Demand Increases Exponentially for Blockchain Professionals
During the last year, numerous governments, financial institutions and companies have begun exploring the hidden potential of Bitcoin’s underlying system, the blockchain network. The year of 2017 has brought forwards a boom in this direction, with numerous start-ups offering services based on blockchain technology appearing on a daily basis.
The increasing demand and popularity of blockchain technology has therefore brought onwards a new demand on the market: blockchain professionals. While the technology has a limitless potential, creating systems based on distributed ledger technology isn’t too easy, therefore companies throughout the world have begun actively seeking blockchain consultants, developers, strategists and all-in-all experts on the technology.
Recent reports now indicate that blockchain developers rank second on the list of the 20 fastest growing job skills, with job postings seeking blockchain professionals doubling this year alone. The first spot is currently being held by robotics specialists. According to Upwork, many blockchain professionals advertise their service at an average rate of $115 per hour, which is higher when compared to experts from other industries. Analysts explain that an increased demand and a low offer is the perfect recipe for higher prices.
According to UpSkill, the 20 fastest-growing skills for freelancers saw an increase in 100% this year, whereas the top 10 skills saw a 200% increased demand. Research has also shown that at this time, there are roughly 4,000 blockchain-related job openings waiting to be fulfilled, therefore the market is in desperate need of more blockchain professionals.
For those who do not know, companies throughout the world are researching distributed ledger technology, as it is bound to increase efficiency, lower costs, increase speed and provide better security on multiple industries. It is important to mention that blockchain technology isn’t only applicable on the financial market. Rather, it can be used on a variety of niches, for numerous purposes, such as securing data, reducing fraud potential, allowing shareholders to transparently cast votes and more.
It is expected that soon enough, the demand for smart contract developers will also increase exponentially, thanks to Ethereum, which allows users to employ the technology in order to create self-executing contracts that enhance speed, security, and allow users to make various transactions without needing to meet face-to-face.