˜1.57 billion: global freelance workforce

3.38 billion: total global workforce

The above data is as of 2024.

In the United States alone, there are around 76.4 million freelancers.

According to data from ASSOCHAM (the Associated Chambers of Commerce and Industry of India), India had 15 million independent workers or freelancers in 2020.

<aside> 🚀 The global freelance market is estimated to be worth $1.5 trillion.

</aside>

Such a huge industry!

What if the freelance market alone comes to Web3?

Now, let's explore the challenges freelancers face with traditional payments!

Zero Hash and Lightspark surveyed worldwide, revealing significant frustration with traditional payment systems.

Here are the challenges freelancers face with traditional payments:

• Speed:
  • 48% experience delays in getting paid.
  • 75% want payments within 24 hours; 45% desire real-time payments.
• Costs:
  • 49% find fees high and impacting their earnings.
  • 18% say fees significantly affect their income.
• Volatility:
  • 30% report local currency volatility issues.
  • 40% in LATAM highlight local currency instability.
• Cross-border compatibility:
  • 65% have lost money due to incompatible currencies for cross-border work.