The Crypto Industry Is Expanding
The growing industry faces talent shortage, study shows
Credit: pixabay - asmuSe
2nd Global Cryptoasset Benchmarking Study reveals new findings for 2018. Based on latest study conducted by The Cambridge Centre for Alternative Finance (CCAF), Cambridge Judge Business School, new insights gathered from survey data from 180 cryptoasset companies, covering 47 countries across five world regions have been analyzed. Source: University of Cambridge
The key segments of the crypto industry include:
Mining - Hardware manufacturers, pool operators, proprietary mining as well as cloud mining services
Storage - Mobile, web, desktop, vault and hardware wallets
Payments - Merchant services, remittances, cross-border payments, micropayments
Exchange - Brokerage, OTC trading, order book exchanges
Credit: pixabay - keshavnaidu
Service providers are increasingly in two or more segments of the crypto industry - with a markedly increase from 31% to 57% of the service providers involved in multi-segment operations.
In terms of employment, the total industry headcount has grown by 164% in 2017, particularly in the storage and exchange segments. Firms in the study continue to grow by 54% (Q1 FTE growth), despite the global market crash during Q1 2018. This has resulted in a talent shortage in the industry in early 2018.
The industry is currently driven by companies based in North America, China, India and Western Europe. Majority of the headquartered entities are situated in countries such as the USA, China, Japan, India, Canada, and the UK. Emerging headquarters are situated in Russia, Brazil, Australia and South Korea.
While service support remains the highest for Bitcoin wallets, multi coin support has nearly doubled from 47% to 84% in 2018. The rise of ERC-20 tokens and ICOs listings on the exchanges may have spurred for the increase support for multi coins.
Credit: pixabay - Erdenebayar
A naive extrapolation would then suggest that between 2% and 9% of the population of developed countries would have owned cryptoassets as of mid-2018, a figure that would amount to between 28 and 126 million unique users.
The raw numbers do not include the population from non-developed countries, however ID-verified users are reaching an estimate with a minimum of 35 million, up from 18 million in 2017.
Do read up on the 96-page report for more information on user activity and location.
I have yet to complete reading the entire report, follow and keep watch on your feed for the latest updates about this report.
-tysler
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This is some good info to go through, thanx for sharing this :)
It's good to know some specifics in the crypto world... It shows just how much it is recognized, especially in big companies around the world... As well as blockchain technology.
I think the expansion has led to the downfall of crypto market
Market is not yet at full maturity, so there's a lot of room for trial and error. But it helps evolve the market to provide something unexpected - like the internet where 30 years ago, nobody thought they needed it.
yeah you are right
I would like to know is how they will make the coins return to have a rising price.
@crypto.piotr
I love to read how this industry is getting bigger and bigger @tysler :)
It gives me a thrill stronger than looking at price charts.
ps. I was just wondering, how big is traffic to your website coming from Steemit? Did you ever measure it?
Yours
Piotr
Hi @tysler Sir,
What an enlightening article about crypto industry this one is!
From the info I have read regarding crypto, I understood one thing very clearly. Whatever problems this industry may face, nothing can stop the thumping success of the crypto industry that this is going to achieve very soon!
When we see the numbers, we can understand that it's painting an encouraging picture about crypto.
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