Blockchain became the tech buzzword of the year in 2017. Now, as we near the end of 2018, there’s an unparalleled demand for blockchain developers, as both startups and established companies look to build on the innovative ledger technology. In March 2018, a survey of business leaders showed that 92 percent viewed blockchain as an opportunity, with supply chain and IoT one of the leading practical applications. Unfortunately, they’re struggling to find sufficient talent to develop their initiatives.
Initially, the lack of understanding about blockchain and the minimal available educational resources for professionals kept the talent pool shallow. However, educational opportunities have propagated rapidly over the last couple of years.
Yet, demand for blockchain developers continues to surge and the available talent continues to fall short. This is slowing down implementation of blockchain solutions and leading to increasingly high pay rates for blockchain developers, who are now among some of the highest paid developers of any professional field. The average blockchain developer salary in the United States is $95,545, with top earners earning an average salary of roughly $140,000.
Bridging the Gap with Professional Education
To bridge the substantial gap between talent demand and talent supply, companies with extensive resources and technical talent are now beginning to train in-house, providing the opportunity for established developers in other areas to transition into a burgeoning field.
They’re also outsourcing to millennials, a generation that has shown a predilection for blockchain technology and cryptocurrencies. In May 2018, blockchain developer freelancing reportedly grew at a year-over-year rate of 6,000 percent.
Last Chance to Register: Advanced Blockchain for Enterprise
Advanced Blockchain for Enterprise is a two-day live virtual event starts tomorrow, Tuesday 4 December 2018 at 12:00PM EST. Join us to explore advanced blockchain concepts and applications in your industry and others and gain valuable insight into the future of this innovative and widespread ledger technology.
Vilner, Yoav. (15 Nov 2018). Bridging the Demand Gap For Blockchain Talent With Education. Forbes.
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