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What Is Web3? The Future of Web3 and How It Will Affect The Job Market.

Updated on November 7th 2023

February 7th 2023

Ontology Of Value The-Future-of-Web3-and-How-It-Will-Affect-The-Job-Market What Is Web3? The Future of Web3 and How It Will Affect The Job Market IT Job Market Analysis and Predictions
Image generated from Stable Diffusion on February 7th 2023 using the prompt: "people walking into web3 beautiful futuristic picture internet online network red and blue"

This text was fully written by humans.

SUMMARY / KEY TAKEAWAYS

  • The Internet has become the center of our (professional) lives: the destination for discussing with our coworkers, deploying our projects, but also, seeking new career opportunities. But the structure of the Internet is liquid: it is a dynamic marketplace undergoing rapid development.

  • In this article, we address the questions: what does the keyword “web3” mean? How does it differ from “web2” and what can it offer to the users? How will web3 likely influence the recruitment industry and the job market in the long term? 

  • Lastly, we list a few professions that will get popularized in web3. If you are still at school and interested in tech, perhaps it might be a career direction for you!

What Does Web3 Mean, Actually and How Will In Change the World As We Know It?

The Internet has become the center of our (professional) lives: the destination for discussing with our coworkers, deploying our projects, but also, seeking new career opportunities. 

But the structure of the Internet is not steady: it is a dynamic marketplace that is under an ongoing development. According to the common consensus, web3 is the future of the Internet. 

But what does the keyword “web3” even mean? In the most general terms, web3 is a decentralized web architecture that allows users to interact with each other without the need for intermediaries. 

This means that the Internet goes “back to the people:” the users can control their own data and transactions, without the need for centralized organizations like banks or governments, and centralized servers controlled by corporations like Meta or Google.

The decentralized nature of web3 implies far higher security and efficiency than the current, centralized model of the Internet can offer. Using the Internet without intermediaries also has the potential to be much more user-friendly, as users will be able to control their own data and online transactions.

But how is this trustless, decentralized web architecture even possible? The blockchain technology that powers web3, is a secure, tamper-proof way of recording and sharing data. This means that users can trust that the data on the network is accurate and cannot be changed or stolen by anyone and at anytime.

In this article, we introduce the main concepts behind web3, review the ways in which web3 will change our user experience online, as well as speculate how web3 will influence the job market in general, all from new practices in recruitment to the potential new jobs and professions. 

Why Is Web3 Becoming a Hot Topic Nowadays?

“Web3” is indeed one of the hottest topics in tech these days (although ever since ChatGPT came out, many of the “web3 experts” literally have become AI experts overnight…). Part of it is due to the usual suspects: hype, marketing, and the fear of losing out on the next great thing (also known as the FOMO effect).

However, the explosion of interest in web3 also reflects the body of wealth, skill, and passion coming into the crypto industry following a few years of the crypto bull market. 

Venture capital companies have invested more than $27 billion in crypto-related projects in 2021 alone, which is more crypto investment than in the previous ten years combined — and with a large portion of that funding going to web3 initiatives. Twitter and Reddit, the two online heavyweight players, have started experimenting with their individual web3 projects.

This shift in the corporate and venture capital interest toward web3 has become a magnet for IT talent, with many workers of large tech organizations leaving their secure employment to pursue their careers in the brand new world of web3.

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The History of the Developments From Web1 to Web3.

Web 1.0.

Web1 refers to the Internet in the 1990s and early 2000s. It was the Internet of blogs and message boards, as well as the early online platforms such as AOL and CompuServe. The majority of what users did on web1 was passively viewing static web pages, most of which were created using “open protocols” such as HTTP, SMTP, and FTP

Web 2.0.

Web2 was the next era of the Internet. Beginning about 2005, it was dominated by online behemoths such as Facebook, Twitter, and YouTube. In web2 (or Web 2.0, as it was often known at the time), users began generating and uploading their own content, actively engaging in the development of the Internet rather than passively consuming the content.

However, the most of that activity was monetized by large corporations, which maintained the majority, if not all, of the revenue and power to manage the users’ data for themselves.

Web 3.0.

Web3, which combines the accessible infrastructure of web1 with the public engagement of web2, will likely replace these centralized, corporate platforms with open protocols and decentralized, community-powered networks.

The table below summarizes the fundamental differences between Web 1.0, Web 2.0, and Web 3.0.

Ontology Of Value The-Evolution-of-the-World-Wide-Web-www-web1-web2-web3-1024x699 What Is Web3? The Future of Web3 and How It Will Affect The Job Market IT Job Market Analysis and Predictions
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How Will Web3 Change The Approach To Recruiting?

When you think about it, today’s recruitment methods follow a quite simple and conservative approach. Namely, you publish a job advertisement, collect a number of applications, examine resumes (with or without bots involved…), preselect candidates, arrange a round of interviews, and hire. However, when Web3 becomes the new reality, each of these stages might entirely change.

1. Evidence-Based Recruiting in Web3.

Consider how web3 companies find and hire great individuals for their own positions.

While conventional hiring largely depends on job listings, Web3 businesses take a more active approach, scouting employees via LinkedIn or reaching out to prospective candidates via Discord, Twitter, and hackathons. 

Additionally, verifying a candidate’s skill set and employment experience in web3 domain is rather simple. For instance, the top achievers in tech can easily be identified by their activity on GitHub or Twitter, as well as an on-chain history of actions and projects. 

Almost any IT project today is open-source and community-driven — this is why it will be possible for the automated software to find the open-access software contributors and assess their skill and talent by evaluating the snippets of code marked as their individual input to the project.

As Morgan Beller, General Partner at, explains, in web3 recruiting, unlike in the case of traditional resumes, you can’t fudge the facts or hide your lack of skill.

Other Web3 fans have also spoken. Greg Isenberg, CEO of Web3 design firm Late Checkout Studio, for example, tweeted about gaining a job in Web3:

“How it will work. Step 1: You apply for a job. Step 2: It scans the blockchain and rates your set of on chain experiences and credentials. Step 3: If above a certain rating, you’re hired within 60 seconds. No prejudice, no wasted time, no pain — just a quick yes or no. This is a big deal.”

2. The Job Market Will Undergo a Major Transformation.

Decentralized Autonomous Organizations (DAOs) are working collective of independent workers who work on projects on equal terms. Their functioning is enabled by trustless community government systems enabled by blockchains. Because of the rise of the DAOs, many Web3 recruiters regard potential workers as collaborators rather than employees.

Braintrust, for example, pitches itself as the “first decentralized talent network” and is on a mission to democratize the freelance work environment for both corporations and people. Freelancers on Braintrust are not required to contact clients through marketplaces such as Upwork or Fiverr, which take a large portion of the freelance revenue.

Braintrust operates using a decentralized governance model. The organization charges no fees to talent, and charges customers a 10% fee to cover operating costs. Each network user gets tokens for contributing to the network’s growth by taking part in bounties such as recommending Braintrust to talent and bringing new clients to the platform.

If organizations like Braintrust gain traction, a talent using popular, commercial marketplaces may move to connecting with customers through decentralized networks instead — for the benefit of both sides.

3. HR Professionals Will Have Access To “Objectively Validated” Human Resources.

Because employers will be able to access a candidate’s profile and experience immediately through blockchain, they may not have to wait for job seekers to contact them through traditional job postings and go through a traditional application process. 

Given the easy access to the online information, employers will be able to objectively analyze candidates’ abilities and expertise through their web3 profile because outcomes the information stored on the blockchain cannot be manipulated.

This might accelerate and improve the employment process and save time on active scouting, assessment exams, and job interviews. Aleksi Loytynoja, a creator of Web3 talent business Kleoverse, summarized this point in the new edition of the HR Tech GTM podcast as “the capacity to create a profile of objectively validated talent.”

Analysts like Aleksi believe that businesses may use the blockchain’s objective and “trustless” chain of proof as a recruiting tool to locate talent that can be analyzed for job fit in seconds.

4. Proactive Recruiting Will Take Precedence Over Job Sites.

The majority of web3 communities are currently hosted on the Chinese platform Discord, with Web3 creators and supporters debating on social media mostly through Twitter. In a way, in the world of web3, Twitter is like a bar to chit chat and gossip, while Discord is like an office or a hackerspace where projects are actually being built. 

Plus, because coding is a hands-on skill pivotal for web3 contributors, it’s reasonable that web3 companies are more interested in Github profiles than resumes. Occasionally, also the GitCoin profile is taken into account — GitCoin is a blockchain-powered site where you may get paid to work on open source projects.

This is also why as a professional, you should pay more attention than ever to become visible online and skillfully and patiently develop your personal brand through platforms such as LinkedIn. Get yourself noticed by staying active and consistent! For more advice on how to develop your LinkedIn presence, please check our articles:

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The Key Web3 Components / Features.

Web 3.0, or web3, was a term coined in 2006 by the New York Times‘ journalist John Markoff, to describe the next stage of he Internet revolution. Web3 technology will integrate certain technologies and applications. Below, we list a glossary of the key features of web3.

The Semantic Web represents the ultimate phase in the growth of the Internet. The Semantic Web maximizes the ability to create, exchange, and integrate content.

Computers can interpret the data on a conscious level by combining semantic skills with ordinary language analysis, resulting in quicker and more accuracy search results. As a result, they grow more intelligent and better meet the users’ demand.

3D Graphics: Three-dimensional design widely employed in Web 3.0 websites and services, including tourist (for instance, museum) guides, computer games, eCommerce, geographical settings, et cetera.

Connectivity: Because of semantic metadata, information is more densely linked in Web 3.0. As a result, the user experience advances to a new level that takes advantage of all accessible knowledge.

Accessibility: Internet services and information might be accessed at every point through any technology, not just desktops and phones. In many respects, the access to the Internet is already omnipresent, but the proliferation of new Internet of Things (IoT) devices will push the accessibility to new heights.

Blockchain: Blockchain technology protects and encrypts user data. This can effectively stop major corporations from dominating or exploiting consumers’ personal datasets.

Decentralization: To maintain the datasets delayed in a decentralized way, online communication systems enable peer-to-peer data exchange. Users retain control of their data and digital assets and may log in safely and anonymously via the Internet.

Edge Computing: Today, the functioning of the Internet is burdened by high computational cost: complex apps and online environments necessary, for instance, to use a cutting-edge VR technology and build and expand the Metaverse, require high computational cost.

However, web 3.0 also enables the advancement in the edge computing, which means computation and processing data at the user end of the network: on mobile phones, computers, in sensors, and even by smart automobiles.

Socializing in Web3.

As web3 is supposed to rule out big institutional players, the social structure in web3 is becoming more complex. Fediverse is a complete guide into the world of decentralized, autonomous networks. 

Or, in other words, it is a collection of community-owned, ad-free, decentralized, and privacy-centric social networks. A complete map of the social life in web3. Examples of popular networks and platforms included in Fediverse are as follows: Hubzilla, Mastodon, Pleroma, PeerTube.

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The Recruitment Challenges in the Web3 Era.

This progress in recruitment in web3 may appear to be part of the internet’s sunny future that we’ve all been hoping for. However, a sequence of recorded Web3 failures demonstrates that several of the enthusiastic claims concerning Web3 are theoretical at best and completely impractical at worst.

We’ve compiled a list of the major issues associated with the Web3 employment model:

1. Lack of Commitment.

Candidates may work many full-time jobs, reducing their commitment to the success of any particular organization. Team member retention may become more difficult in Web3 as workers are actively recruited and motivated to leave for more appealing projects and renumeration packages. 

Obviously, this phenomenon also occurs in Web2, but owing to the decentralized nature of Web3, employees may find it even simpler to make these moves in the near future. This might pose serious issues especially for early-stage firms that rely on highly devoted and faithful personnel.

2. Blockchain Infrastructure Is Still Not Predictable Nor Fully Accessible.

The Web3 remuneration model, which depends on Bitcoin and other cryptocurrencies as a method payment, may be discriminatory towards job candidates who do not wish to get engaged with cryptocurrencies. 

Moreover, the dollar comparative of cryptocurrencies is highly unstable, and many of the top projects, such as Luna Terra, get bankrupt in a matter of hours. 

The involvement of cryptocurrencies in the labor market may also have an impact on job hunters residing in countries such as Algeria, Bangladesh, China, Egypt, Iraq, Morocco, Nepal, Qatar and Tunisia where using cryptocurrencies is strictly prohibited.

3. Privacy-Related Issues.

Candidates and businesses with strict privacy policies may be hesitant to publish their whole employment history on a blockchain. Furthermore, the anonymity of web3 can make it difficult to deal with identification issues, especially for those from oppressed minorities and social groups.

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Forthcoming Web3 Professions.

There is now a lot of discussion around the future course of Web 3.0. If you’re a tech nerd, you are probably aware of how far the Internet has come since the 1990s. 

What is the source of this progress? People’s faith in the good future coming from technology. As a result, an increasing number of professionals — especially the members of the young generation Z — are considering careers in Web 3.0.

According to some projections, by 2026, 25% of all consumers will spend at least one hour a day in the virtual world for work, marketing, schooling, socializing, or entertainment.

The adoption of blockchain not only allows for building decentralized, trustless protocols, but also opens the door for new business models and ecosystems. As an example, the Decentralized Finance (DeFi) is utilized in a variety of industries, including healthcare, supply chain, gaming, Internet of Things (IoT), digital identity, and banking. This list could go on and on.

Here are four examples of occupations that will likely be in high demand in the Web 3.0 space:

1. Blockchain (Software) Developer.

Because of the technology-driven nature of web3, most of the professions listed here may already exist in tech today. However, they will be modified, or upgraded, in web3. 

A Blockchain software developer creates web apps based on protocols created by web architects and blockchain core developers, in the same way as a web developer creates web applications based on protocols supplied by web architects and web core developers. 

As a blockchain engineer, you’ll almost certainly be working on Ethereum or Bitcoin, two of the world’s major blockchain networks. As part of their work, they design and develop blockchain applications, review them, and use the technology to construct systems or apps that benefit their organization.

Essentially, blockchain software developers build decentralized applications (or, dApps) on top of Blockchain infrastructure using currently available technologies. This is done through the development and implementation of smart contracts on the Blockchain. Solidity and Substrate are two of the basic frameworks required for the job.

2. UI | UX Designer.

Blockchain-based products and services are designed in the same way as any other product. However, there is an issue. Namely, since Blockchain is difficult for most individuals to understand, as a designer, you must apply the KISS method (also known as “Keep it simple, stupid!”). 

Tight communication with developers and users is critical for bringing your product to market. It is necessary to provide a consistent user experience throughout the development process, and eliminate any possible technological complexity obstacles.

3. Community Manager.

Anyone in today’s crypto industry will tell you that the most important factor of success in building decentralized applications (or, dApps) is the community. Therefore, Community Managers are and will remain in great demand, particularly those with experience in the crypto realm and with exposure on social media platforms such as Discord, Reddit, Twitter, and others.

The success as a Community Manager is not only about accumulating followers, blasting out one ad after another, or even responding to the users’ comments. It is also about educating the community members, patrons, investors, and enthusiasts, keeping them up to date on your application, your team’s ideas, the product development, the general sentiment in the market sector, and so on.

In the near future, Community Managers will only gain in relevance. Paid commercials, SEO, and influencers are good for businesses, but at the end of the day, a community spirit and a friend’s endorsement of a product are even more important for businesses.

Of course, the community extends beyond just your Discord channel; it is also your overall brand identity. Influencers, cooperating businesses and individuals all contribute to community-driven innovations. Today, any firm’s fundaments is form relationships.

Please find more information on the job on a Community Manager in our article “Community Manager: The New, Hot Job For Those Who Love People.”

4. Web3 Designer.

Needless to say, there will always be a need for (digital) designers, such as a Digital Product Designer. For businesses, it becomes increasingly important to develop and maintain an impressive digital presence and keep up with the newest standards in this domain.

Without an assistance of a professional, AI-assisted content production can only go so far — while metaverse giants such as Meta promise an almost unlimited desire for creative, well-thought-out, and well-executed designs.

Therefore, designers will play an important role in the growth of Web3. As the internet becomes more decentralized, more small businesses will require designers and will turn to freelancers, agencies, or in-house designers for help.

Please find more information on the job on a Digital Product Designer in our article “Careers in Digital Product Design.”

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Conclusion: The Future of Web3 and How It Will Affect The Job Market.

Web3 will fundamentally change the structure of the Internet as we know it. It will also allow for new, more democratic ways of using the Internet, such as a decentralized web search.

New, decentralized search engines that do not rely on central servers or large tech companies to operate will allow for searching information online more objectively and without putting any money in the pockets of online giants like Google.

Thanks to the new, decentralized marketplaces the online shopping habits can also be improved by enabling users to interact with each other and with applications more directly and securely.

Mind that despite this huge technological progress and maturation of the world wide web, from the perspective of the user of the Internet, not much will change when transitioning from web2 to web3 — at least, not from the frontend perspective.

Web3 will mean more plurality online and a new, more democratic way of governing the data. But other than that, the features and functionalities that the Internet offers will remain similar to the users.

Remember that regardless if you participate in web2 or web3, using Internet is like playing a Nervo game of sorts. You try to (1) Complete your tasks and achieve your goals, (2) Maintain your peace of mind. While the whole rest of the world tries to (1) Possess your time and attention, (2) Frighten you or piss you off. So, you need to brace yourself and be prepared for distractors and multiple pitfalls in your future life online.

However, whatever your professional skills are, the third generation of the Internet will most likely offer some new, exciting opportunities for you. Of course, understanding of the structure of the Internet, the mechanisms behind blockchain, marketing, and the general development in the IT industry will make it easier for you to pave your way in this new world. Please find some more predictions on the future of the job market in times of web3 in Natalia Bielczyk’s lecture “Are we Doomed? AI and Your Job.”

Back in the early 2000s, nobody could have expected that individuals could make for a living solely based on the online jobs, but here we are. Only time will tell what wonders a blockchain-based Internet would bring to us.

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Please cite as:

Siddiqui, H. A., Bielczyk, N. (2023, February 7th). What Is Web3? The Future of Web3 and How It Will Affect The Job Market. Retrieved from https://ontologyofvalue.com/the-future-of-web3-and-how-it-will-affect-the-job-market/

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