Despite all the concern generated by the crypto industry in recent weeks between successive price drops of Bitcoin, the bankruptcies of certain companies or interruption of hiring from many industry players, the supply of work related to the world of blockchain continues to grow year after year.
Yes, the crypto industry is arguably going through one of the most difficult phases in its history and confronts phenomena that are still new to them. While at Be[In]Crypto we have reported on the situation of certain crypto players who still have the possibility of expanding during this bear market, we observe that job offers related to the industry have increased steadily in recent years. In the USA, the growth over one year between 2020 and 2021 is nearly 395%far more than the rest of the tech industry.
Many sectors are affected by this evolution, and not only those related to technology and programming. Thus, lawyers, journalists, marketing professionals or content creators still exist, but they are now oriented towards cryptocurrency.
The crypto industry is resilient but also competitive
The reasons for this increase are multiple, and beyond the simple financial aspect, it is clear that the industry is boomingwith technological prowess and a rather honorable goal.
Of course, salaries are generally very high, and the crypto industry does not hesitate to recruit staff from confirmed technology companies such as tech giants, with attractive offers due to the substantial financial means that most of them have. companies related to cryptocurrencies.
In addition, generally, tokens are distributed to new employees, in particular as rewards. Potentially, these are found to be multiplied by 10 or by 100 depending on the relevance of the project in question, i.e. a significant added value when it is also carried out without investment and without risk taking beforehand.
Web3-related jobs are also more motivating than Web2-related positions, even for a similar salary. Indeed, the shadows on the board within these companies are numerous, while one cannot really realize the scope of the project and the achievement of the defined objectives.
On the contrary, within a Web3 company, the transparency of the blockchain or the statistics related to the use / adoption of a protocol make it easier to answer these questions.
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Job vacancies multiplying
While cryptocurrencies are a phenomenon that is increasingly resonating internationally, a report from Indeed, the famous job platform, attests to the growth of the industry. Since April 2020 and almost the start of the Covid-19 pandemic until April this year, growth is 804% for everything related to the blockchain, cryptocurrencies or even NFTs.
Undoubtedly favored by the Covid crisis, the expansion of the industry is also benefiting from the nature of the job offers which are usually achievable remotely and with more flexibility than traditional pre-pandemic positions. Now, among tech jobs, the proportion occupied by the crypto sphere is 67.48% over the years 2021 and 2022 against 41.22% over 2019 and 2020.
The industry has been booming for several years, as have the job vacancies referenced in the sector. While the market is booming and was able to reach 3 trillion in market capitalization, 40,000 billion are expected for 2025. Investments are multiplying, with money raised not only in the millions but in the billions for any type of project that develops.
In addition, institutional investors are ever more numerous, and the big brands are now rushing to enter the sector so as not to miss a train already launched at very high speed. The utilitarian aspect of blockchain technology remains a major strength aspect to the development of the industry.
According to Linkedin in 2020the professional specialization in blockchain is the most in-demand skill, and in 2022 it is still among the most sought-after and coveted specializations. When doing research by entering “bitcoin”, “ethereum” or even “cryptocurrency”, we indeed find a large quantity of job offers.
Knowing that the industry is still young and its market not very mature, the opportunities are numerous, since the talent pool is still small to meet an ever-increasing demand for jobs. Digital assets have grown much faster than the rest of the tech-related sectors, giving it a new wind at the same time.
As mentioned in a previous postthe market capitalization of Bitcoin has reached peaks very quickly compared to the times it took for the shares of Apple, Microsoft or even Amazon to reach 1,000 billion in market capitalization.
The future therefore seems bright, especially since Blockchain technology has broadened its scope of action with the advent of a multitude of “sectors” such as DeFi, DAOs, NFTs, Gaming and even the Metaverse. A substantial expansion which is also reflected in the needs created by the industry, with an even greater and more diversified demand for new talent.
The emergence of cryptocurrencies has undoubtedly already disrupted the international labor market, especially for the countries most open to cryptocurrencies or the most influential in the sector. Millions of jobs have been created, the demand for new talent persists; for the undecided, this is a sector of the future for which it can be very judicious to orient oneself.
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