Networking and employment-oriented social network LinkedIn named blockchain as the leading hard skill in 2020 according to its newest research report. Revealed on LinkedIn Learning, an educational blog, on Jan 9, blockchain reached first place in the ‘Top 10 hard Skills’ list, surpassing last year’s winner cloud computing.

In last year’s article named ‘The Skills Companies Need Most in 2019 – And How to Learn Them,’ blockchain as a skill was not even on the list. However, the disruptive technology reached demand at a point when there are not enough workers in the field. In 2020, blockchain surpassed one of the most sought for skills during the past few years, such as cloud computing, analytical reasoning, artificial intelligence, UX design, and more.

Study methodology

According to the official blog post, the research was conducted by comparing different fields and supply-to-demand ratio for each skill. Specifically, skills that were characteristic for their significant demand and lack of supply were ranked higher on the list. Additionally, the platform notes that the report only analyzed cities that had 100,000 LinkedIn members.

Source: LinkedIn Learning

Apart from hard skills, the study also analyzed which soft skills were most sought for. Creativity took the first place, followed by persuasion, collaboration, adaptability, and emotional intelligence. While hard skills are described as skills that require the ability to finish a specific task or to have specialized knowledge of a sector, soft skills describe certain psychological abilities that improve how tasks are handled.

Blockchain already represents a major industry

The new area of disruptive decentralized technology quickly caught on with the world. After the crypto bull run in 2017, several enterprises realized the massive potential of blockchain. IBM is notably a major company that focused the most on blockchain, with a number of successful pilot projects and patents.

Besides IBM, LinkedIn states that companies such as JPMorgan, Oracle, Amazon, and Microsoft participated in developing blockchain solutions for both enterprises and retail. Additionally, the blog post suggests that recruiters should take a close look at the industry

“Blockchain has emerged from the once shadowy world of cryptocurrency to become a business solution in search of problems. Which means that you don’t have to be in financial services to be seeking new hires who have background and expertise in putting blockchain to use. So, recruiters should start becoming familiar with how blockchain works, what its perceived benefits are, and who are the people best suited to help your company explore where this budding technology might have a role.”

Fintech as another huge sector in today’s job market

In the past few years, fintech became an interesting sector for people and organizations that wish to develop decentralized technologies as well. Mirroring the situation of the blockchain industry, fintech also has a problem in the case of supply and demand.

As CryptoPythia reported on Jan 13, global financial services corporation Visa is close to finishing a deal and acquiring fintech startup Plaid for $5.3 billion. 25% of Americans had their bank accounts connected to the firm through at least one app. Additionally, the company is integrated into more than 10,000 banks and connected with around 20 million consumer accounts. The acquisition might hint at a possible deeper involvement in industries such as blockchain or crypto.

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