The hiring process in each sector comes with its own set of difficulties and challenges. The Web3 space is no different. However, the challenges that Web3 faces in regard to manpower are quite unique. Despite the fact that proponents of decentralization and blockchain technology see Web3 as the future: there is a serious lack of people who can make a blockchain-based future happen.
Creating an effective and competent team is key to the success of any business or startup. As most recruiters know – finding and hiring the right people is much easier said than done.
In order to fully grasp why manpower is of utmost importance for the further development of Web3, we first need to go over some of the problems that the Web3 industry faces.
Expansion In Web3
The recent study report by Vantage Market Research showed that The Global Web3 blockchain Market is expanding rapidly. The report further states that The Global Market revenue was valued at USD 2.9 Billion in 2021 and that it’s forecast to grow to exhibit a Compound Annual Growth Rate (CAGR) of 41.6% during the forecast period (2022-2028). Web3 is expected to reach a value of $23.3 billion in the year 2028.
According to a LinkedIn report from 2021, data from the platform’s Economic Graph team shows job posting in the United States that included terms like “blockchain” or “crypto” grew 615% compared to those in August 2020. Even though general interest in Web3 is going through accelerated growth – there is still a serious lack of Web3 developers.
The Electric Capital Developer Report from 2021 stated that Web3 developers are at an all-time high and growing faster than ever. However, when we compare the number of active Web3 developers (around 18,000), to the number of, for example, active software developers (around 24 million, according to Evans Data Corporation), the number of Web3 developers isn’t reflective of the expansion that Web3 is going through.
Unfortunately, there is a good explanation for this.
The Underlying Issue(s) Of Manpower In Web3
Most of the manpower behind Web3 are individuals who have a strong interest in cryptocurrencies or blockchain technology in general. The vast majority of blockchain developers are self-taught, due to the fact that there is a serious absence of high-quality, up-to-date educational opportunities.
For the longest time, people who wanted to learn about blockchain didn’t have any university or educational institution to turn to. They had to learn it by themselves, often with the help of other like-minded enthusiasts who were willing to share their knowledge and experience.
Right now, there are some universities such as Cornell, Harvard, Berkeley, and so on, that offer courses and programs related to blockchain technology. The issue here is that most of these courses and programs aren’t easily accessible to everyone. Of course, there are some free courses and certifications available, however, it’s debatable how up-to-date these programs are.
The second issue with hiring Web3 talent is that experts in this field tend to have more than one professional involvement. Developers in Web3 are known to be ultimate hustlers, juggling multiple jobs at once. This means that oftentimes your Web3 hire won’t be able to focus their full attention on the project at hand, which can cause all kinds of problems down the line.
And the third potential problem - everyone is looking to hire, meaning poachers are just around the corner, looking to “nab” your talented team members in particular!
Problems When Hiring Non-Developer, Crypto-Literate Talent
Developers aren’t the only people needed to lift a Web3 project or company off of the ground. You also need non-developer, crypto-literature talent such as designers, content writers, copywriters, social media managers, and so on.
NFX’s Morgan Beller explained this in her article by saying: “Developers are hard to hire. They’re always hard to hire, but I actually believe that it’s harder to find crypto-literate non-technical talent right now. Whether it’s crypto-literate designers, lawyers, accountants, product managers, or communications experts, finding people across a variety of skill sets, but also with a baseline understanding of web3 is really challenging.”
She further claimed that she believes in order to really understand crypto and Web3 is to “do it”, meaning – build in it, publish, mint, transact, and so on. However, in order to “do crypto or Web3”, you still need to have some tech knowledge to do so.
Women in Web3
Blockchain and blockchain-based projects originated in predominantly “male industries” such as finance and tech. Therefore, it’s not a shock that there is a lack of diversity in Web3 spaces.
The Developer Nation Pulse report stated that the developer community predominantly consists of men, with 81.7% male Web3 developers and only 17.4% female Web3 developers. There is also a gap in crypto hires by gender. According to LinkedIn’s Economic Graph, from 2018 to 2021, 70% of new crypto hires were men and 30% were women. Last year, women’s share dipped to 26.5%.
This is mostly to blame on the fact that women aren’t as encouraged to seek careers or education in fields such as tech, finance, or blockchain. Currently, more and more organizations and educational institutions are taking the initiative to improve inclusivity. Some claim that the lack of women in crypto and blockchain spaces is due to the fact that women are more risk aware, therefore, less likely to dabble in crypto and NFTs.
Despite this, women and people of color are leading the way to make Web3 more accepting.
They are proving over and over again that the trailblazers behind Web3 aren’t an exclusive club of “crypto bros”. For example, during the peak of NFT popularity, women have continuously demonstrated their immense capability to create fruitful careers and reach success in the metaverse.
Forbes reported about the leading women in the metaverse, which mentioned female innovators such as Lavinia Osbourne. She is one of many women that are promoting inclusivity in Web3 spaces. Lavinia is doing this through education via her podcast “Women in Blockchain Talks”.
The integral role of education in Web3 spaces is undeniable. Without education and understanding, the further adoption of blockchain technology and visions of decentralization and ownership are practically unfounded.
Inery understands the importance of high-quality education in order to fully integrate with and understand Web3 spaces. This is one of the main reasons why Inery is organizing educational lectures in Universities where Inery’s top experts will present their knowledge about Web3, crypto, NFTs, and so on.
Inery Blockchain has officially announced its "Un-Block the Chain" program in The Faculty of Technical Sciences in the city of Cacak, Serbia. The goal of the program will be to educate students on blockchain and support their career development in this direction.
These lectures will be equally targeted towards women and men as Inery wants to help close the divide in Web3 spaces and encourage all who are interested to participate.
Apart from the educational aspect of their lectures, Inery’s developers and tech experts will also talk about the problems and difficulties that they faced during their experience in the blockchain space. This way, the students will have richer intel into the world of Web3 and all of its potential.
Inery believes that advancements and further adoption occur once skills, knowledge, and experiences are shared with new generations. Inery will also offer the opportunity for the highest-performing students to join the team through internships and official hiring.
Similarly to other blockchain-based projects, Inery wouldn’t exist if it wasn’t for the educated, experienced innovators in Inery’s team.
Inery is all about education, collaboration, ownership, and solving the issue with centralized data in the fastest, and most secure way possible.
Whether you want to keep your data inaccessible to Big Data companies or want to enhance and better data security and database management through decentralization, Inery is the solution for you.
Take a quantum data leap with Inery, and experience the pure power of blockchain technology, and community in a sustainable and cost-effective way.
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