Demand for Trained Blockchain Experts in China is on The Rise
The demand for blockchain technology experts in china is higher than the supply of such talents. The industry is offering a variety of job opportunities that require high qualifications in the field. Reports show that there are many job seekers in the field, but not many of them possess the requisite knowledge and skills required in the application of blockchain tech.
Many of the job seekers are just interested in the high salaries available in the blockchain field despite them not meeting the qualifications. This has led to the scarcity of employees in the industry as employers compete for the few qualified blockchain talents. Most of these employers are Chinese internet and entrepreneurial companies and require both technical and soft skills. Some require blockchain tech development engineers, product managers, and technology experts.
Salaries in the blockchain space range between 20,000 Chinese Yuan and 60,000 Chinese Yuan per month. An average salary in a blockchain-related job is about 16,000 Chinese Yuan, which converts to $2,322. Surprisingly, the average salary in the blockchain industry is about twice the country’s average salary, according to a recent report released by 8btc.
Technology cities in China are competing to hire the few fully qualified blockchain talents available in the country. The city of Guiyang issued a policy in 2017 that highly qualified blockchain talents to enjoy apartment treatment and living allowances. Hangzhou issued a 3 million Chinese Yuan subsidy in May 2018 to attract highly skilled blockchain talents.
However, the recruitment of blockchain enterprises has dropped by 53.68% after China’s regulatory authorities recently pressed too hard on cryptocurrency. For the same reason, the number of blockchain recruiters has also dropped by 51.71%. Despite these shortcomings, the number of employment seekers is 7.12 times the recruitment demand.
Blockchain talents are split into two fields; application development and the fundamental structure talents. These qualified programmers play a crucial part in the development of blockchain technology. Many of these talents have acquired their skills through self-study.
Over ten universities in China are currently offering blockchain-related programs. Tsinghua University has been offering blockchain courses that are yet to be made majors. A couple of colleges are also offering training programs on blockchain technology through cooperation with blockchain enterprises. Huobi, a leading crypto exchange in China, has also partnered with Xiamen University to train students on blockchain tech.
China will be investing heavily in training more blockchain talents in the future due to their high demand. This will be achieved through the establishment of blockchain research programs and training computer and information security personnel. There is also a need to introduce blockchain knowledge in management and finance majors.