JP Morgan Is Currently Hiring More Blockchain Employees Than Other Wall Street Firm
It seems that one of the banks that has been against Bitcoin (BTC) it is currently hiring more blockchain experts than any other Wall Street firm. According to Forbes, the site Indeed.com shows that JP Morgan Chase was the only financial firm in the top ten companies that post jobs related to the cryptocurrency and blockchain world.
JP Morgan Interested In Blockchain Technology
JP Morgan is very interested in blockchain technology and the benefits related to it. Back in February, the bank unveiled its plan to launch the JPM Coin, a digital currency that aims at processing payments between clients of the banks. The JPM Coin is going to be running on top of their blockchain network called Quorum and that it is based on Ethereum (ETH).
There are other firms that have posted more jobs than JP Morgan Chase regarding blockchain technology. The firms are IBM, Cisco, Accenture, EY, KPMG, and Deloitte.
Andrew Flowers, Economist at Indeed.com, commented on the matter:
“It’s notable that there’s a lack of financial and banking companies hiring for something that’s made to replace money.”
At the same time, he commented that for the first time in history, there are more job postings than searches on the platform. Job searches have decreased by 67% from February 2018 to February 2019. This number represents a similar drop in Bitcoin’s price that since it’s all-time high in December 2017, it fell down to $3,200.
It also seems that there is an increase in the number of companies that are exploring non-crypto applications of distributed ledger technology (DLT). As per a survey conducted by Indeed-com, there is an increase of 4,086% in related job postings to the site since 2016 and a 553% increase in job searches over the same period.
Furthermore, the demand for these jobs is centered in some areas such as Silicon Valley or San Francisco. There are other places, including New York City, Newark, New Jersey and Jersey City that are also among the top places for companies searching blockchain employees.
It is worth mentioning that JP Morgan’s CEO, Jamie Dimon, has attacked Bitcoin and digital currencies. He has also said that blockchain technology is going to help financial institutions move dollars rather than Bitcoin.