The Role of Web3 Technology in Transforming Work (INFOGRAPHIC)


Brian Wallace, Founder & President, NowSourcing

The internet is an invention of constant transformation. In its early days, now called Web 1.0, the internet was a wild west of read-only information. Around the turn of the century, big businesses entered the picture, imposing digital hierarchy and data regulation from above to create Web 2.0. While users benefitted from the structure and organization, they lost the sense of collective ownership that the early internet had to offer. As we move into the next generation of the internet, Web 3.0, thousands of developers are contributing to open-source projects. Public blockchains, decentralized applications, and tokenized communities are empowering individuals to embrace new technology and work opportunities. 

As the digital world changes, so does the work people do on it. Because the internet is more accessible today, more jobs take place (at least partially) in the online world. New digital roles like stack developer and data scientist have seen demand triple in 2021. Because the skills necessary to pursue these jobs are scarce, those capable of doing them receive high compensation packages.

In the wider labor market, modern technology is encouraging a shift to independent work. In 2021, many independent jobs generated more revenue than wage and salary workers. People who work independently have more control over their career, from the projects they take on to their hours of operation. 2 in 3 people considered quitting their jobs in 2021 because of greater opportunities they saw out there. 90 million people may be self-employed by 2028.

Even for those who didn’t become their boss, Web3 developments have changed the way they do work. More and more companies are moving away from the 9-5 and allowing flexible schedules to flourish. The number of digital nomads (people who can work their job from any location) continues to rise, having reached 15.5 million in 2021. 

Technology opens doors in the labor market, but it also means job security is no longer guaranteed in many industries. This can be distressing for some because half the permanent workers in the United States get health insurance from their place of employment. Not to fear; independent employment benefits are on the rise. Health, dental, and vision insurance can be found on the open market for up to 50% less than state premiums. While changes borne of technology can cause anxiety, solutions are quick to follow problems that arise from new innovations in work.


Web 3, Sovereignty, and the Future of Work

Brian WallaceAbout the Author: Brian Wallace is the Founder and President of NowSourcing, an industry leading infographic design agency in Louisville, KY and Cincinnati, OH which works with companies ranging from startups to Fortune 500s. Brian runs #LinkedInLocal events, hosts the Next Action Podcast, and has been named a Google Small Business Adviser for 2016-present. Follow Brian Wallace on LinkedIn as well as Twitter.