Blockchain technology and cryptocurrencies undoubtedly change the way we view the world. Finance, banking, identity and privacy are areas that are immediately and irrevocably influenced by Blockchain technology. But I also believe that they can be just as disturbing as the automation of our way of working.
Cryptocurrency opens up a world of opportunities for workers
A group of people who may already have realized how potent blockchain technology and cryptocurrency can be are digital nomads. Digital nomads are workers who are not tied to a region. They often travel and can work for several companies at the same time (or are not tied to a company). Simply put, they are a workforce of freelancers living on the street, and I think they are becoming more prevalent because of cryptocurrencies.
One of the reasons I believe it is that when you free the market and make wealth independent and mobile, many of the things that bind a person to a place are gone. This next example is anecdotal, but it was an experience that opened my eyes. When I returned from London to Chicago after completing my master’s degree, it took four days to transfer my money from a UK bank account to my US bank account, and for two of those days, it was not on either account. This experience was incredibly stressful and I wondered how there could be no better way. It was not until I got back to Chicago that I remembered that my Bitcoin and Dogecoin were still in the same place – they were still mine. Plus, I did not have to pay a fee to get her to move with me, and they were never beyond my control. That was a deep realization to me, especially considering that I lost about $ 50 due to fees and exchange rates.
With Cryptocurrency, remote workers can be more secure when they know where their money is and can bring it with them without having to set up new bank accounts. This makes it easier for employers to pay their teleworkers as well. The boundaries are gone, the workers are free to move, and as a result, more people will embrace the digital nomadic lifestyle – especially as many of the most popular travel destinations for digital nomads take a procrypto or crypto-tolerant attitude.
This may be particularly true for younger professionals as they are less likely to have mortgages or other massive geographical obligations. However, I do not believe that it will only be young people. Considering that people want them to do more in life is traveling, and we can see a burgeoning trend in work / travel hybrids. And I’m incredibly excited about this prospect.
Write: Sara Bauer