Faradam: Bitcoin Micropayments for Freelancers
Freelancers are usually working with contractors from all over the globe, which makes the idea of bitcoin micropayments appealing. Not only does this reduce the transactions costs normally incurred through online payments, but it also mitigates the risk of exchange rate fluctuations. Enter Faradam, a new bitcoin micropayments tool invented by Michael Faraday, which uses a simple timer to facilitate payments between parties. Freelancers using the service only need to provide their name, hourly rate, and bitcoin wallet address while contractors receive a link that can connect to the wallet.....
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A new bitcoin micropayments tool has launched to take aim at the global freelance and on-demand services market. Called Faradam (after inventor Michael Faraday), the service uses a simple timer to facilitate payment between two parties, with freelancers seeking to leverage the service only needing to provide their name, hourly work rate and bitcoin address. In turn, those looking to employ short-term services simply receive a link and connect a wallet. Created by former Quasar Ventures senior business analyst Demian Brener; engineer Esteban Ordano; and Manuel Araoz, the developer behind....
On December 19, 2014, United States President Barack Obama signed an executive order prohibiting financial transactions between people and businesses located in the United States and Crimea a region of Ukraine. Because of the sanctions, Crimean oDesk freelancers were no longer able to receive payment for their work if they were employed by US companies. Even worse, the companies couldn’t pay them for the services they already completed due to the legal restraints. oDesk is one of the world’s largest freelance marketplaces, allowing freelancers to set their own rates and businesses to find....
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