With the number of gig workers predicted to increase by 88% in 2023, the intrusion of freelancing technology will change how companies interact with freelancers. In most cases, freelancers (77%) say that tech has made it easier to find work.

Similarly, blockchain technology is predicted to aid freelancers by eliminating platforms that have historically helped with processing payments, promoting services, etc. Web 3.0 is expected to revolutionize the following:

Getting paid quickly: Cryptocurrencies and digital assets will eliminate the complexities of international payments. Moreover, transactions can also be made in the form of NFTs and avoid paying commission fees. As a result, payroll processes could no longer rely on third parties like banks to process employee payments thus giving employers and HR departments control over pace, agility, and flexibility. A talent pool characterized by greater flexibility and agility will be needed to meet these demands.

Reduce platform dependency and monetize content: Freelancers no longer need to depend on centralized apps like Instagram and Facebook to monetize their content. They can now use intermediary-free apps like Mirror and Bitcloud instead.

Decentralization of traditional networks can be achieved through blockchain technology, which enables people to connect directly without the involvement of third parties. In addition to disrupting whole industries, this eliminates record manipulation and lowers fraud risks.

A blockchain-based Web 3.0 will also enhance the authenticity of the freelancer hiring process. For example, data loss or hacker attacks can occur on the platforms freelancers use to promote their portfolio and services. It’s also possible to be permanently banned if disputes arise with buyers. In such cases, freelancers may be at a loss on how to showcase performance and career exploits.

Blockchain technology allows companies and freelancers to avoid these risks easily. The technology facilitates the creation of an immutable and verifiable track record for freelancers and businesses, and independent workers do not risk losing their hard-earned career record this way. Furthermore, companies don’t expose their capital to freelancers whose reviews and CVs are fabricated.

Worklife in Web 3.0 is still finding itself. For now, no one can even confirm what Web 3.0 will look like or whether the technological drivers we talk about here will be the foundation Web 3.0 rests on. However, if our predictions come true, a web based on AR, VR, Semantic Web and AI could definitely offer a more trustworthy and flexible web than Web 2.0.