Vites Whitepaper

Abstract
Freelance workforce growth is accelerating and has outpaced overall U.S. workforce growth by three times since 2014. Work is changing rapidly due to the impacts of automation, and freelanc- ers are better equipped for the future due to more frequent reskilling, and as per the research by freelanceunion.com, 57%2 of the American workforce would be freelance based by 2027. Despite significant growth recorded by this marketplace and mass adoption by skilled professionals from all around the world, freelancers and employers are still facing issues which is making freelancing a difficult working environment. Freelancers are facing issues such as a quarter of their earning being deducted in commission while they still have to wait for around two weeks once their orders have been accepted. Chargebacks, Unjust Account Suspension, Outdated and ineffective Review, and Rating models are some of the issues faced by freelancers.

Vites is a modern age freelance marketplace created with the aim to resolve all such issues faced by traditional freelance industry and enable seamless, risk-free connectivity between freelancers and buyers at minimal costs. It serves as a state-of-the-art peer-to-peer marketplace for offering and hiring services without involving a middleman and allow them to create potential long-term collaborations with freelancers getting a fair share for their efforts while buyer getting quality work at optimal rates.

The aim of the Vites Ecosystem is to facilitate people from all walks of life, whether an individual needing assistance in his normal day work; a startup looking for cost effective but quality solutions; or an established business aiming to source out some of their workload. Being an existing crypto- currency, Vites Coin is striving to fully harness the innovation offered by revolutionary blockchain technology and will serve as a true replacement for the traditional freelance platforms. The added features of blockchain i.e. transparency, immutability, scalability accessibility would not only allow automated organization of the platform, but also allows to add trust among the parties.

This white paper gives a detailed description of how we aim to facilitate freelancers and employers, Vites platform associated products and solutions, and introduces the payment gateway i.e. Vites Coin within Vites ecosystem. It strives to inform our readers how we are using our teams’ expertise to provide blockchain based and smart contracts secured freelance services at minimal costs.

Vites-official-white-paper-v1.1

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Vites whitepaper