Nearshore Americas

Lack of Blockchain Experts Hampers LatAm’s Crypto Adoption

While the popularity of cryptocurrencies is growing in Latin America, the region faces an acute shortage of professionals with expertise in blockchain technology.

There is high demand for crypto and blockchain talent in Brazil and Mexico, according to a study jointly conducted by LinkedIn and crypto exchange OKX.

The number of blockchain positions lying vacant has increased by 500% in Brazil and 190% in Mexico in the past year.

The global supply and demand of talent in the field is “out of balance”, reads the report. In other words, the countries that are adopting cryptocurrency have fewer experts while the countries that are not adopting cryptos have a greater number of professionals.

The United States and India have seen significant growth in blockchain talent over the past few years, according to the report. India recorded a 122% increase while the United States experienced a rise of 62%.

According to the report, blockchain professionals need to have knowledge of both technology and finance.

Moreover, they do not stick to any employer for many years. The average tenure of global blockchain talent is 1.2 years, the report noted.

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The Latin American countries with a higher rates of crypto adoption are Venezuela, Argentina, Colombia and Brazil.

Narayan Ammachchi

News Editor for Nearshore Americas, Narayan Ammachchi is a career journalist with a decade of experience in politics and international business. He works out of his base in the Indian Silicon City of Bangalore.

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