Amsterdam – August 2018 – Zoom, the project management, and global outsourcing platform, is utilizing blockchain technology to enable business relationships, project planning, and a secure payment system. The Zoom platform facilitates connections between freelancers and virtual companies by using a blockchain ID system, artificial intelligence, and smart contracts. Zoom is using the security of the
Amsterdam – August 2018 – Zoom, the project management, and global outsourcing platform, is utilizing blockchain technology to enable business relationships, project planning, and a secure payment system. The Zoom platform facilitates connections between freelancers and virtual companies by using a blockchain ID system, artificial intelligence, and smart contracts.
Zoom is using the security of the blockchain to build an ecosystem that supports and simplifies multi-stage and multi-stakeholder projects while providing an employment portal for virtual companies hiring freelancers. Virtual companies and individuals on the platform can post projects and request available freelancers they find through the employment portal. Freelancers can enter the portal and receive an overview of posted projects and businesses looking to hire those with relevant skills. When either party wishes to connect, a chat window appears and they can begin negotiating the terms of work. Using a unique milestone structure and what Zoom calls “Contract Trees”, freelancers can be organized into structures to solve complex projects.
The main, technological columns supporting the Zoom platform consists of:
- Milestone Infrastructure: Separate contracts that delegate specific stages and deliverables of a project to be completed by a specific time
- The Tribunal: A jury like structure recruited by the platform automatically on a case by case basis that reviews and resolves reported conflicts within projects and milestones
- Blockchain ID System: Confirms the identities of potential employees and employers using a consensus algorithm that verifies, validates and authenticates private data
- Smart Contract Escrow: Secure payments and transactions via formal business agreements
- Work History and Reputation: Combining the technological columns above allows Zoom to create validated work histories and reputations tied to secure IDs to limit fraud
Zoom’s utility token is integrated into the platform’s ecosystem and serves as a user incentive for purchasing products and services at a reduced cost. Built upon the Ethereum blockchain, users also have the option to use Ether (ETH) to make purchases and access Zoom’s features. Zoom’s upcoming ICO for the Zoom Token will begin in late October/early September and will have a hard cap of $24.5 million USD.
“Over the years, my family has experienced an array of distrust and disorganization within the online freelancing field. Eventually, we came to realize that it was time to create a solution that ensured effective project management and global outsourcing capabilities,” says Plamen Nedyalkov, CEO of Zoom. “At Zoom, we’ve decided to enhance outsourcing and project management with blockchain and the security features it has to offer companies and freelancers. By using smart contracts, an ID verification system, and a unique milestone infrastructure, Zoom has created the ultimate platform for designing, planning, and executing a series of tasks without complication.”