As the young cryptocurrency industry begins to mature, there are a few significant trends beginning to form. While the most notable trend of late is the transition of major Wall Street financial institutions, including Morgan Stanley (MS) and Goldman Sachs (GS), into the crypto markets, an additional trend has emerged that perhaps says more about the overall health of the industry.
In a recent report published by Upwork, job listings with blockchain skills as a requirement have surged more than 6,000% since the first quarter of 2017. In the report, Upwork claims that blockchain is on pace to be the new “Cloud” of the 21st Century given that 92% of business leaders view blockchain as an opportunity and job growth has exceeded 2,000% for each of the last three quarters.
Here’s Upwork’s full analysis:
Blockchain (#1) appears to be the next uncharted, highly talked about technology similar to what the “cloud” was back in the mid-2000’s. Its growth exceeded 2,000% for three quarters in a row on Upwork.com, and in Q1 it experienced more than 6,000% year-over-year growth, making it the fastest-growing skill out of more than 5,000 skills on the site.
The initial hype has evolved into enterprises taking blockchain seriously; major companies such as Samsung and IBM are already leveraging it in innovative ways, while Salesforce ($CRM) is planning on unveiling a blockchain offering for its customers during Dreamforce in September.
A recent survey by SAP ($SAP) found that 92% of business leaders view blockchain as an opportunity; the World Economic Forum just released a toolkit to help executives better understand whether blockchain is an appropriate and helpful tool for their business needs, and as more executives try to navigate this technology, there is soaring demand for talented experts familiar with it who can help demystify it and explore potential uses.
Gartner forecasts the business value-add of blockchain to exceed $3.1 trillion by 2030, indicating that it shows promise in terms of utility for business and is a technology that’s here to stay.
Building on that report, CNBC recently cited a number of analyst assessments on the growing blockchain hiring trend, including one from Andy Challenger, vice president at placement firm Challenger, Gray and Christmas:
“If you enter the crypto start-up space and gain some experience in the underlying blockchain technology, it will serve you really well. It’s an industry that requires a certain amount of expertise, and that’s a rare commodity.”
While finding talent with blockchain experience has been a bit of a crapshoot in the past, where companies relied largely on social platforms like Reddit or even word of mouth, there are now a number of groups building dedicated platforms. Most recently, CoinDesk, the popular crypto media outlet, announced the launch of an online “Career Center” with job listings.
Sticking with the freelancer theme, there are also companies like Dream that aim to make the job of finding talent a little easier. Dream’s website states that its platform provides “verified blockchain freelancers, hand-picked to deliver large projects or one-off consulting gigs.” And yes, Dream is currently gearing up for a token sale.
Regardless of the channel of acquisition, it is clear that companies are in an all-out-race to acquire employees with blockchain skills.