In our third Monthly Designer Talk, we decided to switch things up by bringing Sorbet’s co-founders, Rami and myself, to the stage. With the recent onboarding of our first batch of users, it was the perfect time to share our journey and the exciting roadmap ahead for Sorbet.
First, a huge thank you to every one who tuned in! Every successful platform begins with a few dedicated users who believe in the long-term vision and are committed to the community's success. These early steps are crucial, and that’s why we’re hosting these Spaces, writing articles like this one, and connecting directly with you all!
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Our Shared Story, Different Paths
Rami and I share a common story with many immigrant kids. Rami’s parents immigrated from Algeria to Canada, while mine from Tunisia to Canada.
Growing up between two cultures gave us a unique perspective on the disparities in opportunities on either side of the world. Our parents' dream was to provide their children with better chances through education, and that’s where our paths first crossed.
We met at university in Montreal in late 2014 through a mutual friend. We quickly realized that we shared more than just our origin story—we were both passionate about building careers in technology while nurturing a deep interest in the creative sector. Who could have known that this encounter would lead us, years later, to co-found Sorbet?
After a few years on the job market, we reconnected in early 2023, both eager to embark on an entrepreneurial journey to focus on unleashing the power of web3 for consumers worldwide. During our initial conversations, we recognized that the problem of unequal global opportunities for talent remained a significant challenge, one that our parents faced and that today’s digital workers still encounter.
The Reality for Freelancers in Emerging Markets
When we dug deeper, we discovered that freelancers in emerging markets face substantial challenges when it comes to collaborating with international clients. The global financial system has not yet caught up with the modern way of working. Freelancers experience payment delays, high fees, and currency volatility. And on the other side, the process can lack security and be tedious and expensive for clients.
How Freelancers Get Paid
Global freelancers navigate a complex web of payment options, but many of these methods fall short for global work. Digital wallets like PayPal, Revolut, and Wise, used by 45% of freelancers, are popular for their convenience but can carry high fees and currency conversion costs that eat into earnings.
Local bank transfers, which account for 43%, are reliable for local transfers but very slow and costly for cross-border payments.
Freelance payment platforms, used by 10%, offer some integration but still charge hefty fees. Meanwhile, cryptocurrencies or stablecoins, although promising, are adopted by only 2%, reflecting a young but existing appetite for an alternative solution.
These payment methods are not ideal for international work, where freelancers and clients need fast, low-cost, and reliable payment solutions. This is why many freelancers are leaving traditional marketplaces. With 77% reporting difficulties in securing jobs through these platforms, the need for better payment options is clear.
Moreover, 53% of freelancers face cash flow issues due to late payments, 49% are burdened by high fees, and 30% are worried about local currency volatility. These challenges highlight the growing demand for more effective, global-friendly payment solutions.
Our Roadmap to Empowering Creatives Globally
Solving cross-border payments for freelancers is an ambitious goal, particularly when it involves making the benefits of web3 accessible without the technical complexities. Our roadmap to achieving this vision involves two key phases:
Phase 1: Enabling Secured Transactions in USDC
In this first phase, Sorbet is focused on empowering the growing number of individuals choosing to become independent and take control of their careers. Millennials and Gen Z are at the forefront of this trend, with nearly 50% of Gen Z workers now engaged in freelance work, up from just 30% in 2019, according to a 2023 Upwork study.
At Sorbet, we believe in enabling all to scale their practice internationally, breaking down the financial barriers that typically limit their reach. A key part of this is providing a global payment experience that allows freelancers to transact seamlessly and securely with clients around the world.
During this initial phase, our platform will offer a milestone-based system to ensure maximum security and trust in transactions. Both clients and freelancers will transact only using USDC, meaning both will need to be comfortable bringing or withdrawing USDC to and from their Sorbet Wallet via an existing wallet or a centralized exchange like Coinbase. This approach is similar to other popular web3 social apps like Zora.
In this first iteration, Sorbet will serve primarily as a tool for creatives in the web3 space, enabling creatives to manage transactions with their clients more effectively and securely. This is just the beginning of our journey to create a more equitable and efficient payment system for freelancers worldwide.
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Phase 2: A Frictionless Global Payment Experience
In the next phase, we will expand the capabilities to enable both clients and freelancers to transact without needing to use USDC directly. This means clients will be able to pay with traditional methods like debit or credit cards, while freelancers will have the option to withdraw their earnings directly into their bank accounts.
We will maintain the core benefits of instant, low-cost payments, ensuring a seamless experience for all users. As we roll out these features, we’ll also be focused on identifying any gaps in the product and prioritizing feedback to enhance the global collaboration experience for both parties.
We will be starting this phase by empowering freelancers in the Middle East and North Africa, giving them the tools to connect with clients worldwide. This step is part of our broader mission to break down barriers for freelancers in emerging markets.
“Blockchain can provide a global payment solution by building financial inclusion, eliminating delays and costs, and bringing transparency and trust to all. - Rami Djebari, Co-Founder at Sorbet (State of Web3 in Saudi Arabia by Adaverse)
As with any payment platform, there are significant compliance and regulatory requirements that must be met. We’re committed to meeting these standards and are gearing up to release this comprehensive global payment experience in 2025.
Conclusion
From the start, our mission with Sorbet has been deeply personal, rooted in our shared experiences as children of immigrants striving for better opportunities. The challenges we faced growing up—witnessing the disparities in opportunities between different parts of the world—are the same challenges many freelancers still encounter today.
With Sorbet, we’re committed to leveling the playing field by building a modern payment infrastructure that empowers talented individuals, regardless of where they’re from, to thrive in the global marketplace. By working incrementally towards this vision, we believe we can help solve the problem of unequal global opportunities for talent and create a more equitable future for freelancers worldwide.
Thank you for being part of this journey with us. Together, we’re building a platform that not only connects the world but also brings real change.
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