The CoVid-19 pandemic led to pressures to work from home. Despite the price crash, the crypto economy has some positive examples.
Crypto Startups Already Established Distributed Team Model
For years, the crypto space has operated as a global, interconnected network of opinion leaders and developer teams. Bitcoin (BTC) appeared and spread through a loose forum community, and to this day, no one has met its creator, Satoshi Nakamoto, in person. In the wake of the coronavirus outbreak and companies forcing their staff to stay indoors, “work from home” searches have suddenly exploded on Google, and remote work hashtags showed that regular business was behind the curve.
Over the years, crypto projects cropped up, tapping developer and marketing talent from across the globe. The crypto space turned out into a big work-from-home operation, where remote teams were the norm, rather than the exception.
Even in a bear market, crypto projects continue to operate, offering opportunities for passive income and community engagement.
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Crypto startups have worked on use cases such as time monetization. Other projects already rode the wave, finding solutions for secure file sharing.
— Crypto_wizard Raistilin (@RaistilinCrypto) March 13, 2020
Passive Income, Trading, Gaming, and Distributed Finance All Done Remotely
Whether the coronavirus pandemic will lead to more remote work is anyone’s guess. But the culture of distributed teams is gaining experience and technological solutions every day. All the while, BTC and other crypto coins have long ago broken the borders of payments, where banking systems still lack reach or are prohibitively expensive.
But crypto assets are not all about passive income or thinly veiled Ponzi schemes. Developer teams, if they ever worked in an office, were the first ones to be sent home and continue their productivity. For most open-source, distributed crypto projects, even the biggest ones, a remote team is the norm. Ethereum, a project that is instrumental to the crypto space, has been guided by a remote developer team.
Blockchain is also, in itself, a technology for remote consensus and record-keeping. Added to the open-source ethos, the crypto space has given an example of how the knowledge economy can continue to work remotely.
Exchanges are also showing a model of working at all times, with a distributed team. The recent crypto crash was partly due to the fact that trading and transactions don’t have any time limits, and are open 24/7. Trading is also possible to anyone, and although risky, has created trading opportunities despite geography. Even after the market slide, most exchanges mark significant activity.
What do you think about the latest work-from-home trend? Share your thoughts in the comments section below!
Images via Shutterstock, Twitter: @TheCashChucker, @RaistilinCrypto
Author: Christine Vasileva