The Asian blockchain jobs and employment market is booming with a 50% increase in industry roles since 2017.
UK-based specialist professional recruitment consultancy Robert Walters reports that startups and established corporations in Asia are on a recruitment drive, with many crypto industry positions now becoming more appealing to those from more conventional sectors.
Stalling cryptocurrency prices on the trading market hasn’t deterred Asian would be professionals seeking a change in direction in their careers, adding crypto exchanges and blockchain projects to their usual lists of possible employers such as IBM, Google and Amazon. Julian Hosp, co-founder of Singapore-based crypto wallet and card start-up TenX observed:
“We hardly ever hire from inside of crypto because most people inside of crypto are very inexperienced. You have very, very few people who are experienced who get into the crypto industry.”
John Mullaly, director of financial services at Robert Walters in Hong Kong agrees, suggesting that many blockchain enthusiasts lack the skills necessary to join the industry. Hosp suggests that employment interest comes in waves according to the ebb and flow of crypto prices:
“If crypto is doing well, if people are making money in crypto, we get huge inbound from people because they feel like, “I need to jump on this wave…”And then when you see crypto going down — then we see that immediately the demand of people, they’re like, “Oh no, this is a dying industry, I shouldn’t go in there.” So it’s completely emotional.”
The Asian job seeker interest was at its peak during the second half of 20017 in accordance with Bitcoin’s then rocketing price, dropping off as the flagship digital currency’s price fell in 2018. Despite this, data has shown that the interest in industry positions is still trending upwards.
As well as potential employees jumping from more conventional sectors, employers are often facilitating this, says Justin Chow, Asia head of business development at Cumberland — the cryptocurrency division of trader DRW. Chow suggests that his company viewed hiring at its cryptocurrency division no different from hiring across all asset classes.
Indeed, Upwork, an American worldwide employment-related search engine states that:
“The situation in Asia seems to mirror the US in that Bitcoin [job search] trends are much more volatile (and related to price volatility) and resulting media coverage while blockchain and cryptocurrency searches have seen a more consistent upwards trajectory.”
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