Can Blockchain fight Unemployment?

Employment is a vital source of happiness. Besides being a steady source of income it provides stability, confidence, and a sense of purpose to an individual. Sadly employment has become a privilege not enjoyed by many. Nations such as South Africa, Egypt, and Spain are grappling with the issue of unemployment. Unemployment is often attributed to factors such as low economic growth, political instability, unskilled human capital, and weak demand. However, there are many underlying factors in various geographies that contribute to unemployment and results in wastage of a valuable commodity i.e knowledge.

In South Asian countries like India, Bangladesh, and Pakistan, many women enroll in STEM (Science, Technology, Engineering, and Math) courses. They perform quite well academically, sometimes even better than their male counterparts. Still, a majority of them give up on their dreams and professional aspirations due to societal pressure. Many do not take up a job after studies and the ones who do often leave their jobs after marriage. The minuscule proportion of women who do continue working, quit when they get pregnant. Women who resume work after maternity leave have huge bouts of guilt of not spending enough time with the child in his formative years. Unavailability of flexible working hours and daycare facilities in companies often discourage women from continuing their employment after motherhood.

It is a rare feat to find a woman in top-tier positions such as a CTO or a CEO. Even in a developed nation like the USA, approximately 43% of women pick raising a family over a job. In 2016, about 2 million American parents had to quit their job or accept lower paying jobs as they couldn’t find adequate child care facilities for their children.

Another steadfastly ignored elephant in the room is underemployment. The reasons for underemployment can be numerous such as unavailability of jobs, underpaying entry-level jobs in particular fields, and financial constraints such as paying off the student loan. Thus students often take up jobs that are unrelated to their college degrees A mathematician may choose to work as an admin professional to pay off his student loan. It is not uncommon to see brilliant minds at jobs aren’t related to the education they had received. Though some consider underemployment better than unemployment, both are equally detrimental to the economy.

One cannot talk about employment and overlook the desire of seniors to be productive and financially independent even after retirement. The average retirement age in the USA is 63. Seniors at that age still have the knowledge and zeal that makes them suitable for employment. However, they may not be able to work full time or there may not be many employment opportunities available for them locally. Traveling to another city or country is an option less chosen by the seniors.

There are some people who are unable to work despite being young, able-bodied, and educated due to political instability in their country. Political upheaval in countries like Brazil, Ghana, Syria, and Egypt has caused mass unemployment over the years. The condition of unrest and security issues make it difficult for the workforce to sustain a regular job. The adverse conditions may or may not prevail for a longer duration, however, their negative impact is tremendous and can adversely affect an individual’s career.

The common thread of skill and hope binds all these people together regardless of their age, gender, and location. On the surface, it seems like opportunities are few and there are many hurdles in procuring a respectable steady source of income but that is not the case. As the traditional job roles are steadily being outdated, there are multiple options for people who don’t fit in the conventional employment genre. The culture of freelancing and consulting is on the rise. The world is turning into an active global community. Millenials are keen to expand the horizon of learning beyond borders. People around the world are experimenting with unconventional sources of livelihood.

Take Sehat Kahani for example. It is a Karachi based tech startup that is helping female doctors of Pakistan to return to the medical workforce through teleconferencing. Advocations is another startup that is making employment a reality for the disabled. Their motto is to transform “not” “able” into notable.

The efforts of these startups are commendable, however, the need of the hour is a global solution that helps all professionals regardless of their situation and location. Technology is the only global solution that can empower people with employment. The new age careers like Youtubers, Instagram Influencers, Social Media Marketers are some professions that can be pursued remotely or at flexible hours. Several individuals are now a part of the gig economy and are quite successful.

Digitization has also paved way for consultation to be a mainstream occupation. Consultancy was earlier limited to professionals such as developers, business and management consultants however recently several professionals like lawyers, healthcare professionals, and financial advisors have started consultation services.

These consultations are usually carried out on a platform that involves a third party which acts as a payment authenticating and processing authority. Users search for a consultant from the database and contact them. Payment is usually taken in advance before the consultation. Platforms that do not support advance payment put experts at a risk of underpayment or not being paid at all. Experts also lose out on lots of business networking opportunities as they are unable to utilize their existing connections in a traditional consulting scenario. Other drawbacks of this system are huge processing fees deducted by the third party and lack of transparency in consultations. Often there aren’t any procedures for a refund if the user is not satisfied with the consultation provided.

Blockchain technology can make online consultation more feasible and efficient. It can eliminate third party interference which takes out a major chunk of profit. The age of disruption in consultation has begun with the advent of Experty.

Experty is a skype like app which allows voice and video calls for monetized consultation and knowledge exchange. Experty allows monetization of skills and expertise with flexible hours and instant payments. Experty was featured in the Forbes list “Keep An Eye On These Blockchain Startups Throughout 2018” and “The Top Initial Coin Offerings to Watch in 2018” by Inc.

Experty is a completely decentralized hassle-free platform. With very little setup experts and advice seekers are able to contact each other. Before making a call, the user is able to see the per minute consultation rate and availability of the expert for consulting. If a call is made, the charge is deducted per minute from the user and paid instantly to the expert through a smart contract. The complete process is efficient, economical, and transparent. Experty is built on the concept of fair communication. None of the parties involved are at a risk of fraud, underpayment or extra charge.

Experty envisions a world where knowledge exchange of any kind will be a profitable occupation. With Experty, anyone residing anywhere in the world will be able to make a living by exchanging knowledge within the privacy of their home on their own terms and conditions. Experty aims to enable women, seniors, retired professionals, freelancers, developers, and all experts an entry into the mainstream with the help of calls powered by cryptocurrency. Experty will empower people to achieve work-life balance without compromising on career and personal life.

Originally Published on Experty's Medium Channel
https://medium.com/@experty_io/can-blockchain-fight-unemployment-66de56ca28b