The Freelancing Market

Globalization has changed the traditional system where you have to work with a company and stay there for a very long time. The present workforce is becoming very flexible and the remote working system is becoming a normal trend with people that are self-employed especially on a freelance basis.

Market Figures

Although our token may not be open to people living in certain regions or residents, the US market can be very important in our analysis. The USA market trend is usually similar to what is practiced in Europe and other parts of the world. The trends in the USA have been very impressive. The US freelance workforce has grown very fast as compared to the general US workforce. It has outpaced the entire US workforce growth in a multiple of three folds by the end of 2014. From a whopping figure of 53 million in 2014, it has grown to 57.3 million in this present year thereby recording a growth of 8.1 percent after the end of 2014. The workforce in the US has only grown from 156 million to 160 million in the same timeframe leading to only a 2.6 % increase. At the end of 2021, 3.3% of the entire US workforce could be freelancers. In the European Union, freelancers make up 16.1% of the entire workforce while freelancers make up 35% of the entire workforce in the US. Freelancers make up 57% of the active workers in the US when considering the young and active generation. In addition, over 50% of millennials have joined the gig economy. In Europe, over 9 million professionals were working as freelancers at the end of 2017. This shows an increase of 126% percent of this corking category over the last decade. In the European labor market, independent workers enjoy the fastest growth rate. In Europe, the amount of independent workers as a percentage of the entire working sector is expressed. The number of independent workers is continuously increasing as compared to the number of employed workers. Over 30% of the working population in the US and Europe, which accounts for over 160 million people, are engaging in independent work. A report from McKinsey in 2017 shows that over 540 million people benefit from online talent platforms by the end of 2025 and over a 230million people could quickly find jobs. This will reduce the unemployment span. 200 million people that are inactive or unemployed can also enjoy additional hours of freelance work through these platforms.

Up to 540 million, people could benefit from online talent platforms by 2025

"Freelancers can be divided into various segments and blockchain technology can be used to solve some of the problems they experience"

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