Market Wrap: Cryptocurrencies Fall as Sentiment Turns Bearish

TechCrunch

Cryptocurrency payments key to lowering cross-border remittance charges and boosting microwork uptake in Africa, study shows

In the past one decade, a $1 billion jobs market — microwork — has emerged around technologies that split activities into piecemeal tasks to be completed by many people over the internet, mostly using mobile devices. The allure of microwork opportunities has grown to capture the interest of Africa’s youth, who stand to earn up to $7 per day, against a daily urban income rate of $4.35 urban earning average for low-income groups, according to a study conducted in Kenya by Mercy Corps Ventures (MCV), the impact investing arm of global development agency Mercy Corps. Microwork has the potential to create jobs for gig workers of any skill level and boost employment for Africa’s booming youth population, with 10 million to 12 million youth entering the workforce in Africa each year, according to the African Development Bank.