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Blockchain businesses are raising funding, extending their reach, and recruiting more people to meet the rising need for safe, traceable online transactions. Using expert research, projections, and blockchain job market data can help you understand the blockchain sector and how to recruit for it.
Segmentation of the Blockchain Market
You may be familiar with the term blockchain (https://en.wikipedia.org/wiki/Blockchain), but how widespread is its actual use? There are already close to 40 million users of the technology throughout the world, and that figure is only expected to grow. If the market is expanding, then businesses must hire more workers to meet their demands. By segmenting the industry’s subsectors, financing landscape, and employment market, you can get a better feel for its current state and future prospects.
Several industries may benefit from Blockchain
Blockchain technology has broad use, but it has found great success as a means of exchange for monetary institutions, and notably for the most popular types of cryptocurrencies. It’s clear that the majority of cryptocurrency and blockchain businesses operate in the following three categories: Exchanges & Cryptocurrency Trading; Private Equity & Financial Services; and Wallets & Money Services. Click here for more on cryptocurrency and other electronic currency information.
- While blockchain’s origins are in the financial sector, it is already causing waves in a wide range of other sectors.
- In-game blockchain transactions are used by 44% of gamers to either buy or sell virtual goods.
- By 2025, it is expected that 55% of healthcare services provided by private companies would make use of blockchain.
- Blockchain currencies are so widely adopted that even organizations and charities may make donations to them.
Maturation of the Blockchain
Growth in the blockchain industry has been meteoric since 2012 when all investments came from early-stage investors like Seed and Angel. Seed and Angel funding had dropped by half by 2017, but Series B, as well as C agreements, had increased dramatically.
In recent years, investors have shifted their emphasis, allowing fewer firms to get larger investments. And the expansion will continue. According to projections, the value of the blockchain sector will increase to $20 billion by 2024.
Job Market Changes Are Imminent
Professionals with diverse skill sets are starting to take notice of the rapidly expanding blockchain business. There were many more people looking for work than there were available positions. Nevertheless, that’s quickly set to change as blockchain firms grow and gain popularity across a variety of sectors. This makes the crypto industry recruiting the most crucial position in the industry.
Job Titles in High Demand in the Blockchain Industry
According to the data gathered, software engineering, marketing, operations, and finance make up 82% of all available opportunities in the business. In order to better understand where you should focus your efforts for crypto recruiters, let’s take a look at the top blockchain jobs right now:
- Software Engineering
Being a relatively new and complex technology, blockchain is in high demand, and many businesses are eager to fill open positions for qualified blockchain specialists. It’s no surprise that software engineering jobs accounted for around 44% of all blockchain job openings at the time of publishing. Many kinds of software engineers exist, and they all bring something unique to the table.
Seventeen percent (17%) of all blockchain jobs are open marketing posts. Due to the novelty of the blockchain sector and the general public’s lack of familiarity with the technology, a strong marketing team is essential for convincing potential backers, clients, and users of the technology’s value.
About one-fifth of all Blockchain, jobs are in operations, making it the third most sought-after profession. In Operations, operations management and IT expertise are in the highest demand (IT).
Recruiting and administration work in Blockchain is currently facing shortages that are slated to increase steadily as the need for other department hires increases.
Financial services form the backbone of this business, thus it’s hardly surprising that 8 percent of available blockchain opportunities are in that sector. These professionals may aid those in marketing and operations who may not have financial or blockchain experience in using the proper terminology and developing a deeper technical grasp of their goods and services.