SmarTrust Shakes Up Freelance World with Blockchain Escrow!

Hold onto your hats, folks! SmarTrust is storming into the freelance scene, ready to challenge giants like Upwork with its mind-blowing on-chain escrow system.

On Wednesday, April 30, the Reactive Network Developer Fund threw their support behind SmarTrust, the newest kid on the block. This daring project is cooking up a multichain escrow layer for Web3 freelancers and clients, all powered by the magic of Reactive Smart Contracts.

Get this: clients can now lock their funds in smart contracts, and release them in milestones as payments roll in. It's all transparent and programmable, no pesky middlemen needed. And here's the cherry on top - third-party dispute resolution for added security, keeping both clients and freelancers safe and sound.

Reactive Network: The Heartbeat of SmarTrust

SmarTrust isn't just playing around; they're leveraging the power of Reactive Smart Contracts. With an event-driven infrastructure, they can work across multiple EVM-compatible chains and even bridge the gap between them. Emilijus Pranckus, the big cheese at Reactive Network, spilled the beans on how Reactive is the lifeblood of SmarTrust.

"SmarTrust is diving headfirst into a real-world problem that's been bugging people for ages. By weaving Reactive into the very fabric of their app, they're creating trustless connections between clients, freelancers, and adjudicators that can scale like crazy. It's a perfect example of how a decentralized, event-driven IFTTT network can supercharge a whole bunch of smart contract-based apps," says Emilijus Pranckus, the mastermind behind Reactive Network.

The freelance market? It's exploding, baby! From 2020 to 2024, the number of freelancers in the US skyrocketed by a whopping 90%, and the party's just getting started.

By 2027, a mind-blowing 86.5 million Americans will be freelancing, which is more than half of the entire workforce. And get this - the freelancing market is set to grow from a cool $6.55 billion in 2024 to a staggering $14.17 billion by 2029. The secret sauce? Companies need a flexible workforce to keep up with the breakneck pace of change.