Bitcoin Payments Make Perfect Sense for Outsourcing Micro Jobs
Micro jobs are an important aspect of decentralizing the job market. In fact, one could go as far as saying that micro jobs are a cog in the machine that makes up the sharing economy since individuals and businesses can pay anyone in the world to complete a task. Pending regulation and taxation aside, for the time […]
Micro jobs are an important aspect of decentralizing the job market. In fact, one could go as far as saying that micro jobs are a cog in the machine that makes up the sharing economy since individuals and businesses can pay anyone in the world to complete a task. Pending regulation and taxation aside, for the time being, the question is whether or not Bitcoin lends itself to being a preferred form of payment for micro jobs.
Also read: SETL: The Private Network of Blockchains
Redefining the Job Market Through Micro Jobs
For most small and large companies, keeping overhead costs down is one of the most important aspects of business. However, most of the day-to-day operations require personnel, all of whom are quite costly due to taxation, social security, etc. Any opportunity to reduce these costs has to be grasped with both hands, yet that sounds much easier than it is.
Micro jobs are a new trend which seems to have originated in the United States. The ideology behind this principle is easy to explain: let other people, who are not contracted by the company, complete the job. This type of ideology is applicable to both small and large tasks, and allows companies to manage important tasks while reducing costs.
Some of these tasks can range from liking a page on Facebook or retweeting someone on Twitter, to coding an application, testing games, and so much more. One could argue the name “micro-jobs” is far from sufficient to label this new breed of job opportunities, but that’s the last thing someone should worry about.
Truth be told, it sounds great to have someone in The Netherlands contract a man or woman from Kenya to complete some task. In most cases, all of these tasks require an internet connection and some form of prior knowledge. There are quite a few people out there who have a particular set of skills that are not listed on their graduation papers or experience sheets.
But the idea of micro jobs faces a lot of scrutiny from government officials and taxation bureaus. At this time, it is unclear as to whether or not people completing a micro job should pay taxes on these earnings. Furthermore, there is no regulation in place that states which rights these micro-jobbers receive, as they usually operate in a foreign country.
This is one of the major hurdles to overcome for all aspects of the sharing economy. Guidelines and rules are needed sooner or later, and industry leaders will have to sit down with officials to come to agreeable terms. Until those regulations are put in place, micro jobs and the sharing economy will always be considered a “gray zone,” which is far from beneficial to participants.
Introducing Bitcoin Payments to Make Life Easier
Another thing to consider is how individuals and business can pay others to complete micro jobs for them. Traditional payment methods, such as bank transfers, credit cards, and even PayPal, are all subject to high fees. This is of particular worry where micro jobs are concerned, as the payouts are usually less than $1 USD per task.
On top of that, there is the currency conversion factor to consider. Whenever you send someone else in the world a payment, it will be converted to the fiat currency of that country. Within the EU, most of the countries deal in EUR, which causes less friction. But in the micro jobs world, anyone in the world can hire the skills of anyone else in the world.
Bitcoin payments would solve all of these issues, as this disruptive digital currency is borderless by nature. Any denomination of a Bitcoin in the US is the same in Europe, Asia, Africa and Oceania. Plus, users can convert Bitcoin to any major fiat currency in existence today. Although this conversion is subject to a small fee, the costs are the sole responsibility of the recipient, and not of the sender.
Small transactions should invoke as little fees as possible, which is possible with Bitcoin. Every transaction is subject to a minuscule transaction fee, but these numbers pale in comparison to fees associated with bank transfers or PayPal. Receiving Bitcoin is easy as well, as all the user needs is an internet-connected device.
What are your thoughts on the concept of micro jobs? Have you ever completed such a task for someone else, and if so, which payment method was used? Let us know in the comments below!
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