At first glance it seems obvious: remote work, Bitcoin and Web3 are related to the Internet. Even those who don’t even know or fully understand what Web3 is will come to this conclusion. But there is more than meets the eye when it comes to what connects these concepts.
Bitcoin inaugurates this concept of Web3 (although before Bitcoin there was already talk of Web 3.0, the Semantic Web; the differences and concordances between the two, is by itself a topic for another text), which is both a physical medium and a network. virtual, that unites interests inside and outside the Internet, that unites people in the name of a technology and its possible consequences. It is also a network without a central point, without an “admin”, that is, without a person or a group that has the power to decide on the destiny of the network.
There is an incentive in the Bitcoin network for everyone to collaborate without relying on trust between members. Regardless of the nature of those involved, both malicious and well-intentioned want and dedicate their efforts to the proper functioning of the network. No one wants value and functionality to be compromised (see Byzantine Generals Problem).
At the company I work for, Bitwage, not only do we always work remotely (once a year we have a face-to-face meeting somewhere in the world, but none of the team members live close to each other), but our clients are also in their most remote workers. Programmers, designers, translators and all kinds of professionals who use the Internet to carry out their tasks. As a result of the recent pandemic, everyone has experienced the internet work environment. Naturally, many concluded that it was better to keep this form, and the virtual contingent only increased.
Pay, as well as tasks, are critical parts of the remote work relationship.
Therefore, as more people are empowered to work online, an efficient, more robust and scalable payment network becomes more necessary. This allows people in different corners of the planet to receive their amounts on time. Traditional payment systems have their necks tied to the banks involved. The traditional SWIFT network is made up of “corresponding banks”, that is, one bank has to have an account in another and this in another until it finds the recipient’s bank, and it is completely insufficient to meet this new type of demand.
This is where the most secure and accurate confirmation network comes into play: the Bitcoin network.
Imitating its operation – in the form of “blockchain” networks – stablecoins were created. There are stablecoins that have their value equal to national currencies, whose performance and volatility are expected and tolerated. This makes it possible to settle payments between parties in different corners of the world with a single blockchain confirmation. It is the form of currency that is most popular among people outside the bubble. In Argentina, for example, there are people who are afraid of Bitcoin, they don’t even want to hear about cryptocurrencies but they do use stablecoins, known as “Digital Dollars”.
The exchange houses, which abound in the capital of the country, already accept them mostly. And it is the preferred way to receive fees from professionals who work abroad.
And before saying that it is only in Argentina, let’s stop a bit to think: What will the young people who enter the labor market prefer each year? Having to spend time with the whole ritual of getting ready to get to the office and get to work, or being able to start immediately on your favorite sofa, being able to choose your environment, your rest intervals, your food, limit interrupting your colleagues?
Disclaimer: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
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