GoLance CEO called Ripple ODL the best solution for freelancers in terms of effectively addressing existing problems. Ripple ODL (liquidity on demand) technology is being actively implemented by various companies. This Ripple idea is quite reliable. Many experts called it the most suitable for delivering maximum convenience to consumers with money transfers. So, now Ripple ODL is praised by GoLance CEO Michael Brooks as the best solution for freelancers, due to the cost and speed of transactions.
GoLance CEO Named Ripple ODL Best Freelancer Solution: Details
GoLance CEO Michael Brooks called Ripple ODL the best solution for freelancers, given its high speed and low transaction costs. GoLance, a U.S.-based and affiliated employer freelancer, has adopted the Ripple ODL product to offer its customers cheaper payment services and faster shipping.
GoLance CEO Michael Brooks emphasized that he chose Ripple technology after understanding the needs of his customers and the importance of a faster and cheaper payment service. Brooks explained that freelancers are very sensitive to cost and transaction speed. When he noticed this, he found that Ripple technology was the best solution to existing problems. The head of GoLance noted that he even personally spoke with freelancers, in particular, in the Philippines, in order to understand this. On-demand liquidity from Ripple enables the company to make incredibly efficient and low-cost payments that delight customers and foster business growth.
More than 500 thousand freelancers work with GoLance. The platform faces a high cost challenge in developing its new communities, which offer talented people in the developing world easy access to professional work and sustainable sources of income. GoLance claims that the lengthy time it takes to process international payments using traditional means is also an obstacle to company growth. Brooks said GoLance is committed to paying freelancers on time so that they can meet their basic needs, in particular, feed their families.
Organizing quick payments from one part of the world to another using several currencies is not easy. Moreover, in places such as Mexico and the Philippines, there are also usually high fees from employee income, and this sometimes leads freelancers to a standstill. The traditional method of transferring funds here is completely unsuitable, since it takes days, and transferring small amounts does not make sense at all, since the recipient loses a huge percentage of his earnings. Another option is the development of relations between banks in each country, however it is rather complicated, takes a lot of time and limits liquidity.
That is why it is much more profitable to use Ripple technology, where after connecting everything will work in a couple of weeks, and users will receive a good and reliable service, ideal for them. Brooks explained that goLance was created to help people in developing countries so that they can provide themselves with a reliable source of income. The need for stability and reliability also led to the desire to choose Ripple and turn to the digital asset XRP, which is used for conversion in international transfers.
The head of goLance emphasized that, for example, Bitcoin in this case would not be suitable at all, since its cost is too variable, and the recipient would have to go through an additional step of converting it into its national currency. Also, if problems arise, it is more difficult to contact those who are responsible for Bitcoin. On the other hand, Ripple is more profitable in this regard.
The goLance CEO said he has been to Ripple’s offices around the world and is actively working with the team to expedite and increase payment efficiency. The head of GoLance said that the ease of creating a new solution for payment corridors through a partnership with Ripple will allow the freelance platform to satisfy customers and better compete in the industry.