Blockchain industry faces talent shortage

A lack of human resources in the booming blockchain industry is one of the biggest problems in developing blockchain projects in the country.
Blockchain industry faces talent shortage
Competition for blockchain talent is becoming fiercer. — Photo tinnhanhchungkhoan.vn

A lack of human resources in the booming blockchain industry is one of the biggest problems in developing blockchain projects in the country.

A challenge from the rapid development of blockchain is that although there are many programmers in Việt Nam, the number of engineers who have an understanding of the technology and can apply it remains modest, said Trịnh Ngọc Đức, director of the company which developed the Fight of the Ages game.

Đức said that the shortage made recruitment difficult. Meanwhile, Việt Nam had not had many training programmes to meet the needs of the blockchain industry.

“The scarcity of experienced blockchain programmers affects the product development process and leaves many potential projects unimplemented,” he said.

The shortage of blockchain human resources became a big problem, with Việt Nam among the global blockchain leaders, and the application of blockchain spreading to several industries such as finance, education, healthcare, logistics and agriculture.

Technology director of FPT Group Vũ Anh Tú said that blockchain had been applied in more than 50 sectors.

Nguyễn Ngọc Dũng, President of the Việt Nam E-Commerce Association, said there were about 600 GameFi (play-to-earn blockchain games) projects.

The existing human resource only met 15-20 per cent of the recruitment demand, said Kevin Tùng Nguyễn, CEO of JobHopin.

He said that three employees of his company quit jobs recently because they were paid three times more by rival companies. This demonstrated how the market was thirsty for blockchain programmers.

The competition for talents is becoming fiercer, he added.

According to Nguyễn Thị Ngọc Dung from the National Innovation Centre , human resources was a problem for many Vietnamese blockchain companies.

She pointed out that many blockchain companies faced difficulties due to the shortage of human resources and the competition for talents among companies in the same industry.

The blockchain industry was growing fast, but there was a severe lack of resources for the industry, she stressed.

Some companies were forced to look for programmer teams in foreign countries, such as the UAE, India, South Korea and Europe, Dung said.

Blockchain had not been taught at universities. Thus, she said it was necessary to increase training through international cooperation programmes, adding that innovation centres should have labs and short-term training programmes to update new technologies for students.

Successful start-ups in the blockchain industry could also provide training courses to students, she suggested.

Nguyễn Hữu An, founder and director of the technology company SotaTek, said there were currently no schools or specialised training courses on blockchain technology. At the same time, self-study remained the key, leading to a shortage of highly qualified workers in the industry.

As the number of blockchain projects increased rapidly, the shortage of talent became more severe, An said.

According to Cái Đặng Sơn, director of Product & Engineering of Navigos Group, paying high salaries to attract talents was only a short-term measure.

Sơn said that enterprises should pay attention to training programmers who were considered the key and measures to encourage their long-term commitment.

A survey by VietnamWorks on more than 1,000 people working in the IT industry revealed that blockchain engineers got the highest salaries.

Not only Việt Nam but many countries are facing a shortage of blockchain talent. A report by social network LinkedIn showed that the recruitment demand for blockchain programmers would continue to increase this year.

The LinkedIn statistics showed that job postings with the keyword “blockchain” increased by 395 per cent in 2020-21 in the US.

Positions like “blockchain engineer” and “blockchain programmer” alone accounted for 15.64 per cent of the total number of jobs on LinkedIn. — VNS

Source: VNS
vietnamnews.vn

Related News

2023 WCO Technology and Exhibition officially opened

2023 WCO Technology and Exhibition officially opened

VCN - The WCO Technology Conference & Exhibition 2023 is underway at the National Convention Centre in Hanoi, Vietnam on 10th October. It is co-hosted by the World Customs Organization and the General Department of Vietnam Customs.
Without a uniform legal framework, money launderers wolfed down cryptocurrency

Without a uniform legal framework, money launderers wolfed down cryptocurrency

VCN - Rapidly developing blockchain technology expose financial industry to not only breakthrough growth for but also poses new challenges for the task of preventing and combating money laundering.
Blockchain facilitates international trade

Blockchain facilitates international trade

Blockchain, which helps store information transparently between parties and can’t be faked, is considered an effective tool for the development of international trade as well as the digital economy.
Start-up enterprises are in recovery

Start-up enterprises are in recovery

VCN - With efforts towards digital transformation, calls for investment capital and cooperation for development, many start-up enterprises (start-ups) in Vietnam have quickly recovered and grown steadily. Many ups are even forecast to become the next "unicorns" (star-tup enterprises with a capitalization of over US$ 1 billion).

Latest News

Vietnamese enterprises facing challenges from cross-border e-commerce platforms

Vietnamese enterprises facing challenges from cross-border e-commerce platforms

VCN – In recent years, with the rapid development of cross-border e-commerce (CBEC) platforms, domestic enterprises in Vietnam have been facing numerous difficulties and challenges.
Vietnam, Malaysia eye new milestone in trade ties

Vietnam, Malaysia eye new milestone in trade ties

The official visit to Malaysia from November 21-23 by Party General Secretary To Lam is expected to open up new opportunities for and mark a new milestone in the economic and trade cooperation between Vietnam and Malaysia. Vietnam and Malaysia are key economic, trade, and investment partners. Their economic and trade ties have steadily grown since the two nations established diplomatic relations in 1973.
Shrimp exports surge in 10 months, generating 3.2 billion USD

Shrimp exports surge in 10 months, generating 3.2 billion USD

Vietnam’s shrimp exports in October reached US$394 million, a strong 24% increase year-on-year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Vietnam’s exports to the U.S. near US$100 billion milestone

Vietnam’s exports to the U.S. near US$100 billion milestone

VCN - By the end of October, Vietnam's exports to the United States approached US$100 billion, reaffirming its position as Vietnam's largest export market.

More News

From the “abnormal” coffee price, worries about the new crop

From the “abnormal” coffee price, worries about the new crop

VCN - The Vietnamese coffee industry enters the new crop with the question of what is a reasonable price to ensure benefits for coffee growers while still retaining international consumers.
What obstacles limit the market share of Vietnamese goods in the UK?

What obstacles limit the market share of Vietnamese goods in the UK?

VCN - Vietnamese goods account for only about 1% of total imports into the UK market. One of the reasons is that they have not yet built their own brands and have not focused on effective strategies and approaches to market information.
Why seafood exports to some Middle Eastern Countries are stalled

Why seafood exports to some Middle Eastern Countries are stalled

VCN - Several shipments of seafood exported to certain Middle Eastern countries have been delayed due to legal challenges related to consular legalization procedures. This has created significant bottlenecks in accessing these markets.
Storm No. 3 destroys profits of many insurance companies

Storm No. 3 destroys profits of many insurance companies

VCN - Due to the impact of storm No. 3, the business results of the third quarter and the first 9 months of 2024 of the insurance sector have been significantly affected. This requires more efforts from businesses for the results of the whole year 2024.
Vietnam, Malaysia eye golden partnership opportunities in Halal industry

Vietnam, Malaysia eye golden partnership opportunities in Halal industry

Cooperation in the Halal industry can help Vietnamese products reach nearly 2 billion Muslim consumers worldwide, representing over 24% of the global population, according to Malaysia’s Minister of Investment, Trade, and Industry Zafrul Abdul Aziz.
Tra fish sector aiming for production, processing greening for sustainable development

Tra fish sector aiming for production, processing greening for sustainable development

Greening production and processing to meet export requirements is both a trend and a necessity for many industries, including the tra fish sector.
Developing supporting industries for the billion-dollar export commodity groups

Developing supporting industries for the billion-dollar export commodity groups

VCN - Electronic products and components are one of export commodity groups with turnover exceeding one billion USD, but the supporting industry for this group is still modest.
Village craft products conquer the world

Village craft products conquer the world

VCN - Vietnam's handicraft products have significant potential to captivate international customers, enhancing export value and revenue.
Enterprises urged to tap potential to expand exports to EU via official channels

Enterprises urged to tap potential to expand exports to EU via official channels

The Vietnam Trade Promotion Agency under the Ministry of Industry and Trade (MoIT) on November 18 organised a seminar on promote trade in the European market, focusing on potential for expanding exports to the European market via official channels.
Read More

Your care

Latest Most read
Vietnamese enterprises facing challenges from cross-border e-commerce platforms

Vietnamese enterprises facing challenges from cross-border e-commerce platforms

VCN - E-commerce platforms have emerged as crucial distribution channels, enabling goods to reach consumers quickly and conveniently.
Vietnam, Malaysia eye new milestone in trade ties

Vietnam, Malaysia eye new milestone in trade ties

The official visit to Malaysia from November 21-23 by Party General Secretary To Lam is expected to open up new opportunities for and mark a new milestone in the economic and trade cooperation between Vietnam and Malaysia. Vietnam and Malaysia are key economic, trade, and investment partners. Their economic and trade ties have steadily grown since the two nations established diplomatic relations in 1973.
Shrimp exports surge in 10 months, generating 3.2 billion USD

Shrimp exports surge in 10 months, generating 3.2 billion USD

Vietnam’s shrimp exports in October reached US$394 million, a strong 24% increase year-on-year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Vietnam’s exports to the U.S. near US$100 billion milestone

Vietnam’s exports to the U.S. near US$100 billion milestone

By the end of October, Vietnam's exports to the United States approached US$100 billion, reaffirming its position as Vietnam's largest export market.
From the “abnormal” coffee price, worries about the new crop

From the “abnormal” coffee price, worries about the new crop

The Vietnamese coffee industry enters the new crop with the question of what is a reasonable price to ensure benefits for coffee growers while still retaining international consumers.
Mobile Version