Blockchain
Blockchain Engineer Salaries in Asia Drop by More Than 5%
Salaries for blockchain engineers went down in 2023 due to tough times in the industry, like layoffs and companies not hiring as much.
A recent NodeFlair report found that countries prioritizing startups and big tech experienced larger drops in blockchain engineer salaries. This highlights the impact of the overall economic and business climate on compensation levels in this field.
In Singapore, blockchain engineer salaries decreased by 5.4% year-over-year, the report showed. On average, junior engineers received 6,750 SGD, while senior engineers earned about 10,000 SGD. Similarly, blockchain engineer salaries in India experienced a decline of nearly 6%.
“In contrast to the preceding two years, during which technology salaries experienced substantial growth, there is now an overall decrease in salaries for various tech positions,” the firm wrote. However, the report acknowledged that compensation levels remain elevated compared to those seen in 2021.
Multifaceted Downturn Behind Blockchain Salaries Squeeze
The observed decline in salaries stems from a confluence of factors. Workforce reductions, hiring freezes triggered by regulatory actions against major crypto exchanges Coinbase and Binance, and FTX’s collapse last year significantly impacted compensation levels.
Other factors include a decline in enthusiasm surrounding the metaverse and a period of prolonged crypto market decline. A general slowdown in hiring within the tech sector followed a period of pandemic-driven expansion, contributing to this trend. Further, venture capital funding scarcity in Southeast Asia exacerbated these challenges.
In one example, Chinese Bitcoin mining machine manufacturer Bitmain was forced to delay salary payments due to cash flow challenges.
AI & Data Science Skills In High Demand
Software engineer salaries also fell at the same time, though the decline was less pronounced than that observed for blockchain engineers.
According to NodeFlair, a key trend for the coming year is the sustained rise in demand for expertise in artificial intelligence and data science. The need for professionals skilled in machine learning, natural language processing, and data analysis is anticipated to experience significant growth.
Software engineers with a strong foundation in these areas will likely be highly sought-after. Companies will most likely strive to integrate AI technologies into their core functionalities.
US Crypto Salaries Shine Brighter
A comparative survey conducted in March revealed a trend of US-based crypto companies offering higher salaries across various job roles and experience levels when compared to their international counterparts. The survey indicated that US crypto salaries surpass those offered abroad by an average of 13%, with equity and token-based compensation packages being 30% more generous in the US.
Source: cyptonews.com
The post Blockchain Engineer Salaries in Asia Drop by More Than 5% appeared first on HIPTHER Alerts.
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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