"Coinlancer is a decentralised job market built on Ethereum platform, which empowers burgeoning freelancers and clients from across the globe. The traditional ways of freelancing don’t seem to work anymore. Same principles, unexplained account suspensions, unaddressed or prolonged disputes often leave you exhausted."
Website: www.coinlancer.io
Whitepaper here.
Youtube presentation here.
So, being a freelancer and having made 100% of my income through freelancing for the past three years, this ICO naturally intrigued. The problems they are trying to solve are real, and I can attest to that from first-hand experience. Some of these problems include:
- High platform fees - Market leaders takes 20%, Coinlancer will charge 3%.
- Identity theft - Currently, the top 3 platforms are a candy store for scammers.
- Fake reviews - Every experienced freelancer has had that one client... Arrghgh!
- Contract disputes - Unbiased dispute resolution through the Freelancer Tribunal.
- Suspension - I've personally been temporarily banned twice on Upwork for exchanging emails with clients. Making this process/decision makng more transparent would be a huuuge step up.
I really admire what Coinlancer is trying to do here and I fully agree that it's about time we give the power to the hard working freelancers, and not the job platforms or the enterprise clients who FOR SOME REASON only can afford to pay you $5/hour.
So, the vision is solid and well reasoned for. What about the team?
At first glance, Coinlancer's team doesn't strike me as being 100% capable of executing all this with its current setup. The team consists of just 4 guys and 4 marketing executives, accompanied by 3 advisors. But then again, Chainlink consists of only 2 guys and they are doing great so far.
CEO Ian Vineer.
To be honest, I couldn't find anything on this guy. The link to his LinkedIn doesn't work and Google didn't yield any results for me. Suspicous? A bit. Fraud? Don't think so. The inventor of Bitcoin is anonymous but the system itself is working just fine, wouldn't you say? Anyway, I think this flaw can most likely be attributed to Ian having his focus elsewhere - he is busy revolutionizing the freelance market after all.
CTO Charles Voltron.
Self taught Full Stack & Blockchain/DLT Developer (Ethereum solidity/smart contracts/Dapps) - ICO consulting.
Quote: I've been a coder/hacker/maker for over 16 years. I'm zealous about technology and business. I've launched 3 ventures with successful exits over the past decade.
CFO Rushabh Shah
13 years of professional financial experience. London School of Business and Finance LSBF.
CFA Institue. Finance Director at Plus Group.
Technical Executor, Atticlab
Quote: We are quite young, but already cooperating with banks and business from Africa to Asia. Our knowledges and practice allow us to feel confident at classical finances as well as dynamic crypto-market. Our software is certified by the Central Banks, and many financial institutions use it. We have limited time, that’s why we are participating only in disruptive projects.
Read more about Atticlab here.
The Coinlancer Token (CL) and Token Distribution.
CL will be used to pay for the service fee on the Coinlancer Platform which launces on November 15, according to their roadmap. From my understanding this fee is paid by the client and not the freelancer. They will be offering 20+ different cryptocurrencies as a means of purchasing their CL token, and CL will (likely) be listed on major exchanges to trade with as well.
There will be a total of 300 million pre-mined CL tokens, and from what I can see this will be the maximum.
93% go to the users, 5% are reserved for the team, and 2% are distributed in their bounties as seen below.
I have a lot of respect for their decision to only reserve 5%. Many ICOs reserve upwards of 20% and I've even seen some with 50% of the total token supply being reserved for the team.
Bonus structure
If you act today you will get a 25% discount on LC tokens, then 20% and declining by 1% for each day until the end of the ICO.
This marks the end of my review. This is my first semi-thorough public review of an ICO and I plan to do a couple each week. Let me know if you want more of this and less of that, if I've left something out, and share your honest opinions about the project in the comments below. Follow me if you want to be the first to know about new and exciting ICOs!
Now the question is, should you invest?
Here's a tip for you: don't ever make financial decisions based on some weirdo's review on the Internet. DYOR!
That being said, I'm not shy of admitting that I've already backed this Coinlancer yesterday with a humble $22. It's not a lot, but I invest in numerous ICOs and I only invest what I can afford to lose, hence the small numbers.
They have a practical calculator so you can get an estimate of how many CL tokens you can get per coin. They accept a wide variety of coins, including Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Dash.
Make sure you have the right coin selected before clicking on Generate Address. I almost accidentally sent BTC to their ETH address because I had it open in two tabs.
You can send coins from exchanges since they store your CL in their own wallet on the website until their desktop version is released, or until CL becomes available on exchanges.
Thanks for reading!
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