📁Work Contract & Payment

People get paid for work they have done. Typically, the workflow begins with a job advertisement, followed by an offer or counter-offer. Once terms are agreed upon, a workspace is established between the involved parties and finally, payment is made. It is a no-brainer process, but there are multiple hidden obstacles.

• As an employer,

  • How do I make sure the work quality will meet my expectations?

  • How do I pay workers without being defrauded?

  • How do I deal with refunds and failed payments?

Smart Work Contract - the second pillar of TaskFi, guarantees a secure and safe way for people to work together. There are different models of payment offered by the smart contract: One-time payments, Milestone payments, and Flexible payments (coming Q1 2024), which meet most of the work payment requirements. It's like an actual contract between a promisor and a promisee on an agreed amount of work but with a higher level of safety and guarantee.

Disagreements and conflicts are an inevitable part of any work model. People usually need to see eye to eye when it comes to the definition of finished. They will argue about the quality of the work, whether it meets their expectations or not, even when the requirements are clearly stated before the job starts.

Dispute resolution is an essential part of the TaskFi Protocol. Therefore, we introduced a third party called the Judge to help resolve these conflicts between employer and employee. The concept is simple: two parties agree on choosing a qualified judge who will show up when conflicts arise and give verdicts.

The only issue here is how to scale that particular "dispute resolution mechanism" - in other words, how to find qualified judges. The Profile and Reputation fit perfectly for the task. Doubtless, it's not only made for employers and employees but also judges. People with good reputations, certificates, and endorsements in a specific category could be promoted as judges. The incentive of the judge market comes from the service fee for disputes they resolve.

Every component of TaskFi Protocol conveniently seamlessly assists each other. The Profile and Reputation grow progressively and considerably push the quality of the Smart Work Contract. TaskFi Protocol puts as much emphasis on scalability and modularity as possible. The Profile and Smart Work Contract are decoupled to serve complex use cases and allow future expansion. The Profile could be utilized independently from the Work Contract since each has its values. The same goes for the Work Contract; if parties are willing to join a smart contract, it will work regardless of the Profile. For the zero-knowledge proof, we also allow institutes, companies, and firms to issue certificates using our service. This effectively solves the problem of fake endorsements and false claims in résumés.