It’s been a big few weeks for cryptocurrency. Bitcoin has shocked everyone by rising even more astronomically than expected, hurtling to almost $17,000 at the moment of writing.
Now that Bitcoin is officially bigger than Jesus, the world of blockchain has been feeling the effects. It’s growing massively in prominence, and there’s a ton of buzz and hype around the technology.
It’s still not quite hit the mainstream, but it’s getting there, with big financial institutions trialing blockchain and even nation states jumping on board.
As a result of all this, it’s really only natural that jobs in the blockchain sector are on the increase. On the popular job seekers’ site Indeed.com, the number of blockchain-related jobs listed has gone up by 207% since last December.
Even more staggeringly, the number is 631% larger than it was in November 2015. In just over two years, the blockchain job market has absolutely exploded.
So what’s driving this insane rise?
Why all these jobs?
There are quite a few reasons why blockchain jobs are on the up, and they mainly boil down to the popularity boost the technology has had in recent months. As people become gradually more aware of the benefits of blockchain, they start to look at ways they could use it to make money.
There’s also been quite a surge in the number of ICOs. April of this year saw $103 million raised by ICOs. In May, that number was $232 million, and in July, an astonishing $574 million.
There’s clearly a big market for blockchain-based tech companies, and therefore a big demand for people who understand blockchain and can help put these big ideas into practice.
And it’s not just ICOs. Big, established institutions like J P Morgan Chase, Deloitte, ESPN, and Philips are also eagerly searching for blockchain whizz-kids to join their ranks. It marks a new effort to branch out and stay up-to-date in a world where blockchain is increasingly relevant.
These companies aren’t just looking for developers and programmers either. There are a whole lot of free desks in the blockchain office, including jobs in management and accounting. There’s also a demand for lawyers who understand the complexities of the ICO and digital space, web designers to build attractive sites, and marketers to spread the message.
Blockchain in the workplace
As well as marking a more positive overall view of blockchain, the moving of the technology into the workplace could also have an impact on how recruitment is managed in general.
Right now, there’s an issue with proving how qualified a candidate is for a job. It’s all too easy to fake a resume, and while high-level fraud is unlikely to go undetected, it’s not exactly uncommon for people to stretch the truth a little when applying for jobs.
Blockchain technology could overcome this problem, by storing this information on an immutable ledger. This would allow for real transparency regarding things like employment history, educational background and qualifications.
In fact, universities are already working on providing blockchain data blocks to help students verify their education history to future employers. Interviewers will be able to access the blockchain and check quickly whether or not their candidate is telling the truth about his or her schooling.
This doesn’t just remove the possibility of fraud; it also makes the process a heck of a lot quicker. No longer will recruiters have to spend hours trying to find the correct information, or confirm that an interviewee is who they say they are on their resume.
It’s not perfect, of course. Employment history will be a bit trickier to prove, and people who have been in the workforce for many years will still have few blockchain records. Over time, though, this could be a huge help for companies looking to recruit new staff.
What does all this mean for the future?
Well, it sure looks like blockchain is starting to cement itself into the economy for real. This wider adoption of the technology suggests that businesses are starting to take it more seriously than before, and perhaps even beginning to see it as an essential part of running a modern company.
For job seekers, it’s also good news. Because blockchain is so new, experience is less relevant than in other jobs, and employers will be happy to provide training and mentorship to new staff.
About 75% of all blockchain jobs involve cross-training employees who are already with the company, so it’s good news for anyone looking for a change in direction. If blockchain continues its upwards journey, expertise in this area will be a valuable skill to have.
We can all agree that blockchain is getting harder and harder to ignore, and is making the shift from the realm of sci-fi to the world of concrete reality.
Considering a job in the blockchain sector? Or is this boom just empty hype? Let us know what you think.