The Blockchain Talent Shortage Crisis — How This Company Is Working To Fill The Blockchain Developer Void

Blockchain development has become one of the most highly-demanded skills of the century.

Companies both large and small are leveraging blockchain — the underlying technology powering cryptocurrencies such as Bitcoin BTC/USD and Ethereum ETH/USD— to reduce costs, increase trust, improve security and also improve the traceability of data shared across networks.

Several multinational companies, including IBM Corp. IBM, Microsoft Corp. MSFT and Oracle Corp. ORCL are reportedly implementing blockchain into their business strategy. Blockchain has disrupted several key economic industries, including business and finance, and given birth to decentralized finance (DeFi) establishments such as Opensea and Uniswap. 

Demand For Crypto Roles Hits All-Time High

Because of the growing number of enterprises working with crypto and blockchain, the need for skilled talent in the industry has skyrocketed in recent years. Last year, job search engine Indeed reported a massive 118% year-on-year jump in cryptocurrency and blockchain job postings.

Blockchain Developers Remain In Short Supply Globally

The global blockchain industry has a shortfall of skilled candidates. A study by LinkedIn Corp. and OKX using data collected from 180 countries between January 2019 and June 2022 revealed an imbalance in the supply and demand of talent in the global blockchain field, with qualified candidates in short supply. 

Data from the report shows that the number of LinkedIn members working in the blockchain space has grown by 76% year on year through June, but the countries that produce the most blockchain professionals are experiencing a decline in talent growth.

The Crypto Recruiters CEO Emily Landon told Blockworks that her firm receives overwhelming requests for marketing, investor relations and developer roles, as well as those skilled in programming blockchain languages like Rust and Solidity.

“Finding technical talent has become increasingly difficult as candidates aren’t always marketing themselves well on LinkedIn,” Landon said. “Others have deleted their LinkedIn accounts due to spam from recruiters, flocking to Twitter and Discord instead. It makes it challenging to find them on those platforms.”

Chainsulting says it is on a mission to narrow down the talent gap by helping companies hire highly-skilled, experienced blockchain developers externally.

Bridging The Gap Through Talent Outsourcing

Chainsulting has provided consulting and development services to the blockchain industry since 2017. The company offers Web3 development, consulting and security services to the growing industry.

Yannik Heinze, the CEO of Chainsulting says its team uses the best-in-class development tools and blockchain architectures to build and implement custom Web3 solutions for its clients.

While blockchain allows the creation of smart contracts for digital assets such as tokens, smart contracts have been targets of cyberattacks that historically have led to millions of dollars in losses. Smart-contract audits help organizations discover potential loopholes and security vulnerabilities in the code behind smart contracts.

Chainsulting prides itself on having a wide range of successful projects in its portfolio, ranging from e-commerce to mobile payment platforms. The company has helped give a facelift to Shopping.io (an e-commerce platform that allows users to pay for goods in crypto), developed several DeFi products for big Web3 brands, and helped companies like Improbable, CryptoBatz by Ozzy Osbourne and 1inch to secure their infrastructure, to mention a few.

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Featured photo by Nubelson Fernandes on Unsplash