Interview with Dan Franklin: How Crypto Redefined the Labor Market

With your long term experience in recruitment, you have seen the exponential growth in crypto industry since the Bitcoin advent in 2009. How would you describe the impact of this new area of business and economy on the recruitment activities, including the labor market development and recruitment methods?

Having been in the recruitment sector for over two decades, I've had a front-row seat to the tidal wave of change brought about by the crypto industry since Bitcoin's introduction in 2009. It's redefined the labor market in unprecedented ways. Firstly, the demand for talent with specialized knowledge in blockchain, crypto trading, and associated technologies has skyrocketed.

 Traditional recruitment methods had to evolve quickly. Now, there's a stronger emphasis on understanding niche technical competencies, the value of decentralized networks, and even the philosophical underpinnings of a decentralized economy. The sheer dynamism of the crypto world means that adaptability and continuous learning have become non-negotiable traits for potential candidates.

What is the Web3 and how can it be beneficial to the crypto community?

 Web3 represents the next evolutionary phase of the internet – a decentralized one where users have control over their data, assets, and interactions. In essence, Web3 can be seen as a democratization of the online world. For the crypto community, this is a game-changer. It empowers individuals to have direct, peer-to-peer transactions without intermediaries, fostering a more transparent and equitable digital economy. Imagine a world where you truly own your online identity, assets, and even your social media posts. That's the promise of Web3. 

Crypto industry has developed in a robust part of the technology sector employing hundreds of thousands around the world. Are you able to identify how these professionals differ from people working in other technological fields (eg in terms of fluctuations, skills and capabilities etc)?

The crypto industry, while rooted in technology, is also deeply tied to principles of finance, governance, and even social revolution. Professionals in this field often exhibit a blend of tech-savviness with a deep passion for decentralization and financial sovereignty. There's a noticeable entrepreneurial spirit, a higher risk tolerance, and a propensity for continuous learning. While adaptability and innovation are common in many tech fields, the pace and magnitude of fluctuations in crypto require an additional layer of resilience and a keen understanding of both tech and financial market dynamics.

Together with the crypto industry growth, do you register development in accompanying educational initiatives (schools, courses, other learning projects) specialized on crypto & blockchain? Is there a room in the market for establishing such a specialized education?

Absolutely! With the growth of the crypto industry, there's been a parallel surge in educational initiatives. I've noticed an influx of courses, workshops, and even entire schools dedicated to crypto and blockchain. However, the pace at which the industry is evolving means there's a persistent knowledge gap. There's a vast opportunity in the market for specialized education that's not just about understanding blockchain as a technology, but also its implications for business, governance, and society at large. As the adage goes, "Knowledge is power." In the crypto world, it's also the key to innovation and progress.

Many thanks to Dan Franklin for his answers insight into the world of crypto.

Ali Daylami - Head of Data Analytics at BITmarkets