U.S. Job Market Thrives as Blockchain Companies Continue Hiring Spree

The U.S. job market is undergoing some noteworthy changes. A positive trend has been established over the past few months as the number of unfilled jobs has increased. Emerging technological trends are playing a part as the Bitcoin and blockchain job market is increasing in popularity.


A Booming U.S. Job Market

Several signs indicate whether a nation’s economy is doing well. The number of available job openings is one such key factor. In the United States, that metric is getting a lot of attention. Over 7 million unfilled job openings were present in August of 2018. A healthy job market shows there is still plenty of financial growth ahead for U.S. companies.

The blockchain industry is helping push a boom in the U.S. job market.

One notable contributor is the Bitcoin and blockchain industry. Job market listings pertaining to this industry have increased by 300% compared to the same period in 2017. That is a promising sign. It also confirms the United States should play an increasing role of importance in this growing industry. Just over 1,700 positions were waiting to be filled in August of this year.

These findings come at a crucial time for the cryptocurrency industry. An ongoing Bitcoin price decline for the majority of 2018 has made a lot of people wary of cryptocurrency. Yet many businesses are seeing the potential value of distributed ledger technology. The number of listings on the U.S. job market indicates companies are still in the process of expanding their presence into this particular ecosystem.

Filling the Right Positions

One interesting trend is the growing demand for Bitcoin and blockchain software engineers. A number of companies are eager to hire such candidates, as well as other blockchain positions. As an increasing number of universities around the world are now starting to offer courses pertaining to this topic, that part of the job market will continue to expand. It also shows how difficult it can be for companies to find, much less retain, talented staff during this crucial growth stage.

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One of the major companies on an active hiring spree is IBM. The technology giant is currently exploring numerous blockchain ventures. ConsenSys, a renowned company in the cryptocurrency industry, is also looking to fill many different positions. It is also worth noting these kinds of jobs are in prime demand. The average pay is over 60% higher compared to the median base pay on the U.S. job market.

Not all companies in this industry are successful, though. A proven track record does not warrant future growth. Exchange providers are going through a rough patch right now. Given the growing competition on the market, that is not entirely surprising. This is a growing pain the blockchain and cryptocurrency industry will have to go through prior to entering the next stage of adoption.

Do you plan on getting a job in the blockchain industry? Let us know in the comments below.


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Another Bitcoin Bubble Predicted by Vinny Lingham

The blockchain entrepreneur and CEO of Civic expressed his opinion on a possible Bitcoin bubble while speaking at a blockchain event in South Africa.


Civic Co-Founder Talks About the Industry

Vinny Lingham, the co-founder and CEO of Civic, a blockchain company focused on identity security and protection, has predicted another bubble for Bitcoin. He made this observation while speaking at a blockchain event in Johannesburg earlier this week.

The “Chain Reaction” event was organized by the Blockchain Entrepreneurs Club South Africa (BECSA). The speakers also included Monero lead maintainer Riccardo Spagni and the Luno country manager for South Africa, Marius Reitz.

Lingham spoke about the state of blockchain projects, hurdles to adoption, as well as the cryptocurrency market. Lingham, a South African internet entrepreneur, founded Civic in 2015. His previous venture, Gyft, was acquired by First Data Corporation in 2014 for over $50 million. In June 2017, Civic ran its ICO, raising over $33 million in funding.

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Barriers to Mass Adoption

Lingham believes that scaling issues and lack of use cases are the reasons why blockchain technology is still very far from mass adoption.

He says:

Even though we are about a decade into blockchain technologies, we are still in the infancy. Primarily the number one use case for cryptocurrency outside of money transfers is trading. It’s mostly a speculation game.

He believes that as more use cases are built on the technology, the situation will gradually change. He also highlighted the need to address the scalability issue to match the throughput of traditional payment processors like Visa.

Vinny Lingham says startups should be more passionate about their product than the amount of money they can raise.

Throwing a jibe at the new generation of developers, Lingham observed that start-ups should be passionate about the projects they are building rather than the money they can raise. He noted:

You shouldn’t do this stuff for the money, you should do it because you’re passionate about what the goals of the project are.

Crypto Price Predictions

Talking about the cryptocurrency prices, Lingham believes that investor interest last year led to the market rally which, in turn, led to more start-ups hosting ICOs.

He said:

Last year, we saw an indicator of a massive amount of investor interest in the space and not enough supply. Right now you have way more supply of ICOs than buyers, and with the price of Bitcoin and other cryptocurrencies dropping, those buyers have less money to spend.

Crypto

Predicting another Bitcoin bubble in the market, he said:

Do I think we’ll have another bubble? Probably, because people just don’t learn. Once it broke through $20k, it would run to over $100k and then we have the start of a new bubble-bust cycle.

He then added:

I have seen three or four bear markets and cycles. In bear markets, it is more about consolidating and going into high-quality coins like Bitcoin.

He concluded by commenting that it would have been better for Bitcoin price to grow steadily and for the technology to mature before attracting investors.

Do you agree with Lingham’s views? Let us know in the comments below.


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Bithumb Launches Decentralized Exchange on the Ethereum Network

South Korean cryptocurrency exchange Bithumb announced the launch of its Decentralized Exchange (DEX) which is structured on the Ethereum blockchain. The move comes days after the exchange sold a majority stake of its equity for $353 million.


Bithumb’s DEX is Live

Bithumb’s decentralized exchange went live on October 15, following the trend of other major cryptocurrency exchanges to launch their very own decentralized solutions.

In a commemorative tweet, the exchange said that in order to celebrate the event, users can take advantage of an Airdrop and of free transactions fees until November 15th.

The new platform will initially enable DENT, INS, POA20, RNT, and WTC trading pairs with Ethereum (ETH). However, it’s likely that more trading pairs will be added in time.

Quick Recovery

Earlier this year, Live Bitcoin News reported that Bithumb felt victim to a hacking attack, losing about 45 percent of the coins which were traded on the exchange or about $31 million. Shortly after, the exchange announced that it has managed to recover $14 million of the stolen digital currencies, outlining:

The main reason for the reduction of the damage is due to the ongoing participation, support, and cooperation of cryptocurrency exchanges and cryptocurrency foundations across the world.

The company confirmed that all those who lost their cryptocurrencies will be reimbursed.

Despite the heist, Bithumb still managed to turn a profit of about $35.3 million in the first two quarters of 2018.

Just a few days ago, Bithumb sold the lion share of its company to Singapore’s BK Global Consortium. The deal reportedly went for $353 million, implying a valuation of about $700 million. Speaking on the matter, a representative from BK Global Consortium said:

Kim Byung-gun demonstrated his multinational management ability in the field of medical care, fintech, and blockchain in Singapore. He is the right person to pursue the systemization and globalization of the virtual currency exchange.

What do you think of Bithumb’s decentralized exchange? Don’t hesitate to let us know in the comments below!


Images courtesy of Twitter (@BithumbOfficial) and ShutterStock

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