The latest episode of Desk Talk, hosted by YC Song and Eunice Añada of 13Desk.news, brought together leading experts to explore the unique challenges of working in the Web3 industry. This thought-provoking session featured insights from Don, Founder of Talent Bridge, and Derrick Leong, Head of Legal and Compliance at IX Swap. YC also acted as a representative from 13Desk and a key speaker. Together, they tackled some of the most pressing issues facing professionals in this rapidly evolving sector.
Web3: Opportunities and Challenges in Employment
Opening the discussion, the speakers highlighted how Web3’s global and remote-first approach to employment has reshaped traditional models. However, this growth has not been without challenges, as companies and employees face hurdles related to compliance with local labor laws, the legality of crypto-based compensation, abrupt company closures, and recurring payment issues. The panelists delved into these complex topics, drawing on their experiences and industry expertise to offer valuable insights.
The State of the Web3 Job Market
The speakers explored the state of the Web3 job market and shared personal stories about transitioning from Web2 to Web3. They discussed the advantages and disadvantages of working in a decentralized industry, from the flexibility it offers to the risks it entails. One key issue addressed was the rising trend of crypto-based salaries, where employees often receive payment in USDT or similar digital currencies without traditional benefits like pensions, insurance, or medical coverage. The panel also analyzed whether Web3 companies are legally obligated to provide such benefits and how these practices align with local labor laws.
Navigating Legal Complexities in Web3
Legal challenges were another focal point, as the speakers examined the implications of offshore company registrations and local hires. They discussed the enforceability of employment contracts in a decentralized industry and the potential for employees to seek recourse through labor associations or civil lawsuits. The high costs and complexities of pursuing legal action against Web3 companies were highlighted as significant barriers.
Identifying Red Flags in Web3 Companies
One of the most engaging moments came when YC shared firsthand experiences in identifying red flags within the industry. These included abrupt company closures, inconsistent payment practices, and a lack of transparency in employment terms. The panelists provided practical advice for navigating these risks, emphasizing the importance of thorough due diligence and the need for clear, enforceable contracts. They also suggested alternative approaches to Web3 employment, including hybrid compensation models and strategic legal planning.
Actionable Insights and Key Takeaways
Concluding the discussion, each speaker summarized their key takeaways, stressing the importance of education and awareness for anyone entering the Web3 job market. They also introduced their respective products and services, highlighting their contributions to improving the Web3 ecosystem.
Desk Talk maintains its status as a vital platform for exploring critical issues in the blockchain and Web3 space, offering actionable insights and fostering dialogue among industry leaders.
Watch the full episode here:
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