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China’s Demand For Blockchain Too Much For Schools To Keep Up

china blockchain

China has seen a relentless expansion within its blockchain industry. The expansion is to such a degree that concerns have started to arise regarding the Chinese academic sector not being able to keep up with the massive demand. If this goes on, China might find itself lacking in comprehensive blockchain-related undergraduate educational programs.

Too Many Positions And Not Enough Candidates

Sun Daojun stands as the Communication University of China’s Digital Economy Development Research Center, based in Beijing. In a statement, Sun explained that the first batch of these so-called “Blockchain Graduates” will start their courses later this year. As a result, they will only complete their studies by the end of 2024.

Sun went into detail about the latest whitepaper press conference made by Baidu’s Superchain. Speaking to a local Chinese media outlet, Mars Finance, Sun stated that he is convinced that China’s blockchain industry is developing at a breakneck pace. However, Sun warned that the educational sector is lagging behind considerably, which will make it unable to meet the demand for new professionals.

Blockchain Officially Sanctioned Job

The Chengdu University of Information Technology had announced that it had officially launched its “Blockchain Engineering” undergrad course back in March of this year. The enrollment process for this course had already been completed, and it’s expected that students will start their course in September.

On the 6th of July, 2020, China’s Ministry of Human Resources and Social Security, the National Bureau of Statistics, as well as the State Administration of Market Supervision, adjusted the list of Officially Approved Jobs. These organizations added nine new occupations to it, including that of “Blockchain Application operators” and “Blockchain Engineering and Technical Personnel.

Massive Demand Result In Massive Salary Increase

As it stands now, media has also shown that blockchain-related salaries across China are seeing a significant rise. This is quite possibly due to the massive demand for specialists within the country’s sectors.

Furthermore, Zhaopin has revealed statistics showing that “hundreds” of companies all across China have started to hire staff for jobs related to blockchain. As it stands now, these monthly salaries start on average of $2,865 a month, which is more than double that of last year’s average of $1,230 a month.

It seems that China is making as hard a push for blockchain as it can, at this time. It’s no secret that the nation is planning to roll out its own form of digital yuan, called the DCEP. The country is the closest in the world to launching it, excluding the Petro coin, which will forever be the first, if dubious, state-owned cryptocurrency.

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      A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.