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- Deutsche Bank Predicts Switch from Fiat to Crypto in the Next Decade
- South Korea Plans Imposing Capital Gain Tax of Cryptocurrencies
- Treasury Secretary Mnuchin & Fed Chair Powell: No Plans for National Cryptocurrency
- Thailand's Police Arrested 24 Chinese Citizens Over Bitcoin Call Center Scam
With the ever-increasing adoption of Bitcoin(BTC)trade and other cryptocurrencies, it’s no surprise that there is a soaring demand for professionals in this area. Let’s explore the job growth in crypto-related fields, and attempt to estimate the demand for blockchain talent and crypto experts for the upcoming year.
The website Beseen has published a short report on how Bitcoin, alt-coins, and blockchain have affected the job market. The report analyzes the millions of job posting available on Indeed.com, one of the largest portals for job seekers, and surmises whether the future for talent in crypto and blockchain will be bright or rainy.
Beseen says in the report that ‘Searches for bitcoin, blockchain and cryptocurrency roles are going down—yet employer demand has skyrocketed.’ It further explains that the data available on indeed.com indicates that the demand for these talents or jobs per million has increased by 1,457% in the last four years, between September 2015 and September 2019. However, the growth of searches for these jobs per million has increased by 469%, which seems inadequate compared to real job postings.
In the years 2018-19, the number of crypto-related jobs per million has witnessed an increase of 26%, while the number of crypto-related searches has decreased by 53%. With regard to blockchain, being the engine behind cryptocurrencies, the demand for talent seems to increase and there will be a lot of opportunity for job seekers with the right skills in this industry.
Beseen also specified the top companies that are expanding their crypto teams and hire the most for crypto-related jobs. The top five are Deloitte, IBM, Accenture, Cisco and Collins Aerospace.
The findings of this report correlate with other similar reports about the crypto job market that indicate a significant bump in salaries and a threefold leap in the number of cryptocurrency jobs between 2017 and 2018.
What Drives the Demand for Crypto Jobs
Cryptocurrencies and their underlying technology, blockchain, have been notably increasing in use over the last few years and their adoption seems to be growing significantly. With a rising wide-scale adoption and continuous endeavors to advance, the demand for talent in the field of blockchain development and crypto-related solutions has also been surging accordingly.
This is why tech giants, financial institutes across the world, small and medium-sized companies and even government organizations are adopting blockchain technology and crypto, or at least exploring their use cases. This is certainly driving talent and capital towards the development of this tech which in result increases the demand for jobs in these particular fields.
Just to mention a couple of other big names that are hiring in the areas of blockchain and crypto, Facebook recruits more engineers for its forthcoming cryptocurrency Libra, and the major payment processor Square has introduced a dedicated crypto team, Square Crypto, intending to develop a better Bitcoin-friendly infrastructure.