Why Blockchain Engineers are in Demand?May 20, 2019
There is a massive demand for blockchain training and talent and there is plenty of capital waiting to back it up. More than $3.7 billion has already been gathered through Initial Currency Offering (ICO) in the United States alone. Jobs in the blockchain sector are growing rapidly and according to the survey, there are now about 14 to 15 job openings for every one blockchain developer. According to Nick Szabo, the developer of “Smart Contracts” there is a massive dollar to knowledge ratio in the blockchain space where capital outpaces talent.
Total – a marketplace for tech talent, is publicly releasing their blockchain engineering talent out of private beta. The total represents about 50 percent of engineering labor by revenue in today’s software development landscape. The demand for blockchain engineers has grown more than 700 percent since January 2017.
According to their records, almost 50 percent of the completely managed software development projects require blockchain skills. According to Toptal, if the requests are properly divided, it is possible to improvise on the blockchain development languages and knowledge areas that are increasing in demand.
Toptal’s founder and CEO, Tase Du Val is of the opinion that this paves way for some predictions on the blockchain development at large. Different types of contracts, according to him are going to be disrupted first and this disruption will mostly happen in the deals made that require complex contracting or even asset management.
Payments are complicated and to work at scale, asks for the Central Banks and Governments to sign-off. According to him, payments won’t come first and contracts can do without a sign-off, as they are a lower barrier to entry. The contracted space gets disrupted first as they are less regulatory hurdles.
The need for on-demand blockchain talent today is super high. Just the previous year, Upwork, which is a freelance talent market place, saw a massive rise in the blockchain which was registered as the fastest growing skill out of more than 5 – 6000 skills in terms of freelance work. These were spread over ICO advisory services, various engineering projects, and overall blockchain consultancy.
Toptal’s release of blockchain engineering talent in its freelance market might also pave the way for other great things. It can assist with the blockchain ecosystem, development overall by cross-pollinating projects as on-demand engineers share knowledge from one project to the other. Moreover, it can also help for the overall growth of the blockchain talent pool through Toptal’s engineering skill development program that will in-turn help their existing pool of engineers to be up-to-date on the blockchain.
The blockchain engineers of Toptal are working on projects like the Hashgraph which looks into scalability issues on blockchain integrations alongside big public companies like SinglePoint. In turn, all the clients who use Total for their projects and their remote workforce that span over 100 countries, gestures the further development of blockchain engineers with actual applied experience, allowing their clients to even hire them for a contract-to-hire fee.