Why This Financial Firm Is Hiring The Most Number for Blockchain Positions?

JPMorgan has been causing quite the chatter in the market for the past few months, due to the recent launch of their native cryptocurrency, JPM Coin. However, that’s not the only reason why the largest bank in the United States is making headlines.

Recent reports claim that JPMorgan has been hiring for more blockchain related jobs than any other firm on Wall Street. The financial giant also happens to be the only financial firm on the list of top ten companies posting jobs  with keywords such as ‘blockchain’, ‘cryptocurrency’, or ‘Bitcoin’ since 2018.

The few companies that have upstaged JPMorgan in this respect are Accenture, KPMG, EY, IBM, Cisco, and Deloitte. So in case you are wondering Who Offers The Most Number Of Blockchain Related Jobs?, the answer would be Deloitte.

Due to the massive rise in popularity of blockchain and cryptocurrencies, there has been a noted 4,086% increase in the number of job postings related to cryptocurrencies and blockchain technology since 2016, according to job portal websites. Andrew Flowers, the economist at Indeed.com, a popular job portal, stated:

“It’s notable that there’s a lack of financial and banking companies hiring for something that’s made to replace money.”

Blockchain is becoming quite the favourite for many financial firms, due to its ability to resolve cross-border payment issues. In this context, the World Bank had released a blog where they stated:

“In 2018, Ripple, a FinTech company, piloted xRapid, a DLT-based cross-border payments solution, along the very competitive U.S.-Mexico corridor. Financial institutions involved in the pilot saved 40%-70% in foreign exchange costs, and the average payment times was just over two minutes. The transfer of funds on xRapid took two to three seconds, with most of the processing time explained by domestic payment rails and intermediary digital asset exchanges.”

As we see more and more financial firms use blockchain technology, we realize the benefits of this technology in bringing down costs and preventing fraud transactions.