There is a visible increase in the number of crypto-related job postings while the tech industry winds up over a forecast of recession.
Blockchain proponent and HashCash Consultants Founder, Raj Chowdhury, makes a statement, pointing out the rise in crypto jobs, globally that can substantially reduce the fear of an oncoming recession.
CNN reports a staggering 68% of CEOs quizzed by The Conference Board to anticipate the Fed’s war on inflation will subsequently result in a recession. The survey conducted between April 25 and May 9, recorded the opinions of 133 CEOs of most public companies. There is also a growing concern among economists and banks regarding a high probability of recession in the next year. The prevalent pessimism coincides with the continuing slide in the financial markets. The recent weeks witnessed many major tech companies announcing a reduction in staff, citing a downward climb in the traditional market and falling demand for products that had shot up during the pandemic.
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The situation in the crypto sector, though, is far from grim. There is apparently no slowdown in operations or recruitment, according to the HR Manager of HashCash Consultants. “We’re aware of the paring back of employees that are currently taking place in some of the big-tech firms,” she said. “HashCash is expanding and our hiring has seen no slack.”
A large number of other crypto enterprises have similarly negated any concern of cutbacks. Mr. Chowdhury echoes the sentiment. “The rise in job opportunities in the crypto sector globally will neutralize the risk of recession,” he remarked.
A LinkedIn research revealed that job postings in the crypto domain have increased 395% from 2020 to 2021 against a 98% rise observed in the tech industry during the same period. Blockchain developers were the most common profiles in demand.
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A huge number of tech firms are looking to incorporate blockchain technology into their existing systems. “Such projects will keep opening doors of opportunities for various job profiles,” revealed Chowdhury.
Chowdhury has earlier suggested that the inflation-hit market should offer the ultimate test-environment for the crypto to prove its utility. Harnessing the opportunities in the Middle East, he has announced establishing a Dubai development center. Chowdhury-headed HashCash Consultants has resumed office after two years and currently operates in a hybrid model.
Raj Chowdhury is positive about the emergence of the crypto industry despite its recent collapse leaving 40% of the investment underwater. “The infallible alternative to the obsolete legacy systems and traditional vehicles is bound to appeal to industry leaders as well as the masses,” concluded Chowdhury.
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