LaborCrypto further disrupts the freelance economy using emerging technology to solve all 5 of the problems. Using Blockchain and Cryptocurrency in a peer to peer model eliminates the middleman fees, makes payments immediate, provides inclusion for unbanked people and shares revenue with all active consumers and freelancers.
Here’s what Tarik khribech said about his ICO and the latest news in the industry,
First of all, tell us something about yourself.
Serial Entrepreneur and Tech Startup Founder with expertise and passion that sits at the nexus of technology innovation, lifestyle improvement, and social good. Built l’Or d’Afrique, a line of top beauty products currently carried in 400 salons across the country and sold via eCommerce. Designed and built ChoreRelief, a market disruptive connectivity technology solution providing on-demand home and business repair and improvement currently serving Chicagoland and New York
When was the company launched and how many members were there initially? How strong is the team now?
We launched the presale couple weeks ago and currently have over 130K member across our social media and telegram channel.
If you don’t mind, tell us more about the strengths of your team. What is their average background and experience?
our team are top executive from wallmart, citi group to investment banks
What was the motivation behind starting this project?
We want to see a better working environment for people and hope someday we can reduce the poverty level in global scale
What is your ICO about?
Laborcrypto is an Ethereum based peer to peer freelance platform that connects freelancers with consumers for a very low financial burden while being focused on : building loyalty, creating opportunities and empowering active users by sharing revenue.
How did you decide to use the blockchain technology for this particular project?
Blockchain and cryptocurrency as well as smart contract allows us to solve the problem with freelance economy, they are 5 major issues:
1. High Service Costs and Fees, which can cost the average freelancer 25% of their potential earnings.
2. Delays with Getting Paid, which can sometimes take up to 2 weeks to settle.
3. Lack of Banking Access, making it difficult for approximately 35% of potential freelancers over (1 billion people) to access their income.
4. Inflexible User Experiences, which wastes time and effort for both freelancers and consumers.
5. Lack of Loyalty Incentives, which have led to both consumers and freelancers jumping from one platform to another.
Is it your first blockchain-technology-based ICO or have you previously worked with another blockchain project?
Yes its my first but i have been involved in crypto since 2014
Why not simply use fiat?
Fiat will not allow us to pay freelancers on time, and yet we have to pay 3% just to the payment processors, plus milions of people dont have bank account, so they cant even offer their services as freelancers.
What gave you an idea that going the ICO way would be better for your start-up rather than seeking venture capital in the conventional way?
we want to share the value of the business with the users, we are doing 50% revenue share with active users, this way we are giving them back shares of the value they created, if we take money from VC we wont be able to do so, and which will lead to loyalty issue and now users will use the platform as customer acquisition tool and conduct business directly with client of platform.
Why do you think participants would like to invest in your ICO? What will they get in return?
our token is affordable to everyone, and by bringing the value and demand to the token investors can easly make 10-100x withing 12 month from end of the IOC and we believe that number could be even higher
In which geographic regions are you focusing? Or is it an internationally available ICO?
Will there be a fee needed to use your platform or digital product? If yes, how much?
so one platform is completed, we take 3% transaction fee paid in our token, and thats part of the revenue share we give back to active users including all the revenue we get from advertising as well. this way we make any active uses almost a share holder
Will the user need a specific wallet to use your currency or your service?
any ERC20 compatible wallet
Who basically is your target audience?
people that uses Upwork, freelance.com fiverr ect
How has been the pre-ICO response so far? Are you satisfied with the way things are progressing?
Great we couldnt be more happier
How do you think the blockchain technology has improved since last year and how is it going to impact your own business?
People are getting into the space more now
Where do you think the blockchain technology is heading and what effect is it going to have on your project in the coming years?
blockchain is here to stay, and we are building the noah arch so when people start realizing their jobs are been replaced by AI and robot we here to be the alternative and solution
Other than your own project, do you have any favourite blockchain projects you closely follow?
until i see some of them building something i dont have a favorite one yet
Which technology areas do you think are going to be dominated by blocking technology in general and cryptocurrency in particular?
What are your future growth plans?
to get 5-10% market share of the 2 trillion $ industry