The nascent cryptocurrency market is already being hit by the "perfect storm" as the space suffers from a lack of specialists, The Seattle Times has learned. Sandy Carter, a former Vice President of Amazon's cloud computing unit, said the momentum the community is seeing in the space right now "is just incredible."
It’s the perfect storm.
Indeed, the labor market in the blockchain space is way more highly paid than in other areas. According to CryptoJobsList, the average Solidity Engineer gets $107,335 per year with the general average salary hitting $91,650 per year.
Read also: Guy Left His Job to Become Coinbase Analyst
While newcomers do really need to understand the crypto industry if they want to work for a crypto company, there is no need for deep technical knowledge. Most of the jobs are non-technical, the platform says.
Google former executive Sridhar Ramaswamy says there is a "giant sucking sound coming from crypto." He emphasized:
It feels a bit like the 1990s and the birth of the internet all over again. It’s that early, that chaotic and that much full of opportunity.
Meanwhile, To The Moon reported that according to Crypto.com's estimates, the market's user base will increase by 708 million holders from the current 292 million as developed nations will "devise clear legal and taxation frameworks for crypto assets."
The company also assumes more nations facing a highly inflationary economy and depreciating currency follow El Salvador in adopting cryptocurrency as legal tender.