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The booming blockchain sector in Vietnam has to deal with a severe shortage of specialists, local media revealed. Despite the large number of software engineers in the country, those with blockchain expertise meet less than one-fifth of today’s demand, with companies already looking for talent abroad.
Vietnam is facing a shortage of human resources that are hindering the progress of projects in its rapidly evolving blockchain industry, the English-language portal Bizhub reported. The Southeast Asian country has many skilled software developers, but few of them have the necessary qualifications for distributed ledger technology.
The shortage makes recruitment difficult and Vietnam does not have many training programs to alleviate the problem, noted Trinh Ngoc Duc, CEO of the company that developed the Fight of the Ages game. Quoted by the news agency, he elaborates:
The scarcity of experienced blockchain programmers affects the product development process and leaves many potential projects unimplemented.
The deficit of blockchain specialists has already been seen in many industries, including finance, education, healthcare, logistics and agriculture. More than 50 sectors of the Vietnamese economy have started using blockchain solutions, with around 600 projects in the Gamefi industry alone.
At the same time, existing talent can only meet between 15 and 20% of demand, according to Kevin Tung Nguyen, CEO of Jobhopin. He himself recently lost three employees who were offered a salary three times higher than the salary in his company. The market is thirsty for blockchain programmers and the competition for them is getting tougher, he commented.
Bringing talent has become a major problem for many companies in Vietnam’s fast-growing blockchain area, confirmed Nguyen Thi Ngoc Dung of the National Innovation Center. Some companies have started looking for programmers in other countries, such as the United Arab Emirates, India, South Korea and in Europe, she added.
Dung believes that one of the reasons is that Vietnamese universities do not teach blockchain. She also believes that innovation centers and successful startups should launch their own short-term courses for students and expand international collaboration.
A survey conducted by the recruitment platform Vietnamworks among more than 1,000 people working in the IT industry has revealed that blockchain engineers receive the highest salaries. But Vietnam is not the only economy struggling to find enough blockchain talent. According to the professional social media network Linkedin, job advertisements with the keyword “blockchain” in the US increased by almost 400% in 2020-21.
Do you think Vietnam will be able to compensate for the deficit in blockchain developers through training programs? Share your thoughts on the subject in the comments section below.
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