Due to poverty and stringent economic conditions, hundreds of able Africans seek better employment opportunities in Europe and Asia. However, the high taxes and unfavourable monetary policies of many African countries make home remittance expensive. Migrant workers from the African continent are turning to cryptocurrency to affordably send money home.
Despite the cryptocurrency and blockchain industry being nascent, it is rapidly growing in all terms, including job opportunities. For now, it has employed thousands of people, with the number of vacancies and specializations expected to increase.
The talent acquisition and retention process have always been tedious, expensive, inconveniencing and opaque to job-seekers, employees and employers. However, blockchain’s Distributed Ledger Technology (DLT) features of transparency, urgency, decentralization, immutability and security seems to present a better experience for the industry.
A large number of Ugandan nationals were left crying helplessly after being promised well-paying jobs at a fake cryptocurrency company which abruptly went into rigor mortis with citizens losing over 10 billion Ugandan Shillings (UGX) (approx. $2,715,100).
The world’s giant financial and payment card firms Visa Inc. and MasterCard are trying to form a specialized team of digital asset experts or invest in venture firms, particularly in creating their private wallets. Mastercard Incorporated is seeking for professional blockchain engineers plus many other executives in the employment unit of its official website.
The African continent will provide a fertile ground for blockchain innovation in the future as the technology has been spreading like wildfire with many countries embracing it. Blockchain can progress with unusual rapidity economic empowerment, mitigate fraud, offer safe protocols for entrepreneurs and transform logistics operations.
The Philippines government announced its plans to admit up to 10 blockchain cryptocurrency related companies to operate in the Cagayan economic region, a special economic zone in Cagayan Province, northern Luzon, in the Philippines. This step will allow the Philippines to create new employment opportunities for local citizens and take advantage of tax perks.
Freelancing is one of the most common forms of employment in the modern job market. It attracts both full-time and part-time workers, and the beauty is the choice of working hours. You can, for example, work your 9-5, and in the evenings or weekends for a bit of extra income, work a side-gig. The market at this point is worth $3bn USD, showing a huge space to work out of. However, there are a number of faults in the market. Coinlancer hope to overcome some of these issues.