Sri Lanka Economic Challenges Could Be Addressed with Crypto, Fintech, Web3 Innovation

I’ve visited many different countries during the past few years. Sri Lanka is one of my favorite places because it’s quite beautiful and scenic but struggles economically. To address this, the nation’s residents could begin to work in the freelance world. As a freelancer, you need not rely on local factors to complete work. You can also get paid in stablecoins such as USDC or USDT or even Bitcoin (BTC) and Ethereum (ETH). As a Web3 freelance specialist, you can also do pretty much whatever you want while getting paid via innovative Fintech Apps such as Payoneer as well if you wish.

Youngsters in Sri Lanka Can Launch Web3 Careers as Freelancers

I’m not here to talk about something too abstract because that’s not very practical for loyal readers. I’ve been to Sri Lanka because my flexible work schedule allows me to travel for months throughout the year because I can literally work from anywhere at any given time. So let’s back to the original question: How can Sri Lanka benefit from Fintech and Crypto? For starters, they can start accepting crypto payments. If you are a small business owner, you may be frustrated with a lot of chargebacks. Did you know that crypto transactions are not reversible so they are pretty much final. This can be a good thing or bad thing. But on the positive note, once you receive payment as a business, you can be rest assured that the funds will stay in your account.

It’s worth noting that Web3 is no longer simply an abstract concept with not much foundation in reality. Although somewhat silly concepts like the Metaverse or even NFTs are a bit on the speculative side with very little actual users, some ideas from Web3 are actually quite useful. For instance, blockchain-based payments apps are really catching on. They tend to be more efficient than some of the other traditional financial service providers. When using some Web2 type apps like Payoneer, you can expect to pay way too much in transaction costs and other surprise fees. Even PayPal, another product of Web2, tends to charge a bit too much for moving money.

Freelance Digital Content Creation Can Be Financially Rewarding

In addition to crypto transactions, you can pick up a job as a freelance content creator focused on the Web3 space. And for all of you youngsters out there in places like Sri Lanka, I know you all can be quick learners. So put that brain to work and start creating engaging digital content. This will help you to monetize your tasks and get compensated for it. Finally, we no longer live in a world that’s restricted due to geographical boundaries. We can truly tap into the globalized economy and work and get paid instantly. 

The whole world is literally now at our fingertips. As young workers in Sri Lanka begin to realize the benefits of working online as a freelancer in the web3 space, they can truly begin to carve out their future career path. Get in touch with us here at the Web3 and Fintech Foundation for more guidance.