LaborX, a crypto jobs online platform by Chrono.tech, now has a full-time listings module, a major evolution for the online portal that offers freelance gigs in global crypto economy.
An on-demand blockchain-powered jobs marketplace, LaborX connects freelancers and customers through smart contracts, offering international settlements in crypto on top of job listings. LaborX has been developed by Chrono.tech, a blockchain technology company that has built LaborX as part of its suite of tools and services to facilitate recruitment, invoicing and payments.
At the moment of this full-time jobs module launch, LaborX is experiencing tremendous growth. During Q1 2022, the number of freelancers registered on the platform grew by 20%, and the number of customers transacting with freelancers went up by 30%. LaborX attributes this trend to continuing office exodus that started during the pandemic, when office workers have switched to the working from home mode, and did not go back to the office. Many employers and freelances have switched over to crypto to avoid dealing with national currencies and settlements, the trend that is expected to continue.
This same trend continues to evolve with the emergence of full-time jobs module on LaborX, a psychological inflection point for the $347 billion global gig economy.
“We saw that many job listings are now offering full time work, and many freelancers are looking for full time work, but neither group is looking to shift out of telecommuting or crypto transactions, so we accommodated this market evolution,” said Sergei Sergienko, Chrono.tech and LaborX founder. “This doesn’t cancel the gig economy, but rather shows that our industry is becoming more mature, and this way of life and this career path have become mainstream.”
Job seekers and employers looking for full-time connection at the moment can enjoy the following services on LaborX:
• Recruiters can publish job vacancies, receive applications, and contact suitable candidates.
• Job seekers can fill in a profile, upload their CV, browse opportunities, and contact recruiters with their information.
Payments are currently not supported, but will be, once the module launches commercially.
Payments on LaborX are done via a variety of cryptocurrencies, with major additional benefits reserved transactions using TIME tokens, created and traded by Chrono.tech. Owners of TIME tokens get perks on the platform: premium accounts on LaborX with 0% fees, and outstanding financial benefits, such as ongoing weekly rewards for staking. Over $80 million worth of TIME is staked at the moment.
