Sign of Revival? Blockchain Space Still Hungry for Experts
Blockchain developer talent is in-demand in 2019, pointing to a revival in the sector.
The year so far has been beneficial to digital assets - with prices recovering significantly since the lows at the start of 2019. Another sign that crypto is here to stay is reflected in hiring statistics and the payment profile for blockchain talent. Blockchain jobs are now even more plentiful and experts are in demand.
Research by teQatlas reveals current demand for 2,276 experts from various sites, slightly down from the peak at the end of 2018, with demand for 2,577 experts. The postings have grown significantly since 2014, where only a handful of jobs were posted.
The crypto space developed for years based on voluntary, open-source efforts, or through unofficial hiring based on cryptocurrency payments. But as more business clients and even large companies explore blockchain technology, the demand for experts is growing. Large-scale hiring from IBM and more recently, Facebook, has added to the general demand.
Most salaries in the space range between $80,000 and $144,000, with outliers above $271,000. This level of payment is two times the US average.
IBM is the leading employer in the space, followed by Oracle. Audit companies PwC and Ernst&Young are also hiring blockchain experts. The financial side of coins and tokens, as well as the potential to audit blockchains, has created its own demand for experts. Coinbase and Kraken are among the top 15 employers. But there is a significant presence from mainstream companies, including Amazon, SAP, KPMG.
The rest of the jobs are distributed among leading blockchain projects and startups, including Ethereum’s innovation hub ConsenSys, Block.One, and AxiomZen, the studio behind CryptoKitties.
Despite the wave of layoffs at the end of 2018, demand for crypto experts is growing as the space evolves. New types of blockchains are cropping up, and the environment for distributed apps is growing. The arrival of Facebook’s Libra project on the scene may also increase the attempts to deploy blockchain solutions.
Most blockchain-based jobs are offered in big cities, with London carrying 26% of the worldwide demand for blockchain projects. New York and San Francisco host 19% and 13% of the jobs, respectively.
Smaller projects are still accruing supporters and developers, mostly based on voluntary efforts. The Litecoin Foundation is one of the organizations raising funds for full-time developers.