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Ratings LaborCrypto

Global Freelance Peer to Peer Ecosystem

LaborCryptoTM is a light touch administrator in a people-powered freelance work ecosystem. Our algorithms match users with other users to hire and promote freelance work. LaborCrypto is the next iteration of ChoreReliefTM, a platform that streamlined gig economy match-making. LaborCrypto is using that experience and applying the power of blockchain smart contracts to decentralize corporate power structures and give more economic power to the freelance workers and those who hire them. We, at LaborCrypto, think differently and believe in challenging the status quo and giving power to freelance workers. And the way we do that, by connecting people from all over the world regardless of having a banking system or not, and allowing the freelancers to keep all of their earning and getting it immediately. We believe in sacrificing the numbers to save the people, and the way we are doing that, by sharing half of our ads and fee collected revenue with our users.

5 4 expert ratings
Benchy 3.7
Review: coming soon PRO
Price in ICO
0.0005 USD
KYC & Whitelist
Restricted areas
The United States of America, People's Republic of China (except for Hong Kong, Macau, Taiwan), North Korea, Cuba, Iran, Syria & Crimea Region.
ICO start
1st Nov 2018
ICO end
30th Mar 2019
Visit ICO website


All ratings published on ICObench serve informational purposes only. ICObench does not provide investment forecast, recommendations or any consulting for that matter. Thus, neither ICObench, nor the experts can be hold responsible for the visitors’ investment decisions. Read more
Mofassair Hossain
CEO and Founder Perhalic, ICO and IEO Advisor, Investor, PR and Marketing Expert
Rated on Jun 13, 2018

About team department:
I don't find any advisors ... team is good and passed kyc but don't find Blockchain developers in the team.
About vision:
This idea is not new there are some good competitors in the market right now. So looking forward to see how team execution their planning.
About product:
Don't have any MVP yet.

tarik KhribechICO team member replied on 19 Jun 2018
Thank you for taking the time to review our project -- we appreciate the feedback. A few points, though:

With regard to an advisor, we have one who's helping us with the project. Also, we've been in this space for over two years, and we fully understand the industry issues. (You can read more about that in the About Us section.)

Most of the other projects are focused on how to deposit funds into freelancers' accounts more quickly, and how to lower fees. That's great, but it's not the only issue the industry suffers from -- these are specific aspects that contribute to the larger problem, user loyalty and repeat transactions within the platform, rather than using the platform for customer acquisition. This is a problem that no one else is addressing.

We are solving the user loyalty issue by granting revenue sharing rights. We believe users deserve to be rewarded for their time and attention. By sharing the revenue, which is a combination of multiple streams (i.e., 3% service fees, ad revenue, etc.), we can incentivize them to continue to use the platform to make transactions and get the network effect, lowering user acquisition for us as we expand.

As for MVP we already started the work and should have something released soon.
Richard Kastelein
Publisher of Blockchain News (EST 2015), Director of Blockchain Partners, Director of Token.Agency
Rated on Jun 17, 2018

The idea has been done many times. It's not really unique as there's lots of competition dating back to the beginning of 2017. Team looks good. No advisors is not a problem for me. I don't agree with other ICO advisors who downgrade projects for not having advisors - it feels like a cartel when they do that.


Good luck guys.

tarik KhribechICO team member replied on 19 Jun 2018
Thank you for taking the time to review our product -- it's greatly appreciated.

Our goal was to attract people who share our desire to build a better world. Bringing in advisors who are simply looking for a payday wouldn't necessarily fit into our culture. Before we began working on this project, we had thousands of encounters with freelancers and gig workers from our previous business, ChoreRelief -- a marketplace for customers to outsource household services. Our focus was never about creating cheap labor. Rather, we preferred to concentrate on how we could make this space better for them.

With this in mind, we built a dashboard for the workers, allowing them to scale as they get more business and connect with additional customers. We felt that this should be made available to thriving entrepreneurs who want to get into this space, and we've succeeded in that. However, some of the remaining issues couldn't be solved with existing technology unless we used blockchain and cryptocurrency.

We see this as more than just a way for freelancers to earn a living -- to us, it's a digital incubator that will provide them with tools like education and certificates, allowing them to hone their skills and accept higher-paying jobs.
Michele Zilocchi
Crypto Expert, Advisor, Business Developer @ Amicaborsa
Rated on Jun 14, 2018

I am a great fan of decentralized platforms based on sharing economic's principles and I think that a freelance platform based on Blockchain is a good idea.
The team show good skills, and seems to have the potential to succeed.
Vision is fine, but I think that Blockchain may be also applied in the verification of skills ithin the platform

tarik KhribechICO team member replied on 19 Jun 2018
Agreed -- and also, we want to provide other resources for freelancers to further hone their skills. Technology is constantly evolving, and we always want to ensure that they thrive. We can achieve this by partnering with educational resources, so freelancers can apply for certifications which will open up more opportunities for them.

And those certifications could certainly be on a blockchain as technology evolves.
Mohit Tater
Blockchain & ICO Advisor, Investor, Serial Entrepreneur
Rated on Jun 28, 2018

Team is good but I don't know if they have blockchain experience or not. Plus they have only 1 advisor which is concerning.

The idea is not new, there are already competitors out there. And they don't have an MVP too. I wish them All the best!

tarik KhribechICO team member replied on 2 Jul 2018
Thank you for taking the time to review our project. The biggest impact on our rating is that we don't have one of the top ICObench-listed experts on our team. Richard Kastelein who rated us also left this comment: "I don't agree with other ICO advisors who downgrade projects for not having advisors - it feels like a cartel when they do that. HIRE US OR YOU WILL SUFFER." However, we have added Graham Doggart to the Advisory team, and he's involved in several projects.

There are so many projects in the same industry, but all they concern themselves with getting the workers paid faster and building a trusted review system. We're fixing those problems as well, but there are plenty of other issues to address. We know firsthand since we've been operating a business in the gig economy for the last two years.

The Problem(s) with Freelance Websites

If you ask the average freelancer what they perceive as the biggest flaws of the various freelance platforms, they will usually refer to one of five major problem areas that cause them to suffer financially. These also result in negative consumer responses.

Problem #1: High Service Costs and Fees

On average, freelance platforms take 22% of the selling price of every gig sold. On Fiverr, for example, they take 20%, or one out of every five dollars the freelancer (the "seller") earns. Many of these platforms also charge the customer (the "buyer") a fee to use the platform (or "ecosystem.") Some ecosystems even charge a fee when a seller is "tipped," a practice that is illegal in the United States and other countries.

Problem #2: Delays Getting Paid

If high fees weren't bad enough, freelancers also force sellers to wait for their earnings—sometimes up to two weeks! These delays are mainly caused by the traditional financial system, although some platforms also tack on additional wait times, creating financial stress for millions of freelancers.

Problem #3: Inflexible User Experience and Processes

This problem area affects both buyers and sellers. For sellers, the inflexible sales processes used by virtually every freelance economy forces them to waste hours of valuable time each day. These same processes also waste the energy of buyers, who must rely on outdated review systems to evaluate sellers and their respective offers.

Problem #4: Lack of Banking Access

Although not a universal problem suffered by sellers, roughly 40% of the freelance community has little to no banking access. This makes it much more difficult and costly for them to receive their hard-earned income.

Problem #5: Loyalty Issues

Perhaps the largest problem freelancers face with all ecosystems is the inequity between the platform and its creators. The only reason freelance platforms exist is due to the buyers and sellers, but neither is given financial thanks for this fact, causing many to come and go far too frequently.

We're actually ahead of schedule, so please feel free to look at the prototype:

Freelancer view:
Client view:

Warm Regards,
Tarik khribech
ICO analyzer bot

Experts are independently and voluntarily contributing to the community. If no expert has rated the ICO, only ICO analyzer's results are used. Always research before investing as these ratings should not be taken as an investing guide of any kind.

Ratings and ICO analyzer results are being updated (re-calculated) every few hours.

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