Blockchain continues to grow in Asia, report suggests 22196 Bitcoin and Blockchain
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Rakesh Ranjan Parashar
Sep 2, 2018 at 12:33 AM

While the cryptocurrency market continues to go through a phase of uncertainty and volatility with little hopes of an imminent recovery, blockchain technology continues to hold its sway over the people in the world’s most populous continent, Asia.

According to a report by CNBC, job creation figures related to blockchain and cryptocurrencies in Asia are showing an upward spike and this been continuing for quite some time. The report also mentions that both startups and established corporations have set their sights on the evolution of the blockchain technology.

Considerable increase in number of jobs created

The report states that following the upswing witnessed by the crypto market last year, interest in blockchain and cryptocurrencies has reached a new high, with businesses across the spectrum racing to incorporate blockchain into their operations.

According to data provided by the recruitment firm Robert Walters, year 2018 has seen a phenomenal rise in the number of jobs created in this sector. It also says that there is a growing demand for professionals with python language proficiency.

The job-seekers across the continent are also displaying heightened interest in various blockchain roles on offer. This was confirmed by the search engine Indeed which collected data from all the leading Asian markets.

Lack of qualified professionals

But due to the relative nascency of the blockchain industry most of those entering this space are relatively inexperienced and from other sectors.

"We hardly ever hire from inside of crypto because most people inside of crypto are very inexperienced. You have very, very few people who are experienced who get into the crypto industry," said Julian Hosp, co-founder of Singapore-based crypto wallet and card start-up TenX.

Speaking to CNBC, Hosp reiterated the fact that due to the relative infancy of the industry, it is really difficult to find talents from within due to the sheer number of new roles and lack of people with the requisite strengths.

In his words:

“We hardly ever hire from inside of crypto because most people inside of crypto are very inexperienced. You have very, very few people who are experienced who get into the crypto industry.”

Volatility of the crypto market is also having its say

Julian Hosp also noted that the vagaries of the crypto market is also having its say on the company’s decision to invest in blockchain. If the industry is doing well the interest level rises and the opposite happens when it starts to go down.

He said:

“If crypto is doing well, if people are like making money in crypto, we get huge inbound from people because they feel like, ‘I need to jump on this wave.”

"And then when you see crypto going down — and we saw this at the very beginning [of this year] and we're seeing this right now — then we see that immediately the demand of people, they're like, 'Oh no, this is a dying industry, I shouldn't go in there.' So it's completely emotional," he added.

See Also: NEM Malaysia launches Asia’s largest Blockchain centre

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