A market to watch: Why it’s never been a better time to work in crypto

Allow me to let you in on an industry secret — 2018 is going to be an extraordinary year for the blockchain space. As regulatory agencies and crypto companies collaborate on substantive policy surrounding mainstream applications in the space, the industry will achieve long-term stability, and its underlying blockchain technology will become broadly used by startups and existing enterprise alike.

In preparation for future growth, I posit that it’s never been a better time to enter the industry. Crypto startups that once comprised of a few individuals with little more than a vision are now transitioning into full-fledged companies, with developed mission statements and value propositions. In fact, more money was invested in crypto companies in the first half of 2017 than in the entirety of 2016 combined. What’s more, statistics from indeed.com indicate that the number of available blockchain jobs have increased by 207 per cent in 2017, with a 631 per cent increase since November 2015 alone.

There are a few reasons for this incredible growth. First and foremost, this past year has seen a meteoric rise in the valuation of cryptocurrency. Between April 4, 2017 to April 4, 2018, Bitcoin has increased by 604 per cent in price, with a 645 per cent increase in market capitalization. These statistics correlate directly with job interest. At the end of 2017, job searches on indeed.com for cryptocurrency reached an all-time high at 46 searches per million — representing a 52 per cent increase in blockchain and cryptocurrency related searches from June to November 2017.

Admittedly, the industry experienced market devaluation in the first quarter of this year, but the shift will not be significant enough to slow its otherwise tremendous momentum in the long term. And while the value of cryptocurrencies may fluctuate, the value of blockchain technology will remain steadfast. Indeed.com searches for blockchain reached an all-time high in February, and experience in the space continues to rank second among the top 20 fastest-growing job skills sought by hiring managers. It’s not just startups that are looking for interested candidates either; major multinationals such as JP Morgan, Uber, eBay, and Geico have all entered the market looking for talented developers.

But what’s perhaps most exciting about the current state of the industry is that you don’t have to be intrinsically tech savvy to be seen as an ideal candidate. As with any budding tech industry, crypto companies need individuals with soft skills (e.g., communications, business development, and law) to provide diverse perspectives to their growing teams. The most important attributes you can bring to the table are a genuine interest in blockchain, a demonstrated ability to adapt, and a willingness to learn on the job. The world of cryptocurrency is rapidly evolving, and industry leaders are looking for great minds to evolve with it.

Wachsman was created with this in mind. What started as a one-man shop in 2015 has since grown to employ 65 leading industry professionals across two offices in New York City and Dublin. We’ve worked hard to build a professional services agency with experts able to assist companies across the globe as they solve long-standing problems and overcome seemingly impossible technical hurdles with blockchain.

The time to apply is now. As mainstream companies in every industrial sector begin to explore new business ventures in the space, interested candidates have a unique opportunity to position themselves ahead of an evolving employment prerequisite: a sophisticated understanding of the most important technology in a generation. Although crypto markets may be volatile, one thing is for certain: the future for employment in cryptocurrency and blockchain is bright.

 

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