Tech

Steve Kaaru

Blockchain jobs grow steadily, offering twice the average US salary: study

While cryptocurrencies have experienced boom-and-bust periods in the past five years, blockchain-related jobs have grown steadily. According to a new study by TeqAtlas, blockchain jobs have grown by 139% compound annual growth rate between 2013 and 2018. The research firm which is based in the crypto valley of Zug in Switzerland analyzed over 3,000 job vacancies for its report.

The study revealed that the demand for professionals with blockchain skills has grown, with the rising median salary in the blockchain field being the biggest indicator. The highest number of blockchain jobs pay between $81,000 and $144,000 a year. Some of the jobs pay upwards of $250,000 per year. With the average salary for a blockchain professional standing at over $105,000, it’s twice the average salary in the U.S. which stands at $49,000.

The study also revealed that New York-based tech giant IBM is the outright leader in the blockchain industry when it comes to blockchain job vacancies. The Big Blue has an interest in almost every field where blockchain is applied, from supply chain, to finance and identity authentication. The company had 335 vacant blockchain-related job openings in March this year.

Other than IBM, other companies with high job opportunities for blockchain professionals include Oracle, Coinbase, SAP, Amazon, Block.one and ConSensys. The big four accounting firms, PwC, Ernst & Young, KPMG and Accenture were also in the top 15.

When it comes to regional dominance, the U.S. was the most popular destination for blockchain opportunities. This finding reiterates an earlier report by Allied Market Research which found that the North American region is the leader in the blockchain supply chain market.

While the U.S. is the overall leader, the city of London had the highest number of blockchain vacancies, accounting for 26% of all the openings. New York, San Francisco, San Jose, Singapore and Hong Kong were the other popular destinations for blockchain professionals.

The report also found that over 800 venture capital firms have invested in blockchain companies. The Digital Currency Group accounted for more deals than Pantera and Blockchain Capital, combined. Boost VC, Andreessen Horowitz, Y Combinator, Polychain Capital and Galaxy Digital were among the other prominent players in the industry. Some of the largest banks in the world have also invested in blockchain companies, with Citigroup at 8 and Goldman Sachs at 7 being the highest.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as SegWitCoin BTC coins. Altcoins, which value privacy, anonymity, and distance from government intervention, are referenced as dark coins.

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