A new report summarizing the latest data on the cryptocurrency and blockchain job market suggests that higher institutional adoption has led to greater demand for expertise in the sector.
According to the employment website Indeed – quoted Thursday in the Korea IT Times – the total share of crypto and blockchain job postings on the platform has increased 118% from mid-July 2021 compared to early September 2020.
That solid growth was also accompanied by a shift in the roles sought, with the share of management positions in crypto and blockchain increasing 29.87% year-on-year from July 16. Personnel accounts increased 200% over the same period, while software development jobs decreased to 29.7% of all crypto and blockchain posts, compared to 34.8% last year. All data on the role distribution allegedly comes from the crypto trading simulator Crypto Parrot.
As the Korea IT Times notes, blockchain-related roles tend to have a higher salary range than other technology positions because, among other things, they require in-depth knowledge of cryptography combined with expertise in ledger economics and object-oriented programming. While crypto and blockchain – even DeFi – have steadily gained prominence in educational institutions, the report claims that many developers in the industry remain largely self-taught, suggesting that universities and programs are lagging behind.
The report goes on to claim that reliance on teleworkers during the pandemic could prove to be good for an industry that values decentralization and encourages core developers and researchers to work with multiple partners and employers on different projects.
Related: Important job postings from the crypto space in 2021
While the report does not include data on the proportion of employers in the public and private sectors seeking crypto talent, everyone from the Israeli intelligence agency Mossad to the Bank of England has advertised related positions this year.
In the private sector, asset management firm Fidelity Investments’ crypto arm is reportedly planning to grow its workforce by 70%, JP Morgan has started accepting applications for blockchain-focused software developers, and Amazon has been looking for someone to manage its digital currency and Blockchain strategy and product roadmap amid unconfirmed claims that the mega-retailer will accept payments using Bitcoin (BTC) by 2022.