Job seekers still searching for blockchain careers, less interested in cryptocurrencies |

Job seekers still searching for blockchain careers, less interested in cryptocurrencies

Peter Terlato 28 March 2018 NEWS

Blockchain, the technology behind cryptocurrencies, is clearly seen as a viable and lasting tech innovation.

Enthusiasm among job seekers for positions in the cryptocurrency industry intensified over the last year, a new research report found. However, when bitcoin’s price tumbled from its peaks, employment interest also waned.

An Occupation Spotlight report conducted by Indeed’s Hiring Lab revealed that in the six months through mid-December 2017, the level of jobs interest in the area of cryptocurrencies was soaring.

For the week ending December 14, jobs searches on Indeed for “cryptocurrency” peaked at 46 searches per million, while searches for “bitcoin” topped out at 39 searches per million.

Starting in mid-December, the price of bitcoin began to fall, and so did job seeker interest. From mid-December through March 15, searches for “bitcoin” have declined 76% and “cryptocurrency” by 41%.

Indeed on the declining interest in cryptocurrency-related jobs

Bitcoin began 2017 trading at $1000 before reaching a record-setting high just above $20,000 in mid-December, then suddenly crashing down below $12,000 by January 2018. This week bitcoin’s value is just $7,900.

Additionally, over the past few months the term “bitcoin” has seen a huge drop off in Google search popularity.

Chart: Indeed Hiring Lab

Silver lining for wider crypto community

Despite the drop off in jobs searches for cryptocurrency positions, interest in “blockchain” jobs remains high. At 47 searches per million, searches for blockchain jobs have slipped slightly from highs in late-February but stayed essentially unchanged during the three month period to March 15, 2018.

“The sustained interest in blockchain jobs is perhaps a sign that job seekers believe non-financial companies will pursue blockchain applications, even if financial companies see cryptocurrencies as a fad,” according to Indeed. “Rightly or wrongly, blockchain is seen by job seekers as a viable innovation whether or not bitcoin and other cryptocurrencies are.”

An array of financial, real estate, logistics and technology companies are trialing blockchain advancements.

Internet technology company Google is reportedly creating its own blockchain technology to underpin and differentiate its expanding cloud business, people familiar with the situation have told Bloomberg.

Global messaging startup Telegram plans to launch its own unique blockchain platform and cryptocurrency.

The pro-crypto legal landscape in Vermont recently enabled city hall in South Burlington to record its first real estate deed exclusively on the blockchain. The milestone was achieved via startup Propy’s pilot program.

With drug counterfeiting and tampering in its crosshairs, DHL has begun testing blockchain technology to help the company ensure the pharmaceuticals it delivers are authentic, ethically sourced and in perfect condition.

In February, American courier delivery service FedEx revealed plans to integrate blockchain technology, joining the Blockchain in Transport Alliance (BiTA) to develop industry standards for transportation companies.

You can learn all about different exchanges, understand exactly how to buy and sell cryptocurrencies, calculate your taxes, discover digital wallets to hold assets and explore a list of all the alternative coins on the market.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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Picture: Shutterstock

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