It remains to be seen what the future of cryptocurrency will be. However, no matter where it ends up, its impact on the job market is already apparent. Between December 2016 and December 2017, there was a 207 percent increase in blockchain job postings on Indeed.com. Here are six key pieces of information you need to know about how the crypto industry will affect the job market.
1. According to CoinList’s “CryptoCareers” infographic, California is the most popular state for crypto startups.
29 percent of US cryptocurrency employees reside in California. However, 15 percent of crypto employees work remote. To take advantage of top talent no matter where you are located, offer flexible working options.
2. Companies are shopping the freelance market for blockchain talent.
Upwork reported job postings for workers with blockchain skills grew more than 20-fold for three quarters in a row and posted a 6,000 percent increase year-over-year.
3. Profit-sharing is a perk used in the crypto industry.
About 10 percent, according to the “CryptoCareers” infographic, offer either equity in the company or tokens (more on that next).
4. Companies are offering coins as a part of the salary package.
This is a better perk than equity because it is inherently liquid. Often, employees have to wait until a liquidity event sells shares they have given as part of a salary package.
5. In this industry, we tend to think about engineers interested in working on cryptocurrency projects or blockchain technology.
However, these startups have positions to fill that do not require technical ability – like operations, product design, customer service, and sales and marketing. Any crypto employee should be able to speak intelligently about the technology though, so make sure to educate them.
6. Because it is a new technology, experience in blockchain or cryptocurrency may be hard to find.
Instead, hire for technical aptitude and willingness to learn. Entrepreneurial types who understand the risk of developing technology, but are excited about its potential, make promising candidates.
The potential for blockchain technology job opportunities is undoubtedly increasing as the cryptocurrency impact is rapidly growing. If you are looking to break into the cryptocurrency sector of technology, please contact us!
