How has the on-demand economy been disrupting different industries?

Instant gratification and convenience have become the new consumer preference norms, and they have been leading to the proliferation of on-demand services. There are various startups which have grown substantially in a very short time span, thanks to customers who want their goods/services  “when they want them.” The US economy alone is adding 22.4 million consumers to the on-demand economy every year. To cater to them and other consumers across the world, 55 million people in the US (nearly 35% of the total workforce) work as freelancers.

Some of the biggest on-demand players today are –

  • Video streaming services – Netflix, Hulu, Amazon Video, HBO Now
  • Ride-sharing services – Uber, Lyft, Gett
  • Food-delivery services – GrubHub, Foodpanda, UberEats, Seamless
  • Freelancing services -Fiverr, Upwork, TaskRabbit
  • E-commerce – Amazon, Walmart, The Home Depot

Apart from creating many jobs in the industry and enabling heightened convenience for consumers, On-demand services have also brought about more effective utilisation of resources such as time, and physical assets like space and vehicles.

While the on-demand economy is disrupting the above-mentioned industries and many more such as healthcare, education and B2B services, one industry that is waiting to be touched by the transformative power of the on-demand economy is Professional consulting. An on-demand professional consulting ecosystem would mean that an information seeker can get accurate information about anything from industry professionals on-demand, instead of spending hours on generic internet searches.

Maester Protocol is developing such a platform which leverages the efficiency gains of Blockchain to bridge the gap between information seekers and industry professionals. It will ensure that consumers get the right information on time and professionals are paid securely and automatically for their time and knowledge. We will share more about Maester Protocol in our upcoming updates. Stay tuned!

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