Supply and Demand Issue in Crypto Jobs & A New Crypto Freelancer Platform
Today we’re going to be focusing on crypto jobs, which is one of the most relevant topics we’ve seen in the blockchain industry since there’s a massive supply and demand issue.
Towards the end, we’ll tie this problem and demand issue with a solution, which is a KYC-free platform that connects freelancers with interested employers. Over the next 5–10 years as this industry grows, platforms like these (similar to Upwork) will have the opportunity to capitalize on the human resources in emerging markets. These people often have a lot of talent and education but are often squeezed out of job openings due to silly KYC regulations.
At the moment these people are getting paid a very tiny amount on other platforms (like Upwork) in different industries compared with what they could be making in an industry like crypto. Applying this to developments we’ve seen in the past, in 2017 centralized exchanges were super popular and you could buy whatever crypto assets were available.
However, currently, we’ve learned the problems with centralization, especially in exchanges. So we’ve moved towards decentralization and decentralized exchanges (DEX’s). This is the beautiful thing about decentralized finance (DeFi) is that you’re able to apply the principles in any market such as the job (freelancing) market in this case.
This article that we’ll cover lays it out beautifully because you have this massive problem in the market, where there’s a lot of companies like Binance for example who are hiring a massive amount of people but can’t actually fill the positions.
One of the problems we see is that most of these companies are only looking to hire in certain markets. The beautiful thing again about a KYC-less platform is that you’re able to hire anyone around the world. It doesn’t matter if you’re in Ecuador or Tanzania, none of these things matter. You can work for a company and be anywhere around the world.
It opens up a lot of opportunities to people especially considering that there is already a lack of human resources in the crypto space. In fact, there’s a supply and demand issue with jobs in general. You see this in the US where companies like Taco Bell give $500 bonuses to their employees to incentivize them to work at these uninspiring places.
When people contrast the opportunity of working at a fast-food joint vs. working in the crypto industry where you can work from wherever you want there is really no comparison. Becoming a freelancer in crypto means you also don’t have to be tied down to one individual company, so there’s a really great opportunity in the market right now.
“Booming cryptocurrency firms say they’re struggling to find the right candidates to fill hundreds of positions as a frenzy of interest in digital currencies and other assets pits them against some of the world’s biggest financial institutions.”
For the time being, centralized financial institutions like Chase or Wells Fargo might offer a more familiar or secure job for most people. Yet working for Coinbase or Binance or any one of the interesting crypto companies, in the long run, will probably be people’s preferred choice.
Especially because these are remote and office-less jobs where you don’t have to be in a physical location (though there are opportunities if you did want to be). Working online, wherever you want, presents many interesting opportunities and crypto is a rapidly developing space so there’s much room for growth.
The current state of the marketplace is laid out very nicely in this article from Bloomberg:
“Binance, the world’s largest crypto exchange is advertising for some 370 positions globally, according to LinkedIn recruitment portal. New York based Gemini plans to boost its Singapore headcount to 50 from 30 by December. Hong Kong based Crypto.com, currently lists more than 200 openings, with over half of them based in Asia.”
Companies like Crypto.com, BlockFi, Celsisus are all hiring a lot. There are also interesting opportunities on something like Simlancer where it’s not necessarily a full-time position you’re getting, but freelancing gigs where you can work on different projects. Many of which really don’t have full-time employees, and operate in a completely decentralized manner with no physical locations.
Binance and Coinbase are more centralized companies, but a large decentralized entity like Uniswap still needs people to actually come and work for them. So regardless of the type of company you have these supply and demand issues always in play.
“Despite the boom, finding candidates with relevant experience can be difficult, meaning that some companies are lowering their expectations or changing job criteria.
Understanding the job criteria is one of the most important aspects because you actually have to have the knowledge, or skill-set to come work for a company. Another benefit of working for a crypto company is that getting paid in an asset that is actually appreciating overtime vs. depreciating over time can ultimately result in massive gains.
A lot of these companies in the crypto space offer crypto as a means of payment whether if it’s USDC (a stablecoin) or other currencies like ethereum or bitcoin. Being paid potentially in these different assets can be another layer of appeal vs. just being paid in a fiat currency, which is being devalued over time.
Moving on here to DeFiDrop, which is specifically focused on the DeFi space, and is a launchpad project that Simlancer is actually launching on.
Simlancer has gigs available similar to Upwork and Fiverr, and it’s KYC-less so it doesn’t matter where you’re from in the world, your age, your name, your religion, none of these things matter. They don’t discriminate and the only thing that does matter is if you can get the job done, which is how it should be because it’s truly a free market.
Not to mention they have a really cool Simpson’s theme.
Let us know in the comments what your thoughts are about this topic.
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