JPMorgan Leads Blockchain Hiring as Job Openings Ramp Up

By Landon Manning

The multitrillion-dollar banking titan JPMorgan Chase (JPM) is currently head-and-shoulders above competing banking firms in hiring blockchain industry specialists, Forbes reported last month.

As jobs-listing website Indeed.com revealed, over the past year, JPMorgan Chase was the only financial firm in the top ten companies that posted jobs containing the words “blockchain,” “cryptocurrency” or “bitcoin.” Forbes went on to note that the only companies to post more jobs in these fields were those directly working in the tech industry, like IBM and Cisco, accounting firms like Deloitte and EY, or blockchain builders like ConsenSys and Microsoft.

In February, JPMorgan unveiled its plans to launch JPM Coin, “to use blockchain to simplify payments between its clients,” after building a platform on the Ethereum blockchain “designed to let enterprises capitalize on the benefits of using a shared ledger similar to bitcoin’s blockchain, but with more control over privacy and faster speeds.”

Andrew Flowers, an economist at Indeed.com, analyzed blockchain hiring trends and said, “It’s notable that there’s a lack of financial and banking companies hiring for something that’s made to replace money,” and that the site is currently seeing more postings than job searches in blockchain-related fields. Flowers also said that “job-seeker interest has collapsed because it tracks the price of bitcoin” and therefore “is as volatile as the price of bitcoin.”

Regardless of the interest that qualified people have in filling these jobs, however, the continued pace of job postings could yield interesting insights into the state of major firms’ relationship to distributed ledger technology. Forbes specifically drew attention to “the recent increase in the number of large companies exploring non-cryptocurrency applications of blockchain,” attempting to mimic the advantages of this same technology that allows money transfers without the use of a bank as a middleman.

Indeed.com reported that since 2016, related job postings to the site have increased by 4,086 percent, while job searches have increased by 553 percent, prompting initiatives to try and train new talent to fill in this gap. Forbes stated that the vast majority of these jobs are located in the “usual suspects” of major U.S. cities, taking place in national and regional tech hubs such as San Francisco, Seattle, Austin, New York City, Boston and others.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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