Blockchain and Cryptocurrency Attracts Job Market
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Blockchain and Cryptocurrency Attracts Job Market

Blockchain and Cryptocurrency Attracts Job Market

The cryptocurrency industry and the blockchain industry are getting attraction from the job markets. The news could be a big boon for those seeking jobs in the growing sector. There are tremendous interests, and dedicated services are growing for career services. This was also evident when a leading cryptocurrency news provider, CoinDesk launched the online job postings meant to attract talents. That also suggested that the market could keep growing despite issues concerning about regulations.

Difficult To Find Talents

The marketing director of CoinDesk, Jacob Donnelly, believes that there is no secret that there are difficulties in finding the right kind of talent for blockchain skills. The news portal is especially hosting a career fair and Consensus conference later this month in New York, according to CNBC.com. Though the overall cryptocurrency market witnessed sluggishness in the first quarter, listings for blockchain skills requirement skyrocketed over 6,000 percent in the first three-month period of the current year from the year-ago period. This was revealed by Upwork; a firm focused on online freelancing database. The latest number was a slight change sequentially when blockchain was not on the list at all.

Challenger, Gray and Christmas, VP, Andy Challenger remarked, “There’s an explosion of activity around cryptocurrencies because of that extremely volatile, but extremely exciting, nature of bitcoin. There’s a lot of millionaires made overnight and drawn a lot of people in. There’s sort of a gold rush mentality.” That shows how the blockchain and the cryptocurrency markets are evolving. People are not worried about the impact of the regulatory changes that are taking place currently around the world.

There is a considerable amount of interest shown by different countries in blockchain particularly. Some of the companies have started applying for patents for solutions based on the new age technology. This included JPMorgan Chase, IBM, Amazon.com and Goldman Sachs Group. The financial service providers are particularly eager to take advantage of the technology for its transparency and quickness. Aside from that, it provided decentralization rather than the centralized solution. That is a viewed as a positive sign by different sectors.

Similarly, there is tremendous interest developing for crypto coins. This is after bitcoin grabbed public attention in 2017 for its stupendous performance. The digital coin delivered a whopping 2,000 percent returns last year alone. Not only bitcoin, most of the other digital currencies to witnessed more or less similar kind of returns last year. That allowed a number of startups to raise funds through initial coin offerings (ICOs). Incidentally, virtual currency was the first application as far as blockchain technology is concerned. That is because of elimination of a need for a third-party intermediary.

Rare Commodity

Challenger thinks that the industry needs some amount of expertise. He believes that this is a rare commodity. Therefore, the VP of a private placement firm felt that those who are joining the crypto-start up would bound to do really well after gaining some experience. However, some analysts differ from this thinking and think that there is an element of risk involved in shifting a career to cryptocurrency role especially if a person holds a key position in a big organization.

However, that does not deter anyone from leaving the organizations of government and insurance to work in blockchain related firms. That is because a number of financial institutions are creating their own blockchain teams. Interestingly, no company wants to come out as the first firm with blockchain project though they have a team that is ready to go. Currently, they are sitting on the bench only.

Article written by George Samman

George Samman is a co-author of KPMG’s report: “Consensus: Immutable agreement for the Internet of value”. He is a cryptocurrency and blockchain consultant to financial institutions, policymakers, and professional services firms. To know more about George, follow him on Twitter.