By Tamim Hakim
Brand View: Boon Tech's founder and CEO, Rajesh Pavithran, speaks to Arabian Business about the online freelancing market and how it will be reshaped by block chain
The world’s first AI powered freelance job platform is set to redefine the way freelancers and entrepreneurs interact in the region, according to its founder.
“There are a lot of issues in the current online freelancing platforms,” said Rajesh Pavithran, founder and CEO of Boon Tech.
“When blockchain happened, I realised it actually solves a lot of these issues,” he added.
Boon Tech aims to add value to this market through the new technology. He said blockchain will help eliminate the service fee.
“You can eliminate the middle man, which is usually a bank,” Pavithran said.
The US-based company went live with its new platform in November 2017. It managed to raise some money through a fundraising campaign ahead of the launch the website and app, which now have more than 800 users.
Pavithran, speaking about recent expansion, and why Dubai appealed to the online platform, said, “Dubai is a very open economy and there are a lot of skilled people here for marketing.
“Also, Dubai’s time zone is perfect for us to expand to any part of the world. As we are based in the US, it is very difficult for us to operate in Asia and Europe without a base in Dubai.”
Pavithran explaine that there are two revenue models, the first of which is the membership fee.
"We have different types of memberships. The initial membership is free and anybody can use. The next one is where we provide more features and a bigger portfolio.
“We can afford to have a lot of people using our platform for free because for us it’s a small amount of data we have to store. For us to store a little amount of data, you will probably have 500 words for your profile, that’s all we need. So it’s not a lot of infrastructure expense from our part.
“That means we can actually give people a lot more opportunity to use our platform without spending a lot of money from our end.
“The second thing is based on blockchain, so we don’t have to do anymore filtering basically because blockchain allows us to do that. There is no middle man, it’s strictly two parties. So we don’t have to go through the procedures that a traditional company goes through.
“That’s just the case with any other block chain project. You do business with somebody directly and you don’t need permission from somebody to trade anything. It’s between two people.”
According to the CEO of Boon Tech, the global freelancing industry grew by 700% from the year 2014 to 2015.
“The trend is like that, the freelance industry is growing every year,” he said.
Pavithran has a bright outlook for the future. “If we meet our marketing goals, we will be bigger than any other platform in the industry.
“I don’t see any barriers for that because, there is no incentive for anybody to leave our platform. They don’t lose anything to have an account in our platform. The only downside is they will get emails, but they can turn that off,” he said.
Brand View allows our business partners to share content with Arabian Business readers.
The content is supplied by Arabian Business Brand View Partners.