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Hopefully cryptocurrency payments is an option. ZK-Rollups now enable Visa scale throughput for payments on Ethereum so crypto is primed for widespread usage.

Hopefully cryptocurrency payments is an option. ZK-Rollups now enable Visa scale throughput for payments on Ethereum so crypto is primed for widespread usage. Linkedin could stick with USDC, which is an FDIC insured USD-backed ERC20 token, to avoid the volatility associated with crypto-assets, while providing a more seamless globally accessible alternative to the legacy banking/payments system. EDIT: privacy is still a big issue though. Linkedin's payment graph would be published to the blockchain with no obfuscation, which would undoubtedly create significant liabilities. Privacy is data and computationally intensive, so ZK-Rollup throughput capacity would decline from 3,000 tps to 300 tps with confidentiality added.

KDJohnBrown 6y ago
Normally I would scoff at this, but having had to physically chase down customers before over bounced checks, I could really get behind something unreturnable like cryptocurrency.
- kube-system 6y ago
  Of course, people on the receiving end of a payment love un-reversible payments. The same is not so true for people who are sending said payment and expecting that work gets done.
  - bawolff 6y ago
    If only someone would make a gig marketplace website that could act as an escrow, collecting money upfront and distributing once the work is done.
    - KDJohnBrown 6y ago
      Trust is difficult. How do you programmatically define “done” so that the customer cannot screw you?
- mytailorisrich 6y ago
  Good luck reversing a bank transfer.
  - KDJohnBrown 6y ago
    You would be surprised how many American companies still prefer to pay check. I used to consult for a payments startup which would only pay by check (and always at least 45 days late). It’s a way to abuse vendors.
  - CryptoPunk 6y ago
    Wire transfer fees can be prohibitive for small contracts, and making an international transfer is quite time consuming, in that it typically requires visiting a physical bank branch.
patrickk 6y ago
I've hired someone for a short term, low-price contracting gig recently (not on the marketplaces mentioned here) who specifically requested to be paid in cryptocurrency if possible and even offered a discount for that. The reason was that after converting USD into his local currency he would get robbed by Paypal fees. So I support efforts to enable faster, seamless global commerce which will help gig workers to get more gigs and avoid paying middlemen ridiculous fees. Those downvoting you probably don't have experience with gig workers from poorer parts of the world, where middlemen like Paypal are a barrier to commerce.

KDJohnBrown 6y ago

Normally I would scoff at this, but having had to physically chase down customers before over bounced checks, I could really get behind something unreturnable like cryptocurrency.

kube-system 6y ago
Of course, people on the receiving end of a payment love un-reversible payments. The same is not so true for people who are sending said payment and expecting that work gets done.
- bawolff 6y ago
  If only someone would make a gig marketplace website that could act as an escrow, collecting money upfront and distributing once the work is done.
  - KDJohnBrown 6y ago
    Trust is difficult. How do you programmatically define “done” so that the customer cannot screw you?
mytailorisrich 6y ago
Good luck reversing a bank transfer.
- KDJohnBrown 6y ago
  You would be surprised how many American companies still prefer to pay check. I used to consult for a payments startup which would only pay by check (and always at least 45 days late). It’s a way to abuse vendors.
- CryptoPunk 6y ago
  Wire transfer fees can be prohibitive for small contracts, and making an international transfer is quite time consuming, in that it typically requires visiting a physical bank branch.

patrickk 6y ago

I've hired someone for a short term, low-price contracting gig recently (not on the marketplaces mentioned here) who specifically requested to be paid in cryptocurrency if possible and even offered a discount for that. The reason was that after converting USD into his local currency he would get robbed by Paypal fees. So I support efforts to enable faster, seamless global commerce which will help gig workers to get more gigs and avoid paying middlemen ridiculous fees. Those downvoting you probably don't have experience with gig workers from poorer parts of the world, where middlemen like Paypal are a barrier to commerce.