The cryptocurrency world is moving so fast that a lot of people cannot keep up with it. As a result of this, talent development needs to be upgraded in the cryptocurrency space. In fact, cryptocurrency developers and entrepreneurs within the space itself are concerned that the industry is lacking the necessary talent needed to bring the next level of change. With the rate of change that cryptocurrencies are in, the skill sets available today may no longer be relevant in just a matter of a few years. Although so, there have been sources denying that the cryptocurrency space lacks the necessary talent.
The main concern is that those who are capable of filling these roles may lack the necessary education or connections to reach the right company. Is it possible for the cryptocurrency space to have more capable hands running these powerful innovations?
In a recent survey, it was revealed that most Bitcoin investors are between 18 and 34 years old. Therefore, this range provides a good idea of people who may have the potential to increase the value within the cryptocurrency space. In this regard, cryptocurrency companies and blockchain start-ups want to recruit talented individuals who can develop the technology that the company is building. Understandably, these individual don’t have to have an extensive level of understanding in cryptocurrency, but it would be great if they could integrate cryptocurrency components to the theories that they have previously learned. Therefore, this will create a more innovative workforce that can enable the creation of a smarter cryptocurrency space.
In the cryptocurrency industry, there is a possibility that the technologies it creates can increase the accessibility to virtual education opportunities. Individuals who lack the necessary education for cryptocurrency now have access to different platforms around the world, allowing them to learn in detail about cryptocurrency’s specific niche. This will benefit them when they want to search jobs within the space. The increasing availability of e-learning utilities on the Internet can create a more educated workforce in the cryptocurrency space.
Therefore, anyone looking to join the cryptocurrency workforce should consider going online to learn more about the space through e-learning. On top of that, these e-learning platforms can teach individuals a new skill that may not be available on a huge scale in the cryptocurrency world.
Companies fighting for talent
As the blockchain continues to grow at a fast-paced rate, companies can expect that the regulators around the world will intervene in their daily operations as more countries are trying to regulate the space. On top of that, there is a proliferation of blockchain and cryptocurrency within the market, which only means that there is an increased amount of talent required to handle these innovations. Leadership roles within the space are important as they determine the future direction of a company or a cryptocurrency.
When it comes to the latest war for talent, there are several factors that businesses have to take into account. One of the things is that they need to consider the impact on the current global labor market and which professional skills can address the gap in the market today. Nations that are resisting the growth of blockchain in cryptocurrencies may be losing out on an important competitive advantage that can propel their economy against other economies. As more top talent are looking to enter into this industry, they will simply move to another industry where they can provide their skills.
Nations also stand to lose out by not adopting the use of blockchain and cryptocurrencies into the country, because they won’t be able to collect taxes from the company’s corporate and personal income tax. The implications of not adopting this industry into a country are obvious because the top talent will naturally go to another country or another region where their talents are valued.
For individuals, it is important that they equip themselves with the necessary skills to be appealing to cryptocurrency and blockchain companies. For instance, some companies are searching for specific skill sets that combine the use of blockchain and cryptocurrencies in their resume. It is no surprise that larger corporations such as Starbucks, Google, and Amazon are looking into cryptocurrencies to see where they can take this innovation with their company.
On top of that, there are already large corporations approaching individuals about the possibility of hiring them into a cryptocurrency position within their company. On top of that, knowing about cryptocurrencies is also an added plus when working with companies as more of these corporations want to explore the capability of this innovative solution.
So, where are all the talents in cryptocurrencies concentrated?
There is a clear problem within the cryptocurrency market today. The blockchain start-ups and companies that want to incorporate the blockchain need someone to steer the direction where cryptocurrencies and the blockchain can go within their company. Therefore, this creates a demand for people who understand the nature of this innovative solution and how it can be incorporated into the company. There are top consultants in major global consulting firms who have a deep understanding of blockchains and cryptocurrencies.
Despite this, venture capitalists favor someone who is experienced in another industry and has dealt with the application of blockchain firsthand. Consultants are generally not favoured because they have not had personal experience with implementing blockchain solutions. Therefore, companies need to find a balance between someone with enough experience and finding someone who they can rely on for blockchain implementations within the company and across industries.
With the increased amount of demand for these talents, it is no surprise that some of the main US universities such as Princeton, Duke, and MIT have introduced blockchain courses for their undergraduates. Corporations are already adopting non-executive advisory roles to assist them in their day-to-day operations and provide valuable input about the technology.
Finance experts moving to crypto
There is also a good reason to believe the cryptocurrency space can take over the payment sector. This is because finance experts are quickly moving into the cryptocurrency industry. Although this is not mainstream yet, it is already a trend that is ongoing in the market. Therefore, financial institutions have another thing to worry about because the cryptocurrency industry is taking away their best assets in the business to develop something that can potentially disrupt their business model.
The good news for people who are searching for a job in the cryptocurrency world is the fact that the opportunities in the market are not very difficult to come by. In fact, most companies tend to post vacancies or new job rules to people. As regulation increases within the cryptocurrency space, there will be an increased demand for specific job roles, which will focus on legality and compliance. Therefore, there will always be other jobs in the cryptocurrency market.
For finance graduates, this is good news because most cryptocurrencies companies are searching for people who have the expertise. In fact, the accounting and investment banking part of their firm is highly important for finance graduates to fill.
A good example of this shift for finance experts to the cryptocurrency world comes in the form of a recent announcement that Coinbase made. In fact, they hired an employee from the New York Stock Exchange. By doing this, they increased the legitimacy of their platform and looked to the prospect of maturing the cryptocurrency industry.
Blocktower, a cryptocurrency hedge fund, has attracted the attention of institutional investors. As hedge fund investors are not exactly interested in the cryptocurrency space, this is a huge programme. Unlike what some people may think, the finance sector and cryptocurrency can coexist peacefully. In fact, we will still require a centralized bank institution for years to come as cryptocurrency is nowhere close to being a payment processor or an established financial system like central banks.
How can you secure a job in the cryptocurrency market?
One of the ways that you can do this is by taking up classes and completing skill development opportunities to make your resume more appealing. However, this has been a source of concern for people in the tech recruiting world. As more blockchain companies and tech companies are searching for people to hire, they get flooded with resumes of unqualified candidates. On top of that, contacting references is highly tedious if job candidates are dishonest in their job application.
One important tip when sending your resume is ensuring that it will fit in into one whole page. Most of these companies already have a lot of resumes to go through. In fact, a lot of companies are already incorporating the use of blockchain to keep track of the credentials and records of an individual. Blockchain opens up an opportunity to create a new type of resume that automatically records the educational credential and professional requirements of an individual without having to go through it repeatedly. Therefore, job seekers can share information with people who are seeking their skill set.
Using micropayments to source talents
AI Gaming is another platform that enables education and collaboration. For users who have a certain level of artificial intelligence and coding experience, they can participate in the crowdsourced challenges, generated by partner companies, that the platform has to solve. This is another way that you can improve your knowledge in the cryptocurrency world, and an incentive for you to do this is because the success of completing the problem will enable you to receive a crypto payment.
This brings about the aspect of micro-payments that cryptocurrencies can do so well. In fact, the blockchain ledgers available within the platform keep track of people and provide good solutions within their environment. Therefore, these blockchain records can record contribution levels of each of the user. In the blockchain community, the presence of micro-payments can be very important. This is because a company may not be able to afford one developer to tackle a particular problem that they are having. Therefore, micro-payments present a solution to open up space for people to solve a particular problem by receiving a one-time payment without having to commit to the company.
Therefore, the aspect of micro-payments can enable blockchain start-ups to crowdsource for solutions from all around the world. As the process of hiring people can be very expensive, having a crowdsourcing solution for participation will enable the company to receive a diverse amount of solutions for their problem and even allow beginners to test out their knowledge in the cryptocurrency world.