Thursday, October 24, 2019
Blockchain Technology Creates New Jobs
From Trades to Analysts
Blockchain Technology Creates New Jobs
  • By Yoon Yung Sil
  • August 29, 2017, 05:30
Share articles

The blockchain technology is introducing new jobs, which have never existed before, in the industry.
The blockchain technology is introducing new jobs, which have never existed before, in the industry.

 

As the domestic digital currency market is growing and the blockchain technology is introduced to the existing industries, new jobs that have never existed before are being created.

According to investment banking industry sources on August 28, South Korea’s blockchain company builder Chain Partners is hiring digital currency asset traders and analysts. In particular, digital currency asset traders are now working at foreign digital currency brokerage firms including Bitcoin but Chain Partners has become the first company to hire employees with the job title of digital currency asset trader in the domestic industry.

Traders intermediate large transactions which are too big to trade through digital currency exchanges. They contract buying and selling after taking an order from customers. Chain Partners plans to give preferential treatment to those who have experience working in the investment banking industry such as asset management or investment consulting. Chain Partners Chief Executive Officer Pyo Chul-min said, “In other countries, private funds deal with digital currency assets and banks also provide digital currency asset transaction services to customers with large amounts of assets. Considering such a global trend, we are hiring traders to meet the demand of international transactions from institutions in the future.”

Digital currency analysts will be in charge of analyzing technical, social and institutional issues of various digital currencies including Bitcoin, Ethereum and Ripple. Unlike analysts in the stock market, however, they are expected to work for investors across the world. This is because same digital currencies are traded through private exchanges around the world beyond the physical border. About three to five digital currency analysts work at the domestic digital currency exchanges such as Bithumb and Coinone. Some market watchers say it’s just a matter of time before fund managers who manage digital currencies as assets appear.

There are also blockchain data analysts. Coinone Chief Operating Officer Shin Won-hee said, “In the existing stock market, numerous companies, including Bloomberg, provide raw data and analysts use them. However, there are no data formed in the digital currency trading market yet. Digital currency data analysts are now creating data from the volume of transactions to the amount of trasactions.” Coinone is hiring three blockchain data analysts.

In addition, domestic blockchain firms, including Chain Partners, are hiring digital currency and blockchain investment advisors, marketers and researchers.

Not only blockchain companies but also commercial banks create various blockchain-based jobs. Woori Bank and Shinhan Bank have formed a task force for the blockchain technology, hiring experts including developers. Notably, there are people working as blockchain technology developers, consultants, mining pool operators and digital currency fraud detectors in other countries so similar jobs will be created in South Korea in the near future.”