HomeLatest NewsBlockchain salaries spike due to high demand in China

Blockchain salaries spike due to high demand in China

August 6, 2020 By Nicholas Say

Demand for Chinese blockchain developers demand is at an all-time high

According to recent reports — blockchain specialists are in high demand in China. Salaries now start at $2,865 and top out at $7,000 per month. After President Xi Jinping’s speech on the subject in 2018, the blockchain industry has become a hot area of development.

By making blockchain technology a driving force of China’s future technological advancement, the adoption of blockchain has been adopted by prominent firms, such as Alibaba, Tencent, Baidu and Huawei.

Many government agencies are also looking for blockchain specialists. Prominent players like Ant Group, a subsidiary of Alibaba, adopted plans to ensure a stable flow of blockchain talent.

Early last month, Ant Group launched a recruitment and training program for blockchain talents in cooperation with top domestic and international universities, most notably the Massachusetts Institute of Technology (MIT).

The program will be recruiting new graduates for the next 20 years; assuming the US does not put a stop to Chinese development programs in US universities.

Blockchain is a leading force in China

Last month, Beijing published a 145-page document laying out the city’s plan for blockchain adoption in the upcoming years. It was reported that over 140 federal agencies have already adopted blockchain into their operations, having met with extremely desirable results.

Additionally, instructions were given to construct a special economic zone in southern Hainan for the concentration of blockchain development.

Ant Group also introduced AntChain to help propel the adoption of blockchain into mainstream commercial use. The AntChain release is accompanied by a blockchain workstation, which can create a blockchain platform for business within 20 minutes.

The government is encouraging large tech and startup firms to research and to develop the new technology. This has resulted in a deficit of blockchain specialists, hence the large salary offers to try and attract talent.

Alibaba is also collaborating with the Chinese Government on many projects, including the controversial social credit score (SCS) via Alipay.