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Blockchain Talent demand Surges Worldwide, SME Finance Could Also Benefit From It

Blockchain is one of the controversial issues in 2018. People is wondering whether it can be a disruptive technology like the early internet days or it’s just a blind pursuing conceptual speculation. The application scenarios it supports and the employment opportunities it brings are also

Although there are still heated debates over blockchain and ICO, a serious shortage of hire-able core blockchain developers clearly exist. According to LinkedIn, the demand for blockchian-related talent has increased 19 times worldwide by 2018 compares to the data in 2015.

However, in the global talent market, blockchain-related jobs are still very little compares to other advanced technologies at present. For instance, demand of blockchain talent is only about 2% of the AI talent demand on LinkedIn.

In addition, blockchain talent demand is mainly concentrated in computer software and financial insurance services areas. Talent demand have not raised in other industries. From the global talent distribution, the United States occupies 25%, followed by India with 7% and Britain with 6%. The relevant talent base in China is still small and mainly concentrated in Beijing and Shanghai.

By the end of 2017, Deloitte published a report that provides an in-depth empirical analysis of blockchain technology and related project progress based on the metadata from GitHub (a leading software development platform). Deloitte found that there are a total of 86,034 blockchain projects on Github but only 8% of them are maintained. The survival rate of these projects is 5% and the average life span of the blockchian projects is only 1.22 years.

Wang Jun, chief researcher of Tencent Financial Technology Think Tank, said in an interview that it is still too early to call the blockchain as “disruptive technology”. The suitable application scenarios for blockchain adoption are still limited at present. Whether blockchain can be effectively integrated with various production activities in the future still remains to be seen.

Wang Jun believes that besides cryptocurrency, SME finance is another area that suitable for widely blockchian technology adoption. He pointed out that information asymmetry causes high transaction cost, which makes it hard for capitalization of SME. The greatest value of blockchain may lies in alleviating the degree of multi-party information asymmetry, so blockchian technology has wide development trend and implementation prospect in SME micro finance industry.


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