Empowering Communities: How Cryptocurrencies are Revolutionizing Freelancing and Regional Economies

According to the speaker, the driving force behind development is not technological hype, but a genuine need. He pointed out that the growth of the industry is fueled by communities that have been excluded from the global financial system, which are moving directly to decentralized alternatives.

*“Look at the streets of Lagos, the markets of Manila, the barrios of Buenos Aires, and yes, the freelancers from sanctioned Russia. The fastest growth in Web3 is not happening in boardrooms,”* said Youssef.

The CEO of NoOnes emphasized that the frontrunners in adopting technology are Southeast Asia, sub-Saharan Africa, Latin America, and certain parts of Eastern Europe. The reasons are financial isolation and the devaluation of national currencies, necessitating tangible solutions.

Youssef provided specific examples of the implementation of Web3 tools in various regions:

*“The key drivers are not technology for technology’s sake, but economic realities, community resilience, and local ingenuity. These regions possess a significant asset that the West often overlooks—human entrepreneurial spirit,”* the head of NoOnes stressed.

South Africa’s state energy company Eskom is grappling with a drop in electricity sales and a massive debt of $22.7 billion. CEO André de Ruyter described the situation as a «structural decline.»

NEW: Eskom, South Africa’s state electricity provider, is considering Bitcoin mining to address its increasing debt and falling electricity demand.

With a debt of R403 billion ($22.8 billion) and declining sales, Eskom intends to utilize excess energy for Bitcoin mining to generate revenue and create jobs. pic.twitter.com/3XtnMVIWWq

Eskom plans to repurpose surplus capacity for energy-intensive sectors, such as data centers for artificial intelligence and Bitcoin mining.

The company is looking at the experiences in the U.S., where miners enter into agreements with power grids to reduce consumption during peak hours. For instance, Texas-based company Riot Platforms received $32 million for voluntarily shutting down their operations during periods of extreme heat.

Eskom’s plans sharply contrast with the current circumstances. The company struggles to provide consistent electricity supply and is heavily relying on expensive diesel generators to prevent rolling blackouts. So far in this fiscal year, over $245 million has already been spent on diesel fuel.

Previously, Ethiopian authorities announced that the electricity demand from cryptocurrency mining data centers in the country would reach 30% of the nation’s total consumption by 2025. In response, the government decided to increase energy tariffs for businesses by 400% by 2028.

While South Africa works on its energy challenges, stablecoin issuer Tether signed a memorandum of understanding with the Zanzibar e-Government Authority. The goal is to promote crypto education and financial innovations.

Tether will assist in organizing educational programs on blockchain, Bitcoin, and P2P technologies. The company will also explore the integration of stablecoins USDT and XAUT into the government’s payment gateway, Zanmalipo.

*“This partnership reflects our commitment to financial literacy and innovation in Africa. We are laying the groundwork for a scalable and inclusive digital economy,”* noted Tether’s CEO Paolo Ardoino.

Zanzibar authorities believe that collaborating with Tether will help integrate digital assets into the country’s economy.

Meanwhile, Africa is becoming a hub for outsourcing business processes due to low labor costs, a young English-speaking workforce, and government support. The sector in the region is expected to grow by 14% annually, nearly double the global rate.

Youssef believes that the true value in Web3 is created by people, despite the automation brought by smart contracts and DAOs. It’s about building trust, understanding local contexts, and applying emotional intelligence.

He cited examples of decentralized networks of physical infrastructure. Protocols may operate on code, but installing antennas, maintaining equipment, or mapping routes requires human involvement. This applies similarly to tokenized real assets—without human participation, it is impossible to verify the object and its documents.

In Youssef’s view, the role of people has become critical in Russia. In the context of sanctions and restrictions, a new class of “Web3 freelancers,” P2P liquidity brokers, and underground educators has emerged.

*“Payments in stablecoins for cross-border work still heavily rely on trust between individuals, often coordinated through Telegram groups, local over-the-counter markets, or P2P platforms. When traditional rails are blocked, it is the people—not protocols—that sustain the system,”* he explained.

The head of NoOnes added that *“a smart contract can’t explain Bitcoin to a grandmother in rural Ethiopia, resolve a conflict in a DAO, or build trust in a local market.”* For that purpose, community leaders, validators, and educators are necessary.

*“We must create technologies not to replace people, but to empower them. Code can scale systems, but only people can build trust, resolve conflicts, and foster culture,”* concluded Youssef.