Blocklancer - ICO Review

The internet has certainly improved remote working in a lot of ways. In the US alone, freelancers make up about 30% of the entire workforce. And with the rise of remote workers, more freelance portals sprang up to link sellers and buyers together. However, most freelancers still experience difficulties interacting and receiving payments from clients.

This is where Blocklancer can come in to bridge the gap. The blockchain-backed company wants to take in their share of the market. It claims that if it could get only 0.01% of the freelancer market globally, that alone can result in about $3 million in annual revenue. And it hopes to share this revenue among its token holders.

Blocklancer intends to provide an escrow service for fixed-price contracts among buyers and sellers of products and services on its platform. It intends to make fees very low to make it easily accessible to clients and freelancers. The firm believes the low fees will attract more participants, which will help the portal grow immensely.

About Blocklancer

Blocklancer is an autonomous job marketplace powered by the Ethereum blockchain platform. It intends to establish a self-regulated platform where people can easily find freelance jobs and get paid. There will be a dispute resolution medium where clients can resolve issues about projects. The freelancer also has the same option if they feel they were not paid their due amounts or if the client leaves an unfair review.

The platform will use LNC, which is an Ethereum-based token. With the token, the token holder can handle any disputes resulting from the freelance project. According to Blocklancer, the portal is truly decentralized and uncensored. With the blockchain-based portal, people can engage in freelance jobs without necessarily having a bank account. Payments for the jobs through the portal are also guaranteed since Blocklancer uses a protected network.

According to the company, the fee for using the portal is also very small. While other types of freelancer portals charge up to 10% for their services, Blocklancer will only receive 3% from payments made for any completed project on the platform.

The firm wants to bring another dimension of the freelancer model into the freelancer community. With the support of blockchain technology, it intends to correct whatever deficiencies freelancers and clients have been facing via the conventional freelance platforms.

Blocklancer ICO Details

Blocklancer is registered in Austria and accepts ETH as its base currency. It offered a hard cap size of $10,000,000 (Fiat) and a soft cap of $1,000,000 (Fiat). It began the pre-sell of its token on September 1, 2017, and ended on September 21, 2017. The ICO started on January 16, 2018, and ended on February 16,  2018.

The firm intends to supply about 1 billion lancer tokens, and everyone would receive a share of the platform’s revenue. The entire fees earned from the platform will be shared with the token holders, which is like holding shares of a company.

At the pre-sell, it raised a total of 1,000 ETH. According to the token issuers, the LNC token would be available for sale and valued at 1 ETH per 12,000 LNC.

Author: Ali Raza for

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StartJanuary 16, 2018
EndFebruary 16, 2018

The project is a great concept as it tries to offer unique services to members of the freelancing community. It is not a project that will be particularly attractive to some industries. However, those looking to invest can benefit from the pool of percentage fees the firm would make from the portal. There is enough information about the project from the team members. With the transparency of team members, the project could be a successful one.

Ether Outlaw   January 14, 2020  

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