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Workforce in the blockchain sector grows by 80%

Blockchain technology is one of the most popular trends in business, banking, and many other industries this year, according to a study. As a result of cryptocurrencies’ recent popularity spike, new investment opportunities and techniques have emerged.

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

The results of a poll by the professional networking site Linkedin and the cryptocurrency trading app OKX show that as of June 2022, the number of people employed in the blockchain industry “grew by 76% yearly.”

The blockchain industry has grown tremendously since it first emerged a little more than ten years ago, but in recent years, the pace of growth has significantly accelerated.

The companies that make up this sector are led and managed by people with a variety of abilities, despite the fact that the business and its development are typically assessed based on market capitalization, trading volume, and other financial factors.

In terms of the amount of knowledgeable professionals in these applications, including cryptography and financial applications, India comes in second. India lagged behind the US in terms of blockchain skill, with China taking third place overall. India, on the other hand, was noted as the fastest-growing country in terms of the availability and expansion of qualified professionals, with a talent pool that is increasing at a rate of 122% annually. Singapore comes in second with a growth rate of 92%, then Canada comes in third with a growth rate of 106%.

At 81%, Nigeria has the fourth-highest talent development rate in the world and in Africa. With a 12% growth rate, China ranks last among the top 10 countries in the world for blockchain talent. This year, it’s expected that the total cost of blockchain solutions would be $11.7 billion. The global blockchain technology market is projected to produce $20 billion in sales by 2024. In the second quarter of 2021, there were more than 70 million registered wallets.

According to the Linkedin/OKX survey, the finance sector has the largest percentage of talent in the industry, at about 20%. Engineering skill, on the other hand, ranks second with 16% of the total. Sales, information technology, and business development skills round out the top five with 6% each.