The impact of blockchain technology on the global economy is going to be significant. The World Trade Organization released a report in November 2018 that analysed just how much it could transform world trade.
The report claims that blockchain technology’s economic value-add on a global scale could reach almost $3 trillion by 2030.
The expansion of blockchain technology leads to more blockchain jobs
Research in October 2018 by Glassdoor revealed that demand for blockchain technology engineers has grown globally. In the US alone, unfilled blockchain-related jobs had increased by 300% compared to the previous year.
August 2017 saw 446 job vacancies for blockchain experts, while the same month in 2018 featured 1,775.
Average blockchain job salaries
The same research from Glassdoor revealed salaries range from $36,000 (£27,700) for entry-level positions to over $200,000 (£153,700) for more experienced and senior roles.
Blockchain skills
The growth of blockchain and blockchain jobs is also causing a rapid evolution of skills. In the US, Upwork.com reports blockchain is the fastest growing skill recruiters are looking for.
“Blockchain topped the list as the fastest-growing skill in Q2 of 2018 out of more than 5,000 on Upwork.com for the second consecutive quarter,” the recruitment firm from California says on its website. “Its year-over-year growth has exceeded 2,000% for the past four quarters, and it experienced more than 3,500% year-over-year growth in Q2.”
A global trend
In August 2018, Hong Kong revealed new immigration rules. These will be applied to jobseekers who have specific experience and knowledge of blockchain technology.
Growth of university courses
All of this has a knock-on effect on the education industry, with universities and training facilities around the globe increasingly offering blockchain technology related courses and degrees. According to research from cryptocurrency exchange Coinbase (November 2018), 42% of the world’s top universities are now offering courses related to blockchain or cryptocurrency.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.