Top 3 Predictions About The Future of Freelance Work

Companies around the world are looking for talent. And those whose talents and skills are in demand can control their working lives: where to work, how to work, what compensation to receive, and so on. More and more opportunities open up for freelancers who keep up with the times and constantly develop their skills. Some even predict that by 2027 the majority of the workforce will be made up of freelancers rather than full-time employees. I also have my own predictions about the future of freelancing jobs in USA, here are the three most important:

1. Blockchain will become an important factor in the work life of freelancers

For many freelancers, the definition of blockchain is limited to the technology behind the rise of the cryptocurrency markets. But the blockchain has many bonuses for other sectors of the economy, including freelancing. Here are some options:

Smart contracts. Freelancers depend on contracts with clients. These contracts are the basis of the breadth and volume of work a freelancer does and the amount of pay he receives. However, 58% of freelancers still don't get paid for their work and almost 50% of freelancers report ongoing problems with being paid on time. Recording and storing contracts on the blockchain in the public domain without the ability to make secret changes can reduce disputes or forgery of contract details. The “but he said this and she said that” scenario will be eliminated.

Another aspect of smart contracts is the automatic payout after the task is closed. So, the contract might say, "When X is delivered to the client, a payment of Y amount will be sent to the freelancer." Such contracts increase the payment process and the terms are stored securely.

Evidence of work. When a freelancer completes a project, they can record their project on the blockchain, where it will be permanently and immutably stored. This is absolute proof that the project was completed - it will help remove any doubts about the theft of work, intellectual property, and so on. All activities will be recorded by time and date. The old copyright and patent systems will be transformed into new, clean, streamlined storage and recording processes.

Money transfers. Cryptocurrencies and the blockchain technology that supports them are independent of a central bank. When a payment goes through a regular bank, fees are charged from it, often quite significant. Even when the money is transferred to PayPal, a fee is charged. Margin fees are removed from cryptocurrency payments, the freelancer keeps more of what he has earned. It also helps freelancers work with countries that have difficulty receiving payments.

Business opportunities for tech-savvy freelancers. Blockchain is already being used, at least in pilot projects in the areas of government, healthcare, travel, insurance and financial services. In the next ten years, public and private blockchain technologies will continue to expand. Today, blockchain specialists are already in high demand , and this need is only going to grow.

Advertising. Freelancers have to promote themselves - look for places with their target audience, contact advertisers, sign contracts, monitor the success of channels. Blockchain together with AI may provide another solution. Now there is a company Ubex that offers a decentralized ad exchange. It provides AI information and recommendations to its clients so that they get a scientific approach to ad placement. Advertising money can be spent to great effect.

2. Competition between cities will change

Traditionally, cities compete against each other when a large campaign announces that it is looking for a new headquarters. Competition is smart — the winning city gets growth opportunities and new jobs.

But such situations will disappear with an increase in the number of freelancers who themselves choose in which place and city they work. Thus, cities will no longer compete for the location of the headquarters of companies. Instead, they will compete to provide a better work environment for freelancers by developing urban innovations, green spaces, leisure spaces, and so on.

3. Freelancers will finally unite in their demands

Now freelancers are victims of customers. The volume of work grows without negotiating a new price , the performers are paid fees very slowly. There is no insurance or contributions to the pension fund. The reason is that freelancers do not have the same legal status as regular employees.

The situation is starting to change as governments and legislatures—local, national, and national—recognize the gaps in that the number of professionals is growing but not making a significant contribution to the economy . In the next ten years, freelancer status will be legalized and working conditions will be improved.

Other technologies, innovations, changes in how we imagine the workforce will bring new elements to the freelance market. Those freelancers who keep abreast of evolving concepts and customer needs will be able to build a lucrative career.