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- 29% of blockchain developers are currently based in Europe, while 13% are in Asia.
- One million developer jobs related to blockchain might be produced by 2030.
- U.S must foster financial inclusion by maintaining a strong presence in blockchain.
According to a recent study, the proportion of blockchain engineers in the U.S is declining. But the U.S has a chance to overtake other countries as a growth in these positions is anticipated over the next ten years.
Research by venture capital firm Electric Capital, highlighted that the U.S has lost 2% of its market share of blockchain developers annually over the past five years, falling to 29%. It noted that 29% of blockchain developers are currently based in Europe, while 13% are in Asia.
Despite falling cryptocurrency values, 23,343 active open source software engineers, as per Electric Capital, were employed by the end of 2022. According to the analysis, one million new open-source developer jobs related to blockchain might be created by 2030, offering the U.S an opportunity to catch up.
Factors U.S. Must Take Into Account
These are the factors that the U.S must take into consideration:
- Jobs & Financial Impact: As the larger blockchain ecosystem expands, the U.S. can foster financial inclusion by maintaining a strong presence in blockchain software development.
- National Security: In order to reflect American values and national security goals, the United States must influence the creation of new technology and financial products.
- Impact on standards: By creating new protocols, American engineers can determine the norms for monetary and informational systems, influencing the development of the contemporary SWIFT and HTTP. Losing market share gives other nations more sway over international data and financial norms.
In order to preserve its leadership in the quickly evolving blockchain and cryptocurrency space, the U.S must comprehend the regional distribution of blockchain developers.
The United States must modify its strategies and policies to encourage innovation, attract and retain talent, and ensure that its interests are protected in the development of new financial and technological standards in light of the growth of crypto developers in other regions.
Top Blockchain Developers in The U.S.
Developing and maintaining a secure and robust blockchain application is not easy as it requires expertise and experience. There are a number of blockchain development companies in the U.S:
Accenture
Accenture is one of the most sought-after blockchain development companies in the U.S. It provides top-notch solutions for frictionless business operations. Accenture was founded in 1989 in Hamilton, Bermuda. Its staff members are devoted to helping businesses become more efficient, quick, and intelligent.
Its cross-ecosystem knowledge enables the company to provide the best business solutions and services, including blockchain for social impact, infrastructure for financial services, decentralized digital identity, and blockchain-based supply chain solutions.
Appinventiv
One of the most sought-after blockchain development firms in the U.S is Appinventiv. The established powerhouse can give you the chance to learn about the decentralized ecosystem’s expanding possibilities. The company is growing on a global scale because of its extensive industry experience.
Due to its prowess, Appinventiv has established roots in numerous regions around the world, including the U.S, the UAE, Qatar, India, Europe, and the MENA, among others.
IBM
One of the most well-known U.S-based blockchain development companies is IBM. Its products utilize blockchain and distributed ledger technologies to enable secure data exchange and workflow automation.
Consensys
ConsenSys is a top Ethereum software supplier that gives access to the decentralized web and cutting-edge financial infrastructure to developers, companies, and people all over the world to enable them to build sophisticated blockchain applications. Millions of customers use its product suite, which includes Infura, Quorum, Truffle, Codefi, MetaMask, and Diligence, and it handles billions of blockchain-based client requests. ConsenSys is a very reputable and trusted firm in the blockchain industry since it has managed digital assets worth many billions of dollars.
Majority of blockchain developers are located in the US, Europe, and Asia, however India has experienced more steady growth in this field, going from 2% in 2017 to 6% in 2022.
As Europe’s fastest-growing nation, Ukraine saw a 2% increase in its proportion of blockchain developers over the past three years.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
