In January 2023 alone U.S based tech companies laid off approximately 58.000 employees. Comparing it to 2022 massive lay offs of 140.000, it seems gargantuan. It is related to weak performance of tech industry, and the burst of tech stocks bubble.
One branch which is widely recognized as being associated with the technology industry is Crypto titans and countless mining companies either halted their operations or filed for bankruptcy. But the industry lives, and grows day by day to regain its former power.
Most of the laid off workers were associated with so called
What is web 2.0?
describes the current state of the internet, which has more user-generated content and usability for end-users compared to its earlier incarnation, . In general, refers to the 21st-century Internet applications that have transformed the digital era in the aftermath of the dotcom bubble" ~ explained by investopedia.com.
Direct proposed successor to , which would replace its predecessor, fixing its errors and be even stronger and easier to use would be
What is web 3.0?
"Web 3.0, also known as Web3, is the third generation of the World Wide Web. Web 3.0 is meant to be decentralized, open to everyone (with a bottom-up design), and built on top of blockchain technologies and developments in the Semantic Web, which describes the web as a network of meaningfully linked data." ~ explained by avast.com.
So what are the differences?
The first and most important in my opinion is the approach to the user. In , every user was treated collectively, wants to empower every single user. Second is decentralization, powered by distributed LEDGER technology, it improves on fairness, security and reliability of the system. Third most viral but also important is ownership of content. In it is hard to ensure individual users ownership of content due to its nature. And fourth, speed and ease of use. is designed from scratch to offer easier design and more user-friendly application.
So how is the transformation of technology sector affecting Web3 and Crypto?
58.000 specialists looking for work is a lot if u ask me. Some may seek for work in other branches, some will work for competition. But most importantly, a lot of these people will rethink their current situation and look for alternatives which may provide them more stable and lucrative future. It is possible that in year 2023 and 2024 we will see a huge expansion and growth of , fueled by large inflow of new, open minded people, ready to build something better.
I'm not a financial advisor, none of information in this article should be considered a financial advice.Its only my thoughts and opinions I wanted to share with this wonderful community.
