Blockchain industry workforce growing 80% this year, study shows
Blockchain technology is one of the trendiest developments in business, finance and a number of other industries. Following the rise in popularity of cryptocurrencies, their entry into the public has brought new investment strategies and opportunities.
There has been an increase in the number of people finding work in this burgeoning technology sector as a result of the growing popularity of blockchain and cryptocurrencies.
According to the findings of a survey conducted by professional networking site Linkedin and cryptocurrency trading app OKX, the number of people working in the blockchain sector increased by 76% annually as of June 2022.
The Blockchain Space is expanding at a faster rate
Since its inception a little more than a decade ago, the blockchain sector has experienced tremendous expansion, but the pace of development has accelerated significantly in recent years.
While the industry and its growth are often evaluated based on market capitalization, trading volume and other financial criteria, the firms that comprise this sector are led and managed by people with a wide range of skills.
The US, India and China are the top three nations in terms of talent availability in the blockchain industry, according to the research.
India ranks second in terms of the number of competent professionals in various types of such applications, including cryptography and financial applications.
In terms of blockchain talent, India trailed the US, while China ranked third overall. India, on the other hand, was identified as the fastest growing nation in terms of availability and growth of competent specialists, with an annual growth of 122% in the talent pool.
Canada follows with a growth rate of 106%, followed by Singapore with a growth rate of 92%.
Nigeria has the fourth highest global and African talent development rate at 81%. China has the lowest growth rate among the top 10 nations in the world for blockchain talent, at 12%.
Global blockchain market will earn 20 billion dollars in revenue
Global spending on blockchain solutions is expected to reach $11.7 billion this year. By 2024, the worldwide blockchain technology market is expected to generate $20 billion in revenue. The number of registered wallets passed 70 million in the second quarter of 2021.
When it comes to the mix of talent in the industry, the Linkedin/OKX survey concluded that the share of finance talent is the highest, at almost 20%.
Meanwhile, at 16%, engineering talent represents the second largest share. Talent in business development, information technology and sales round out the top five at 6% each.
Crypto total market cap at $1.16 trillion on the daily chart | Source: TradingView.com Featured image from InvestNews, Chart from TradingView.com
