JPMorgan Is Leading The Charge On Wall Street In Their Search For Blockchain Recruits

As of the end of March, a Forbes publication listed recent job postings for blockchain related roles from the largest financial firms in the United States JPMorgan leading the charge by listing more open positions in blockchain related roles than any other firm on Wall Street, the question is, why?

Why Is JPMorgan Seeking More Blockchain Specialists Than Other Firms?

JP Morgan is the largest bank in the United States of America. As per results which were released by the job-search site indeed.com. JPMorgan was the only financial institution firm out the top ten financial firms who are seeking to fill positions that are blockchain, bitcoin or crypto related in throughout the past year.

Other companies who are posting more positions using similar keywords included tech firms such as Cisco and IBM as well as consultant companies such as Accenture, KPMG, Deloitte and EY.

According to Andrew Flowers, an economist at Indeed.com, job searches related to blockchain technology has dropped by 67% from the period of February 2018 and Febroury 2019.

He added:

“Job-seeker interest has collapsed because it tracks the price of bitcoin. Job seeker interest is as volatile as the price of bitcoin.”

Despite this, JPMorgan seems all the more interested in advancing its blockchain capabilities and services.

Financial Giants Are Entering The Blockchain Industry Via Security Tokens:

This is no surprise in light of the recent moves made by the firm.

Back in October, JPMorgan announced it would begin tokenising gold bars of Quorum, which is the firms own enterprised blockchain built upon the Ethereum blockchain.

Following that, earlier this year in February, JPMorgan announced the JPM coin which was created to instantly settle transactions between clients on the JPMorgan Chase payment network.

Despite that fact that many digital currencies have diminished in value, many financial enterprises are beginning to take an interest in the vast advantages of Distributed Ledger Technology. (DLT)

While not necessarily identical to a decentralized, proof-of-work blockchain which networks such as Bitcoin and Ethereum offer, many financial institutions are learning about the many benefits that DLT can add to their existing services.

DLT boasts many highly anticipated advantages to the financial securities industry, for example, fractional ownership, and interoperable financial realm, no unnecessary middleman and of course additional liquidity.