Business Case
As a future operator of a labor marketplace, you want to…
- Foster user loyalty.
- Help users connect with their best-fit partners on your platform.
- Make money.
TalentLayer is infrastructure for open labor markets; backend tools for building interoperable labor marketplaces that leverage blockchain tech for escrow, dispute resolution, job pools, reputation, and more. In other words - tech that helps you meet your goals as a business!
Why are platforms integrating with TalentLayer? Because TalentLayer helps platforms…
- 1.Go to market rapidly: Stop re-building the wheel. Leverage TalentLayer’s modular tools as the foundation of your world-changing marketplace.
- 2.Increase completion rates for work: Bring more jobs to workers on your platform. Bring more workers to hirers on your platform. Increase velocity of transactions, foster user loyalty, and increase revenues.
- 3.Build user-centric tech: Give users the benefits of interoperability - portable reputation and sovereign identity.
The next generation of marketplaces is possible thanks to blockchain tech - the underlying innovation that TalentLayer leverages for interoperability, financial transfers, and reputation.
With TalentLayer's modular tech stack, you can launch a marketplace in a fraction of the time it previously took. TalentLayer's smart contracts, subgraph, and team are here to help you get to market fast.
Right now, users of freelance platforms and talent pools resort to maintaining duplicative accounts across many platforms because they can’t find sufficient counter-parties on just one platform. This is the crux of the “chicken and egg” problem in marketplaces.
👩🏽 User Story: Mei Ling is a freelance Javascript engineer in France. She uses Upwork, Toptal, and a freelance marketplace that serves France, to find work. She maintains user accounts and reputations on each platform because if she just used one, she wouldn’t be able to find enough gigs to sustain her career.
👨🏻 User Story: Yusef is a ride share driver in Miami. He uses both Uber and Lyft every day when working. He keeps both apps open at once because finding riders on just one app doesn’t give him enough riders to make the pay worth his hours invested.
If you speak to any gig worker, this type of situation is not an outlier; it’s the norm. Even the biggest labor marketplaces have strong liquidity issues.
Using multiple platforms means:
- Users deal with more friction when it comes to maintaining accounts and finding work
- Users are forced to use multiple platforms, when they’d rather use just one
Bringing higher liquidity of users and gigs to your platform means users will stay because they don’t NEED to move. This leads to improved user experience, more revenues, and increased user loyalty for your platform.
Through increasing liquidity of users and gigs on your platform, you reduce friction in the hiring process; this friction today impacts the amount of labor and funds that can be exchanged between counter-parties. With higher liquidity, more work can be done on your platform; this in turn leads to more revenues for you and your team.
We can all benefit from more efficiency in labor markets - imaging the human potential waiting to be unlocked!
📚 Cross-Industry Case Study: In decentralized finance or “defi”, platforms generally interface with one backend for liquidity; for example, thousands of frontends leverage Uniswap’s smart contracts and liquidity pools. This enables them to conduct transactions in quantities unheard of in traditional finance, with dramatically less friction. The same is now possible in labor markets thanks to TalentLayer.
Want to build a new platform natively with TalentLayer? We have resources to help your team get off the ground fast with your platform’s integration.
Last modified 6mo ago