Growing demand for blockchain talent despite crypto price falls

October 19, 2018
Chris Wheal

A study produced by recruiting site Glassdoor has found that crypto- and blockchain-related job opportunities increased significantly this year – particularly in the US.

Growth in blockchain jobs despite losses for crypto prices

Growth in such opportunities have come in spite of the drop in cryptocurrency prices since the second quarter this year as companies ramp up their investment in blockchain research and applications.

As blockchain has evolved from a niche technology, serving only transactions on cryptocurrency networks, into a market with potentially hundreds of applications worth hundreds of billions of dollars, employers are becoming ever-more devoted to exploring the technology.

Blockchain job openings

In its study entitled The Rise of Bitcoin and Blockchain: A Growing Demand for Talent, Glassdoor found that – as of August 2018 – there were 1,775 unique blockchain-related job openings in the US.

By comparison, at the same time in 2017 there were a mere 446 similar job listings. This represents a 300% year-on-year increase in blockchain job openings in the US.

This surge in job openings has outpaced the 200% increase in cryptocurrency values since August 2017, and despite the 74% decline in the total market capitalisation of the crypto sector since January, jobs growth has continued.

Main job locations

In the US, the majority of blockchain-related jobs were focused in the financial and tech capitals of New York and San Francisco respectively. Together they represent nearly half of blockchain jobs at 24% and 21% respectively.

Internationally, it was a similar story with much of the jobs investment focused in the major financial and technology hubs.

London leads with a 16% share of the market, while Singapore and Toronto rank joint second on 7%. Hong Kong has a 6% share while Berlin has 4%, but the market is very diverse, with 60% of the share spread around the rest of the world.

Who’s hiring and for what

In the list of the biggest employers of blockchain-related staff are many financial services groups and crypto exchanges, but the two biggest hirers were ConsenSys and IBM, both with a 12% share of the market.

Roles advertised in the sector were largely for software engineers, which claimed a 19% share. Product managers and analyst relations managers, along with technology architects came next with between 5% and 3% of the market.

Post written by Chris Wheal
Chris Wheal is editor of OpenLedger's news and features service. An award-wining business journalists himself, he runs a team of freelance journalists from across the UK and north America.

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