The first quarter of 2018 saw a 6,000% increase in demand for blockchain related jobs on freelance site Upwork.com. Upwork is the worlds largest freelance site and publishes quarterly reports on industry statistics. Out of 5,000 skills listed on the platform, Blockchain related development is by far the fastest-growing category. According to the Upwork blog –
“Over the past three quarters, its [blockchain] surge on Upwork.com has exceeded 2,000 percent; during the first three months of 2018, it experienced more than 6,000 percent growth over the same period last year.”
Blockchain Demand Increases Worldwide
Demand for blockchain engineers is linked to the need for blockchain related services and products as the industry is rapidly expanding. There has been a slew of regulatory announcements since the start of 2018.
Regions such as Japan, China, Russia, Korea and the USA have recently started to accommodate the technology which is serving to bolster growth and adoption. A recent ING survey indicated that cryptocurrency adoption is set to double. And cryptocurrency exchanges were overloaded with requests in late 2017 and early 2018.
A Booming Industry
The blockchain industry is itself booming. There are thousands of projects aiming to disrupt a wide variety of industries to make them decentralized and more transparent. These industries include everything from social media to healthcare to insurance. However, there is a clear and obvious lack of quality blockchain engineers in a new sector of the economy. Blockchain engineers are expensive and hard to find, and the best ones are likely working on applications that they are passionate about or are potentially starting their own business. Corporate entities no longer have a stranglehold on the best talent.
Nearly all of the fasting growing jobs on the Upwork Q1 report is related to technology, including Tensorflow, Amazon Dynamo DB, augmented reality, chatbot development, machine learning and angular development. Content strategy, subtitling and art direction also featured. Demand for Ethereum smart contract programmers and developers with a knowledge of Hyperledger Composer are also highly sought.
Additionally, blockchain modules have only recently been added to university curriculums. And this has been criticized on the basis that the lecturers themselves do not have the prerequisite knowledge on the subject. As rare as blockchain engineers are, blockchain professors are even rarer, if they exist at all. Blockchain demand increases will not be satisfied anytime soon, judging by current trends and patterns.
Digital Nomad with an interest in Zen and Blockchain technology.
Law graduate with 3 years experience as a consultant in the capital markets industry and 4 years experience freelancing on UpWork as a Creative Writer.