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Where are the Blockchain engineers?Feb. 16, 2018, 1:06 p.m. GMT
Blockchain technology gained its popularity with Bitcoin, the technology has potentials to impact almost every industry, it has often been compared to "the Second Internet"
Blockchain is a foundational technology that is going to impact a wide variety of industries. However, none of these will be doable over the long term if the demand for Skilled engineers is not met. We continue to speak to a lot of recruiters who find it tough to recruit Blockchain talent. There simply is too little compared to the demand.
Demand for Blockchain talent has continued to grow exponentially so much so that Blockchain related jobs are second fastest growing skill out of more than 5000 skills in today's labor market. The median income of a Blockchain developer in the US is around $158,000 per year compared to general software developers for who it is $105,000 per year. Some freelance Blockchain developers charge up to $150 per hour. It is rumored that Singapore now has several millionaire Blockchain developers- they were paid in Ethereum and with the price of Ethereum skyrocketing the way it has, several of them have turned millionaires.
What’s the point you ask? Learn Blockchain, if you are the engineer. Learn how to write smart contracts, develop Distributed Applications on Blockchain. There are now 14 job openings for every one Blockchain developer. I am sure you do not need more statistics to get convinced of the value of being a Blockchain developer.
But just in case you do need more data, here’s another. Nick Szabo who is continually suspected of being none other than Satoshi Nakamoto points out there is an “extreme $/knowledge” ratio in the Blockchain space, where capital by far outpaces talent.
What skills do Blockchain developers need?
There a tonne of Blockchain related roles that businesses are hiring for. Hiring needs range from leading experts with experience of creating and running distributed ledger systems in production to the developer churning away on the terminal writing hundreds of lines of code every week.
A typical large company builds a team around a core of Blockchain experts. These guys are expected to understand the principles around Blockchain systems in addition to possessing strong software development or engineering skills.
Remember though that Blockchain is just one piece of the jigsaw that a typical technology stack is. Networking or security engineers, UI/UX developers etc. will all continue to play a vital part. They will drive in into the workplace in smaller cars though, compared to the Blockchain engineers. Now, a big car is not everything, is it?