Linkedin Names ‘Blockchain Developer’ Top Emerging US Job of 2018

Linkedin Names ‘Blockchain Developer’ Top Emerging US Job of 2018

Linkedin has published its 2018 “Emerging Jobs Report” for the United States, in which it names “Blockchain Developer” as the most rapidly emerging employment position of the past year. According to the report, the position saw growth of 33x on Linkedin’s platform during 2018.

Also Read: Pantera Capital Braces for SEC Action Against 25 Percent of ICO Investments

‘Blockchain Developer’ Tops Linkedin Emerging Jobs Report

Linkedin Names ‘Blockchain Developer’ Top Emerging US Job of 2018The position of Blockchain Developer has topped Linkedin’s 2018 emerging jobs report, producing an astonishing 33x in growth according to the social media company.

Blockchain Developer significantly overshadowed the growth of the next most-rapidly emerging job on Linkedin, the position of “Machine Learning Engineer,” which was unable to retain its position as the fastest growing job on Linkedin, despite gaining over last year’s 9.8x with 12x growth during 2018.

Linkedin lists the top skills associated with the role of Blockchain Developer as being “Solidity,” “Blockchain,” “Ethereum,” “Cryptocurrency,” and “Node.js.” The company lists the leading employers of blockchain developers as being IBM, Consensys, and Chainyard, adding that demand for the position is high in San Francisco, New York City, and Atlanta.

Despite Bear Market, Blockchain Jobs Proliferate

A report by Glassdoor that was published in October similarly asserted that blockchain-related jobs have seen significant growth during 2018, in spite of falling cryptocurrency prices.

Linkedin Names ‘Blockchain Developer’ Top Emerging US Job of 2018Glassdoor estimated there to be 1,775 blockchain-related positions to be open in the United States during August of this year, which the company estimates to comprise a 300 percent increase over the 446 blockchain-related jobs available during August 2017.

Glassdoor also estimated the median salary for blockchain jobs to be $84,884 annually, which the company asserts is 61.8 percent higher than the median US salary of $52,461. Glassdoor found “Software Engineer” to comprise the most prevalent job pertinent to distributed ledger technology, estimating such to account for 19 percent of all open positions as of August 2018.

Many of Linkedin’s findings are consistent with those made by Glassdoor, with the company’s report also finding New York City and San Francisco to be the leading cities for open blockchain positions, equating for 24 percent and 21 percent of positions respectively. Glassdoor also asserts IBM and Consensys to list the most jobs in the distributed ledger technology sector, estimating that both companies are responsible for 12 percent of the open positions each.

Do you think that jobs within the distributed ledger technology sector will continue to proliferate rapidly in coming years? Share your thoughts in the comments section below!


Images courtesy of Shutterstock


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Will Coinbase Hit Its 2018 Target of $1.3 Billion in Revenue?

Will Coinbase Hit Its 2018 Target of $1.3 Billion in Revenue?

The current crypto bear market is dragging on, with billions in cryptocurrency wealth wiped out in 2018. The trading volume of six year-old Coinbase has hit a yearly low. Despite the crypto winter, the company is continuing to raise funds and has reached an impressive valuation of $8 billion. But is this figure justified and will Coinbase meet the $1.3 billion in revenue it’s projected for 2018?

Also read: Coinbase Opens the Door to More than 30 Cryptocurrencies

Six-Year-Old Startup in an Uncertain Industry

Will Coinbase Hit Its 2018 Target of $1.3 Billion in Revenue?In 2017, Coinbase generated $923 million in revenue and $380 million in profit. In 2018, the San Fransisco-based exchange is projected to bring in a total of $1.3 billion in revenue and $456 million in profits, according to a recent Bloomberg report, citing a document it reviewed. 

Coinbase is expected to have generated just $600 million in revenue by the end of Q3 2018. With the current bear market and upcoming Q4 financials approaching, is this target really possible?

The first question to consider is how Coinbase makes its money. Revenue is generated through fees, commissions on trades and returns from its own cryptocurrency holdings. Compared to 2017, trading in 2018 has continued to decline.

The number of Coinbase users has seen a significant drop according to recent data from DiarIn Q3 2018, Coinbase’s BTC volumes increased to $5.4 billion compared to $4.6 billion in 2017 for the same period. ETH, on the other hand, has nearly halved, falling to $2.8 billion in Q3 of this year compared to $5.2 billion in Q3 2017. In Q3 2018, LTC volumes were also down at $1 billion compared to $2.6 billion for the same period last year. In Q3 of 2018, BCH volume on Coinbase stood at $875.4 million.

Will Coinbase Hit Its 2018 Target of $1.3 Billion in Revenue?

The California-based exchange has increased staff and other outgoings by adding products for larger institutional clients.  The latest major new hires include Chris Dodds, who has joined Coinbase’s board of directors and also serves on the board of Charles Schwab, and Jonathan Kellner who joined as a managing director of its institutional group. Will these new hires pay off?

In the first eight months of 2018, Coinbase also acquired Distributed Systems, a San Francisco-based digital identity startup, for an undisclosed amount.

Further Investment Funding Rumored

There are reports that Coinbase is in talks with Tiger Global Investment with a view to obtaining an investment of up to $500 million, reported by Recode. Coinbase has also denied rumors that it will launch an IPO any time soon. This week, Coinbase announced that its customers in the U.S. can now make withdrawals via Paypal. This move will allow customers to convert their cryptocurrency holdings to cash without incurring any withdrawal fee.

Coinbase CEO Brian Armstrong frequently blogs about expansion plans and updates the cryptocurrency community on major accomplishments. He recently wrote: “Our business is cyclical, and it’s crucial that we continue pushing hard to ship new features, fix what’s not working, and make the customer experience better, whether the crypto market is on fire or in a slower part of the cycle. We did that well this quarter, and in Q4, we’ll need to double down — and stay humble, scrappy, and focused — to do even more.”

Is Coinbase being too ambitious with its 2018 revenue target? Let us know in the comments section below.


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Wendy McElroy: From Drugs to Gold and Prostitution, the Blockchain Minimizes Violence

Wendy McElroy: From Drugs to Gold and Prostitution, the Blockchain Minimizes Violence

From Drugs to Gold and Prostitution, the Blockchain Minimizes Violence

The Satoshi Revolution: A Revolution of Rising Expectations
Section 5: Saving the World Through Anarchism
Chapter 11, Part 9
From Drugs to Gold and Prostitution, the Blockchain Minimizes Violence

The most obvious objection to relying on self-defense…and restitution to prevent and rectify rights violations, is that these measures will be inadequate to deter criminals…Most people fail to appreciate the fundamental obstacles placed in the path of crime prevention by the perverse logic of public property, public law enforcement, and public imprisonment. Step one: start with public streets, sidewalks, and parks where every citizen must be permitted unless proved guilty of a crime. Step two: rely on an inherently inefficient public bureaucracy to catch, prosecute, and try those criminals against whom enough evidence of guilt exists. Step three: should they be convicted, subject criminals to the dangerous, unproductive, and sometimes uncontrollable setting of public prisons to prevent them from engaging in further misconduct. Step four: periodically release most prisoners back into the community and then return to step one and repeat the cycle.

–Randy Barnett, The Structure of Liberty: Justice and the Rule of Law

The state manufactures criminals. Then it centralizes and monopolizes a solution to the problem of crime, for which it is largely responsible. Put aside the manufacture of false criminals–that is, peaceful people who are considered to be immoral or unpatriotic or otherwise living their lives in an unacceptable way. The state factory also creates real career criminals—people who habitually initiate or threaten violence for profit. (For a discussion of fraud, please see the immediately previous articles.)

Today’s perverted system of law and justice deliberately produces two types of real criminals. The first and largest group consists of state-sanctified ones who use the veil of legitimacy to plunder the wealth and to control the actions of ordinary people. These are politicians, bureacrats, and other agents of the state, including crony corporations. They are “men of the system.” When the veil of legitimacy falls away and people refuse to obey, the state initiates or threatens open force against them. In this way, violence is legalized and institutionalized across society.  The state functions according to a parallel and different standard of morality; society is expected to accept a double standard by which state agents can commit official violence that would be unacceptable if committed by ordinary people.

The second group of criminals manufactured by the state system consists of unsanctified or street thugs. They pursue profit in the same manner as the state—the initiation or threat of force—but they do so without the veil of legitimacy or hypocrisy. The brutalization of innocent people for profit is not accompanied by lies.

The state manufactures street criminals, for at least three reasons.

As long as people believe the state is the thin line between their safety and rampaging savages, then people will accept the comparatively-civilized violence of the state. They will render obedience.

The state also profits from the confiscation of the criminals’s wealth, through mechanisms such as civil asset forfeiture, and of their labor in prison factories.

The state is able to monopolize and industrialize yet another human need—the need for safety and justice. There is the legislative industry, the regulatory bureaucracies, the police industry, the court system, and the prison industry. This industries are immensely profitable. The payoff comes not merely from the exploitation of people who are processed through the machine but also from taxpayers who pay for the facilities, wages and pensions to men of the system.

If a villainous mastermind had deliberately designed a system to create career criminals of both sorts—the sanctified and the not–it would be difficult to imagine an operation that is better suited to the task than the trusted third party institutions of the state.

The law-and-justice industries are mirror images of the financial ones against which Satoshi Nakamoto struck a telling blow. The central banking system wears a fabricated mantle of legitimacy, and it declares “I am necessary!” even as it confiscates and regulates private wealth. The banks claim to be the thin line against economic barbarism, crime, and chaos. Crypto exposes that lie. The banks are the barbarians at the gate, just the current distortion of law and justice are the real criminals at the doorstep.

It is difficult to believe that any system could be worse.


Decentralizing Law and Justice

No collection of Mafia or private bank robbers can begin to compare with all the Hiroshimas, Dresdens…and their analogues through the history of mankind. [I]t is illegitimate to compare the merits of anarchism and statism by starting with the present system as the implicit given and then critically examining only the anarchist alternative. What we must do is to begin at the zero point and then critically examine both suggested alternatives.

–Murray Rothbard, “Society Without a State”

Ground zero of any system is human nature.

Human beings are incredibly diverse and driven by free will. Every choice possible to human beings will be pursued by someone. The vast majority of those in society will deal with each other peacefully and exchanges that represent mutual advantage. But violence is an active alternative, and it will be chosen to some degree by some people, whether or not a state exists.

The goal of crypto anarchism with regard to violence is twofold: first, to minimize its occurrence; and, second, to make the cost of violence fall upon those who make that choice.

Minimizing violence is built into the blockchain. It is not merely that the blockchain epitomizes a society by contract without the corrupting influence of a trusted third party. It is also due to features such as pseudonymity and transparency.

Consider drug dealing. In an anarchist society, it would be legal to sell anything that did not violate a person’s body or property, whether or not the good is viewed as moral by others. Bitcoin.com contributor Sterlin Lujan observed, “Those are personal choices that apply to an individual’s own body and mind. Anyone who tries to control a person’s drive to have sex or use drugs is essentially a tyrant trying to subdue another person. It is not the moral high ground to harm someone if they are merely pursuing their own version of happiness. This is referred to as individual sovereignty, and it is important.”

But high-priced and portable items, like drugs or gold, would remain especially vulnerable to violent theft. One of the most demonized aspects of the crypto community offers a partial solution. Darknet markets have prevented violence. By providing a means through which people can buy drugs and other high-value items with a diminished risk of violence. For one thing, competing drug-dealers hock their wares without killing each other over whose territory a street corner represents. Under anarchism, darknet markets would be accessible through searches on popular browsers, and drugs would be treated like any other commodity. But such high-value commodities would have a filter against violence, especially commodities that might well attract “immoral” or erratic people.

The privacy of the blockchain also offers protection, while providing the value of a  transparent exchange. Who wants others to know that they own a fortune in gold and silver—a fortune for the taking? Eliminating the middle man—the trusted third party—eliminates risk factors. Precious metals can be ordered with comparative anonymity and then stored as though they did not exist. The blockchain, or technology in general, does not change what people want from the world: the pleasure of drugs or the safety of gold will still be sought. But technology reduces the risk of violence attached to satisfying such wants.

In her article “A Hundred Years of Crypto Anarchy,” Elaine Ou commented, “When Tim May wrote The Crypto Anarchist Manifesto, it wasn’t a call to action or instigation of sorts. It was simply an observation. We now have the technology to create and enforce our own rules, and this knowledge cannot be stopped. We can either rail against the inevitable, or use these tools to build the world we want.” The building block of personal safety is anonymity with transparency. “Public Key cryptography isn’t just for encrypting private messages,” Ou explained, “It also provides proof that the sender is who they say they are. When buyers and sellers conduct transactions, they sign messages with their private keys. The signatures become digital identifiers.” If this seems trivial in preventing violence, skeptics should talk to sex workers who can verify the crypto-identities of “safe” and reliable clients and then share those identities through an online database. Sex workers are among the most vulnerable people in any society to violence because of the privacy and intimacy of the exchange. An often overlooked role of a pimp is to ensure the safety of sex workers by screening customers. In short, pimps are trusted third parties to the exchange; like every trusted third party, they are often more abusive than not. Pimps also take a substantial part of all earnings. Cryptography can change that dynamic to benefit sex workers.

The foregoing examples merely hint at how crypto anarchism could revolutionize for the better some areas of human exchange that are most prone to violence. In each diverse case, the risk is minimized in the same manner: control is decentralized into the hands of the direct participants. And self-control is the antithesis of enduring violence. Self-control is almost a definition of living in peace.

The other aspect of how crypto anarchism addresses violence is to make the cost of that choice fall upon those who make it.

[To be continued next week.]

Reprints of this article should credit bitcoin.com and include a link back to the original links to all previous chapters


Wendy McElroy has agreed to ”live-publish” her new book The Satoshi Revolution exclusively with Bitcoin.com. Every Saturday you’ll find another installment in a series of posts planned to conclude after about 18 months. Altogether they’ll make up her new book ”The Satoshi Revolution”. Read it here first.

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The Daily: Japan Calls All Coins ‘Crypto Assets’, Russia Defines Cryptocurrency as Property

The Daily: Japan Calls All Coins ‘Crypto Assets’, Russia Defines Cryptocurrency as Property

The Daily: Japan Calls All Coins ‘Crypto Assets’, Russia Confirms Their Property Status

The Financial Services Agency of Japan has resolved to refer to cryptocurrencies as “crypto assets” in order to prevent confusion with legal tender. Also in The Daily, the Justice Ministry in Moscow has confirmed that it classifies digital coins as “other property.” Finally, according to a recent report, stablecoins have seen significant growth over the past few months.

Also read: Crashing Crypto Trader Shares Advice, Bitcoin Bandit Extradited

Japanese Regulator Renames Cryptocurrencies

Japan’s Financial Services Agency (FSA) has decided to call all cryptocurrencies “crypto assets,” the country’s leading daily Yomiuri Shimbun reported. The reasoning behind the decision is to help traders avoid confusing digital coins with legal tender recognized by the government in Tokyo. The regulator notes the price of many cryptos fluctuates wildly, there’s no evidence of value and it’s often unclear who is issuing them.

The Daily: Japan Calls All Coins ‘Crypto Assets’, Russia Defines Cryptocurrency as Property

FCA’s advisory panel has produced a report this week in which its members claim the term “virtual currency” could cause misunderstanding, calling for its substitution. According to the document, the regulator’s recommendation is to revise all relevant Japanese laws and regulations. The revision is expected to cover different pieces of legislation such as the Payment and Services Law, which regulates the use of cryptocurrencies in the country.

The panel has also emphasized the need to establish a mechanism aimed at protecting users in events such as a “cash outflow,” as reported by Japan Times, the newspaper’s English language edition. To achieve that, the Financial Services Agency intends to oblige Japanese companies operating with crypto assets to implement strict management systems.

Cryptocurrency Is ‘Other Property’ Russian Ministry Says

The Daily: Japan Calls All Coins ‘Crypto Assets’, Russia Defines Cryptocurrency as PropertyRussia’s Justice Ministry has once again confirmed the property status of digital currencies. According to an official statement, “cryptocurrency can be classified as an object of civil rights and be subject to obligations.” The document has been issued by the ministry in response to a request for a legal interpretation of the term and reaffirms a previously declared stance.

The query has been filed by a group of traders who have been trying to attract the attention of Russian authorities to the case of the now inactive Wex crypto exchange, successor of the infamous BTC-e. They’ve published a copy of the statement in their Wex.nz Initiative Group Telegram channel. Wex users, who have been unable to withdraw their funds from the trading platform for months, have also filed complaints with the Interior Ministry in Moscow calling for an investigation.

The Ministry of Justice further explains that cryptocurrencies cannot be accepted as “electronic money” and notes that the holders of digital coins cannot raise claims against their issuers. Nevertheless, the department states that “cryptocurrency has a property value recognized by its turnover” and falls under the “other property” category as defined by Russian law, an opinion expressed earlier this year by Russia’s justice minister Alexander Konovalov.

To this day, cryptocurrencies remain unregulated in Russia, with several draft laws filed in parliament still under consideration. In its latest version, the main bill, “On Digital Financial Assets,” does not have the term “cryptocurrency” among its legal definitions. Members of the crypto community and industry organizations have called for its inclusion but according to a recent statement by the country’s deputy prime minister Maxim Akimov, authorities do not plan to make any significant amendments to the texts.

Stablecoins See Rapid Growth, Report Claims

StablecoinsThe Daily: Japan Calls All Coins ‘Crypto Assets’, Russia Defines Cryptocurrency as Property have enjoyed growing adoption in recent months, reveals a report published by research company Diar. The transaction volumes of four new stablecoins – USDC, TUSD, GUSD and PAX – have increased by 1,032 percent, the authors claim. In terms of value, the total volume of transactions with the new stablecoins reached $2.3 billion in November, and $5 billion for a three-month period.

According to Diar, the paxos standard token (PAX), the most popular among these currencies, has attracted $93 million of volume. Its transactions volume is twice that of USD coin (USDC), a dollar-pegged crypto developed by San Francisco-headquartered digital asset exchange Coinbase in cooperation with crypto payments startup Circle. At the same time, the indicator has decreased for Trusttoken’s trueusd (TUSD) during the month of December.

The Daily: Japan Calls All Coins ‘Crypto Assets’, Russia Defines Cryptocurrency as Property

Despite the significant drop in its capitalization last month, the most recognizable stablecoin, tether (USDT), is at the time of this writing the fourth largest digital currency by market capitalization.

What are your thoughts on today’s news tidbits? Tell us in the comments section.


Images courtesy of Shutterstock, Diar.


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