Blockchain Industry Workforce Grows 80% This Year, Study Shows

Blockchain technology is one of the most fashionable developments in business, finance, and many other industries. Following the rise in popularity of cryptocurrencies, new investment strategies and opportunities have been made available for entry to the public.

The increasing popularity of blockchain and cryptocurrencies has led to an increase in the number of people who have found employment in this growing technology sector.

According to the conclusions a survey led by professional networking site Linkedin and cryptocurrency trading app OKX, the number of people working in the blockchain sector has grown by 76% year-on-year «since June 2022.»

Blockchain Space Expanding at a Faster Rate

Since its inception a little over a decade ago, the blockchain sector has grown tremendously, but the rate of development has accelerated significantly in recent years.

Although the industry and its growth are often evaluated based on market capitalization, trading volume, and other financial criteria, the businesses that make up this sector are led and managed by people with a wide range of skills.

The United States, India, and China are the top three nations for the availability of talent in the blockchain business, according to the research.

India ranks second in terms of the number of competent professionals in various types of such applications, including cryptography and financial applications.

In terms of blockchain talent, India trailed the United States, while China came third overall. On the other hand, India has been identified as the fastest growing nation in terms of availability and growth of competent specialists, with a 122% annual growth rate of its talent pool.

Canada continues with a growth rate of 106%, followed by Singapore with a growth rate of 92%.

Nigeria has the fourth highest talent development rate in the world and Africa at 81%. China has the lowest growth rate among the world’s top 10 nations for blockchain talent, at 12%.

Global Blockchain Market To Achieve $20 Billion Revenue

The global spending on blockchain solutions is expected to reach $11.7 billion this year. By 2024, the worldwide blockchain technology market is expected to generate $20 billion in revenue. The number of registered wallets exceeded 70 million in the second quarter of 2021.

Regarding the talent mix in the industry, the Linkedin/OKX survey concluded that the share of financial talent is the highest, almost 20%.

Meanwhile, at 16%, engineering talent represents the second largest proportion. Talents in business development, information technology, and sales rounded out the top five with an average of 6%.

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