Some institutional players, online retailers, and media organizations have called for recruits with experience in crypto or blockchain.
As crypto and blockchain firms grow and need to navigate regulatory and economic challenges for the industry, many have to hire outside to find the best workers. This year, major companies, financial institutions, and even government agencies announced they were searching for fresh blood to help them adapt to the ever-changing crypto space.
In February, major online retailer Amazon posted it was seeking a software development manager in Mexico to help launch “a new payment product.” The Digital and Emerging Payments project was aimed at allowing residents of Mexico to buy cryptocurrencies with cash so they could spend digital currency while shopping on Amazon.
Though there are reports the online retailer intends to accept Bitcoin (BTC) payments by 2022, the company has not officially announced such plans. In July, Amazon said it was looking for a Digital Currency and Blockchain Product Lead for its Seattle office, hinting at a possible change as to how customers pay on Amazon’s websites.
Apple, the largest company in the world by market capitalization, seems to also be focusing on crypto payments based on a recent job posting. In May, the major tech firm said it was recruiting for a business development manager specializing in alternative payments, specifically preferring someone with experience in “alternative payment providers,” including cryptocurrency.
Reaching across industries
Though two of the Big Four may be considering a shift to digital payments, some financial institutions seem to require workers be able to work within regulatory guidelines while still growing the business. In April, the Bank of England announced it was looking for 7 people to fill new positions related to a central bank digital currency, despite the fact it has not officially reached a decision on releasing one. Japan’s Ministry of Finance was reportedly considering increasing its staff to address growth in the crypto market, including regulations concerning fiat-pegged stablecoins.
It seems as though job seekers with both a knowledge of cryptocurrencies or blockchain and the experience to back it up may have their pick of the litter when it comes to employment, given the industry is barely a decade old and has the potential to make money in a variety of companies. In July, major U.S. investment bank JPMorgan started accepting applications for blockchain-focused software developers, engineers, marketers and auditors.
Other firms simply seem to be responding to a growing industry in job postings. The crypto arm of asset management firm Fidelity Investments reportedly wanted to increase its number of staff by 70% in response to additional interest from institutional investors. Major crypto exchange Coinbase is also attempting to gain greater access to some of the 1.4 billion people of India by hiring locals for its engineering, software development and customer support operations in the country.
Reporting on crypto
Even media outlets don’t necessarily have the staff to properly report on the crypto space. News organizations like Bloomberg have dedicated journalists on crypto and blockchain, but Time Magazine is still looking for a chief financial officer who has “comfort with Bitcoin and cryptocurrencies.”
According to Neil Dundon, the founder of crypto-focused job agency Crypto Recruit, “one or two years” experience is usually good enough for the industry, given it was only created in 2009. However, just as with the dawn of any new technology like radio, television, or the Internet, interest in and from candidates will likely grow as more institutions offer more options for cryptocurrency and blockchain education to meet demand.