Over 86% of Web3 professionals are confident in the future of crypto — Consensys

Most Web3 professionals are optimistic about the industry’s future despite the regulatory uncertainty ahead of the 2024 US presidential election.

Over 86% of professionals remain optimistic about the future of the Web3 industry, according to the latest Consensys report.

Percentage of Web3 workforce optimistic about Web3. Source: Consensys

This widespread optimism is primarily attributed to the potential of professionals making a “true difference in the world” via Web3, according to Sarah Howe, executive director of talent acquisition at Consensys.

Howe told Cointelegraph:

“ They are strongly driven by the mission of Blockchain technology and the values behind Web3, which the survey highlights: decentralization, freedom, innovation, transparency and self-sovereignty. The prospect of a Web3 world can be highly inspiring.”

Over 75% of the Web3 workforce remains employed in Web3 thanks to the potential of blockchain technology, which is a promising sign for continued Web3 innovation. Only 33% of workers were in Web3 for the employee benefits.

Web3 workforce, motivation to work in Web3. Source: Consensys

Web3 professionals remain optimistic about the industry’s prospects despite the 2024 US presidential election, which could have far-reaching regulatory implications for crypto worldwide.

Related: Ether poised for price breakout after summer slump in crypto markets

Web3 workforce yearns for more crypto payments

In an ironic twist, most Web3 professionals would prefer to receive more of their salary in cryptocurrency.

While 67% of Web3 professionals are paid solely in fiat, only 10% are paid in crypto. Moreover, only 30% are comfortable with fiat payments, while half prefer a mix of crypto and fiat salaries.

Web3 workforce salary. Source: Consensys

When asked, 51% of respondents preferred a mixture of fiat and crypto, while only 13% were comfortable with purely crypto payments.

Consensys’ survey was conducted by the international data analytics group YouGov, which surveyed 30 Web3 organizations, including the Ethereum Enterprise Alliance, the Blockchain Association and the Texas Blockchain Council.

Related: Leaked Chainalysis video suggests Monero transactions may be traceable

Digital nomad lifestyle is a “natural fit” for Web3 professionals

In line with the decentralized principles of blockchain, the Web3 workforce is predominantly global, with 77% of survey respondents identifying as remote workers and only 6% working on-site.

Web3 workforce by work location type. Source: Consensys

Over 75% of the respondents considered themselves digital nomads, while over 74% said that the ability to work from different countries was important. 

This digital nomad lifestyle is a “natural fit” for Web3 professionals due to the lifestyle’s alignment with the industry’s core values of decentralization and autonomy, explained Howe:

“Web3 workers generally value the independence that a Web3 career brings. Many of them are driven internally by their own ambition to create meaningful change through this career path and are often tired of the typical 9–5 office lifestyle.”

Howe added that the flexible nature of Web3 employment enables a range of new opportunities, such as global job prospects and greater control over employment status.

Web3 workforce breakdown by job type. Source: Consensys

The vast majority, 83% of the survey’s respondents, were full-time Web3 employees, with 13% entrepreneurs and 12% active decentralized autonomous organization members.
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