Half of the Jobs in Blockchain Disappeared – What Now?

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The Blockchain industry has been growing very rapidly in the last few years ($56bn being invested in Blockchain companies since 2014). However, in the light of recent events, including the collapse of TerraUSD stablecoin, crypto trading and the blockchain industry as a whole have become quite controversial topics. But what about the people working in this sector and new talents wishing to enter it?

At first, the industry was very attractive for talent, with blockchain companies hiring a lot of new employees and fast. The aspect of decentralisation and countless new possibilities in providing financial services that were presented by the blockchain technology have quickly attracted huge VC attention, with $33.8bn being invested in 2021 only. With funding in place, the number of cryptocurrencies has spiked, the NFTs’ market has expanded by over 1820% between 2020 and 2021, and crypto wallets have become common.

Unfortunately, this technology is as promising as it is volatile. We don’t need to look very far for an example of instability that managed to shake the entire industry. The collapse of TerraUSD that took place just two months ago came at a price of over $80bn. Another worrying trend we see is the decreasing value of Bitcoin, which at this point has dropped by 50% since March 2022. The same goes for Coinbase, with the drop of 45%.

Following this recession, it’s no surprise that the blockchain job market has also taken a painful punch. Looking at the period between April and July 2022, the number of job postings has dropped by 50%, with the figures decreasing from 6,500 to 3,500 employment offers in a matter of four months.

As disturbing as it sounds, the blockchain technology is most likely to keep evolving and its volatility will hopefully be reduced through appropriate regulations. The dramatic decrease in the number of job offers available has made the recruitment process very strict. With this in mind, it’s more important than ever to be aware of the required skills in this industry that will make you stand out from other applicants and help you secure a position in a blockchain company.

Our Blockchain Job Report has been designed to help you do just that. We gathered the best experts in the industry to guide you through the current situation in the blockchain, providing you with an understanding of the necessary skills to thrive in this sector, as well as a range of real-life job offers to give you an idea of the actual demand out there. Read it now!

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