The prices of cryptocurrencies have witnessed significant peaks and troughs in interest, over the years. Through all of this, the number of cryptocurrency jobs has steadily risen.
On Nov 7, popular job listing and networking platform Indeed published its analysis into the current Bitcoin job market. According to the data, there has been a 1,457 percent rise in the share of cryptocurrency jobs per million over the past four years. This is expected as the market has matured over the years with the rise of institutional investors and large tech companies making inroads in the blockchain industry.
The Entry of Large Tech and Cryptocurrency Companies
As can be expected, the increase is mainly due to the fact that there has been a resurgence in the level of cryptocurrency interest. Individuals, institutional investors, and some of the biggest companies in the world have shown interest in cryptocurrencies in some form, with the most popular adoption of these assets being as methods of payment.
Social media giant Facebook recently announced its plans to launch its Libra stablecoin in June 2020. But, before then, it had beefed up its team with experienced blockchain professionals from all over the field.
Square, the payment processor, founded by Twitter chief executive Jack Dorsey, also went on a crypto-hiring spree when its Cash App added cryptocurrency options for its users to easily buy and sell Bitcoin.
By July 2019, companies such as IBM, Oracle, Amazon, KPMG, Ernst & Young, among others, had made known their intention to employ talent with experience and expertise in the cryptocurrency and blockchain fields.
Government Agencies Not Left Out
While the private sector has dominated the share of interest in crypto talents, Uncle Sam has not been left out. Earlier this week, the United States Federal Reserve published a job posting for a Retail Payments Manager to help lead its research into digital assets, One of the perceived drawbacks of cryptocurrency is the price volatility, value wildly spikes and falls, discouraging many people from... More, and Distributed Ledger Technology or DLT is an electronic system or database for recording information that is not run by one... More.
Other agencies have made similar moves. The Securities and Exchange Commission posted a job opening for a cryptocurrency specialist back in April, in hopes of finding someone to act in the capacity of a full-time attorney advisor to its Division of Trading and Markets.
The rationale for all of this is quite clear. Private companies looking to venture into the digital asset space will need the best hands to handle such a move, while the government will also need to ensure that the right people are spearheading its efforts at providing regulations and oversight.
Of course, given the scope of their work, it is largely expected that the private sector will hire more cryptocurrency experts than governments.
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