Media: Demand for blockchain specialists is declining in Hong Kong

According to Sue Wei, director of Hays, over 150 applications for licenses by cryptocurrency companies are under consideration by the Hong Kong regulator. However, despite the booming industry, the number of vacancies is growing slowly. Moreover, after the collapse of the cryptocurrency market, the number of applications for finding employees from crypto firms has significantly decreased.

“A lot of Web3 companies are in the early stages of development. However, we expect an increase in the number of vacancies as such firms mature and grow,” hopes the director of Hays.

Su Wei says that since the market crisis began, many crypto firms have reduced staff. And now highly qualified specialists are afraid to work in this area of the economy “due to the unstable nature of the business, which relies heavily on the value of cryptocurrencies.”

The colleague was supported by the founder of Cryptorecruit, Neil Dundon. According to him, there is not yet much demand for blockchain specialists in Hong Kong, despite the change in regulation. However, the businessman expects a quick surge of interest in vacancies.

Michael Page's Hong Kong director Olga Yang also expects a significant increase in job openings. According to her, there is an increase in demand for specialists in the field of cryptocurrency laws and compliance.

According to Kevin Gibson, founder of Proof of Search, a Web3-focused recruiting firm, job openings will begin to rise in six months as many firms await license approval. Even a "war for personnel" is possible, as many specialists have left Hong Kong in recent years, so the overall "talent pool" is quite small. And when the number of vacancies begins to grow, the businessman argues, there may not be enough Web3 specialists for everyone.

Recently in Hong Kong, they proposed issuing a state stablecoin pegged to the local currency.