The dramatic rise in the value of Bitcoin has inspired a wave of people to look for work in the ‘Blockchain’ industry, according to figures released by job site, Indeed.
Interest in Blockchain jobs more than doubled at the end of last year, as Bitcoin’s rocketing value dominated headlines. The average salary for roles requiring Blockchain expertise ranges from £30,117 per year for a research analyst to £67,209 per year for a software architect.
Blockchain is the technology which underpins cryptocurrencies like Bitcoin, which many argue could soon be used to handle healthcare records, digital banking and essentially anything that needs an advanced, secure database.
A year ago, Blockchain was little known outside tech circles and Blockchain companies struggled to find recruits. Indeed’s data reveals that at the start of 2017 there was an acute ‘talent mismatch’, with Blockchain vacancies outnumbering candidates by four to one.
However, by the end of the year the number of jobseekers searching for Blockchain roles had increased 10-fold. During the same period, the number of available jobs tripled, meaning that by December the talent gap was much smaller.
The surge in interest coincided with the steady rise in the value of Bitcoin, which appreciated by 2100% in 2017. The greatest spike came in December, when Bitcoin made headlines around the world as its value soared past £13,000. In December the number of jobseekers looking for Bitcoin roles was more than double that seen in November.
Indeed’s data shows that a growing number of employers want to explore Blockchain’s capability. For now, the industry’s relative youth means most vacancies are for people with tech skills.
Bill Richards, UK managing director at Indeed, commented: “Bitcoin was designed to be a secure and anonymous way of paying for things and for some its rocketing value is a sideshow. Nevertheless, its stellar rise has turned Blockchain – the technology that powers it – into a tech pin-up for ambitious jobseekers.
“Blockchain developers argue Bitcoin is just the start and that the technology has huge untapped potential. Hundreds of companies are now investing in staff and skills in an effort to develop new applications for Blockchain.
‘‘While the number of opportunities and searches remains modest, Indeed’s data shows companies are increasingly seeking experts to focus on this new technology – and jobseekers have been quick to react. It is worth noting that these are specialised roles and they can be hard to fill. However, Blockchain is a field that is certainly worth watching as both jobseekers and employers seize the opportunity to capitalise on its potential.’’