People Working in Blockchain Sector Up by 76%, Demand for Tech Talent

People Working in Blockchain Sector Up by 76%, Demand for Tech Talent

People working in the blockchain industry have gone up by 76% year-on-year as of June 2022, a study undertaken by the professional networking platform Linkedin and the crypto trading app OKX has disclosed. The study also reveals there is "a large gap in demand for technical talent in the global blockchain talent pool."

China is Among the Top Ten Countries with the Lowest Growth Rate

According to the findings of a study undertaken by the professional networking platform LinkedIn and crypto trading app OKX, "the total number of people working in the blockchain industry among LinkedIn’s worldwide members went up by 76% year-on-year as of June 2022." The findings also show the United States, along with India and China, as the top three countries for blockchain talent globally.

In terms of the growth rate for blockchain talent globally, the study determined India to be the highest-ranked country, with a growth rate of 122%. Canada is next with 106%, while Singapore is in third place with a growth rate of 92%.

In Nigeria, the blockchain talent growth rate was 81%, the fourth-highest globally and the highest in Africa. Among the top ten global blockchain talent-gathering countries, China had the least growth, at 12%.

The Gap in Demand for Tech Talent

In the context of blockchain job postings, Canada had the highest growth rate of 560%. Singapore is a distant second with a growth rate of 180%, while India is ranked third with a growth rate of 145%. The United States and Germany, which both saw an 82% increase in the number of blockchain job postings, are tied in fourth place.

The composition of talent in the blockchain industry is quite fascinating. The Linkedin/OKX study found finance talent to have the highest percentage at 19%. Engineering talent accounts for the next highest, at 16%. Business development, IT, and sales talent complete the top five list with 6% each.

Blockchain Talent Pool

"There is currently a large gap in demand for technical talent in the global blockchain talent pool. Till June 2022, engineering talent topped the global demand for blockchain talent, followed by IT. Product management, marketing, and human resources were close behind. The finance category, which currently ranks first in terms of blockchain talent, was sixth in terms of hiring demand."

The study report also acknowledges that one of the consequences of the demand for blockchain talent outstripping supply has been the "global blockchain talent mobility [that] is characterized by short tenure and high talent turnover."