Imbue Litepaper

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Project Details

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Imbue Network represents a cutting-edge decentralized talent vesting platform DAO, designed on top of the Polkadot blockchain platform. With a distinct focus on web3 application development, Imbue is globally accessible, catering to diverse industries and individuals from all walks of life. As a platform that enables brief owners to submit ideas and tasks for the communities to support and contribute to, Imbue empowers project initiators and freelancers to engage in meaningful collaborations, fostering real-world impact that dispels the common perception of web 3.0 as lacking in utility. Leveraging the unparalleled potential of the Polkadot ecosystem and Substrate Framework, Imbue facilitates the initiation of proposals while enabling project initiators to define and distribute payments among milestones, guaranteeing the successful completion of deliverables. Imbue Network is committed to delivering a transformative and groundbreaking platform that democratizes talent vesting and harnesses the power of decentralized collaboration to create value and build a better world.

Rationale

Imbue Enterprise Freelance Marketplace is a groundbreaking platform based on blockchain technology, providing a secure, reliable, and safe freelance marketplace. It empowers users to manage their projects, build businesses, and trade shares in a secure environment. Imbue offers a variety of tools to ensure data security and minimize the risk of fraud, making the marketplace more accessible to businesses, freelancers, and investors.
 
The trend towards remote work and freelance platforms has transformed the professional world, as individuals increasingly seek the convenience and flexibility offered by remote work, and technology has made it easier to connect with clients and collaborate with colleagues from anywhere in the world. In several regions around the world, where there is a shortage of domestic job opportunities, freelancing is seen as a viable solution. As a result, the global gig economy is projected to reach a staggering $455 billion by 2023.
 
Recognizing the potential of technology to transform the gig economy, Imbue has developed a state-of-the-art solution that employs blockchain technology to address the issues that plague traditional gig economy platforms. This decentralized platform empowers users to work independently, promoting fairness and equality in the job market. By catering to a diverse range of users, Imbue is shaping the future of the workforce and challenging the status quo of traditional multinational corporations.
 
Imbue is a game-changer in the realm of web3 job freelance platforms, revolutionizing the way freelancers and employers interact and conduct business through its decentralized and self-governing features. It is a next-generation platform designed to meet the demands of the modern workforce and future economy. Traditional freelancing websites like Freelancer, Upwork, and Fiverr suffer from the drawback of being centralized, with high fees that reduce earnings for freelancers. In contrast, decentralized platforms like Imbue offer zero fees, more power to freelancers, and are a draw for both crypto and non-crypto enthusiasts.
 
The Imbue platform enables project initiators to post tasks and receive bids from freelancers. The team behind the tasks can review freelancers' profiles, communicate with them, and select the best fit for their project. Once a freelancer is chosen, the project can begin, and payments can be released through a milestone system, where payments are made when work is completed to satisfaction. This system benefits both businesses and freelancers by ensuring that work is completed to satisfaction and that freelancers are paid for their work.
 
Furthermore, Imbue's decentralized platform enables both freelancers and employers to benefit from fair compensation and cost savings. This is achieved through the elimination of platform fees and the use of a milestone payment system, which allows the release of payments when both parties are satisfied with the work. As a result, both freelancers and employers can save money and ensure fair compensation, creating a mutually beneficial situation.

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Glossary: 

Brief Owner / Client:  A person or an organization that uses Imbue to find and hire a freelancer for a certain task

Project Initiator / Freelancer: An independent skilled individual who earns wages on Imbue by conducting projects/tasks posted by clients. A freelancer on Imbue is paid on a per-task basis. (Milestone basis)

Project Pass: A project pass is created by clients and includes details about the project, such as description, budget and duration preferences. After a pass is posted, it becomes available for freelancers to apply to it.

Dashboard : The dashboard offers the user a birds-eye view of all their projects. Here, a user can access a project dashboard to create tasks, share files, keep project notes, and track progress.

Task : Tasks are samples of work to be done or undertaken.Freelancers can create tasks within a project. Once a task is created, a freelancer can modify its status to reflect its current progress in the workflow. For example, by moving it from "In Progress" to "In review". Clients can only modify the status of a task. A status that is exclusive to clients is "Done", where a client can mark a task complete and initiate the payment process. 

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