Study: Number of People Working in Blockchain Industry Went up by 76%, Large Gap in Demand for Technical Talent Exists

The number of people working in the blockchain industry went up by 76% year-on-year as of June 2022, a study undertaken by the professional networking platform Linkedin and the crypto trading app OKX has found. The study also found there is “a large gap in demand for technical talent in the global blockchain talent pool.”

China Top Ten Country With Lowest Growth Rate

According to the findings of a study undertaken by the professional networking platform Linkedin, and crypto trading app OKX, “the total number of people working in the blockchain industry among LinkedIn’s worldwide members grew by 76% year-on-year as of June 2022.” The findings also show the United States along with India and China as the top three countries for blockchain talent globally.

In terms of the growth rate for blockchain talent globally, the study determined India to be the highest-ranked country with a growth rate of 122%. Canada is next with 106%, while Singapore is in third place with a growth rate of 92%.

In Nigeria, the blockchain talent growth rate was 81%, the fourth-highest globally and the highest in Africa. Among the top ten global blockchain talent-gathering countries, China had the least growth, at 12%.

Gap in Demand for Tech Talent

With regards to blockchain job postings, Canada had the highest growth rate of 560%. Singapore is in a distant second with a growth rate of 180%, while India’s growth rate of 145% puts it at number three. The United States and Germany, which both saw an 82% increase in the number of blockchain job postings, are tied in fourth place.

Concerning the composition of talent in the blockchain industry, the Linkedin/OKX study found finance talent to have the highest proportion of people, at 19%. Engineering talent accounts for the next highest proportion at 16%. Business development, IT, and sales talent complete the top five list with proportions of 6% each.

As to the large gap in demand for technical talent, the study’s report said:

“There is currently a large gap in demand for technical talent in the global blockchain talent pool. Up until June 2022, in terms of job postings, engineering talent tops the global demand for blockchain talent, followed by IT talent. Product management, marketing and human resources are close behind. The finance category, which currently ranks first in terms of blockchain talent, is only sixth in terms of hiring demand.”

The study report also acknowledges that one of the consequences of the demand for blockchain talent outstripping supply has been the “global blockchain talent mobility [that] is characterized by short tenure and high talent turnover.”