Study Finds 75% of Irish People Would Not Consider A Career in Blockchain

As Ireland cements its status as a leading European technology hub, new research has found that 75% of Irish people would not consider a career in blockchain technology. Despite financial service behemoths such as Deloitte and Mastercard announcing significant blockchain-related jobs in Dublin over the past two years, a lack of knowledge and education in how blockchain works is holding Irish residents back from pursuing careers in the emerging technology.  

The research — which focused on Irish attitudes toward, and knowledge of, blockchain technology — revealed that of those that would not consider a career in the sector, more than half (53%) cited lack of understanding of what blockchain technology is, with lack of information (38%) and unsuitable educational backgrounds (10%) also seen as barriers to entry.

The study, carried out by Amárach Research for blockchain professional services firm Wachsman, surveyed 1,000 people in Ireland. It found that respondents between the ages of 25-34 were most likely to pursue a career in blockchain (the technology underpinning bitcoin and around 2,000 other cryptocurrencies), with more than a third (38%) prepared to embrace the challenge.

Wachsman CEO and Founder David Wachsman said: “The findings of this study are remarkable. Ireland boasts one of the most highly skilled and educated workforces in the world, yet most Irish people would not consider a career in blockchain technology because they don’t feel they have the ‘right’ background. While blockchain is new and novel, its concepts, use cases, and applications can be learned. The quality and quantity of research materials, educational guides, and news announcements on how blockchain is being implemented — all the way from start-ups to blue-chip enterprises — are increasing by the day.”

Other key findings from the study:

  • The industry’s gender imbalance was spotlighted, with women (20%) less likely to consider a career in blockchain compared to men (30%).  
  • Of those that would not consider a career in blockchain:
    • 61% of females indicated that they don’t know what blockchain technology is. This is in contrast to 44% of males;
    • Fear of instability is higher among men (9%) than women (4%). Among 35-44-year-olds and 45-54-year-olds, 10% of respondents cited this reason as to why they wouldn’t pursue a career in blockchain. This is in contrast to just 3% of 18-24-year-olds;
    • The demographic least likely to know what blockchain technology is and how it functions across industries are the 45-54-year-olds (62%), followed by the 55+ group (54%).
  • Dublin continues to emerge as a national and European tech hub, with those living in the capital (34%) far more likely to consider a career in blockchain technology compared to anywhere else in the country. Munster (23%), Leinster (21%),  and Connacht/Ulster (20%) followed behind.

David Wachsman said: “With demand for blockchain technology experts skyrocketing both in Ireland and abroad, it’s important for people to realize that a career in blockchain stretches far beyond a computer science, business, or finance degree. Industry newcomers in Ireland can be professionally trained and educated on the disruptive power and potential of blockchain because it is quickly becoming perhaps the most significant career opportunity of our generation.

“As one of the first movers in the industry and among the largest blockchain companies in Ireland, Wachsman is proud to share its institutional knowledge on blockchain and our onboarding program with new staff, as well as with our business partners. We look forward to future studies presenting far more favorable figures on Irish residents pursuing a career in blockchain. ”

 

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