- Shared by CREAM, SMG’s blockchain report deems VeChain to play a significant role in China’s 5-year national development plan, a “solid signal” for VeChain’s vast adoption
- China’s support and promotion of blockchain technology ignited a fiery rise in the number of startups, big companies, and traditional industries expanding their blockchain business
- China’s “talent gap” cannot cope with the rising demand for tech professionals in blockchain-based sectors, but there’s still hope
One of the main driving forces behind VeChain (VET), CREAM, shared China’s largest media and cultural conglomerates in its recent tweet, Shanghai Media Group’s (SMG) report on VeChain, the leading enterprise blockchain platform. The Report deems VeChain to play a significant role in China’s 5-year national development plan.
SMG’s Report: “a solid signal”
SMG’s English TV channel ICS’ Report states blockchain’s “real-world businesses” application and security can bridge the gap between traditional industries and the digital economy. In the upcoming years, the merger will account for 10% of the nation’s GDP, and at the middle of this transformation will be VeChain. SMG has great national support, and their take on the blockchain firm, in CREAM’s words, “is a solid signal” for VeChain’s vast adoption.
Professionals in-demand: “competition is tough”
In China, tech experts know both blockchain and real-world applications are much in demand, says SMG, and touches on how such professionals manage to emerge. Vechain’s team leader, Channer Geng, shared, with public popularity and government listing it as an emerging sector at the end of 2016, the idea of blockchain technology first enthralled him in 2017.
VeChain, for its commercial services’ expansion, wants professionals in blockchain, the internet of things (IoT), and other sector-specific skills like food security and retail. Vechain’s Human Resources Business Partner, Sheldong Zhang observed, following China’s blockchain promotion last year, many firms, including “startups, big companies, and even traditional industries, have been expanding their blockchain business.” Still, there aren’t enough professionals to appease the demand, “so the competition is tough.”
Hope to Cover China’s “talent gap”
Just this year, VeChain recruited 20 new professionals to its team of 80, and plans to triple this number in the upcoming years, which means facing China’s existing “talent gap”; presently, with an estimated 750,000 professionals.
However, enthusiastic responses from fresh IT field batches do give hope. Universities and students foresee a “promising future” in this continually expanding sector, and even the local authorities are supporting blockchain-based projects.
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.