The whole elite is migrating to blockchain.

Technical personnel, investment banking elite, together with massive funds, is magnificent enter the arena.

“It is conservatively estimated that in the last six months, at least 300,000 talents flocked to the blockchain field.” One head search firm put these numbers together — and that’s according to formal recruitment agencies, except for the vast majority of entrepreneurs and other entrants.

What kind of people are moving into blockchain?

Has blockchain become a high density zone of capital and talent, ushering in a singularity big bang?

1

Millions a year is hard to hire

All of a sudden, you find your friends are flooded with blockchain messages.

On a question, I found myself all kinds of friends, have entered the blockchain circle, become practitioners.

And the 300,000 elite are beginning the most spectacular “talent migration” in history.

The year 2016 is known as the “first year of blockchain”. There were not many practitioners, the circle was small.

Over time, the lake expanded dramatically and became bustling.

Like a movable feast, no one wants to be absent.

The wave of block chain is too fierce, many people are not ready, can only rush into the field.

And the talent bubble, like the blockchain bubble, is blowing bigger and bigger.

A head technology company is preparing to build a blockchain team. Cheng Yi, the head of the company, whose annual salary is only 600,000 yuan, offered an annual salary of “1 million yuan” to the interviewer, but the interviewer was still frowning and said he wanted to reconsider.

“Three years of work, one year of blockchain experience, dare to charge a million.” ‘The industry is in a huge talent bubble,’ Mr. Cheng said.

Hu Lina, head of a hunting company, said that the annual salary of technical director, operation director and product director of blockchain has been between 400,000 and 1.5 million yuan.

“Blockchain talents generally earn 40,000 to 60,000 yuan per month, and 60,000 to 80,000 yuan per month.” A giant company architect said.

They are really at the top of the pyramid.

Blockchain technical talents have become the most sought-after resources in the market.

In the first quarter of 2018, the average recruiting salary for blockchain technology positions rose 31%, beating all other positions, according to BOSS Zhipin.

“But the pool of blockchain talent is too small to poach. People who dig a blockchain, it takes 200% effort.” Hu Lina said.

The industry is engaged in a fierce competition for people.

“Blockchain talents from BATJ, Zhongan, Xiaomi and other giants are the primary targets for mining.” Cheng yi said that these people usually have several offers in hand.

In order to poach blockchain talent from big companies, many companies offer dry stock, options, and tokens.

The whole blockchain talent market is in a highly mobile situation.

“When a company has a reputation in the industry, a lot of people come in and offer higher salaries.” With the lure of money, there is little loyalty, says Mr Cheng.

“It was a jump in three months. I started with 6,000 yuan a month, but now IT’s 25,000 yuan.” A blockchain journalist has seen his salary more than quadruple in just over a year since he started his career after graduation.

Blockchain companies also face the risk that their talents will be poached at any time.

A blockchain team established by a media company, consisting of 10 people, was all dug out in half a year.

“Just on salary? You can’t keep anyone.” Cheng said.

What does that depend on?

“We now get private equity in a lot of projects, and we give them to employees to tie them down.” Cheng said.

And the head of the exchange, fund, almost rely on the “private share” binding staff.

“Private equity can make a lot more money than the salary.” Cheng said.

Companies are pulling out all the stops to hire people. “Some companies even give headhunters tokens. The latter gets 50,000 tokens and may sell for 100,000 in the secondary market.” Bubi blockchain CTO Wang Jing said.

Upsurge of the occasion, there is no lack of fish mixed beads phenomenon.

The vast majority of practitioners are unqualified in cheng Yi’s eyes.

“Blockchain technology itself is not so magical. Talents who know Java, Go and Python can easily transform themselves.” Headhunter Wu Dongbo said.

However, to become a blockchain elite, you need not only some knowledge of computers and programming languages, but also a deep understanding of economics and game theory.

In fact, the core of blockchain is technology, but its soul is consensus mechanism.

The consensus mechanism is the core of whether blockchain can be implemented and activate the potential of all people.

For example, bitcoin’s consensus mechanism PoW takes the “infinite pursuit of interests” in human nature as the driving force to drive people.

Miners keep digging, burning electricity and consuming graphics cards, not for the belief in Bitcoin, but for “the reward of the coin.”

Zhang Shousheng, a partner at Danhua Capital, said bitcoin uses the evil of human nature as fuel.

A good consensus mechanism is a perfect combination of technology, economics and game theory.

“In my opinion, good blockchain talents should be skilled in both economics and technology.” Baidu blockchain head of a blockchain said.

2

believers

Besides geeks and geeks, who are entering the blockchain space?

The elites in the financial circle are the first to sniff the benefits and value of blockchain.

“At least 20 percent of my friends have noticed blockchain and entered the industry.” Investment bank former zhi Dong said.

Interestingly, in this great migration of talent, there are two forces.

Some people, with blockchain beliefs, are liberals or even anarchists.

Among them, there are many post-90s.

Different from the hard-working and relatively calm post-80s generation, they are more self-centered and pay more attention to their career development plans, changing jobs more frequently.

“Many post-90s feel they have hit a ceiling in one industry and want to move to a more competitive one.” After observation, Wang Jing found that they were most unwilling to be a screw.

Blockchain just meets these requirements, which makes them fall in love at first sight and finally decide on all-in.

Chen Xiaokai, 26, is one of them. Studying finance in the United States, he is a typical liberal and idealist. Returning to China after graduate school, he entered a securities company to do equity investment.

It was a glamorous job, but he didn’t like it.

The cumbersome, slow-moving centralised financial system is old and in need of reform.

In early 2018, Chen gave up his lucrative bonus and left the finance industry to work for a digital currency exchange.

Similar to Chen, Li Pan, 23, also felt her career ceiling hit early. She worked as a general assistant in an Internet start-up company. After a year, she felt that “my job as a general assistant was over”.

Eventually, she chose to do blockchain operations.

“Blockchain is related to finance, which is particularly close to money, and the liquidity ability is much stronger than other industries.” She believes that blockchain is the best way for her future development.

In the eyes of the post-90s generation, it is an indisputable fact that “choice is greater than effort”.

Others, mostly for the huge wealth effect.

“Eighty percent of my salary goes to stir-fry. In addition to buying mainstream coins, I will also buy some private equity shares in new projects.” East said.

Even though the market has calmed down, “it’s still more lucrative than wages.”

He described himself as nothing more than a “gambler”.

Believers and gamblers alike have joined the flood of talent migration.

3

Bubbles are not necessarily a bad thing

It has become an indisputable fact that there is a bubble in the blockchain industry.

“Now in China, there are not many people who can really explain blockchain clearly. There are very few people who have studied the whole underlying technology thoroughly.” Said the giant corporate architect.

He said that in the field of blockchain, there are no big players in China.

But any wind can create a bubble, and that’s not necessarily a bad thing.

“When there is a bubble, at least all the resources are working for the industry and you have the freedom to choose.” Wang said.

Among those who break into the blockchain world, there are gamblers with fame and wealth, believers with ideals, and the third category of people?

Of course — in the blockchain world, more people are coming for both.

And that’s not necessarily a bad thing. “Speculation and enthusiasm are mixed and mutually reinforcing. It is because of the pursuit and desire for money that one’s potential can be truly aroused.” Wang said.

He says many startups will not turn away people who come to speculate in the blockchain world. Because, “people who come to speculate, also have to do things well, there is a chance of speculation.”

In part, it’s because the industry is so understaffed.

“I believe blockchain will be hot for a decade or two, and I can’t miss this wave.” For the future, Chen is extremely optimistic.

He buys coins, but does not short them, is wary of leverage and thinks he is making value investments.

His colleagues at the exchange, many of whom are not speculators, also love blockchain.

He loves his life now, “because I’m doing what I love.” Compared with traditional financial institutions, he was also touched by the egalitarian atmosphere when meeting the founders of the project.

So did Li Pan. Docking, planning, marketing, watching news and quotations… She’s up to 2:00 in the morning. At one point, she also worked on a blockchain we-media.

“In this community, a lot of people are single. I feel like I am living every day without dating.”

“I really feel like I’m on the cusp of my time.” She said.

She sums up the industry in three words: crazy, hungry and worth waiting for.

Both she and Chen are convinced that blockchain can change the world.

A huge blockchain feast is beginning. Various people and so on have entered the table. It’s just the beginning, and it’s hard to predict its ultimate scale. Perhaps, it is this unknown that gives participants endless imagination and the courage to explore.

(Cheng Yi, Chen Xiaokai and Li Pan are not their real names, as requested by respondents)

Source: a book on blockchain

Author: Russell

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