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Millennials Challenge Workplace Standards with Blockchain Technology

Millennials are known as being a unique demographic, especially when it comes to the workforce. Many of them have different standards than their parents and grandparents, which makes it challenging for human resource departments to attract them. A significant deciding factor for millennials when choosing a new job is the position’s ability to promote change through promoting corporate responsibility. According to a report by PWC, titled “Millennials at Work Reshaing the Workplace,” over 50 percent of millennials would take a job cut for position that aligns with their values.

Blockchain enterprises seem to recognize millennials’ needs. According to Vlad Dobrynin of Humans.net, a blockchain enterprise, “In search of self-fulfillment and new opportunities to make money, millennials turn to online job platforms. However, these are quite far from guaranteeing a fast and, above all, a successful search for work . . . the aim is to create a resource bank for people and businesses without middlemen and fees – transforming the way we live, work and relate to one another in the blockchain era.”

These days, blockchain and cryptocurrency platforms are enacting what are called “bounty campaigns,” which provide for new standards and ethics in a decentralized system. Bounty campaigns allow for outsourcing of tasks, the workforce is cheaper than a traditional one, and the risks are limited in terms of regulation and bureaucracy.

The next question that arises is whether freelancing is an option for millennials in the new system as well. It may be a prime option, especially in light of the finding that millennials tend to prefer a “life-first attitude” instead of a “work-filled life.” A freelance career allows for work-life balance, flexibility, and more control over the funds they earn. Further, freelancers tend to be more versatile in terms of the skills that they learn and apply, which make them a prime option for new opportunities

However, this does not necessarily mean that freelancing is not without its project. Many of the projects are available only on limited platforms that change high fees for users to participate. Further, freelancing isn’t always consistent on every project, making it challenging for freelancers to continue and to maintain a steady line of work. Another problem are scams – there is a lack of regulatory protection in the industry, which can be dangerous not only for the freelancer, but also for the client.

Many are turning to distributed leger technology as a means to change the system. The technology is already being used to generate a more ethical workplace. And many are seeing that it may help freelancing projects and millennials’ needs and expectations as well. The technology may be able to promote factors such as trust, it may reduce costs, enhance creativity, and enhance working conditions for millennials and situations for clients. At the end of the day, only time will tell as to whether this will be an actual option in the future that millennials can implement into their job search, freelance career, and beyond.

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