Governments may be dragging their feet when it comes to cryptocurrencies – and to a lesser extent, blockchain technology – but businesses have seen the proverbial writing on the wall and are looking to snatch up top talent before the market really explodes.
Deloitte’s 2019 Global Blockchain Survey found that now, more than ever, businesses are exploring ways in which they can benefit from blockchain technology.
The survey polled 1,386 senior executives across twelve countries, most of whom said that blockchain has become a “critical priority.”
“53 percent of respondents say that blockchain technology has become a critical priority for their organizations in 2019 – a 10-point increase over last year.”
Indeed.com, a popular American job search engine, recently conducted an analysis of the job posting from October 2018 to September 2019 that were related to Bitcoin, cryptocurrency, and blockchain.
The results found that the top 15 companies with the highest percentage of cryptocurrency-based job postings included major players like EY, Deloitte, IBM, and Accenture, with cryptocurrency firms like Ripple, Kraken, ConsenSys, and Coinbase competing to hire the best talent in the space.
The list also included cryptocurrency firms like Ripple, Kraken, ConsenSys, and Coinbase. Tech job profiles like software engineer, software architect, full stack developer, and front end developer make up the highest percentage of crypto jobs on Indeed. Although developers are high in demand, blockchain technology opens a myriad of opportunities for non-technical roles too.
Demand outweighs supply
According to the study, over the past four years, the number of available crypto and blockchain jobs has increased by 1457%, although the searches per million increased only by 469%.
While the employers continue to push towards the technology, the job seeker demand, based on the study, plunged by 53%.
Crypto market volatility and regulatory uncertainty could be attributed to the reduced demand for jobs in the field. On the contrary, this could also lead to a change in perspective and make people accept crypto.
EY and Deloitte, two of the “Big Four” accounting firms, have been blockchain-friendly.
In April 2018, EY made a multimillion-dollar investment in EY Blockchain Analyzer, a blockchain analytics tool that provides an “in-depth review of cryptocurrency business transactions,” from multiple blockchain ledgers.
Deloitte maintaining its first position does not come as a surprise as the company has actively participated in the blockchain space, offering blockchain solutions, developing products, and integrating the technology with their existing models.
US drifting towards crypto
Recently, the U.S. Federal Reserve posted a job opening for a retail payments manager. with the responsibilities being researching the application of digital currencies in retail payments, “facilitating and contributing to innovations research including digital currencies, stable coins, distributed ledger technologies, and broadly financial/digital innovation in retail payments.” Although the job posting was soon taken down, it was followed by a letter from Rep. French Hill (R-Ark.) and Rep. Bill Foster (D-Ill.), urging the Federal Reserve to consider the creation of US’ own “national currency.”
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