Gig Economy

Definition ∞ The gig economy is a labor market system characterized by short-term contracts or freelance work, rather than permanent jobs. Individuals perform specific tasks or projects for various clients, often through online platforms. This model offers flexibility for workers and access to on-demand services for businesses. It represents a shift from traditional employment structures.
Context ∞ The gig economy holds relevance for understanding digital assets as blockchain technology offers new mechanisms for payment and contract execution. Decentralized platforms could streamline payments and verify work history for gig workers globally, bypassing traditional financial intermediaries. Discussions consider how crypto payments could offer faster, cheaper transactions for cross-border freelance work, influencing its expansion and accessibility.