Bidium is attempting to develop a Crypto Exchange dedicated to Auction and Hiring by empowering Bidders and Employers.
BIDIUM is a decentralized cryptocurrency exchange which combines the power of Advance Auction with Freelance Hiring on top of Blockchain Technology. It acts as a bidding marketplace for buyers to purchase by bidding and a freelance platform to employers, who are looking to hire freelancers. The transaction could be made with the aid of more than 10 coins. The exchange accepts BIDM (Bidium native token), Bitcoin, Ethereum, Litecoin and other coins that will be announced at a later stage.
In the UK alone there are 1.4 million freelancers that are working across all sectors. The number of freelancers has grown 14% over the past 10 years and this is continung to grow. In the US, The contribution of people that do freelancing, to the economy is estimated to be $715 billion!
So as you can see there is a massive market here.
So Bidium has identified some major problem, they fell needs to be addressed and they intend to achive this by creating a decentralized marketplace that is self regulating by freelancers and clients.
So the issues they come up with are:
Lack of Transparency in Skill Evaluation
The idea of decentralized bidding platform is to improve transparency and
make online bidding for goods and services more competitive?
Poor Customer Support
Long Transaction Times
High Probability of false transactions
The backbone of Bidium platform is ‘Blockchain technology’ backed with ‘Proof of stake’ algorithm built on the Ethereum platform.
As far as the fees go, there is a 0.1% transaction fee if you use their native coine and 1% if you use other cryptocurrencies to pay these fees.
Now each user will have their own wallet, where they can store they tokens and coins, and use these to pay their fees, or purchase more Bidium tokens.
ICO Will start next month and the MVP is also due to launch next month. Now if you do decide to register for the ICO, becareful, because my registration email went to spam.
Now like I said I have a few questions about this project and I’ve contacted the people behind the project. If and when I get a response I’ll update this video.
The team has a strong background in web developement and blockchain technology. The team is pridomently Indian, but they are registered in Estonia.
If you want to learn more about Bidium, you can click here: Bidium
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