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- Binance, one of the largest cryptocurrency exchanges in the world, is not excluded from the discussion. More than 300 slots are available at the burgeoning exchange, but few people are willing to fill them
- In order to fill available positions, several firms have reduced their requirements. According to Neil Dundon, the founder of the staffing company Crypto Recruit
- Finding employees for mining projects has become more difficult than ever, which is one of the main reasons why the values of various cryptocurrencies have fallen. The mining method and labor are directly or indirectly connected to the price of various cryptocurrencies
Companies are battling for the attention of potential workers left and right as they struggle to find enough talent for thousands of vacant job vacancies in the cryptocurrency industry. Binance, one of the largest cryptocurrency exchanges in the world, is not excluded from the discussion. More than 300 slots are available at the burgeoning exchange, but few people are willing to fill them. Worse, exchanges and startups are now competing for access to this talent with financial institutions joining the market. This makes it much more difficult for a new firm to find competent new employees.
Changpeng Zhao spoke with Bloomberg about the situation, claiming that it also affected them. According to CZ, they see the market expanding at an exponential rate year after year, and they need to increase the workforce to keep up. They don’t care where individuals are as long as they get things done.
Due to the coronavirus epidemic, Coinbase likewise moved to a remote-first work style last year. However, they were unwittingly exposed to a new employment market as a result of this. However, even after expanding worldwide, businesses are still having difficulty finding the talent they require. As a result, some businesses have lowered their standards in order to fill open positions. According to Neil Dundon, the founder of the employment firm Crypto Recruit, In terms of experience, one or two years are plenty these days. Companies are casting a broader net since the skills shortage is so severe right now. Many bitcoin companies in this situation have found that hiring remote workers is the solution. They may locate competent employees in different latitudes by expanding their boundaries. This is the path taken by Coingecko, a well-known bitcoin pricing platform. The firm, which is based in Malaysia, has been unable to fill several key positions and is now taking applications from international workers. Coingecko’s CEO, Bobby Ong, stated:
We tried to employ for additional jobs in the last year, but we found it was becoming increasingly difficult to tap into Malaysia’s limited talent pool. The worldwide pandemic has affected the blockchain market just as it has affected any other market. Finding workers for the mining projects has been more difficult than ever, this would be one of the biggest reasons as to why the prices for various cryptocurrencies have gone down, it is directly or indirectly related to the mining procedure and workforce. There has been a shortage in every domain of blockchain firms. Almost every crypto company’s CEO has expressed their crisis situation as they were affected by the pandemic at the manpower levels.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
