Local media reported that Vietnam’s booming blockchain industry is facing serious shortages of specialists. Even though there are many software engineers, only a quarter of those who have blockchain experience meet the demand. Many businesses also seek out talent from abroad.
Viet Nam Companies Face a fierce competition for blockchain experts
According to Bizhub, Vietnam’s shortage of resources is preventing the development of blockchain projects. Although the country is home to many skilled software developers, few have the required qualifications for distributed ledger technology.
The shortages makes recruitment difficult and Vietnam doesn’t have many training programs to alleviate the problem, noted Trinh Ngoc Duc, chief executive of the company that developed the Fight of the Ages game. The news outlet quoted him as saying:
The shortage of skilled blockchain programmers can have a negative impact on product development, leaving many possible projects unfinished.
Many industries are already suffering from a shortage of blockchain experts, such as finance, agriculture, education and logistics. With over 600 projects in the Gamefi sector alone, more than 50 industries have begun to use blockchain solutions.
Kevin Tung Nguyen CEO of Jobhopin, says that existing talent cannot meet 15 to 20% of the demand. Three of his employees were recently laid off after being offered three-times the salary than they earned at their company. He said that the market is hungry for blockchain programmers, and there is fierce competition.
Vietnamese Blockchain companies forced to seek foreign experts to fill vacant positions
Sourcing talent has become a major problem for many firms in Vietnam’s blockchain space which has been growing fast, confirmed Nguyen Thi Ngoc Dung from the National Innovation Center. A few companies started looking in Europe for programmers, as well as in India and South Korea.
Dung feels that this could be due to the fact that Vietnamese universities do not teach blockchain. Dung also believes that successful startups and innovation centers should offer short-term courses to students in order to expand international cooperation.
The survey by Vietnamworks Recruitment Platform among over 1,000 IT professionals revealed that the best-paid blockchain engineers earn the most. The problem of finding sufficient blockchain talent is not limited to Vietnam. According to the professional social media network Linkedin, job postings with the keyword ‘blockchain’ in the U.S. increased by almost 400% in 2020-21.
Is Vietnam able to make up its blockchain developer shortage through training programs, or do you doubt it? Comment below to share your opinions.
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