Crypto Talent Crunch Hinders Fortune 500 Adoption Plans: Coinbase
As major US corporations embrace blockchain, calls for clear regulations are growing louder, a Coinbase survey conducted on Fortune 500 (F500) executives revealed.
But in the “State of Crypto” report published Wednesday, Coinbase said F500 execs are more worried about securing reliable crypto talent than navigating regulations. Additionally, a lack of understanding and clear steps to implement blockchain technology hinder broader adoption.
The survey showed the US is losing ground in the crypto talent race. This is despite 56% of Fortune 500 companies working on blockchain projects, including consumer-friendly payment applications. The report revealed a concerning 14% drop in US-based crypto developers over the past five years, with only 26% remaining domestically as of May.
Even so, Coinbase highlighted a growing demand for crypto-savvy talent. Even small businesses are seeking candidates with crypto knowledge for finance, legal, and tech positions.
The exchange emphasized that clear regulations are crucial for retaining US developers and maintaining the country’s leadership in tech innovation.
America's largest companies have big plans onchain.
The number of cryptocurrency, blockchain or web3 initiatives announced by F100 companies hit a record high in Q1 2024.
Find out more in our latest State of Crypto report: https://t.co/55px3vnGQQ pic.twitter.com/Nmbl4XSWyw
— Coinbase
Read more on cryptonews.com
