Bitwage, a bitcoin payments service, has announced the release of a payment-verified professional profile – ‘My Employment’ (M.E.) solution – a platform that enables workers to port reputation from freelance marketplaces and directly from their clients to build trust and acquire new international clients.
According to the company’s blog post, the payment-verified information can be verified on the blockchain that allows freelancers and contracting companies to prove that they have worked for the companies and show how much other clients have valued their work.
“Review-based reputation systems are a far less accurate reputation mechanism than payment-based reputation systems. While review-based systems are very subjective and easy to manipulate with fake accounts, payment-based reputation systems are based purely on the monetary value a worker has earned and are very hard to manipulate as money needs to be sent to earn reputation,” Jonathan Chester, founder and president, Bitwage stated in the post.
Users can leverage all of the payment reputation they have acquired over the course of receiving wages through Bitwage, after signing up. By building their profiles, users can show their employers, how long they were receiving payments as well as badges. The badges include Bitwage Verified badge that can be put on websites, resumes and other profiles to help workers build trust off of the M.E. platform.
“At Bitwage, we take privacy very seriously. All of our user’s data is kept private and only used as described in our cookies & privacy policy,” Chester added.
The company also announced the official launch of local currency payouts in the US, Eurozone, Argentina, Vietnam, and India apart from Brazil and Philippines that are currently active. With this launch, freelancers and contracting companies working with US or European companies can receive their wages in USD, Euro, BRL, PHP, ARP, VND, and INR without requiring their clients to sign up through Bitwage Invoicing solution.
Bitwage also plans to launch a new set of fees that will have a low, 1% fee. The My Employment platform will cost a low $9.99 and will waive the 1% local currency output fee at least for the first year.
