Copy link
Increase text size
Decrease text size
Link copied

Blockchain salaries drop in China despite rising value of skills

Image by BXGD from Flickr

Wed, 25 Mar 2020, 07:41 am UTC

Blockchain technology has become even more popular as an increasing number of companies and countries started using the technology. However, it is reported that the blockchain salaries have dropped in China.

Based on the “2020 China Blockchain Professional Development Report,” blockchain professionals’ salary offers have reduced by 37% annually since 2018, Cointelegraph reported citing local publication Sina Finance.

Beijing-based headhunting agency Liepin and Interchain Pulse, a blockchain professional information service platform, provided the report. Despite the significant drop in salary, there is a notable increase in demand for blockchain professionals in different industries. The surging demand is reportedly accompanied by an imbalance between the supply and demand in the said field.

The study noted that only very few candidates meet the job requirements of the companies. The lack of high-end professional skills is also one of the reasons blockchain adoption is slow.

“In the supply-side market, a large number of practitioners blindly follow the trend, their professional skills are weak, and there is a serious shortage of practical compound talents,” the report said.

Meanwhile, the Bank of China (BoC) has continued its anti-crypto narrative. According to a recent report, BoC released a long post warning the public against investing in cryptocurrency on its official account on WeChat on May 22.

“First of all, the amount of fraudulent transactions with bots is serious. The average turnover rate of the top three overseas cryptocurrency exchanges is much higher than that of foreign licensed exchanges. Second, market manipulation exists in these exchanges where forced leveraged trading eventually causes the exchanges to explode. Third, money laundering is a big issue,” BoC said.

Despite the BoC’s reservations about cryptocurrencies, the country is already working on its own central bank digital currency (CBDC). The people in the country is well-used to digital banking and once the CBDC is ready, the people are expected to use it.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $7,290.74 (+0.35%)
  • Ethereum (ETH) $170.93 (+0.41%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $265.31 (-0.87%)
  • Bitcoin SV (BSV) $218.20 (+6.01%)
  • Bitcoin (BTC) $7,290.74 (+0.35%)
Feb 21, 2020 (Friday)
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
Brazil to launch new payment system in response to cryptocurrencies
Digital currency exchange Coinbase Pro lists Kyber Network token
Norwegian Air to soon start accepting crypto payments
Swedish central bank begins CBDC pilot with Accenture
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
Telecom companies complete cross-carrier mobile payments using blockchain
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
South Korean ICO project discontinued, to return $7.5M to token holders
Samsung maintains crypto support in soon-to-launch Galaxy S20
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
Coinbase becomes first crypto company to receive Visa principal membership
Dubai Economy and six banks launch KYC Blockchain Consortium
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.