Blockchain jobs are more than just cryptocurrency
- The US is responsible for the highest percentage of open blockchain jobs
- The adoption of blockchain across different sectors would also increase the demand for blockchain jobs
- Blockchain topped the list of most in-demand hard skills for LinkedIn in 2020
The blockchain is a distributed database that allows for secure, transparent, and tamper-proof transactions. Because it is decentralized, blockchain technology has the potential to disrupt many industries.
When most people think of blockchain, they think of Bitcoin and other cryptocurrencies. Although blockchain technology originated in the financial sector, it has quickly spread to other industries.
There are now countless blockchain technology applications that go far beyond banking and cryptocurrency.
The US responsible for the highest % of open blockchain jobs
The US is responsible for almost 40% of all open blockchain jobs worldwide. The state of California has the most blockchain job opportunities, with 22% of the roles in the sector still open.
In contrast, search interest in blockchain jobs is highest in New York, despite being responsible for only 12% of US job opportunities. According to data from LinkedIn, the US has the highest number of jobs in the blockchain industry on offer, with 19,029 vacancies advertised on the platform.
New job opportunities created by blockchain
There is a broad spectrum of jobs available in businesses where some roles incorporate blockchain technology while others focus on it. This may sound surprising, but Uber, eBay, Capital One, Match.com, and GEICO rank among the companies searching for and contacting candidates who have listed “bitcoin” or “blockchain” in their skillset.
The fintech sector could be one of the sectors affected by need for blockchain innovation. The blockchain will allow for more secure and efficient transactions, making fintech products more user-friendly.
In the Future of Jobs report by the World Economic Forum, nearly 31% of agricultural organizations, 40% of automobile organizations, and 41% of consumer organizations have expressed interest in blockchain adoption. Health and healthcare companies’ adoption rate is 72%, while 61% of companies are in education and exactly half (50%) in the energy and utility sector most like to adopt blockchain.
Meanwhile, 40% of the government and public sector agencies expressed interest in blockchain adoption. The adoption of blockchain across different sectors would also increase the demand for blockchain jobs.
The roles include developers to project managers, miners to data scientists, DevOps engineers to consultants, and technical product managers. Industries from insurance to gaming are also using blockchain applications.
Blockchain is an emerging in-demand skill
The Future of Jobs report presented that blockchain will be an emerging in-demand skill. Blockchain topped the list of most in-demand hard skills for LinkedIn in 2020.
The report points to a 5.7% for emerging professions such as blockchain jobs and establishes that by 2025 almost 97 million new roles will emerge, thereby presenting favorable promises for blockchain professions.
According to CB Insights’ Market Sizing Tool, annual spending on blockchain solutions will reach nearly US$16 billion by 2023. Meanwhile, 55% of global respondents said blockchain was a strategic priority in Deloitte’s 2020 Blockchain Survey.
Blockchain is not just technology that will part and parcel of the ICT department; it will be how work gets done in the future.
30 November 2023