MicroWorkers has integrated Ontology’s ONTO wallet in order to facilitate additional payment options for workers.
MicroWorkers’ integration of ONTO wallet completes the latest phase in their joint venture with the Ontology development team. Through the partnership, MicroWorkers plans to continue to promote users’ access to new and more flexible payment options.
As noted in an update from the Ontology team:
“To further their mutual aim of empowering microworkers across the globe, Ontology, the high performance, public blockchain specializing in decentralized identity and data, and global freelancing marketplace leader MicroWorkers (MW), have announced the completion of the latest phase of their collaboration.”
Ontology is working cooperatively with Microworkers to carry out the integration of its ONTO Wallet with the MicroWorkers platform. The integration should allow users to get their rewards via payment methods other than PayPal and Payoneer, while “increasing access to capital for many around the world.”
As confirmed in the announcement, the online freelancing market is growing steadily and members of the nascent industry are leveraging blockchain or distributed ledger technology (DLT) to make their platform and marketplaces “more efficient.”
This latest announcement has come when interest in crypto payments and related services has been growing. MicroWorkers will now be leveraging the Ontology blockchain to support its “growing AI demands and enable workers and employers to use their ONTO digital wallets to receive and send crypto payments.”
The update further noted:
“MicroWorker users are also able to securely store and share their account history and reputation score through their ONT ID on-chain, allowing for cutting-edge encryption while placing sole control of the data in the hands of the user. With the initial test phase of the integration now completed, these services will soon be available to all MicroWorkers users.”
Li Jun, Founder of Ontology, noted that they’re proud that this collaboration will allow users and employers of MicroWorkers to get paid via the ONTO app, “showcasing Ontology’s blockchain and identity platform as a way to deliver these much-needed services at a time when micro workers most need it.”
By using their ONTO digital wallet, MicroWorkers are able to withdraw Binance USD (BUSD) virtual currency, and then make deposits in Euros into their debit cards. This “greatly expands the amount of withdrawal methods and currency types available for users of MicroWorkers, giving them greater choice over how they get paid for their work,” the announcement noted.
While sharing other benefits this partnership should offer to users, the update revealed that there’s now a “significantly lower withdrawal fee rate, which at 2% is lower than other withdrawal methods on the current MicroWorkers platform.”
The update also mentioned:
“Additional benefits will be [also be] offered, including the elimination of card opening fees and the wider availability of digital currency rewards…. an income certificate can [also] be generated on ONTO with one click, which provides convenience for users when seeking related jobs, and also makes ONTO’s functions more demonstrative.”
Nhatvi Nguyen, CEO at MicroWorkers, stated that “by enabling this integration with Ontology, we are making significant strides in terms of how our workers can get paid.”
“We believe that this development will promote a new level of financial freedom among our platform users and enable them to benefit from the number of exciting new services that we have in the pipeline. We see blockchain and digital identity as hugely important, and we’re dedicated to leveraging these emerging technologies to provide micro workers around the world with the best possible experience.”