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American Banking Sector Sees Increase in Blockchain Technology Jobs

Last Updated March 4, 2021 4:50 PM
Rebecca Campbell
Last Updated March 4, 2021 4:50 PM

Companies are stepping up their recruitment process by offering a number of blockchain technology related jobs as companies realize the potential of the blockchain.

According to Yahoo Finance , IBM recently announced that it was undergoing a major internal reorganization to focus on the blockchain.

IBM has created a new unit called Watson Financial Services, which includes Watson, cloud, and blockchain-related strategy.

Searching for Blockchain Technology Jobs

A search for blockchain jobs on sites such as Indeed and Monster.com bring up postings from companies such as Bank of America, Capital One, IBM, and JPMorgan to name a few.

Jobs industry

Amazingly, most of the requirements for these new job postings have been unheard of until now.

As blockchain technology takes off with major banking and financial institutions investing heavily in the growth of blockchain, other organizations are jumping on the bandwagon too. It is hoped that these new job profiles will help to create internal blockchain experts that will be vital for its future development.

According to Yahoo Finance, ‘to see blockchain job openings at big banks, payment processors, or financial firms is the surprise.’ Unlike seeing job postings at payment apps that utilize the bitcoin blockchain such as Circle, which already exist in the blockchain space.

Rise of Automated Jobs

Of course, with the introduction of blockchain technology moving forward blockchain is likely to eliminate jobs in the future too.

According to a report by CNN Money , 30 percent of bank jobs could be lost between 2015 and 2025 due to retail banking automation.

However, many don’t have to worry about their jobs at the moment, though, as companies exploring blockchain technology are still researching and discovering what the technology is about. This requires hiring new people to explore the technology.

Soon, though, it’s likely that there will be thousands of job profiles seeking new blockchain experts and not just the hundreds at present as more corporations turn their attention to blockchain technology.

Images from Shutterstock.