The CEO of Blockchain Challenge Inc explains why tech can be a tool to fight COVID-19 recession

This is an excerpt of an article originally
by the Observer Research Foundation

Work will be exactly what it is right now as the ‘future’ has already made its way to our present realities. It is then important to know how to address one of the most prevailing obstacles of our ‘new now’ — building trust within our cyber-relationships (mostly focusing on daily transactions and remote working).

Perhaps blockchain will have the answer. Humans produce data every single day, and there have long been debates about its ownership. Web 3.0 may now be providing a rough path towards the democratisation of data, and thus providing the road to build trustable and traceable transactions.

Thus, by leveraging technology under the context of COVID-19, we might be able to build a protocol based on blockchain and Web 3.0 through which global connectivity and the gig economy will strive for new standards.

We know the world is heading towards an economic recession. We, therefore, need to try to make our new cyber reality as akin to real life as possible. This translates into having digital economies that want to be like the very jobs we used to have.

We need to make the gig economy a dignified one, as it will certainly embrace the future of work, if not be the basis of it. Bureaucracy will decrease, demand (and offer) will be much more agile and perhaps even with a larger sense of urgency. Competition will thus be redefined, and some former competitors may become allies to survive in a certain field of industry. Talent shall be revalued in terms of experience and diversity to truly achieve innovation.

The ‘workplace’ will no longer be an actual place. It will be our homes, or any location we want it to be, as long as internet connectivity is available. The gig economy will own predominant concepts such as freedom and autonomy, with connectivity as its basis. Instead of just seeing COVID-19 as a pandemic, we should think of it as a catalyst that turned the ‘future’ of work into the ‘now’.