The enterprise
future of work

Blockchain network for IT workforce and services

Existing network

1+ Million
verified IT experts
Workforce
200+
Enterprises and large SME
Clients
6'000
Reputable IT Suppliers
Staffing

About Servicebit

IT services budget of just one global enterprise (indicative)
Total IT services
100%
1.5
bln USD
External
70%
1.0
bln USD
Internal
30%
~0.5
bln USD
Staffing
35%
Our existing business with proven market fit (www.it-suppliers.com)
0.5
bln USD
  • - thousands of niche IT projects
  • - faster contract decisions
  • - project budget 0.1-10.0 mln USD
  • - duration 3-36 months
Outsourcing
35%
Potential growth area
0.5
bln USD
  • - dozen bigger IT projects
  • - years in decision making
  • - budget 10+ mln USD
  • - duration 3-5 years
x250
just in Europe
Every large company is a separate market for thousands of small and mid-sized IT suppliers
1.6 trln USD
Global IT workforce and services market (Gartner)
Servicebit is about bigger and longer projects for global enterprise clients
Gigs
days
<100 USD
Freelance
up to 6 months
thousands
Staffing
6 – 24 months
millions

Features

Business
  • Cheaper and more efficient sourcing of workforce
  • Improved trust in profiles and better traceability
  • Smart contracts reduce back-office cost by 90%
Workforce
  • Earlier payments with no fees
  • Better project fit — no irrelevant requests
  • Monetize own profile
  • Better contracting experience through back-office automation
Network
  • Token logic to foster positive community interaction
  • Increase in volume/revenue partly due to decrease in fees
  • Enterprise customers and SMEs increase share of external workforce
  • #1 position to drive further AI adoption for IT

Token growth

For illustration purposes only, and should not be regarded as an investment advice or investment recommendation.

You are here
SRVB introduction
“Pay for work” in SRVB becomes popular

Private capital raising

0.25 USD

Q2-Q3 2019

Public Token Sale

0.5 USD

4Q 2019

Servicebit Network launched for the existing users of IT-Suppliers.com

2 USD

2020

First major Enterprise pilots generate circa 1 bln USD turnover in SRVB tokens

10+ USD

2021

10+ large Enterprise clients pay fees and for workforce in SRVB
= 5 bln$ turnover /
max 500 mln SRVB

Pay for information
Business
  • Rewarded for using platform, projects volume and quality (less cancelled projects — lower fees)
  • Incentivised for internal of IT integration with Servicebit (project and HR management)
  • Rewarded for project verification and references
Workforce
  • Sign-up bonus for joining the network
  • Incentivized to verify own reputation or projects history
  • Micro-bonuses for consistently high reputation
  • Get paid for providing feedback, testing products, etc.
Pay for Servicebit
Business

Pay for premium services
(no platform fee)

Workforce

Pay project fee 2-3%
and for premium services

Pay for work
Business

Pay for services in tokens
or fiat (with discount provided
certain token balance)

Workforce

Receive payments in fiat
or tokens (faster, no bank fees)

Team

Marc Carletti
Enterprise Clients Advisor
Ex-CEO of BT and SIX, focus on digital transformation, growth strategies, banking cyber-security and online strategies. MBA in Information Technology.
Igor Putrenko
Founder, Business Development and Operations
Successful serial entrepreneur, focusing on IT, Supply Chain and Professional Services. Over 20+ years of the relevant industry experience. MSc in Computer Science.
Valérie de Montmollin
Workforce legal and administration
Entrepreneur and renowned expert with over 25 years of experience in outstaffing, payrolling, recruiting process outsourcing. Secures the legal and financial aspects for all workforce and clients.
Pavel Volichenko
Product and Business Development
Tech entrepreneur with VC/PE investment management background. Since 2014 invested in and developed two Swiss startups in online travel and computer graphics. MSc in Applied Mathematics.
Sascha Theisen
PR and communications
Successful PR and marketing professional. Many years of the relevant experience in Europe, including founding and running own Marketing and Communication company Stammplatz.
Dmitry Volakh
IT development
Software development lead with over 20 years of experience. Managed 100+ people external development teams, which is crucial for building Servicebit.
Kirill Bondarev
dApps and smart contracts
Senior full-stack and smart contracts developer with enterprise expertise. Blockchain focus since 2015. Professionally developing with Solidity and other frameworks.
Nuno Silva
Software architect and engineering team lead
Senior blockchain infrastructure and dApps software architect with years of hands-on development and team management expertise. Coordinates in-house and distributed development teams.

Advisors

Anton Altement
Co-founder and CEO of Polybius
Seasoned banking executive turned entrepreneur. Anton is a co-founder and CEO of Polybius, the project building a financial ecosystem bridging traditional and token economy. Previously, Anton was a Director at Credit Suisse. He spent 10 years in a range of investment banking roles in London and Zurich.
Philipp Kallerhoff
Crypto investment leader and data scientists
Hedge fund and technology entrepreneur who co-founded the first crypto investment vehicle in Canada in 2013. Founded and successfully executed his own VC backed technology startup.
Urs Landolf
President of HSG Alumni, industry opinion leader and expert
One of key PwC partners in Switzerland for over 30 years. Currently counsel at Wenger & Vieli law firm. President of the HSG Alumni Association, one of the largest and most active alumni networks in Europe.
Bosse Rothe
Crypto-assets expert
Bosse is an entrepreneur, quant and experienced trader on crypto-assets. Helped successfully scale a machine learning startup, worked at Earlybird Venture Capital, now runs a crypto- fund Protos Management.
Paolo Volpicelli
Sourcing, Procurement and Staffing Business Leader and expert
Former Chief Procurement Officer of Avaloq and Adecco — leading worldwide staffing company. Vast experience in Supply Chain area focusing on IT and Workforce / Professional Services.

Jobs

Community manager (Workforce)
Together with product-development and sales teams, Workforce Community Manager will be key in developing relations with IT experts and suppliers on Servicebit. Role assumes travelling globally for meetings and conferences.
Junior developer with enterprise experience
Junior blockchain developer to join our dev team, with focus on Solidity smart contracts on Ethereum. Experience with its private enterprise versions (especially Hyperledger and Quorum), as well as prior contributions to Ethereum community are a strong plus.

FAQ

Servicebit is a decentralized network enabling the Enterprise Future of Work, with sole focus on IT projects and skills. It matches and supports interaction between IT workforce and service-providers and global enterprises and larger SMEs, who engage external IT workforce.

Servicebit Network is a project of IT-Suppliers.com, an IT workforce marketplace based in Zurich, Switzerland founded in 2014.

Unlike freelance platforms (Upwork) or gig sites (Fiverr), Servicebit is used by global companies to source external workforce for bigger and longer projects, and only in IT.

Average freelance project is sponsored by an SME that posts 1-5 projects a year, where each project has duration 3-6 months and budget below USD 50’000.

Servicebit provides workforce and IT suppliers access to enterprise-caliber IT projects with duration 6-36 months and USD 0.1-5.0 mln budget. Unlike smaller SMEs, Servicebit enterprise clients sponsor thousands of external IT projects every year.

ENTERPRISE CLIENTS:

  • Less expensive and more efficient sourcing of workforce
  • Improved trust in profiles and better traceability
  • Smart contracts reduce back-office cost by 90%

WORKFORCE:

  • Earlier payments with no fees
  • Better project fit - no irrelevant requests
  • Possibility to monetize own profile
  • Better contracting experience through back-office automation

COMMUNITY:

  • Token logic to foster positive community interaction
  • Increase in volume/revenue partly due to decrease in fees
  • Enterprise customers and SMEs increase share of external workforce

When launched, Servicebit services will cost approximately 10 times lower than what has been paid traditionally by enterprises for external IT talent search.

The key feature of Servicebit network is that communication happens directly between workforce/supplier and the client. The direct nature of the network-based marketplace (i.e. disintermediation), as well as further back-office automation will allow to drop commission (payable by the client, not workforce) x10 compared to existing fees cumulatively payable by the client/employer - from existing 15-25% to 2-2.5% of a contract volume.

The following innovation and workflows would not be possible without blockchain:

  • Verifiable profiles: trust in reputation and track record - audited by actual clients and community. Confirmed projects history: community verified projects history – audited by project owners
  • Transferrable reputation and data: 100% ownership and unrestricted transfer of own reputation and history
  • Digital automated paperwork: smart-contracts driven approval of work, reconciliation, invoicing and payments in crypto or fiat. Up to 90% efficiency gain for back office via smart contracts

On high-level Servicebit Network infrastructure is designed to be blockchain-agnostic. Initially it is planned to run on a public blockchain (e.g. Ethereum Plasma), but we also envisage integrations with private blockchains of large corporate clients (enterprise versions of Hyperledger or Quorum).

A token concept is one of instrumental innovations in blockchain-based business models. In Servicebit ecosystem the SRVB token plays dual utility and payment roles:

Utility function: SRVB tokens give access to Servicebit network and all its functions (this applies to both Workforce and Businesses/Clients). The tokens are also used to reward positive community interactions. In addition to that, any token balance generated as part of community incentive programmes can also be used for payments on the Servicebit network.

Payment function: SRVB tokens are used as internal payment currency on Servicebit network for the following transactions:

  • pay for information: any community member can earn / spend SRVB in relation to his / her profile, e.g. IT expert may pay ex-client to provide additional feedback on a project in the past, or a Business / Client may pay Workforce community members
  • pay for work: our aim is to achieve strong natural demand for SRVB as means of payment for work (i.e. Workforce and IT services). The key reasons why large enterprise Clients will use SRVB (and not BTC, ETH and fiat currencies) are (1) the combination of smart contract-based back office automation, which is a part of Servicebit solution, and (2) compliance and cyber security considerations.

Information about future SRVB token issue, sale and subsequent admission on decentralized exchanges will be published later. The token has not been issued. Please contact us to obtain more information.

SRVB token will be fixed-supply hybrid utility/payment token based on Ethereum ERC-20 smart contract. Considering this and the SRVB supply/demand cycle, as well as fixed supply of tokens, the single most important factor influencing the token price is the turnover on Servicebit network. This is a total money volume that all workforce and IT suppliers receive from clients they found on Servicebit.

We estimate that the project turnover on Servicebit may reach 1 bln USD in 2020, and further multiple in the years to come. As explanation, 1 mln USD turnover represents only 2 (two) midsized global company using Servicebit to source and administer external IT workforce for most of their projects. Such opportunity is supported by existing conversations with some larger customers, which have shown interest in a blockchain-based network and smart contract back-office automation. Importantly they indicate clear interest to use the marketplace network for all of their external IT.