As cryptocurrency companies grow in both size and popularity, their need for skilled talent to join their ranks increases.
With the announcement that Binance, the biggest crypto exchange is coming to Malta, and more on the way, it looks like the island will need all the talent it can get to support this hugely innovative new industry.
While the media has so far focused on how many new jobs will be created, it won’t help anyone if such vacancies cannot be filled.
We need to start thinking and looking at the top new types of crypto professions that are likely to see a boom – the skills and knowledge required.
New technologies – especially those as revolutionary as the blockchain – add pressure on all kinds of industries to adapt and the talent pool is expected to keep up. At the very least this means that the training provided by educational institutions also needs to step up and adapt to these changes.
Here at the new roles, Malta will need by 2020 to keep up with the crypto market and become the blockchain island it wants to be!
Top Crypto-Related Professions
CRYPTOCURRENCY COMPLIANCE OFFICERS
While currently, crypto and blockchain are a niche area in compliance departments and law firms, they are quickly developing within their own unique regulatory framework.
Malta has already published a white paper which highlights the setup of a Digital Innovation Authority which will be introducing a regulatory framework that covers crypto.
If the new regulations are specific enough, this area could end up as a separate sphere of compliance expertise, rather than a branch of existing securities compliance, and with that regulatory structure comes a need for professional advice in interpreting the rules.
Some of the biggest growth in job opportunities for the industry will come with the emergence of ICOs as companies will be looking for employees with skills to manage this new way of raising money.
Experienced engineers who’ve worked on or have sufficient knowledge of cryptocurrency/blockchain projects will be in high demand.
Blockchain developers are expected to have a very strong foundation in programming languages such as C++, Solidity, Python and Java to understand open source codebases and/or dApps.
Knowledge of blockchain platforms such as Ethereum, Hyperledger and Corda will become increasingly important as the blockchain ecosystem matures.
Smart contract developers will also be needed in a “hybrid” role combining technical skills and compliance skills knowledge to create advanced smart contracts for Ethereum using the Solidity language and APIs to read, write, and change data on the blockchain.
Read more in our guide on How To Become a Blockchain Developer.
CRYPTOCURRENCY PROJECT MANAGERS
These will be the ultimate wranglers of all the moving parts of a project. They ensure that everything comes together on time, on budget and within specifications.
They do this by mastering both the technical and the business domains, and then translating technical concepts to the business stakeholders and back again.
CRYPTOCURRENCY DATA SCIENTIST
Cryptocurrencies are notoriously volatile in their valuations, with prices dropping or surging depending on what the market backs at lightning speed.
While this represents a risk to more cautious traditional investors, it can also be seen as an opportunity for more technically minded businesses.
With the right data science and analysis team, one can predict cryptocurrency market movement with deep learning and data-driven insight to drive buying and holding patterns.
Who Else Will Be Needed?
The new industry will also require professionals in other job functions that do not require a technical background such as marketing, business development, operations, customer support, and UX/UI design.
These roles will be customised over time to the specific demands of the crypto/blockchain environment.
Just like what happened with igaming, and in-depth knowledge of the ecosystem will be highly sought after by employers looking for talent that is able to hit the ground running.
As with all booms, it is likely that there will be a period of time during which the number of jobs created by the industry will exceed the number of available professionals qualified to fill them.
While attracting investment and companies is a good first step, talent shortages could hinder the country’s ambitions. With companies are already hiring, the talent pool must be prepared with the right tools, skills and knowledge to be able to serve the industry’s demands.
Read more about Malta Blockchain and Cryptocurrency Regulations.