They pretend to pay us, we pretend to work

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The old Soviet joke: "They pretend to pay us, we pretend to work" best captures the corporate world we live in today where employers tend to pay employees just enough to make them show up to work every day but not enough to really care about the work they perform and employees just show up to do a below-par job every day and go home with their supposed "pretend" pay. Nobel Laurette Joe Stiglitz pointed out this occurrence so many years ago in his publication, stating ideally that firms would not want to pay their workers the minimum wage they would accept. The idea behind this statement is that the wage paid to the employee has to be high enough that firing actually hurts. This can be likened to the efficient wage theory in economics. Unfortunately, this isn't usually the case in climes where the rate of unemployment is soaring and survival of the fittest becomes the rule of the game. The need to provide for you and your loved ones tend to make the theory of the efficient wage obsolete. Employers sometimes think this is an opportunity to get cheap labour but what they really sign up for are employees that pretend to work.
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It would seem like in this part of the world employers are not afraid of losing staff as there is so much fish in the unemployment pond. Nigeria's unemployment rate is about 34% of the working class as reported by nigerianstat.com, and even amongst those employed a whopping 40% are underemployed. It makes you think if any actual work happens in the work place as the numbers suggest for a large number of disgruntled employees and even an angrier unemployed populace.

This is the main reason why a lot of the Nigerian youths have turned to other legitimate ways of making money. Blockchain technology and cryptocurrencies have been an escape from the hardship in Nigeria and a means of survival for so many Nigerians. Although in February the Federal government through the Central Bank barred banks from working with cryptocurrencies and promised severe regulatory sanctions to defaulters. This has only heightened the interest of young Nigerians in cryptocurrencies as this ruling looks like another witchhunt on struggling Nigerians.

Hive is one of those platforms that work using blockchain technology that is garnering interest by young Nigerians every day as it helps them survive by performing routine activities (like describing your day) and earning from it. Until the ruling class learn to understand that the world is changing and all these new forms of technology is here for the long haul, we will continue to exist in a dystopic society where they keep pretending to pay us, and we pretend to work.

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