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A new application has been found for blockchain. The project management and outsourcing platform Zoom uses the technology to enable business relations, project planning and secure payments. Zoom connects freelancers and clients through a blockchain ID system, artificial intelligence and smart contracts.

Zoom uses the security and transparency of the blockchain to build an ecosystem that supports and simplifies multi-stage and multi-stakeholder projects. It also provides an employment platform for digital companies that need to hire freelancers. Digital companies and individuals who are part of Zoom can place projects and hire freelancers.

Clearly laid out whole

As soon as a freelancer is on the portal, he or she can also see an overview of all possible projects and companies that are looking for certain skills. Once the parties have found each other, Zoom opens a chat window where the contract and payment can be negotiated. Zoom uses a structure consisting of Contract Trees, whereby freelancers can be organized into structures to solve complex projects.

At the moment the platform is not yet active, but Zoom’s hope is to be able to attract freelancers quickly. CEO and founder Plamen Nedyalkov informs Venture Beat that the platform needs to be available quickly and that there are a number of partners who are involved in the launch. They help us to identify the needs and wishes of different user groups.

Blockchain crucial

Nedyalkov states that blockchain is crucial for matching companies with freelancers, executing secure payments and identifying individuals. Many of the options that now exist are slow and rely, for example, on third parties for the execution of payments, he says. However, the use of blockchain in Zoom is also about payments, which makes it easy to quickly confirm identities and make payments.

At the moment, the Zoom platform is still being developed and the systems are being built. For example, the developers are still working on an interface between the web app and the smart contracts. But the expectation is to accept companies within a month and a half and then become operational as soon as possible.

This news article was automatically translated from Dutch to give Techzine.eu a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.