Over the past several years, the cryptocurrency and blockchain space has seen immense growth, not only regarding digital asset prices, but also in the many startups and existing businesses that are now involved in the industry and its underlying technology. Numbers from the past year, however, show decreased interest from job seekers even though the number of jobs in the crypto and blockchain industry has grown, according to recent data gathered by popular employment site Indeed. From September 2018 to September 2019, “the share of cryptocurrency job postings per million on Indeed have increased by 26%, while the share of job searches per million have decreased by 53%,” Indeed detailed in a report provided to me.
These numbers are also down from the figures posted one year prior. September 2017 to September 2018 tallied a 214% growth in crypto and blockchain jobs on Indeed with a 14% growth in related job seeker searches, according to an email from an Indeed representative.
This past year is the first down year for crypto/blockchain job searches on Indeed since 2015.
Indeed Since the birth of the industry’s flagship asset bitcoin in 2009, entities have created numerous other digital assets, as well as various use cases for blockchain, the technology underpinning bitcoin. As these assets and their underlying technologies gained exposure, an increasing number of people entered the arena with ideas on how to harness such opportunities, leading to an increased number of available jobs in the industry.
“[B]etween September 2015 and September 2019, the share of these jobs per million for roles related to cryptocurrency grew by 1,457%. In that same time period, the share of searches for these jobs per million increased by ‘only’ 469%,” Indeed said in the report.
The initial coin offering (ICO) boom of 2017 brought significant attention to the cryptocurrency and blockchain industry as startups capitalized on the new way to raise significant amounts of funds. With these ICOs came new job opportunities.
The ICO bubble burst in 2018, however, causing the total cryptocurrency market cap to plummet 85%, HackerNoon detailed in an article . More than 1,000 cryptocurrency projects died in 2018, as reported by TechCrunch last year. Regulation also flooded to the space as authorities investigated numerous projects and companies.
Amid the ashes of many, a number of companies continued to grow , such as Coinbase and Binance. Additionally, many mainstream giants such as Amazon, Walmart and JPMorgan Chase have taken steps to incorporate blockchain technology in various capacities.
Such growth requires people with specific skills to implement this new technology, hence the increased number of job postings. According to Indeed’s report data provided to me, software engineers, software architects, full stack developers and front-end developers were top priority hires in the crypto and blockchain industry between October 2018 and September 2019.
The companies with the most job postings on Indeed over the past year primarily were mainstream powerhouses such as Deloitte, IBM, Accenture and Cisco, among many others, the Indeed data included. This list lines up with the current trend of mainstream blockchain technology adoption.
Based on the numbers listed above from the past year, however, job seekers have been less interested in searching for cryptocurrency and blockchain related employment opportunities....