Blue Whale Foundation

The modern world does not stand still and is constantly evolving. 50 years ago society could not imagine what it was like to work for oneself. The people of the past had a different pattern of behavior, including early morning awakenings, a stable working day and timely payment of labor. People worked to, first of all, provide for their families.
Now the behavior pattern has changed significantly. We have become more free, open to the world and self-sufficient. We no longer force ourselves to go to the least favorite job. Thanks to the development of the Internet, we can afford to do what we like and get paid for it. Freelance gives people the opportunity to go beyond and open new horizons. Now we are able to organize our working day as convenient for us. Correctly prioritizing, we can devote more time to what we like, limiting ourselves from unnecessary work.
Today we are watching how the number of freelancers is growing rapidly. People are increasingly abandoning the traditional way of earning money and moving to a more convenient and measured. Studies have shown that by 2027, freelancers will account for 58% of the US workforce. Consequently, peer-to-peer booking platforms, such as AirBnB and Uber, are seeing a rapid growth in demand accompanying these changes in the labor market.
In connection with this, the pace of work and the difficulties faced by freelancers change, only increase. With the growing number of freelancers, they are increasingly worried about the lack of protection as such and the uncertainty of self-employment. Consumer protections have also weakened because of the murky legal relationship between freelancers and their host platforms. This simmering dissatisfaction has created popular backlash, as concerned governments in several countries such as France have begun to crack down on platforms like Uber3 and AirBnB4. Despite these worrying trends, no workable remedy has been proposed - until now.

THE DECENTRALIZED ECOSYSTEM FOR THE SELF-EMPLOYED

Blue Whale will provide a blockchain based decentralized application like Verlocal as a service. Verlocal is an SaaS tool that provides booking management, CRM, and intelligent marketing. This platform will act as a decentralized advertising network between freelancers and customers.
Freelancers and small business owners depend heavily on these tech giants to match them to jobs, verify that products and services have been delivered as agreed upon, and arbitrate disputes.

MAIN PROBLEMS OF THE SECTOR

According to the testimonies, freelancers and SMB (small and medium business) are faced with the following problems when providing their goods and services:

High Commission Rates

Most centralized gig/sharing economy platforms take between 20% - 50% in commissions from each transaction. Despite an advertised 25% commission per ride, booking platforms Uber and Lyft charge real, effective commission rates of up to 42.75% after deducting booking fees.

Expensive Marketing and Advertising Costs

Freelancers stay with existing centralized platforms despite the exorbitant commissions because these platforms act as information aggregators. They reduce the search costs for prospective customers by gathering them all on one platform, with a common interface and standardized interactions.

The average small business using Google AdWords spends between $9,000 and $10,000 per month and $100,000 to $120,000 per year on their online advertising campaigns alone.

Lack of Security: No Employment Benefits

Existing sharing economy platforms do not offer any employment benefits, making freelance work highly precarious for independent contractors. Ceasing work due to ill health, or family translates to a cessation in income. The Blue Whale Foundation aims to change that for the better.

PROBLEM SOLVING

The WORK (Worker Optimized Reward Keeper) system consists of the following three components:

• Contribution Activity Manager (CAM)
• Decentralized Associated Network (DAN)
• Reward Bank (ReBa)

Contribution Activity Manager (CAM)

The CAM has been designed to distribute the rewards earned through contributor activities. Rewards are provided for connecting to the Advertising Network, resolving disputes through Arbitration6 and building trust with the Verification system.

Decentralized Associated Network (DAN)

The DAN is created by installing SaaS tools such as Booking and CRM software on websites and social media accounts, transforming each website/social media account into a node in the network. The DAN collects user data from online traffic, much in the same way which search engine and social media giants like Facebook and Google currently do. The main purpose of DAN is to collect user data and build a decentralized advertising network as a main business model of Blue Whale Network.

Reward Bank (ReBa)

The Reward Bank functions as a depositary for receiving and disbursing rewarded Blue Whale eXchange (BWX) from providers to contributors. Deposits in the Reward Bank will be utilized as welfare benefits for freelancers as follows.

• Like pensions, rewards earned through referrals are saved in the ReBa, and payouts will be made only after a certain period; in a lump sum or monthly.
• 60% of the annual net profits for Blue Whale Foundation is reserved for offering paid leave in case of events like sick leave.
• In case the amount held in the reserve held in the ReBa falls below 20% because more rewards are drawn out to for paid leave and sick leave than planned, the reward bank reserve will be filled by issuing new coins based on consensus.

BLOCKCHAIN AS A SOLUTION

Blue Whale will build a network which consists of many blockchain nodes. Each blockchain node will keep track of all BWX transactions, which includes Rewards Bank balance as well as each user’s balance (the balance information is ReBa). Reading the Rewards Bank is open to public but writing on the Rewards Bank will only be allowed through consensus-verified transactions. When a new transaction which involves the BWX balance, change
Each service provider can participate in the Blue Whale Network by setting up local blockchain nodes within its network. ReBa balances will be distributed through networks comprised of the Blue Whale network as well as service providers’ own sub networks. Protection of integrity on the ReBa is most critical to the integrity Blue Whale ecosystem. The Blue Whale Network will utilize enhanced security mechanisms to keep the information safe, encrypted and hardened against attacks.

HOW IT WORKS

Freelancer A registers for the Blue Whale Network through freelancer B’s recommendation. Customer C can access freelancer A’s service either 1) directly or 2) via the Blue Whale advertisement network. Freelancer A also gains additional referral rewards by redirecting customer C to other freelancers. The referral reward is deposited in the ReBa and will be used for a long-term payout plan like pensions. In case of sick leave or vacation, the Blue Whale Network provides paid time-off on request.

ReBa / CAM-Freelancer Referral

Freelancer A registers for the Blue Whale Network with Freelancer B’s referral code. For the referral, both freelancer A and freelancer B receives an acquisition reward from the Reward Bank.

ReBa / CAM-Freelancer Verification

Freelancer A is to be validated by a verifier after registration. The verifier who works in similar industry and scores more than 4.5 on average, receives a reward from the reward bank for verifying the newcomer.

No Commision

Freelancer A receives a full-service fee from a customer without commission when the customer visits directly Freelancer A’s website. For example, if the customer makes payment of 100 USD, Freelancer A receives 100 USD in full.

ReBa / DAN / CAM-Service Referral
**
If a customer who visits Freelancer A’s service page clicks-through to the other service’s landing page and makes a purchase, Freelancer A will receive a referral reward from the reward bank in return for their user traffic.

Reward Bank - Retirement Reward

From step 4, Freelancer A doesn’t receive service referral reward instantly but instead the reward is saved in the ReBa and will be paid out after a maturity period like pensions.

Reward Bank - Paid Time Off

Freelancer A who fulfills certain conditions is eligible to receive paid time-off from the reward bank on request, based on their average revenue. However, if the number of paid leave exceeds the maximum, no reward will be paid to the freelancer.

THE PROJECT TEAM

Will Lee is the CEO of Verlocal. He is a serial entrepreneur and has been running a couple of startups in the San Francisco Bay Area for the past 7 years. Will has also worked in the sharing economy industry for 5 years. He studied Artificial Intelligence at Stanford University and now runs Verlocal, a SaaS enabled decentralized marketplace where people can monetize their intangible assets such as skills and knowledge. His mission is to empower individuals to become one-person business owners and maximize their full potential. He aspires to create a human-centered industry where individuals can continue to develop and improve themselves through learning experiences.

Hyunjin Choi is an expert in computer security with more than 20 years of experience in R&D as well as commercialization. As the head of Advanced Platform lab at Samsung Electronics, he led the development of software platform which now runs on a wide range of Samsung devices, such as smartphones, tablets, TV etc. Believing that security is the key to payment technology, he initiated secure operating system development and demonstrated a world first prototype during 2012 London Olympics in collaboration with VISA Inc. He also served as one of the chief architects during Mars Polar Lander project at NASA, USA. He holds a Ph.D. in computer science from Cambridge University, UK.

Jaehyun Park worked at SKT and at Samsung Electronics (VP) for 10 years. He developed the first sharing economy platform in Korea and created Samsung Pay as Global General Manager. He has spent over 24 years in the S/W and ICT industry. He is also an entrepreneur, a blockchain investor, and a public speaker. He has written about Software technology for over 10 years and continues to write technical columns on Electric Daily and ZDnet Korea about blockchains and cryptocurrencies. He is leading a blockchain technical research group.

ADVISORS

ICO DETAILS

Ticker Symbol: BWX
Technology: ICON
Token Features: Multi-Utility Token
Total Supply: 52,800,000,000(Token Sale) + 52,800,000,000
Soft Cap: 25,000,000 SGD
Hard Cap: 55,000,000 SGD
Accepted Currency: ETH, ICX

Pre-sale
Timing: April 1st / 2nd  - until April 15th (Midnight GMT)
Hard Cap: $15 million SGD
Bonus: 30%

Public sale
Timing: May 1st - May 31st
Hard Cap: $30 million SGD
Bonus: 10% «Early Bird» (applies only up to the first $10M SGD)

USE OF FUNDS

TOKEN ALLOCATION

ROADMAP

CONCLUSION

The decentralized ecosystem of Blue Whale can significantly rebuild the freelance economy for the better. The main mission of the project is to create a hardworking ecosystem of the world, which works for everyone, because it belongs to everyone.

WEBSITE https://www.bluewhale.foundation/
WHITEPAPER https://www.bluewhale.foundation/assets/Bluewhale_White_Paper_ENG_V.pdf
TELEGRAM https://t.me/bluewhalefdn
TWITTER https://twitter.com/BlueWhaleFdn
FACEBOOK https://www.facebook.com/bluewhalefoundation
MEDIUM https://medium.com/blue-whale-foundation
REDDIT https://www.reddit.com/r/BlueWhaleFdn/
ANN https://bitcointalk.org/index.php?topic=3135032.0
Author https://bitcointalk.org/index.php?action=profile;u=1186365