- As the need for bitcoin and blockchain expertise has grown, new data reveals that the kind of employment being advertised have changed over time
- According to a new survey, increased institutional adoption has led to stronger demand for knowledge in the area
- As compared to early September 2020, the overall share of crypto and blockchain job postings on the marketplace has climbed by 118 percent
Not only has there been a rise in demand for bitcoin and blockchain skills, but new data reveals that the kind of jobs being advertised has altered over time. A new analysis based on the most recent statistics on the cryptocurrency and blockchain employment market claims that increased institutional adoption has resulted in increased demand for expertise in the area. According to the employment website Indeed, which was published Thursday in Korea IT Times, the overall share of crypto and blockchain job posts on the platform had increased by 118 percent from early September 2020 to mid-July 2021.
Crypto Trading has completely changed the job role allocation
This strong growth has coincided with a shift in the kind of jobs being sought, with the share of managerial positions in crypto and blockchain up 29.87 percent year over year as of July 16. Over the same time period, human resource positions have increased by 200 percent, while software development roles have decreased to 29.7% of all crypto and blockchain positions, down from 34.8 percent the previous year. The crypto trading simulator Crypto Parrot is said to have provided complete data on role allocation.
According to the Korea IT Times, blockchain-related jobs pay more than other IT jobs since they require a good understanding of encryption as well as experience in ledger economics and object-oriented programming, among other things. While crypto and blockchain, as well as DeFi, have steadily gained acceptance in educational institutions, the survey claims that many developers in the field are mostly self-taught, implying that universities and programs are underperforming.
Remote employees are now getting preference for business
According to the paper, relying on remote employees during the pandemic could be a good fit for a business that values decentralization, enabling core developers and researchers to collaborate with a variety of partners and employers on various projects.
While the report does not provide data on the share of public and private sector employers seeking crypto talent, this year has seen everyone from Israeli intelligence agency Mossad to the Bank of England advertise related roles.
In the private sector, Fidelity Investments’ crypto arm has reportedly planned to increase its workforce by 70%, JP Morgan has started accepting applications for blockchain-focused software developers, and Amazon has been looking for someone to lead its digital currency and blockchain strategy and product roadmap amid unconfirmed reports that the mega-retailer will accept bitcoin.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.