Blockchain and Crypto in the Labor Market: Overview of Salaries, Taxes and the Most In-Demand Jobs

Over the past months, the cryptocurrency market has been demonstrating bearish sentiment, with crypto prices falling to a yearly lows.

Increase in demand for blockchain-related jobsAs estimated by LinkedIn analysts, 645 vacancies tagged with the words "Blockchain," "Bitcoin," or "Cryptocurrency" were published on the site in 2016.

According to the extended analytics shared by job-search platform Indeed with Cointelegraph, from October 2017 to October 2018, job-seeker interest for roles related to Bitcoin, blockchain and cryptocurrency declined by 3 percent, while employer interest for roles related to the same terms only rose, which was different than the interest levels from the year before by both parties.

If looking at data from 2016 to 2017, job-seeker interest for roles related to Bitcoin, blockchain and cryptocurrency rose by 481.61 percent, while employer interest for roles related to the same terms rose by 325 percent.

In August, Cointelegraph reported a 50 percent increase in the number of vacancies associated with blockchain and cryptocurrency in Australia, India, Singapore and Malaysia compared with 2017.

Company executives also noted the increase in salaries in the blockchain and cryptocurrency industry.

The current realities of the blockchain industry has been continuously battered by a declining cryptocurrency market, which is partially responsible for the tightening of staff shortages.

Blockchain in recruitmentAs blockchain technology and cryptocurrency give birth to new jobs, business models reliant on third-party involvement may become increasingly outdated.

The use of blockchain technologies in social networks and internet sites for freelancers demonstrates the high demand of the industry for new solutions using advanced technologies and cryptocurrencies.

Though the overall number of applications posted by job-seekers has declined by 3 percent since last year, the continuous fall in cryptocurrencies' prices hasn't affected the interest that companies seeking blockchain specialists have demonstrated.