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‘Taskbar launches disruptive peer-to-peer gig economy platform, built on Hedera.’

Press Release – 22nd September 2021

The Taskbar platform will be a gateway for people to interact, offer services and fulfil their needs. Taskbar’s mission is to disrupt the gig economy in two very important ways.

First, by promoting the idea that everyone has a skill that others could find valuable. Taskbar users, affectionately called Tasketeers, are encouraged to add their skills to their profile and to both buy and sell services through the two-sidedmarketplace; so, for example, whilst one day a user might need to find a coder to help fix some software bugs on their website, the next day they could offer their copywriting skills to the community.

Existing platforms, even in the blockchain space, are built in such a way as to segment buyers and sellers, or seekers and taskers, as distinct groups of people. Taskbar is built so as to be used interchangeably as both seeker and tasker.

And second, by using decentralized ledger technology (DLT) to remove the centralized third party which typically extracts up to 30% of the value of all transactions and thereby realign the platform incentives in favour of the users.

Workers in the traditional freelancing or gig economy, whether using platforms such as Upwork, Uber, TaskRabbit or Fiverr, have typically seen their net incomes eroded whilst making billionaires of the early investors and founders ofthose platforms.

Taskbar was founded by three entrepreneurs who met in Dubai whilst hosting and attending blockchain meetups and realized that the gig economy was the one of the most obvious sectors ripe for disruption through blockchain technology.

The Taskbar team has rolled out a ‘proof of concept’ to the Hedera community last month and beta users have already started creating profiles, adding their skills and posting tasks to be carried out. Various enhancements are planned over the coming months.

Currently, Tasketeers are able to earn and spend HBARs, the native cryptocurrency of Hedera Hashgraph, through the platform, with plans to include other cryptocurrencies and fiat currency options.

Whilst initially targeted at remote digital/tech tasks, the platform can also be used for physical tasks and geo-location technology will be added to facilitate the provision of local proximity services. Taskbar is envisioned by its founders as a platform that will help to provide workers with a greater “Safety Net 2.0”.

Taskbar is built on the lightning-fast, super economical and environmentally friendly Hedera Hashgraph ‘proof of stake’network. Other blockchains, which typically use ‘proof of work’ to achieve consensus, suffer from expensive and unpredictable network fees, whilst Hedera fees are fixed in US dollars and are a fraction of a cent per transaction. Keen to support new projects launching on their network, Hedera Hashgraph offered Taskbar a place on its incubator program, Hedera Boost.

Taskbar is currently managed and operated by Taskbar FZ-LLC, a company incorporated in Dubai Internet City, and supported by the Dubai Government’s in5 Tech incubation program. However, the vision is to transfer the ownership of the Taskbar platform to its’ community members through a utility and governance token, the TBAR, which will help to keep platform fees to a minimum ensuring the community benefits as much as possible. Taskbar will then be managed as a decentralized autonomous organization (DAO) with token-holders voting on the direction of the platform, its fees, incentives and any necessary dispute resolution processes between users.

Ahmed Shlibak, Co-Founder of Taskbar, said: The Hedera Token Service will enable Taskbar to predictably and reliably scale the use cases and versatility of our native utility & governance token, the TBAR.”

Tudor Holotescu, Co-Founder of Taskbar, said: “The Taskbar community is a driving force behind the gig economy of the future. An economy defined by inclusiveness, transparency, and decentralized governance.”

Richard MacNamara, Co-Founder of Taskbar, said: “We are excited to continue building the Taskbar ecosystem and transforming into a fully decentralized platform owned and run by the TBAR token holders. To achieve this, we are inviting interest from venture capital firms looking to invest in our seed round.”

About Taskbar

Taskbar is a disruptive DLT-based platform for the freelancing gig economy, owned and managed by Taskbar FZ-LLC, licensed by Dubai Internet City with the support of the In5 incubation program.

For more information, please check our website (where you will also be able to access our One Pager and LitePaper) and short intro YouTube video

The Taskbar platform is available in beta, with improvements planned to be rolled out, powered by Hedera Hashgraph. You can check it out and there are some explainer walkthrough videos

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