With the freelancing space continuously evolving, smart contracts can bring in a sea-change opportunity for both freelancers and clients. Smart contract development can streamline transactions through the automation of payment procedures. It will ensure that a freelancer gets paid out immediately upon completion of a project or attainment of specific milestones. This not only reduces the time it takes to get paid but also ends prospective disputes on deliverables, building trust between parties.
Since the terms of an agreement are encoded on the blockchain, smart contracts could induce transparency and accountability into proceedings. In other words, the freelancer and the client are both very clear on what is expected of them, what needs to be carried out, and what structures of payment are followed. When we combine smart contracts with freelancing websites, we should, in theory, be able to reduce the overhead cost associated with intermediaries, hence making such collaborations much safer, quicker, and more efficient.
Smart contract development could be the key to empowering freelance platforms to change the way we work together. What do you think?