Despite the year-long bear market that has seen the prices of major cryptocurrencies drop 70 to 80 percent, the demand for blockchain developers is still at an all-time high.
According to Mehul Patel, the CEO of San Francisco tech talent recruitment firm Hired, the demand for the blockchain has increased significantly in the past several months. The supply of software engineers is already low, and individuals that are well versed in the cryptocurrency sector are even more scarce.
“There’s a ton of demand for blockchain. Software engineers are in very short supply, but this is even more acute and that’s why salaries are even higher.”
Interview Requests Every Day
Speaking to CNBC, software engineer Dustin Welden, who currently works as an engineer for Globys, stated that immediately after he changed his job title from software engineer to principal blockchain engineer, he began to receive interview requests from both startups in the blockchain sector and major conglomerates on a daily basis.
Welden said:
“When my title became ‘principal blockchain engineer,’ it became relentless. I get interview requests every day on LinkedIn now.”
For large-scale conglomerates like IBM, Deloitte, and Microsoft, it is of utmost importance to form a competent team that is able to expose the conglomerate to the blockchain sector when the time is right.
To enter an emerging sector in a timely manner, corporations need to have individual talent in place to swiftly push the venture of the firm into the market.
Hired CEO Patel emphasized that the mindset of conglomerates to plan a long-term strategy to target the cryptocurrency sector has led to an increase in demand for distributed ledger technology engineers.
“There’s a mindset here of taking a long-term view of planning. If you’re going to build blockchain technology, you have to get that talent.”
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