The COVID-19 outbreak has left the global economy in turmoil. Despite the injection of trillions of dollars into the economy, the situation is sensitive as of now. Countries like India and the US have hit their highest unemployment rate in history. However, the blockchain industry seems to be in a separate league altogether.
Blockchain-based Jobs are Rising
According to the reports from Indeed.com, there were approximately 114.5 million blockchain-based jobs globally in December 2019. The world has literally been shaken since then with the coronavirus outbreak. Almost all industry sectors have taken a hit and have responded with salary cuts, if not job cuts. Interestingly, blockchain-oriented jobs have increased across the world in the same time period. According to reports, jobs in the blockchain industry stood at $118.4 million in February, which is 3% more as compared to December last year.
In fact, as per a report, blockchain expertise is the most in-demand skill of 2020 apart from cloud computing, analytical reasoning, and artificial intelligence
Blockchain Industry Amid COVID-19
Experts in the blockchain industry are quite optimistic about the future of crypto. Some believe that once crypto decouples from the traditional stock, it will grow in value immensely after a slight dip initially. The general opinion in this space is that crypto will recover and be a viable alternative to the traditional finance market soon.
BitMEX CEO Arthur Hayes commented a few days ago, “BTC will hit the $20K mark by the end of 2020.”
On the other hand, Jihan Wu, founder of Bitman commented, “There are two reasons: first, from China and its neighboring countries experiences, coronavirus can be obtained and taken under control in about 2 months. Secondly, countries around the world are adopting great quantitative easing monetary policies.”
On the other hand, Tyler Winklevoss, co-founder of the Gemini cryptocurrency exchange is of the opinion that Bitcoin is the only resistance to the money printing disease in today’s economic recession.