Blockchain and cryptocurrencies are changing the job market as we know it

8 May, 2018

Over the past few years, the blockchain and cryptocurrency industries have grown so quickly that there are now specific services and opportunities dedicated to the field.

Job skills within the blockchain sector have grown over 6,000 percent among freelancers just in the past year, according to a report by online freelancing database Upwork. “Blockchain” is by far the hottest skill listed on the site, replacing last quarter’s leader, “bitcoin.”

Blockchain technology cuts out the middleman—such as a bank—by creating secure, quick transactions between two parties. Both startups and long-lasting organizations are beginning to test new ways blockchain technology can help their businesses.

Blockchain and cryptocurrency are in high demand

Large corporations like Samsung and IBM are using blockchain in innovative ways to send merchandise, create monetary exchanges, and even help with inventory and supply chain management. Small startups are utilizing the directness of blockchain to avoid dealing with banks and regulations while they try to get off the ground.

As blockchain technology becomes a bigger part of the conversation in business, companies need to “invest in reskilling to prepare workers for the jobs of tomorrow or leverage freelance professionals who are nearly twice as likely as traditional employees to proactively take reskilling upon themselves,” said Stephane Kasriel, CEO of Upwork. “Many of today’s Fortune 500 companies are already doing this, and adoption of flexible workers will increase as hiring gets harder.”

The momentum is still building

A huge portion of jobs in cryptocurrency come from people leaving other fields, such as insurance, government, and even finance, to help bring the necessary tools for blockchain technology to grow.

As these teams come together, it’s only a matter of time before major blockchain initiatives by large corporations are released to the masses. Once that happens, the floodgates will open even wider.


Image via Pxhere.

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