- Cryptocurrencies are constantly becoming more mainstream.
- With the changing landscape of work and workers, financial systems also need to evolve.
- Cryptocrrencies have a lot to offer workers in this new age, but they still have some hurdles to face before they become the norm.Since 2018, cryptocurrencies are no longer operating just on the fringes of the financial system.Digital currencies have made significant inroads at traditional financial institutions so much that many banks already offer Bitcoin investment options. Several prominent retailers, including Starbucks, Whole Foods, and Nordstrom, are already accepting Bitcoin at checkout. More importantly for the future of the currency, global regulatory oversight has matured since Bitcoin and other cryptocurrencies burst on the scene a few years ago.
With cryptocurrencies becoming more mainstream all the time, it only makes sense for them to be affecting other elements of the financial system, which is exactly what we are starting to see in the significant sector of employee wages.
While it’s true that right now those receiving their salaries in crypto are an oddity, this won’t be so in the long run.
The way we view work is changing
There is a shift happening in the very way work and compensation are viewed in the world today. Rather than working traditional 9-5 jobs, many employees, particularly younger ones, are joining the gig economy, choosing to be their own bosses and work for short-term, temporary contracts for everything from freelance work to driving an Uber.
In the U.S. alone, 57 million people participate in the gig economy, where transfers and transaction costs are the norm. This is a landscape in need of secure, fast, and cheap solutions that will improve participants’ lives significantly.
Currently there are many pain points and regularly occurring annoyances in the market.
For example, 58% of freelancers have experienced not getting paid for their work, an issue that can be easily solved with the usage of smart contracts—a blockchain-based technology that enforces contracts without the need of a third party.
posted by f.sheikh
Monthly Archives: July 2019
The Perils of Empire-America’s Future-By Tick Atkinson
Empires are hard to build and even harder to keep intact. No sooner does an empire congeal than centrifugal forces — overreach, complacency, strategic miscalculation and enemies, foreign and domestic — threaten to tug it apart.
As we celebrate our 243rd Independence Day, and the resultant American empire that would come to dominate the modern world, it’s worth considering the 18th-century British Empire against which we rebelled in a bleak and bloody eight-year war. We have become more like that Anglo imperium than perhaps we suspect, and we face some of the same head winds that caused so much grief for King George III and his nation.
Several dynastic coalition wars against European adversaries had ended indecisively before Britain’s wildly successful triumph in 1763 over France and Spain in the Seven Years’ War, called the French and Indian War in America. Britain massed firepower in her blue-water fleet and organized enough maritime mobility to transport assault troops vast distances, capturing strongholds from Quebec and Havana to Manila in what London also called the Great War for the Empire. “Our bells are worn threadbare with ringing for victory,” one happy Briton reported.
[Receive the next Opinions Essay in your inbox]
Spoils under the Treaty of Paris were among the greatest ever won by force of arms, including Canada, a half-billion fertile acres west of the Appalachians, various sugar islands in the West Indies, Florida and parts of India. Britain emerged from the war with the most powerful navy in history and the world’s largest mercantile fleet, some 8,000 vessels. She cowed her rivals and so dominated Europe’s trade with Asia, Africa and North America that by 1773, the writer George Macartney could celebrate “this vast empire on which the sun never sets.”
Britain was ascendant, with its own mighty revolutions — agrarian and industrial — underway. A majority of all European growth in the first half of the 18th century had occurred in England, a proportion that would increase with the arrival of the steam engine, patented in 1769, and the spinning jenny a year later. Canals were cut, roads built, highwaymen hanged, coal mined, iron forged. Sheep would double in weight during the century; calf weights tripled. “I felt a completion of happiness,” the Scottish diarist James Boswell wrote. “I just sat and hugged myself in my own mind.”
Hubris, the disease of victory, also set in. Britain viewed the new empire as an affirmation of her virtues — tenacity and martial prowess among them — as well as the fountainhead of national wealth and power. Colonies existed to provide raw materials for the mother country and to buy her finished products, not to find their own way in the world or to extend prosperity to the masses.
But Britain had emerged from the Great War for the Empire deeply in debt. Interest payments devoured half of the government’s yearly tax revenue. Britons were among Europe’s most heavily taxed citizens, paying excise fees on items from soap and salt to male servants and racehorses that might exceed 25 percent of an item’s value.
It seemed only fair that colonists should help shoulder the burden: a typical American, by Treasury Board calculations, paid no more than sixpence a year in Crown taxes, one-fiftieth of the average Englishman’s payment, even as Americans benefited from eradication of the French and Spanish threats and the Royal Navy’s protection of North American trade.
Top Ten Universities In Asia-By Mike Colagrassi
Some of the world’s most prestigious universities aren’t in America.
- China’s Tsinghua and Peking University are on par with Harvard and MIT.
- These 10 universities consistently shuffle around for top tier status in Asian college rankings.
- Universities in Japan, Singapore, South Korea, and China have churned out dozens of Nobel Laureates and other renowned figures.Asia possesses some of the most cutting-edge and finest universities in the world. While we’re all accustomed to the powerhouse and traditional American and U.K.-based universities, in the past 100 years Asia has seen a surge of growth.
Leading the way in terms of advanced future research, while also partnering with established university systems around the world — Asia has become a destination for some of the world’s best and brightest.
Tsinghua University is one of the most prestigious institutions in China. Leading a rigorous multidisciplinary system for the past three decades, it has gone through many iterations and changes since its creation in 1911.
Known as one of the most elite schools in China, and referred to some as the “MIT of China,” the school prides itself on its strength in engineering and the sciences. Admitted students must have excellent scores on their national exams. Tsinghua consistently ranks in the top 30 of The World University Rankings.