with one another;
- WhenSense websites, WhenHub’s proprietary technology allowing third-party sites to host ads about the availability of participating SMEs simply by adding an embed code and share in the income;
- Partner companies providing verification services to participating experts to support customers’ confidence.
WhenHub ICO details
The ICO started on March 19 and is scheduled to close on September 19, 2018, although it may end earlier if the company reaches its $35 million funding target ahead of the closing date. The total supply of WHEN tokens is limited to 875 million, with 350 million (40%) of them available for sale and 227 million (26%) currently being distributed as incentives for first-time users for making calls to Experts using the Interface mobile app. The ICO exchange rate of 1 WHEN is set at $0.25.