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US Leads in Blockchain-Related Job Offerings Globally: Report

A recent report from TNW shows that the U.S. leads the world in blockchain-related vacancies.

The United States is the world’s leader in blockchain-related jobs, according to a research by The NextWeb (TNW) published on March 8.

To prepare the report, TNW gathered information from job and recruiting site Glassdoor, finding all the job offerings that had the term “blockchain” in the job listing in countries around the world.

The results reportedly showed that the U.S. is leading the world in terms of blockchain-related jobs, having about half, or 2,616, of a total of 5,711 blockchain jobs listed on Glassdoor globally. The U.S. is followed by the United Kingdom, with 1,015 blockchain-related job ads, while India has taken the third place, with 257 vacancies.

Among the most common jobs posted on the site, “Blockchain Engineer” takes the lead. Such positions as “Senior Software Engineer” and “Blockchain Developer” are the second and third most popular job titles, respectively.

TNW also made a list of companies offering blockchain-related vacancies, wherein tech giant IBM reportedly offers the greatest number of blockchain jobs, and is followed by Big Four accounting firm Ernst & Young and software company Oracle.

In the top 10 companies, only three are reportedly related to digital currencies, which are Foris Limited,, and Wirex. Payment startup Ripple is on the 17th line, and blockchain software tech company ConsenSys is the 13th.

In February, recruitment company Hired released a report showing that the global demand for blockchain engineers is up by 517 percent year-over-year. The second-fastest growing software engineering role is security engineer, with 132 percent growth, and third is embedded engineer, up 76 percent. The blockchain engineer role also consistently stayed among the top-three most-paid software engineering jobs in the various cities covered in the report.

That same month, experts and industry players said that the adoption of blockchain technology is still in its early stages at the annual meeting of The Wall Street Journal CIO Network. Although enterprise blockchain technology has found its practical use, its new applications are not large scale, according to Christine Moy, executive director and head of the blockchain center of excellence at JPMorgan Chase.

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Global Demand for Blockchain Engineers Up 517 Percent in a Year, Says Hired

Global demand for blockchain engineers is up by 517 percent year-over-year, according to the report.

The global demand for blockchain engineers is up by 517 percent year-over-year, according to a report released by recruitment company Hired on Feb. 28.

The document also notes that the second-fastest growing software engineering role is security engineer, with 132 percent growth, and third is embedded engineer, up 76 percent. The blockchain engineer role also consistently stayed among the top-three most-paid software engineering jobs in the various cities covered in the report.

Specifically, blockchain engineering is the second most-paid software engineering specialization in New York and London, the third in the San Francisco Bay area and Toronto, and the first in Paris. The average of the average salaries that blockchain engineers receive in the aforementioned cities is $105,400.

The San Francisco Bay area is the location with the highest salaries, $155,000 on average, while Paris comes in last, with blockchain engineer salaries averaging around $67,000.

As Cointelegraph reported in October last year, the average earnings of a blockchain engineer have soared to between $150-175,000 per year.

A study published by recruiting site Glassdoor in the same month found that crypto and blockchain-related job opportunities significantly increased in the United States in 2018, despite the slump in cryptocurrency prices.

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Better Than Corporations: Layoffs in Crypto Are On the Rise, Still Lower Than in Other Industries

Job cuts have become a reality in the crypto industry – but they pale in comparison to the biggest corporate layoffs in history.

Since Bitcoin hit its all-time high of $20,000, the dominant cryptocurrency has seen more than an 80 percent decline in value from that historic milestone over the past 12 months.

The popularity of Satoshi Nakamoto’s Bitcoin pioneered the way for other projects to explore the possibilities of blockchain technology. The brightest minds pushed the boundaries, which gave birth to Ethereum, Ripple and other projects that have provided new and unique use cases for distributed ledger technology (DLT).

Their success set the bar high, but that also led the way for a swathe of projects being launched which sought funding from initial coin offerings (ICO). Not unlike the dot-com bubble of the 1990s, hundreds of millions of dollars were raised by projects with half-baked ideas, and now it seems as though the hens have come home to roost.

According to a report published in July 2018, over 1,000 ICOs had been declared ‘dead’ while bigger projects began to slim down their operations to ensure they remain cost-effective and profitable.

Tightening the belt

Over the last two months, a couple of businesses have announced that they would be streamlining their operations.

At the beginning of December, a blockchain software startup and incubator ConsenSys headed up by Ethereum co-founder Joseph Lubin, announced plans to restructure its business.

Lubin revealed the plans in a letter to the staff of the company, calling the new chapter in the company ‘Consensys 2.0.’ It reportedly entails a more revenue-driven approach.

“We must retain, and in some cases regain, the lean and gritty startup mindset that made us who we are. We now find ourselves occupying a very competitive universe […] to ‘succeed wildly’ […] we must recognize that what got us here will probably not get us there, wherever ‘there’ is.”

Given that ConsenSys invests and helps startups building applications on the Ethereum blockchain, Lubin also made it clear that the company would become far more rigorous with projects under their care and wouldn’t hesitate to dissolve projects that may have looked promising at their inception.

As far as staff cuts go, ConsenSys has confirmed that it would reduce its workforce by 13 percent.

As a crypto industry investor Anthony Pompliano summed up in a recent newsletter, Lubin has taken a tough but necessary course action to take control of proceedings in trying times:

“Joe Lubin is a smart, ambitious guy. He has been at the forefront of many technology trends and built one of the most important companies in crypto. While unpleasant, it is encouraging to see him and his team making the hard decisions to put the business in a better position for future growth. Great leaders have to make the tough calls — I’m sure this one wasn’t easy.”

Like Bitcoin, Ethereum has endured a monumental correction from highs above $1,400 in 2017. It is currently trading at around $94.

Cointelegraph has reached out to Consensys for comment but has not received in by the press time.

Worst-case scenarios

While ConsenSys is adopting what Lubin has described as a “lean and gritty startup mindset,” other companies have had to take far more drastic measures to downscale their operations.

Social network Steemit announced at the end of November that it would be laying off over 70 percent of its staff as a direct result of the severe market conditions affecting cryptocurrencies across the board.

The decentralized platform, which runs on the Steem blockchain, has felt the pinch alongside the rest of the industry. Steemit CEO Ned Scott addressed the challenges in a video, citing a decrease in fiat currency returns from STEEM sales, the platform’s native cryptocurrency, as well as the running cost of Steem’s nodes.

In addition to the staff cuts, the company is looking at a number of technical changes in order to further reduce running costs.

The harsh market climate has taken its toll, considering that Steem once had a market capitalization of over $400 million in May 2017.

Blockchain, Bitcoin jobs on the rise

Even in this harsh slump, the outlook seems positive for the space in general. According to a LinkedIn study, blockchain developers are in high demand on the platform, becoming one of the fastest-growing emerging jobs in the United States.

Over the past three years, jobs relating to blockchain, Bitcoin and cryptocurrency have been on the rise on LinkedIn.

Facebook, for one, with its chequered attitude toward cryptocurrencies, listed five openings for blockchain-related jobs on its career portal earlier this month.

These jobs seem to be extremely lucrative, given the spike in interest in the space over the past two years. Blockchain engineers are said to be earning more than $150,000 a year.

Hired’s “State of Salaries” report also noted a 400 percent increase in demand for blockchain engineers by prospective employers since 2017, all despite the bear market that has dominated in 2018.

Crypto layoffs pale in comparison

According to data from Challenger, Gray & Christmas, an outplacement company, November saw an uptick in the amount of looming job cuts in different industries in the U.S.

As a sign of the times, Challenger cited General Motors move to cut 15 percent of its workforce — which equates to around 14,000 jobs — in October, a move that would reportedly save about $6 billion.

The company’s vice president, Andrew Challenger, believes that data collected by Challenger shows that the current economic climate is not helping matters:

“Monthly job cut announcements averaged under 35,000 in all of 2017 and just under 44,000 in 2016. In 2018, cuts are averaging nearly 45,000 per month, with the last four months averaging over 55,000. This upward trend is indicative of a potential economic shift and could spell a downturn.”

In comparison to more significant job cuts around the world, the current slump in the cryptocurrency markets and ensuring job cuts in associated companies seems relatively benign.

In 2015, The Washington Post published an article that took a look at the biggest job cuts in history by some of the biggest corporates around the world, according to data from Challenger.

IBM’s layoffs in 1993 are still ranked as the highest in history, with 60,000 jobs cut. Citigroup, Sears, Roebuck & Co, and the U.S. Army each cut over 50,000 jobs at different stages, but these job cuts put most others in perspective.

An objective view

As previously mentioned, one can draw similar parallels between the rise of internet companies in the 1990s and the rise of cryptocurrency- and blockchain-focused companies from 2010 onward.

Mainstream media headlines have often proclaimed the death of Bitcoin and cryptocurrencies over the past few years.

As an article from the Guardian back in December 2000 summed up, the year the dot-com bubble burst saw around 130 internet companies close their doors, leading to around 8,000 job cuts from internet companies. However, those that survived ended up laying the foundation for the cryptocurrency and blockchain industry we have today.

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LinkedIn Report: Blockchain Developer Leads List of Most Rapidly Growing Jobs

LinkedIn has released a report showing that the role of blockchain developer is the fastest growing emerging job in the U.S. this year.

The role of blockchain developer is the most rapidly growing emerging job in the United States, according to the 2018 U.S. Emerging Jobs report by LinkedIn released on Dec. 13.

In the course of preparing the report, LinkedIn used data from its Economic Graph to analyze the positions that companies are hastily hiring for, as well as skills related to those positions and roles that have emerged over the past five years.

The professional social network found that the role of blockchain developer has registered an increase of 33 times in the past 12 months, while cities with the highest demand are San Francisco, New York City, and Atlanta. Among major skills required for the role, LinkedIn notes solidity, blockchain, Ethereum, cryptocurrency, and Node.js.

This year’s top emerging jobs also include artificial intelligence (AI) specialists, wherein “six out of the 15 emerging jobs are related in some way to AI,” and machine learning engineers, with 12 times growth year-over-year. For the latter roles, LinkedIn names deep learning, machine learning, tensorflow, Apache Spark and natural language processing as major required skills.

As Cointelegraph previously reported, 645 vacancies tagged with the words “blockchain,” “Bitcoin,” or “cryptocurrency” were published on LinkedIn in 2016. By 2017, the number surged to around 1,800 and to 4,500 vacancies by mid-May of this year. As of recently, LinkedIn’s search system displays 13,816 records related to blockchain and 2,479 records related to cryptocurrency.

A report prepared by job review site Glassdoor shows that as of August 2018, U.S. companies had posted 1,775 vacancies related to blockchain technology, which is three times more compared to the previous year. 79 percent of the vacancies are concentrated in the 15 largest American cities, and the most saturated demand regions show that New York and San Francisco account for 24 percent and 21 percent of the total number of crypto-industry job offers.

Social network Facebook listed five new blockchain-related jobs on its careers page within the past three weeks. In the job description for blockchain engineer at the Facebook Blockchain Data Engineering team, the ad characterizes the position as technically and intellectually challenging work, which “will have massive global impact.”

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Facebook Seeks Blockchain Talent for Five New Company Roles

Facebook has listed five new blockchain-related jobs on its careers page within the past three weeks.

Facebook has listed five new blockchain-related jobs on its careers page within the past three weeks, two of which were first listed Dec. 5 and 6.

The positions currently open for applicants are two software engineer roles, a data scientist post and a data engineer — all full-time roles at the company’s headquarters in Menlo Park, California.

In the job description for blockchain engineer at the Facebook Blockchain Data Engineering team, the ad characterizes the position as “technically” and “intellectually challenging” work, which “will have massive global impact.”

The most recently-listed role — Product Marketing Lead for the Facebook blockchain team — outlines that the team is “fundamental” to the company’s “mission” of problem solving and community building, and specifically in “exploring the opportunity the blockchain will bring.“

While the precise details of Facebook’s planned or extant blockchain initiatives are kept under wraps, the ad for “Data Scientist, Blockchain” indicates that:

“We’re exploring areas of interest across all facets of blockchain technology. Our ultimate goal is to help billions of people with access to things they don’t have now — that could be things like equitable financial services, new ways to save, or new ways to share information.”

The ad for the two “Software Engineer, Blockchain” roles indicate that blockchain specialists joining the existing Software Engineering (Infrastructure) team would help to build the “large distributed components that run Facebook,” which need to scale to serve “millions of requests per second,” and to do so “with sub-second latency and in a fault tolerant manner.”

Preferred qualifications include “Experience with distributed computing (Hive/Hadoop)” (for the role of “Data Scientist, Blockchain”) and coding experience in a range of languages such as “C, C++, Java, C#, Perl, PHP, Hack and/or Python” (“Software Engineer, Blockchain”).

In early May, the head Facebook’s messaging app Messenger David Marcus — who has been a board member of major United States crypto exchange Coinbase as of December 2017 — announced the company had set up a group “to explore how to best leverage blockchain across Facebook, starting from scratch.”

In July, Facebook’s Director of Engineering of three years, Evan Cheng, joined the blockchain team to fulfil a parallel role dedicated to exploring the technology’s applications.

As reported this October, the average earnings of a blockchain engineer have soared to between $150-175,000 per year, 400 percent higher than in 2017, according to Hired’s 2018 State of Salaries Report. Hired’s report cited demand fueled by the interest of global tech giants such as Facebook, Amazon, IBM and Microsoft, all of whom are currently advertising for specialists from the emerging sector.

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Blockchain and Crypto in the Labor Market: Overview of Salaries, Taxes and the Most In-Demand Jobs

Job seekers’ interest for positions related to blockchain and cryptocurrency has declined, while employers’ interest only rose in 2018. How do cryptocurrencies prices and blockchain technology development correlate with the changes in the labor market?

Over the past months, the cryptocurrency market has been demonstrating bearish sentiment, with crypto prices falling to a yearly lows. This is making some blockchain companies rethink their business models and cut employees.

However, the slump didn’t prevent the blockchain industry from experiencing a human resources boom, as evidenced by an active growth of vacancies associated with blockchain and digital assets, according to the latest study by recruiting site Glassdoor.

Increase in demand for blockchain-related jobs

As estimated by LinkedIn analysts, 645 vacancies tagged with the words “blockchain,” “Bitcoin,” or “cryptocurrency” were published on the site in 2016. By 2017, this value has surged to approximately 1,800 and to 4,500 vacancies by mid-May of this year. As of now, LinkedIn’s search system displays 13,816 records related to blockchain and 2,479 records related to cryptocurrency.

These estimates are supported by recent data published by Glassdoor’s recruitment portal. As of August 2018, United States companies had posted 1,775 vacancies related to blockchain technology, which is three times more compared to the previous year.

As noted in the Glassdoor report, 79 percent of the vacancies are concentrated in the 15 largest American cities, and the most saturated demand regions show that New York and San Francisco account for 24 percent and 21 percent of the total number of crypto-industry job openings. The current total number of blockchain and cryptocurrency vacancies worldwide has grown to around 3,000 and 900 correspondingly.

Software developers are the highest demanded occupation, with 19 percent of vacancies published by employers seeking employees falling into this category. In addition to programmers and technical specialists in the crypto industry, there is a shortage of product managers, risk analysts and marketing specialists.

Traders and investment analysts are not among the most sought-after professionals in the crypto industry. But there are more and more vacancies for specialists in new disciplines that have appeared in the wake of blockchain technology’s popularity — “Decentralized Finance,” “Decentralized Internet,” and “Security Hardware.”

However, if taking into consideration the last three months, a fuller picture looks partially different. According to the extended analytics shared by job-search platform Indeed with Cointelegraph, from October 2017 to October 2018, job-seeker interest for roles related to Bitcoin, blockchain and cryptocurrency declined by 3 percent, while employer interest for roles related to the same terms only rose (25.49 percent), which was different than the interest levels from the year before by both parties.

If looking at data from 2016 to 2017, job-seeker interest for roles related to Bitcoin, blockchain and cryptocurrency rose by 481.61 percent, while employer interest for roles related to the same terms rose by 325 percent.

The following graph shows both the growth of job-seeker interest in jobs with these keywords and the growth of job postings for jobs with these keywords for that time period.

Today, IBM, ConsenSys and Oracle have the greatest need for qualified personnel. Each of them has more than 200 corresponding vacancies, as Glassdoor reports. They became strong competitors of the industry leaders like crypto exchanges, among which Coinbase and Kraken have the greatest need for qualified personnel. The list of major employers for blockchain professionals has also been joined by larger consulting firms Accenture and KPMG. At the same time, the lack of vacancies related to blockchain from such giants as Facebook, Google and Apple could be noted.

The need for crypto industry experts isn’t a uniquely American phenomenon. In August, Cointelegraph reported a 50 percent increase in the number of vacancies associated with blockchain and cryptocurrency in Australia, India, Singapore and Malaysia compared with 2017. At the same time, developers who are proficient in the Python programming language are among the most desirable candidates.

“Half-a-million-dollar” jobs and “insane” packages

The lack of qualified personnel means higher salaries for blockchain specialists. As estimated by Glassdoor, the average base salary for such employees is $84,884 a year. This is 62 percent higher than the average wage in the United States ($52,461 per year). At the same time, the variation in salaries ranges from $36,046 for junior developers to $223,667 a year for qualified software engineers.

Blockchain developers with three to five years of experience can earn “half-a-million-dollars” a year, according to Blockchain Developers recruitment agency. At the same time, analysts suggest that newcomers can count on a salary “definitely well over $120,000.”

Company executives also noted the increase in salaries in the blockchain and cryptocurrency industry. According to David Schwartz, chief cryptographer at Ripple, the hiring packages have “gotten insane” since “ICOs dumped a bunch of money on the industry.” In particular, a couple of Ripple developers received “$1 million signing bonus offers,” Schwartz disclosed.

Notably, the current average salary of software engineer at Ripple is $125,000, as estimated by Glassdoor. Given the fact that the same job was paid $85,000 in May 2018, according to Paysa, it doesn’t seem the crypto market prices affect the developers salaries, at least not at Ripple.

Some employers attribute the decline in the quality of products produced by developers to the increase in salaries. According to Alex Ferrara, partner at Bessemer Venture Partners, which invests in crypto funds, such an “overeagerness” is “impacting the pace of development. A lot of these projects are way behind on their launch schedules.”

The current realities of the blockchain industry has been continuously battered by a declining cryptocurrency market, which is partially responsible for the tightening of staff shortages. As raising funds through ICO became more accessible than crowdfunding, qualified specialists prefer to launch their own projects and begin to assemble their development teams, as was the case with Amber Baldet. The leader of JPMorgan Chase’s blockchain team left the company on April 2 to start her own project. As a result of such “forks” inside companies, the shortage of personnel is becoming increasingly acute.

Who needs salaries in crypto?

The popularity of cryptocurrency as a means of remuneration is also growing, although not as quickly. On Sept. 17, HR startup Chronobank published the results of its survey of 445 crypto enthusiasts from around the world, including the U.S., Australia and Russia. The respondents were asked in which currency they preferred to receive wages.

Two-thirds (66 percent) of them stated that they were ready to be paid for work in Bitcoin or other cryptocurrencies. The majority (83 percent) of respondents indicated they were supportive of receiving their bonus payments in digital money. Of the individuals interviewed, 72 percent said that, when choosing their next job, they would prefer an employer who offered the possibility of paying salaries in cryptocurrency.

One-fifth of the respondents indicated that they would exchange cryptocurrency, received as wages, for traditional money. Notably, half of the respondents believe that if they receive a salary in cryptocurrency, they will spend less than they do now.

The results of the latest survey conducted by peer-to-peer (p2p) platform demonstrated the high level of interest and readiness among U.S. citizens to get paid in cryptocurrencies. Eleven percent of 1,100 freelancers responded that they would like to have their salaries be paid in digital money, and 18 percent expressed their desire to receive a part of their wages in crypto.

Today, wages in cryptocurrency are popular mainly inside the industry. On Aug.18 TechCrunch editor Michael Arrington tweeted that Binance CEO Changpeng Zhao told him that 90 percent of the company’s employees preferred to receive a salary in the platform’s native token, Binance Coin (BNB).

In December 2017, GMO Internet, a Tokyo-based IT giant, announced its plans to start paying salaries in cryptocurrency. The company intended to pay up to 100,000 yen ($884) of over 4,000 employees monthly salary in Bitcoin. also offers its employees the opportunity to get paid in Bitcoin Cash, given the information from job openings located on its website.

However, cryptocurrency wage payment goes beyond the industry. In August, semi-professional football club “Gibraltar United” announced plans to pay its players a salary with a cryptocurrency called Quantocoin. Club owner Pablo Dan believes that the use of cryptocurrency provides greater transparency and, most importantly, simplifies financial relations with foreign footballers playing for the club. Experts believe that the salaries in cryptocurrency will help international companies attract remote foreign specialists.

“Several U.S.-based companies are paying their international workers in Bitcoin, as it can save both the company and the employee money,” Bloomberg Law analysts suggest. According to the statistics published on the company’s website, nearly 200 companies use Bitwage, a service allowing employees and freelancers to receive payments in cryptocurrency. As estimated by Bloomberg Law, about 65 percent of Bitwage clients are U.S. companies, and 95 percent are using it for paying wages to international workers.

The current statistics, located on the Bitwage’s website, shows that over $31 million has been paid to employees by the companies through this service. Among the clients mentioned are Google, Facebook, Uber and Airbnb.

For some people, cryptocurrency payments become more than just a new way to carry out the transactions. Workers in such regions like Latin America, which might not have a matured banking system or stable currency, are given the ability to be paid in cryptocurrencies. For example, developers in Venezuela got more business opportunities and revenues with the advent of Bitcoin. However, receiving wages in cryptocurrency may involve tax liability.

Tax liabilities

The main obstacle to the spread of cryptocurrency salaries remains the lack of clearly defined legislation, including tax rules. Today, the regulatory approaches of different countries and their views on the taxation of digital money vary greatly.

In the European Union, there are no special rules for regulating activities related to digital money, and the taxation of crypto transactions is regulated by the national legislation of each country. As a result, in France, digital currencies are subject to capital gains taxes, with fees of 14-45 percent. Germany doesn’t charge any taxes as long as cryptocurrency is used as a means of payment. Bitcoin has no established legal status in the U.K,, but is commonly treated as a foreign currency for most purposes, including value-added and goods-and-service taxes.

Asian countries offer a different approach to taxation of crypto-related activity. In Singapore, if digital currencies are part of the taxpayer’s investment portfolio, then the profits from selling them are not taxed, since they are considered capital gains. Notably, Bitcoin is recognized not as money but as a service, and therefore a tax on goods and services (local analogue to VAT) is applied to it. In China, cryptocurrency transactions are subject to income tax and capital gains tax, and revenues are subject to taxation. Japanese individuals are charged from 15 to 55 percent for any activity related to Bitcoin.

In Australia, cryptocurrency transactions are subject to income tax. In Canada, they are subject to income and capital gains tax, with up to 50 percent of the revenue charged. In the U.S., cryptocurrency owners pay taxes on digital money as they would on property.

Blockchain in recruitment

As blockchain technology and cryptocurrency give birth to new jobs, business models reliant on third-party involvement may become increasingly outdated. The bottom line is that smart contracts — decentralized, digitized commercial agreements — control the fulfillment of obligations by all parties and manage all essential financial flows. As a result, the third-party services of various kinds of intermediaries may no longer be required.

Meanwhile, mediation services constitute a large segment of the modern economy. After all, in traditional contracts used by banks, brokers, authorities, realtors and others, it is the intermediary that describes the terms of the transaction, draws up the document template, monitors the execution of an agreement, and appropriates a significant part of the payment.

Smart contracts automatically coordinate and ensure the interests of all parties, almost instantly and free-of-charge. Moreover, the inability to change information in the blockchain provides the highest level of security to all participants in the transaction, eliminating the possibility of data manipulation and deception. Basically, one smart contract can replace a room full of corporate lawyers, realtors, recruiters, risk managers and other professionals whose work essentially boils down to the formal assessment of documents.

In addition to regulating labor relations inside the company, blockchain technology can become a magic pill for the freelancing industry. During the past couple of years, the scale of remote work around the world has increased significantly, and the sector is expected to continue to expand. Former U.S. Secretary of Labor Robert Reich calculated that in a couple of years, 40 percent of the U.S. workforce will be freelancers. However, this could lead to a number of issues since freelancers are not considered to be full-time employees, which means that they remain outside the scope of health insurance, pensions and other social benefits.

Moreover, they are forced to use the services of aggregator sites, which primarily focus on the interests of the customer, and not the freelancers themselves. In addition, such platforms like Upwork charge up to 20 percent for a bill, and payments for the work performed are often delayed.

Some projects use the advantages of blockchain technology to solve the problems that currently plague the freelance economy. Some provide freelancers with service where blockchain is leveraged to ensure paid vacation and sick pay when needed. Other solutions offer a blockchain-based system for resolving disputes between customers and freelancers. Some platforms are deploying blockchain-powered Human Resource Bank to allow p2p matching of potential employers with contractors on the basis of verifiability of all user data, and excluding the possibility of falsification.

The use of blockchain technologies in social networks and internet sites for freelancers demonstrates the high demand of the industry for new solutions using advanced technologies and cryptocurrencies. The exclusion of intermediaries, direct communication, reputation systems is what the blockchain brings to the labor industry.

What’s next

The pace of development and the integration of blockchain and cryptocurrency in everyday life will likely depend on the position and attitude of national governments. Countries with a friendly position on cryptocurrency are already leaders in the use of blockchain technology.

Florida residents pay for property taxes, driver’s licenses, ID cards and car numbers in cryptocurrencies — Bitcoin and Bitcoin Cash — using the BitPay payment system. The corresponding decree has been approved by the State Department of Taxes.

Meanwhile, in 2017, China banned cryptocurrency trading, ICOs and cryptocurrency exchanges, and the result was a tenfold decrease in the circulation of cryptocurrencies. According to the country’s central bank, the yuan’s share in the Bitcoin market fell from 90 percent to 1 percent, and 88 crypto exchanges and 85 blockchain startups that had been operating in China since autumn 2017 left the country. In such conditions, the numbers of those who want to receive a salary in Bitcoin may also gradually drop.

Another factor, which may impact the adoption of cryptocurrency in the labor market, is the price of digital currency. As of now, most cryptocurrencies are volatile, and that dramatically cools the enthusiasm of workers regarding the payments of wages in digital currency.

As the sector continues to develop, mature and adhere to government-mandated regulations, the number of workers choosing to receive their wages in Bitcoin, Ether and other cryptocurrencies may become more and more common. Raj Mukherjee, senior vice president of products at Indeed, told Cointelegraph:

“While over the last few years, Indeed saw a steady rise in job-seeker interest for roles related to cryptocurrency, our data shows that job searches for these roles really picked up around the time when the cost of Bitcoin was at its highest. Since then, job-seeker interest has gone down, but still remains strong.”

On the other hand, the demand for specialists capable of solving specific tasks will grow. Stephane Kasriel, CEO of Upwork said:

“In just a few years, more than 30 percent of the workforce’s essential skills will be new. We’re seeing that shift take place on Upwork, where new and emerging skills like blockchain surface on a monthly basis.”

Large corporations like IBM and Microsoft have been willing to invest for the long term in blockchain by expanding hiring over the last year. The trend of mid-2018 will likely continue moving to smaller companies, as experts predict. Though the overall number of applications posted by job-seekers has declined by 3 percent since last year, the continuous fall in cryptocurrencies’ prices hasn’t affected the interest that companies seeking blockchain specialists have demonstrated.

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Reports: Investment Giant Fidelity Issues Job Offers for Crypto Exchange Devs

US investment giant Fidelity Investments is hiring developers to build a cryptocurrency exchange, reports claim June 6 citing internal correspondence.

Fidelity, with its $2.45 trln under management, has allowed clients to hold Bitcoin alongside traditional assets, and is now reportedly circulating job offers related to building a “digital asset exchange.”

Specifically, executives notified employees the firm is looking for a DevOps System Engineer “to help engineer, create and deploy a Digital Asset exchange to both a public and private cloud,” according to Business Insider quoting the circular.

The move makes Fidelity one of an ever-increasing number of financial industry entities looking to increase direct interaction with cryptocurrency.

This week also saw Pennsylvania-based Susquehanna International Group indicate it would begin offering cryptocurrency services, initially in the form of Bitcoin futures, with trading options reportedly to follow.

Last month, global heavyweight Goldman Sachs revealed it had a similar roadmap for clients.

Fidelity meanwhile will in future seek to offer “first-in-class custodian services for Bitcoin and other digital currencies,” according to an additional job offer.

The company’s CEO Abigail Johnson has been an outspoken supporter of Bitcoin for several years, but along with other officials has so far declined to comment on the new initiatives, Business Insider reports.

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Startup Jobs Site AngelList Reports Doubling Of Crypto Jobs Since New Year

AngelList, a website for startups offering vacancies to job seekers and investment opportunities for angel investors, reported that the number of crypto job openings has doubled in the past three months, according to their weekly newsletter published Thursday, April 19.

According to data from AngelList’s newsletter – this week titled “Bitcoin is (not) dead” – the number of new jobs related to cryptocurrency listed in December 2017, when Bitcoin (BTC) reached a peak of $20,000, was around 500. After BTC crashed below below $7000 in February of this year, the number of new crypto job postings was more than 1000, for, as Angellist jokes, “[s]tartups aren’t watching the markets.”


AngelList had earlier predicted in an as-of-yet un-updated post entitled, “How to Get a Job in Crypto,” that by 2017 there would be over 1200 crypto job postings, a number set to be broken this year.

The newsletter also mentions that Initial Coin Offerings (ICO) were very popular in March, and cryptocurrency hedge funds are taking the place of venture capital investors in this new investment model.

CoinList, a spin-off of AngelList comprised of a platform for token-based financial services with an emphasis on complying with regulation, raised $9.2 mln during its initial fundraising round in early April.

In their newsletter, AngelList lists three companies hiring in the field of “Decentralized Finance,” three in “Security Hardware,” and three in “Decentralized Internet.” Last December, Cointelegraph wrote about the various new kinds of job opportunities in crypto in 2018, including in development, law, and design.

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Professionals To Be Paid For Their Data Through Blockchain Protocol

A new Blockchain platform wants to empower professionals by giving them full control of their data by cutting out the middlemen who make money out of their personal details.

Profede says its protocol is designed to make it easier and more cost effective for companies to contact individuals with job offers and business opportunities. Under this decentralized approach, professionals are paid every time their contact information and full profile is released to a business. Professionals set their own price in tokens depending on how accessible they want their profile to be.

The start-up is optimistic about becoming a mainstream player after signing an agreement with beBee, a collaborative platform for professionals which has already amassed 12 mln users in more than 100 countries. As part of the deal, beBee will be the first network to embrace Profede’s protocol – and the company says it is in talks with other apps to gain further market adoption.

“Making data valuable”

According to Profede, the current options for business networking are not working – with its whitepaper describing the professional recruitment market as “broken.”

The Estonia-based company claims professionals are currently being bombarded with low-quality offers, meaning businesses find it harder to entice them with genuinely exciting opportunities and struggle to get a return on their investment.

Profede also alleges that current recruitment platforms such as LinkedIn are charging businesses “outrageous fees” to get in touch with prospective candidates, and none of those fees are making their way to the professionals themselves.

How does it work?

Profede regards professionals as the type of workers who use LinkedIn profiles, as well as those who have registered with job portals and industry-specific social networks.

Through the Profede Professional Protocol, these users choose how much of their personal data is made public – and they decide how much other businesses and professionals must pay in order to access their full profile.

When their data is purchased, they will be compensated in Professional Activity Tokens – known as PATO for short. Profede takes a commission of 2 percent from these transactions, which is then reinvested into the platform.

The company believes this system will make professionals feel more valued, while also helping businesses to save time and money. Profede says businesses will only need to purchase data they are actually interested in – and, as every professional’s feedback rating will be on public display, there is less chance of a business wasting money in acquiring the data of professionals with poor track records.

Similar to its arrangement with beBee, Profede hopes its protocol will be embraced by other recruitment firms, job portals, headhunters and professional networks.

Profede says examples of where its Blockchain-based platform could make communication easier include when a business is looking to hire an experienced programmer, or when a professional is in the market for new job offers. It hopes its protocol will also help businesses boost their sales and start mutually beneficial partnerships with other entrepreneurs.

Looking to the future

By the middle of Oct. 2018, Profede hopes that an alpha version of its protocol will have been fully developed – paving the way for a beta version to be integrated into beBee by the end of the year.  

Its final product is due to be launched on Ethereum’s mainnet in 2019. Once everything is up and running, one of Profede’s main priorities will be marketing its protocol to small and medium-sized apps, including job portals, professional networks, recruitment businesses, software vendors and professional service providers. The company hopes that attracting professional apps will incentivize professionals to create a profile and benefit from Profede’s protocol.

Profede is currently in the presale period of its initial coin offering, which ends on May 31, 2018, and the public crowdsale will begin on June 1.

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.

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Job Opportunities in Blockchain in 2018

It is no secret that Blockchain technologies are on the rise. Businesses across a variety of industries are aware that Blockchain technologies have the ability to mitigate transfer and operational costs, increase transaction speed, and eliminate the need for parties to put their trust in an intermediary. Blockchain technologies also have a number of use cases in industries  where the Blockchain can provide businesses with a more secure method of record keeping.

Each day, more and more businesses have been inquiring with professionals on how to incorporate Blockchain technologies into their business model.  Concurrently, the demand for employees in the Blockchain industry has been on the rise and is expected to thrive in the new year.

In 2018, there will be many opportunities for individuals to work in the Blockchain industry. Here are a few careers in the Blockchain industry that will be in high demand in 2018.

Project manager

Businesses are interested in incorporating Blockchain solutions to optimize their businesses. That being said, Businesses will need to communicate their ideas to a Blockchain company who is able to meet their demands. To do this, there will need to be an individual to facilitate the projects that arise as the Blockchain company takes on more clients. A project manager in the blockchain industry will need to be able to convert the businessman’s english to a developer’s technical language, and from developers technical language back to the businessman’s english, so that the fintech company and the business interested in incorporating Blockchain technology can successfully do so.

A project manager is often the first person in a company who is contacted when a business looking to incorporate Blockchain technologies into their platform reaches out to a Blockchain company that can make that possible. It is the project manager’s responsibility to plan and supervise the execution of a project.

Community support

Blockchain technologies have been all over the media lately. Recently, there has been a large influx of people investing in cryptocurrencies, interested in incorporating Blockchain models into their businesses, and users of decentralized applications.

It just so happens that a majority of these people have never dealt with the Blockchain or cryptocurrencies ever before in their life–which is no surprise, Blockchain technology is not even 10 years old yet!

Therefore, there will need to be individuals who can troubleshoot the problems that users are likely to have at some point in their experience on the new Blockchain related applications and platforms

At this point in time, the knowledge regarding Blockchain technology is rather esoteric, so there is going to be a large demand for individuals who understand Blockchain technologies and cryptocurrencies and can troubleshoot and solve the problems that at least some individuals in the Blockchain community are bound to have.


Developers may have the most career opportunities in the Blockchain industry at this point in time. Banks, financial institutions, government agencies, insurance companies, and tech companies, are interested in running Blockchain platforms to better service their clients and users and to optimize the efficiency of their own businesses. But before businesses are able to accomplish their goal of Blockchain implementation and increased efficiency. The programs and platforms these businesses are interested in providing will need to be created.

As the phones at Blockchain technology companies continue to ring off the hooks due to businesses interested in incorporating Blockchain technologies calling at all hours of the business day, there is a dire need for individuals who develop and write the code that runs the program and platforms businesses are interested in providing.


As the number of businesses interested in incorporating blockchain technologies increases, the demand for law services in the Blockchain and digital asset space will continue to grow. At the “Working in the Blockchain Ecosystems in 2018” event, lawyers said they have been receiving an increasing number of phone calls from clients and potential clients inquiring about the structuring and governance of ICO’s and looking for advice on issues that they may run into on their Blockchain/fintech endeavors.

A number of new businesses have emerged with the creation of Blockchain technologies, and practically all of these businesses are going to need legal guidance throughout their launch process.


All of the new Blockchain related start-ups and businesses interested in hosting token sales will need to have a web-page to inform clients, customers, platform users and  potential investors, of what their company offers, what the company’s mission is, who the team members are and what their backgrounds are, etc.  

These companies will need to have a web-designer who can create the web pages that new Blockchain related companies will find are necessary to have.

In 2018 there is going to be several career opportunities in the Blockchain industry. With the rise in demand for Blockchain services, recruiting services like Johnathan Perkins and John Crain’s,  BlockchainJobs.Co  make the employment process easier by connecting companies looking for employees, with individuals looking for work.

At this point in time, a lot of individuals may feel as if they are not knowledgeable enough about Blockchain technologies and are not fit to apply for a position in that space. However,  individuals should keep in mind that employers are going to have to be reasonable when hiring, Blockchain technologies are not even ten years old–therefore businesses cannot search for a Blockchain guru with 20 years of Blockchain experience… that individual does not exist.  

Knowledge regarding Blockchain technologies is rather esoteric at this point in time. As long as an individual is skilled and has experience or experiences that make them fit or capable of completing the duties for a position, then that individual will be able to capitalize on the job opportunities in the Blockchain industry in 2018.