A Gig Economy, Part 1 of 3; The Rise of User Generated Content.

  • In recent years, global adoption of the internet and mobile technologies has brought about increasing independent employment opportunities.

    No employment sector is likely to have seen more rapid growth from our developing technological society than the freelance workforce. It is virtually impossible to pinpoint exactly how many people are globally engaged in independent work, due to varying opinions on what constitutes this type of work. But it is widely assumed that anywhere from 25–35% of the working world could currently be engaged in some form of independent work. And many people believe that up to 50% of workers could be actively employed in what is commonly known as The Gig Economy, by 2020.

    A gig economy comes about when any workforce comprising of independent contractors or freelancers produces work, on-demand, for an entity or individual in accordance with a temporary contract or agreement. This work is typically facilitated online. The Gig Economy refers to the culmination of all entities and individuals conducting work in this manner, globally.

    Companies such as eBay, Airbnb and Uber are often considered to be some of the first capital platforms to have drastically accelerated independent workforce opportunities, but content creators such as Podcasters, Bloggers, YouTubers, Web Journalists, Artists, Developers and Independent Entrepreneurs are some of the more common constituents of The Gig Economy.

    Founded in 2015, Red Pulse is a company focused on developing PHOENIX, a Knowledge Sharing Ecosystems where Contributors can share their expert insight on China and its markets with Red Pulse’s clients.

    China Research | Finance, Technology, Healthcare | Red Pulse

    While companies such as Red Pulse are providing some awesome opportunities for individuals to generate content suitable for a global audience and make money in ways not previously possible, there are a number of challenges faced and questions raised by content creators and clients in The Gig Economy space:

    • A significant amount of money is currently consumed by banking fees, international transaction fees and host service fees. How can global monetization take place where these fees are reduced or removed entirely?* Secure and trustworthy information can be hard to come by. How can an entity or individual trust that any information received is secure, accurate and is the intellectual property of the content creator they’ve engaged?* Content creators with significant experience can encounter difficulty when trying to find the right online outlet and exposure for their expert services. What steps can be taken to ensure that all parties receive optimal exposure and have the best chance of being paired with the right people?

    The implementation of blockchain technology and the use of associated cryptocurrencies has begun to play a part in solving these problems.

    Stay tuned for part 2 of 3 in this series, where we will introduce a number of blockchain projects alongside Red Pulse, and consider each project’s approach to addressing the issues currently faced by content creators and clients in The Gig Economy.

    A Gig Economy, Part 1 of 3; The Rise of User Generated Content. was originally published in Red Pulse on Medium, where people are continuing the conversation by highlighting and responding to this story.