A Workforce Revolution: Analyzing the Impact of Blockchain and Cryptocurrencies

I recently had a conversation with a friend who has some understanding of blockchain and cryptocurrencies. He expressed a desire to explore this field further and find a way to work in it, but he believed it wouldn’t be possible because “you have to be a software developer to work in blockchain”. While I understand why this belief is so common—there are indeed many developers working in blockchain—, let me tell you that this is a misconception. While software coding is valuable, the crypto sector has also opened doors to people with other skills.

As a result, there are various roles that only require experienced and proactive candidates. For instance, many companies must promote educational content about Blockchain for widespread adoption, both on social networks and blogs. If you possess skills or experience in content writing, you are perfectly suited for these fields. The same applies to individuals specialized in project management, a domain demanding expertise in team coordination, deadline setting, and ensuring project objectives are met.

Additionally, there is a demand for customer service. Exchanges like Coinbase, Bitfinex, Binance, and Kraken require personnel who can guide customers and resolve their issues. In many cases, all you need is knowledge of blockchain and cryptocurrencies, along with skills in providing excellent customer service. I can personally attest that customer service within the crypto sector offers a wealth of positive experiences. I worked in that area for six years and gained valuable insights.

The establishment of strategic partnerships and the identification of growth opportunities play a vital role in enabling companies to optimize their working schemes. There are currently multiple companies considering implementing Blockchain in their operations, but they are struggling to find the right methods to do so. This is where people with experience in consulting and advising come into play—individuals who can assess business needs and recommend suitable Blockchain solutions.

Allow us to provide you with empirical evidence to demonstrate that you’re not dealing with speculations. In mid-2023, a study conducted by CoinKickoff -supported by data from LinkedIn and the OKX exchange- was published. This report revealed that by mid-2022, the number of individuals working in the Blockchain industry had increased by 76% in one year, with exchanges playing a crucial role in the sector. A significant 42% of professionals across 158 companies were found to be employed by entities such as Binance and Coinbase.

Thus, the CoinKickoff team turned to LinkedIn to analyze all job postings that contained the tag ‘cryptocurrency’ in the title or description. The creators took note of the number of crypto-related jobs in multiple countries, major cities, and states in the U.S. Some of the results are quite interesting, such as the huge concentration of crypto jobs in Georgia, a former Soviet republic—127.1 jobs per million people—, and the same applies to Wyoming, a U.S. state that already had 693.2 jobs per million inhabitants in 2022.

The study in question presents much to analyze, particularly in light of the crisis that the crypto sector experienced in 2022 following the collapse of FTX. Even with significant layoffs announced by companies such as Amber Group, Coinbase, Mythical Games, Bybit, Kraken, and Lemon Cash, the study reflected that crypto job positions were still being advertised in all 50 states of the U.S.

It’s noteworthy that in the United States, it’s easier to find a cryptocurrency job in a small town than in a big city. If you think about it, it’s understandable. For example, in San Bernardino, located near Los Angeles, there are 193.24 cryptocurrency jobs per 100,000 people, while in New York, the figure is 13.97 positions per 100,000. It may seem counterintuitive, but it’s understandable—less labor competition, lower cost of living, some areas have fewer regulations, a greater focus on remote work… Taking note of these details is always interesting.

Blockchain is redefining the job market by introducing greater transparency. Thus, it’s necessary to cultivate our knowledge and dispel the myth that there’s no way to enter without programming skills. Through the tokenization of credentials, individuals can securely own their work data, enabling them to selectively share it with potential employers. This sets the stage for a complete transformation in human talent management.

As the adoption of these changes increases, it becomes crucial for new professionals to prepare themselves. We understand that this process is not easy—as we emphasized in our note on Artificial Intelligence—but it is necessary. How to address the challenges posed by adaptation? We’ll be here to offer guidance and make your integration as smooth as possible.

For more information about our projects, feel free to follow us on X. This way, you’ll stay updated on the latest developments related to the Loadpipe protocol, especially regarding Hamza.biz, the first Web3 e-commerce platform bearing our signature. It’s a project aimed at enabling users to trade with complete freedom, accessing a wide variety of cryptocurrencies without the burden of complying with numerous tedious regulations. We’d love for you to check out the project and share your thoughts with us.