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US megabank JPMorgan to hire more blockchain talent

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Investment bank JPMorgan is expanding its cryptocurrency and blockchain division to develop projects based on Bitcoin and Ethereum, as well as PoS blockchains.

The bank’s website contains 84 vacancies for developers with experience in blockchain. They are looking for both development engineers and SRE specialists and project managers in this area.

There are vacancies for marketers and auditors. However, most of the vacancies have been posted in recent days. The bank offers work not only in the USA. But also in Singapore, India, Hong Kong, Great Britain and several other countries. However, most of all people required in the USA. They will work at the bank’s digital currency division Onyx, as well as JPMorgan’s own blockchain called Liink.

Recall that in March, JPMorgan posted 56 blockchain vacancies, some of which were related to JPM Coin.

It looks like JPMorgan is serious about expanding its divisions to support cryptocurrency investment vehicles. The company plans to expand its focus on digital assets, including Ethereum.

Earlier this month, the bank’s analysts reported that Ethereum’s transition to the Proof-of-Stake consensus will increase staking revenues to $40 billion by 2025. The transition to PoS will attract new funds to the Ethereum ecosyste. As it is a fairly reliable investment, especially against the background of the current zero rates on traditional investments.

JP Morgan continues to expand its digital asset team

In recent years, blockchain specialists have become more and more in demand. There are such vacancies in almost any large financial structure, not to mention initially cryptocurrency startups. For example, such specialists required in Grayscale and MicroStrategy.

Although a year ago, financial and banking institutions practically did not open vacancies in this segment.

Note that JP Morgan’s relationship with cryptocurrencies is highly controversial. JPMorgan CEO Jamie Dimon has criticized cryptocurrencies more than once. However, despite the critical attitude of the head of the bank to cryptocurrencies, top managers at JP Morgan continue to increase the staff of specialists in digital assets every year.

Compared to the rest of the largest investment banks, JP Morgan has already hired the largest number of such employees at the moment and continues to publish vacancies from the blockchain industry.

JP Morgan is one of the top 10 job posting conglomerates with the keywords cryptocurrencies, Bitcoin and blockchain.

Many companies are looking for blockchain specialists

As for the general situation on the market, it was the first time when the preponderance of supply over demand was recorded. In the reporting period, there was a 67% decline in the blockchain segment, which correlated with a decline in prices for bitcoin and other cryptocurrencies.

Jobseeker interest has dropped as it follows the price of bitcoin. This interest is as volatile as the price of BTC.

The growth in the number of vacancies, according to researchers, is due to the fact that more and more large companies are exploring non-cryptocurrency use of blockchain.

To narrow the gap between supply and demand, organizations are beginning to train blockchain specialists themselves.

Many companies are not directly interested in cryptocurrencies, but are looking for blockchain specialists to apply distributed ledger technology to the development of innovative products.

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