WhenHub ICO [Review]
The most valuable asset is time. For freelancers, it’s also the hardest thing to monetize.
In 2010, Intuit ran a study which showed that over 40% of the U.S. workforce would be independently employed by 2020. This is proving to be an accurate prediction – the Freelancers Union found in 2014 that over 34% of the U.S. workforce operated as freelancers.
Globally, the numbers say much the same – the UK is expected to reach 50% self-employment by 2020. According to Spera’s 2016 Freedom Economy Report, independent workers are the fastest-growing group in the EU labor market, and India’s 15 million-strong independent workforce fills about 40% of the world’s freelance jobs.
Most of those freelancers face the same set of problems – finding good customers, receiving fair compensation, being able to control schedules, setting market-appropriate rates without undercutting themselves, and being able to bill a sufficient amount of their time.
The problem is one of networking, scheduling, a free market to determine pricing, trustworthy participants and a secure system that guarantees transactional integrity.
Or rather, that was the problem.
The WhenHub Interface Network (WIN)
Over time, every independent contractor accumulates a valuable, if intangible asset – experience in a specific subject area. To customers, that experience is often the difference between a disappointing engagement, and a rewarding one.
Today’s mechanisms for discovering, sharing and marketing that experience are limited. Contractors have to invest non-billable time in networking activities, in the hope of landing a big client. That, or they have to relentlessly market and promote themselves online, in crowded marketplaces often driven by a price-race to the bottom.
The WhenHub Interface Network sets out to provide a rewarding alternative. Based on a combination of existing WhenHub services, and a token system based on Ethereum Smart Contracts, WIN aims to deliver frictionless networking, opportunities, knowledge transfer and payment services to contractors and customers.
Experts will be able to post their available, unbillable time slots to the network. Customers will be able to place bids (denominated in WHEN Tokens), and once a slot is won through an open auction, the Interface App will connect the winning customer and expert directly – right when the expert’s help is needed most.
During that time, experts can provide advice in their area of expertise to a paying customer, with compensation verified and handled automatically through the WIN ecosystem. Customers get the support they need, and contractors benefit from low-friction, high-quality networking – in a mutually beneficial situation.
CSO Scott Adams mentioned in his blog that, “In the gig economy, think of this product as a “long tail” market for expert advice. Experts of all kinds can display their availability whenever they like, for as short a window as 15 minutes.”
Ultimately, WIN has the potential to be a major disruptor in both the independent contracting and professional networking spaces.
Who is behind this ICO?
The team behind WhenHub:
- Quin Harker, CEO, with over 20 years experience in the global mobility and transportation industry.
- Scott Adams, CSO, the primary investor in WhenHub. Famous as the creator of the Dilbert cartoon strip, syndicated in 25 countries.
- Nik Kalyani, CTO, a veteran technology entrepreneur and founder of the open-source company DNN Software.
What does the ICO offer?
As of 10 November 2017, the WhenHub ICO is open to the public. 350 million WHEN tokens have been allocated for purchase, at the price of $0.10/token. WhenHub will issue SAFTs (Simple Agreement for Future Tokens) which convert to tokens once the network has been developed. The minimum investment is $250.
Tokens can be purchased directly from the Investor Hub at investor.whenhub.com, where early movers can earn up to 20% in bonus WHEN tokens during the first 3 days of the Public Sale. Further details are available on the Token Sale website, at tokensale.whenhub.com