JP Morgan to hire crypto experts more than any other financial firms

29 Mar, 2019 | Updated: 29 Mar, 2019
by Fifi Arisandi
News
JP Morgan to hire crypto experts more than any other financial firms

Once known for their negative stance towards cryptocurrency, JP Morgan & Chase “shows” that they have really changed their mind, which can be seen through their job posting statistics.

No other companies have shown a complete turnaround with regards to their stance to cryptocurrencies like JP Morgan & Chase has.

Read more: What does JP Morgan's Jamie Dimon really think about Bitcoin?

After launching JPM Coin last month, which was and still “welcomed” with negative comments by renowned business figures, the major financial company can be found posting various job openings related to cryptocurrency/blockchain.

Read more: Andreas Antonopoulos on JPM Coin: That's not blockchain!Warren Buffett: 'Bitcoin is a delusion, JP Morgan is even making their own'

According to job platform, Indeed.com, JP Morgan is included in the top 10 companies, whose job postings use the keywords “blockchain”, “cryptocurrency” or “bitcoin last year.

It was higher than any other financial firms and only beaten by tech firms, such as IBM and Cisco, and consulting firms, like Accenture, EY, KPMG, and Deloitte.

“It’s notable that there’s a lack of financial and banking companies hiring for something that’s made to replace money," said Indeed.com economist Andrew Flowers.

He elaborated further by presenting the fact that there was a massive drop by 67% for job searches share per million on Indeed, which he said to be strongly correlated with the drop in Bitcoin as well as other cryptocurrencies’ prices.

"Job seeker interest has collapsed because it tracks the price of bitcoin. Job seeker interest is as volatile as the price of bitcoin,” added Flowers.

That said, the recent increase in crypto-related job openings has a negative correlation with the crypto prices, which is different with what happened in the past.

According to Forbes, such thing may happen due to “a recent increase in the number of large companies exploring non-cryptocurrency applications of blockchain”.

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