People who keep tabs on the latest happenings in the tech sector have undoubtedly read about talent shortages that are hindering the industry at large, mainly when companies need to address specific needs, like cybersecurity gaps.

And research suggests the issue surrounding the lack of skills extends to blockchain technology, too.

Industry Executives Agree the Concern Is Real

At a fintech conference that happened in early 2017, numerous executives mentioned the blockchain talent shortage as a top concern.

However, they also said the definition of a blockchain-related job is changing. At the conference, some participants recommended that people who are interested in pursuing blockchain careers should focus on finding new ways to apply their existing knowledge.

Blockchain Becomes Upwork’s Fastest-Growing Skill

Upwork, a popular platform that helps freelancers find jobs, releases quarterly reports that highlight the most in-demand skills based on the frequency with which they get mentioned in the site’s job postings. According to the Q1 2018 report, blockchain saw year-over-year growth of more than 6,000 percent, catapulting that skill into the top spot, above more than 5,000 sites mentioned on Upwork.

It’s worth mentioning that before achieving that impressive statistic, blockchain skills on Upwork had more than 2,000 percent year-over-year growth for three consecutive quarters. That suggests the need for blockchain skills is here to stay.

Additionally, a different study from Glassdoor reported a 300 percent jump in jobs related to blockchain, bitcoin or cryptocurrencies across a 12-month span. Such statistics emphasize that if people decide to learn blockchain skills, their knowledge will be in demand for the foreseeable future, especially as they look for work.

Blockchain Jobs Don’t Necessarily Require Coding

Something that could help reduce the blockchain skills shortage is an effort to make it clear that not all jobs require coding skills. However, they need people to have a basic understanding of the core technology underneath the blockchain.

Online courses exist that help people grow their knowledge, so it encompasses the blockchain. People who are interested in future blockchain jobs could investigate them as a starting point. For example, the Institute of iBusiness Council offers a blockchain certification program for professionals. Although it requires computer programming knowledge, the organization has other learning opportunities for people without coding experience.

Alternatively, companies that want to move into the blockchain sector might hire from within and recruit people on their teams that are especially tech-savvy and can learn quickly.

Focusing on talent that’s already present within a company’s workforce likely won’t address a business’ skills shortage in full. But, it could facilitate finding the candidates that are most likely to transition smoothly into blockchain jobs.

Other details about addressing the skills shortage mention the cryptocurrency recruitment agencies hoping to capitalize on the growing need for blockchain expertise. The first of those opened in Sydney in 2017. Those entities, too, could emphasize how working in a blockchain role doesn’t automatically mean being a coding expert.

The Skills Shortage Could Restrict Blockchain-Based Technologies

A survey of businesses with more than 10,000 employees found almost two-thirds already deployed blockchain technology or want to do that soon. Nearly half the respondents considered Ethereum their platform of choice.

Although it’s promising that such a sizeable percentage of people are curious about blockchain and want to implement it in their organizations, the skills shortage may make it difficult or impossible for a company’s plans to become realities.

It’s also crucial to realize that the companies that need blockchain experts aren’t only those most prominent in the crypto space. Blockchain technology is helping well-established brands become more relevant, Walmart and IBM among them.

Increased security and transparency are some of the advantages that make companies most interested in the blockchain. Some brands are already testing the technology. If they get favorable results, blockchain technology could experience more widespread adoption. But, such implementation is only possible if members of the workforce possess the required expertise.

Reflective of a Broader Problem

As mentioned earlier, numerous other segments of the tech sector are also experiencing talent shortages in areas besides blockchain. It’s so evident that a study of businesses in the United Kingdom revealed only 11 percent expected to employ an adequate number of tech professionals over the coming year. The findings showed the tech skills gap would be most problematic at the mid-management level, too.

The tech sector is not the only industry that’s struggling to find workers. Statistics from April 2018 discovered the number of job openings was higher than the number of unemployed people in the country. Plus, the top problem employers face is finding qualified candidates.

It’s unlikely, then, that the blockchain skills shortage will improve until people take action to get educated with the required skills. Moreover, companies may need to consider hiring blockchain tech talent from abroad, or at least bringing on people from other countries on a freelance basis.

However, the shortage is not only apparent in the United States. China is experiencing it too after going through an almost tenfold increase in demand for those with blockchain skills.

Not an Easy Challenge to Conquer

The blockchain skills shortage does not have a single solution and will, therefore, need a collaborative effort to solve. Members of the workforce who are interested in blockchain jobs should take it upon themselves to learn about available opportunities and how to get qualified for them.

But, employers and people who recruit for open positions also need to bring up how working with blockchain technology could cater to a broad assortment of skills. Plus, entities involved in educating tech students need to ensure the training programs they offer include coverage of blockchain technology, as well as other in-demand types of tech.

When all these factors come together, society as a whole should get closer to closing the blockchain skills gap. But, accomplishing that feat means putting forth concentrated and ongoing efforts.