The Future of Work: How Smart Contracts and Web3 Will Revolutionize Freelancing

Paul Malin
4 min readMar 20, 2023

This article was generated by CHATGPT4 and it’s actually solid. I read through it and added an epilogue.

The gig economy has exploded in recent years, with more and more people choosing to work as freelancers and remote workers. However, the traditional systems of payment and contract management used in the freelance world have not kept up with this growth. Enter smart contracts and Web3, technologies that will revolutionize the way we work.

Smart contracts are self-executing digital contracts that automatically enforce the terms of an agreement between two or more parties. They are built on blockchain technology, which allows for transparency, immutability, and security. Web3, or the decentralized web, is a new version of the internet that enables peer-to-peer interactions without intermediaries.

Together, these technologies are creating a more efficient, secure, and decentralized future of work for freelancers and remote workers. Here are some of the benefits of smart contracts and Web3 for the freelance industry:

1. Faster Payments: One of the biggest pain points for freelancers is getting paid on time. With smart contracts, payments are automatically triggered when certain conditions are met, such as the completion of a task or the delivery of a project. This eliminates the need for invoicing and reduces the risk of payment delays or disputes.

2. Increased Trust: Smart contracts are transparent and immutable, meaning that all parties can see the terms of the agreement and the transactions that take place. This creates a higher level of trust between freelancers and clients, as both parties can be assured that the terms of the contract will be upheld.

3. Decentralized Management: Web3 enables decentralized management of contracts and payments, removing the need for intermediaries such as banks or payment processors. This reduces costs and increases efficiency, as transactions can be processed more quickly and securely.

4. Enhanced Security: Smart contracts are secured by blockchain technology, which is virtually impossible to hack or manipulate. This provides an extra layer of security for freelancers, who can be assured that their contracts and payments are safe from fraud or theft.

5. Access to Global Markets: Web3 enables freelancers to work with clients from all over the world without the need for a middleman. This opens up new markets and opportunities for freelancers, who can now work with clients in countries where traditional payment and contract systems may not be available.

6. Increased Flexibility: Smart contracts can be programmed to include a range of conditions and contingencies, such as late fees or incentives for early completion. This gives freelancers and clients more flexibility to customize their contracts to fit their specific needs.

In conclusion, smart contracts and Web3 are changing the way we work, making the freelance industry more efficient, secure, and decentralized. By leveraging these technologies, freelancers and remote workers can benefit from faster payments, increased trust, enhanced security, and access to global markets. As the gig economy continues to grow, smart contracts and Web3 are poised to play an increasingly important role in the future of work.

Epilogue

This will revolutionize the future of work because smart contracts make money programmable. As smart contracts become ubiquitous in labor and services transactions, buyers and sellers will be able to edit and upgrade these smart contracts to make them more expressive. Here’s an example of how an API, push notifications system, and contract sequencing could be deployed to make freelance workers programmable. To make people “part” of the software. Let’s say you wanted to have technical documents translated into Chinese. You could create a smart contract that pinged GitHub to see if any new technical documents had been posted. When a technical document appeared, the smart contract could request funds and post itself to work platforms. It could also send push notifications to translators that had subscribed to it. Once the translation was submitted, the smart contract could trigger a second smart contract to pay for proofreaders. And so on. What’s happening here is a program is being written that leverages human freelance labor at various stages.

I happen to think this is wild and game-changing.

At Cambrian Protocol, we’ve built a no-code composer so that freelancers can generate their own personal smart contracts to use whenever they work. The contract costs less than $1 to run on Arbitrum. It currently offers escrow, arbitration, IPFS storage, a chat window, nearly infinitely flexible payment and distribution options, and more. Now you don’t have to give 20% of your money to platforms like Upwork.

If this kind of stuff interests you, connect with us on Discord.

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Paul Malin

I’m a BD working on an AI<>Web3 project focused on the future of work - www.cambrianprotocol.com