Cryptocurrency and other technologies that rely on blockchain technology are hot right now. Despite the market maintaining a bearish sentiment, especially compared to last December’s crypto-frenzy, many institutions are gearing up to make moves within the space. In preparation for the next big wave, companies with the budget are hiring to fill many blockchain-related jobs which span across multiple divisions.
Blockchain Programmers are Particularly Sought After
Early on, most blockchain programmers worked on projects as a hobby and mostly on a part-time basis. Nowadays, the demand for blockchain programmers are incredible, with the demand for competent programmers far outweighing the supply. But it doesn’t stop at blockchain programmers. As companies prepare for the next wave, companies are hiring to fill marketing, legal, public relations, network security and audits, web design, user-interface, and many more. This surge of demand for block-chain related jobs shows no sign of slowdown as ICOs have raised $6.3 billion between January to August of 2018.
Hong Kong’s Immigration Policy Now Favors Blockchain Professionals
The Hong Kong government fully recognizes the widespread adoption of cryptocurrencies and blockchain technology, and understands the probability is high that blockchain technology and digital assets are here to stay.
As such, Hong Kong has recently updated their Quality Migrant Admission Scheme, a Scheme designed to attract professionals and experts in their fields to “enhance Hong Kong’s economic competitiveness.” It now includes blockchain among the 11 professions eligible to receive bonus marks for the application. Hong Kong’s decision makes sense, considering blockchain is the fastest growing skill of 2017 and 2018, according to Upwork.
Asia Exhibits Noticeable Growth in Blockchain Interest
While we can see a surge in demand for blockchain-related roles around the world, it is most noticeable in Asia. According to recruitment firm Robert Walters, there was a 50% increase in the number of blockchain-related roles in Asia since 2017. They revealed that developers skilled in Python are prime candidates and are the most highly sought after. Job search engine Indeed relates the same story: interest in blockchain related jobs is rising.
It should be noted that the supply of skilled blockchain workers far exceeds the demand within this booming industry. This is due to the fact that blockchain as a whole is still a relatively young industry, and many companies entering the space are coming from mature industries that have little to no experience in blockchain technology.
2018 has seen massive amounts of capital flowing into blockchain-based projects. This influx of capital is applying great pressure on projects to over-deliver. Since the current pool of experienced blockchain candidates is limited, the best option for these projects is to acquire and train skilled workers form other industries in order to bring their projects to the next level. In the end, companies will need to improvise and work with what they can get, and remember that “good” often is “good enough”.