The Bitcoin is in the news again, but this time it is in the news for very different reasons. According to an article published by Bloomberg this weekend, there is a whole new job market that has opened up now – the cryptocurrency job market.
According to data published by LinkedIn, postings about jobs related to bitcoin in comparison to the total number of jobs listed on LinkedIn have surged more than 9 times in the financial services industry since 2014, and more than 4.6 times in the software development section. While the financial services jobs related to bitcoin are growing faster, 70% of all bitcoin related jobs are still in the software development segment.
Additionally, as the cryptocurrency becomes more and more legitimate and mainstream, more and more people are beginning to list it as a skill on their LinkedIn profiles. Compared to 4 years ago, the number of people listing cryptocurrency related skills in their bios has gone up more than 28 times. The number of people who have claimed bitcoin as a skill has also grown 5.5 times.
CNBC’s article focuses on the impact of bitcoin, cryptocurrencies and blockchain on the American business schools. According to the CNBC article, a growing body of students graduating from elite business schools are opting to find jobs in the blockchain market rather than traditional finance markets. In fact, students from campuses like Harvard, Wharton and Stanford have asked for more classes about blockchain and cryptocurrencies.
In fact, top business schools are now under pressure to give more time, resources and classes to this new technology. Stanford has launched its first class on blockchains and cryptocurrencies, which is going to be taught by former fed prosecutor for the US Justice Department, Katheryn Haun, who had to frequently focus on digital currencies and fraud. Harvard Business School also had a similar story to tell. Students from the elite institute founded a club that focused on Bitcoins, cryptocurrencies and the blockchain. A tech club like this usually would not get more than 30 members is now bursting at the seams with almost 800 students. A Harvard professor is also planning on integrating blockchain into his entrepreneurship class. Wharton’s blockchain club numbers more than 300 members and the school is planning to introduce a blockchain course in 2018.
According to CNBC, data from Upwork, a freelancing online job site, showed that blockchain was the second most frequently added skill out of more than 5,000 skills listed on their platform. According to Upwork, there was a 2,653% jump in freelancer billings vis-à-vis the same time period in 2016.
The increased interest in the cryptocurrency market and blockchain was most apparent with the launch of the first ever Crypto Conference held at a hotel ballroom in Manhattan, New York earlier this week. The conference was dedicated to institutional investments and analysts, investors and finance gurus gathered to discuss the next steps for this new market and industry.
While nay-sayers are sure that the bitcoin and cryptocurrency bubble is set to burst, the sheer size of the cryptocurrency market and its potential for generating profits have become too huge for mainstream investors and analysts to turn a blind eye to.
Interest in bitcoin (since it was the first) started with nerds, the illegal underground and hobbyists, the cryptocurrency is now fast becoming the playground of the rich, venture capitalists as well as retail investors and even banks.
While the industry still needs more regulations and security, its entry into the mainstream is now pretty much guaranteed.