Due to a massive surge in cryptocurrency related businesses, the job sector is seeing a massive increase in requirements for skilled and able individuals with a specialism in crypto and blockchain. So much so that dedicated market career services are popping up, offering tailor-made solutions to the sector.
CoinDesk, one of the leading cryptocurrency news sites has even launched a dedicated online “Career Center” with industry job listings.
It is no big secret that the demand for blockchain skills is high and that finding the right talent is hard and CoinDesk will also be holding a career fair in New York, later this year.
Listings of blockchain related jobs have risen over 6000% in the first quarter of 2018 when compared to the same period last year, so much so that it has even become the most sought-after skill on freelancing database, Upwork.
“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,” said Andy Challenger, vice president at placement firm Challenger, Gray and Christmas. “There’s sort of a gold rush mentality.”
Last year, Bitcoin fever gripped the world and the price of one coin shot up by 2000% to over $19000 in just 12 months. The cryptocurrency was the first application of blockchain technology and it completely eliminates the need for a third-party intermediary such as a bank by allowing permanent and secure transaction records. Since its launch, a growing number of startups and corporations are exploring the ways in which blockchain technology can be used in a whole range of areas from voting to energy distribution management.
Last year, tech giants Accenture, IBM and Microsoft stated that half of their global revenues came from services related to blockchain and they noted that the industry was set to grow to be work tens of billions.
Shaun Eyal, an analyst at Oppenheimer stated:
“As the technology matures, we think those blockchain engineers will see absolutely high demand, Right now it’s a little bit of a wild, Wild West with many entrepreneurs trying to jockey for position.”
Many believe that taking a risk at this stage could pay off big time in the long run.
“If you enter the crypto start-up space and gain some experience in the underlying blockchain technology, it will serve you really well,” Challenger said. “It’s an industry that requires a certain amount of expertise, and that’s a rare commodity.”
The crypto market is still small with a total market capitalisation of the average S&P 500 company, but things are on the up. Many individuals are leaving the government and insurance sectors to work in blockchain and many leading financial institutions are building their own blockchain teams.
To know more about ICO legislation in Malta please follow this link.