Mining for Moonbit

December 18, 2017

Jeff Tennery, CEO and Founder of freelancing platform Moonlighting, joins Cheddar to discuss the site's first initial coin offering coming next year. The cryptocurrency will be called "Moonbit" and the company hopes it will help millions of freelancers and entrepreneurs achieve their work-independence globally.

Tennery talks about entering the cryptocurrency space when the market is so volatile. He says Moonlighting is mainly using it for the benefit of international exchanges. Right now, people who do business on the site with someone overseas has to pay an exchange rate fee. He hopes using this system of "Moonbit" will eliminate that fee and allow freelancers to make more money.

Plus, he expects that major companies such as Apple and Amazon are quietly working on a system to pay designers and other employees in cryptocurrency. He says it could be a way companies use to pay salaries in the future.

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