Digital Assets and Better Jobs

One of the United Nation’s Sustainable Development Goals is the bringing about of Decent Work and Economic Growth. This SDG stems from the fact that there are still millions of people, particularly in developing countries, that work in undesirable conditions. Exploitative work and even forced labor are still harsh realities millions face even in this day and age.

Aside from tackling exploitation and modern-day slavery, one of the aspects of SDG 8 is the creation and nurturing of fields that provide decent jobs that are rewarding and not exploitative in nature. In parts of the world where exploitative work and harsh jobs are common, SDG 8 seeks to bridge the gap between the living standards of developing countries and their developed counterparts.

Hand in hand with providing decent work opportunities, economic growth is also a main aspect of SDG 8. Growing economies, most prevalent in developing countries, often face a degree of stagnation due to reliance on single industries based on natural resources availability. Although natural resources have always been vital to any economy, a new frontier economy is currently on the rise.

Digital assets often face criticism due to its volatility. This is because many digital assets derive their value from market speculation and demand. However, as discussed previously there is also a growing digital asset market that is tied to tangible assets. Tokenization for instance can be an avenue for encouraging sustainable energy development. It can even breach barriers for private ownership of traditionally hard to attain assets.

The digital asset economy has even permeated creative industries, as early 2021’s NFT craze has shown, this frontier economy has near-limitless potential. Bridging the gap between creators and consumers, using blockchain technology, artists have been able to monetize their work in ways unimaginable just a decade ago.

Digital assets and blockchain technology have also become a reliable way of remitting funds between international borders. As have been discussed previously, blockchain technology can facilitate fast and easy direct transfer of funds between two people no matter where they are. Remittance companies that handle fiat currencies have even began adopting blockchain technology to facilitate their fund transfers.

Decent jobs from blockchain technology are not only limited to technical fields such as programming and engineering. It is worth noting that even creative professions can stand to benefit from blockchain technology and the digital economy said technology supports.

Major companies such as ones operating in the video game industry have started adopting blockchain technology for creators. NFTs and the metaverse have brought about higher demand for creators to operate within the digital economy job market. Naturally, this opens new avenues of employment for artists and various creatives to monetize their work.

Going hand in hand with the many products that enable digital asset trading are also various other professions. For instance, digital asset marketplaces would need auditors, researchers and legal counsel in order to operate efficiently. These preexisting professions have seen a rise in demand from companies that are a part of the digital asset economy.

Hence, by plunging into the digital economy and adopting blockchain technology, societies would see the rise in demand for better jobs that cater to the talents of the current generation. This trend would only increase with the wider adoption of digital economy practices.