Blockchain expertise in short supply

Emerging technologies and business processes often require specialized expertise, and staffing up to explore new frontiers can be a daunting task.

Some organizations using distributed ledger technology have already encountered a highly competitive, shallow labor pool.

“We need more people in the blockchain space. We are in need of more people who can code and understand and operate these new types of architectures and solutions.” said Eric Piscini, global financial services industry digital transformation and blockchain leader for Deloitte Consulting L.L.P. in Atlanta.

“It’s one of the biggest challenges I have,” Mr. Piscini said. “Every morning I wake up saying, ‘Where can I find the next team member — anywhere in the world — to bring onto my team?’”

Those with the necessary skills may find themselves in high demand and a strong bargaining position.

“I think there’s probably a shortage of people who understand it, but there’s a lot of money right now being poured into distributed ledger companies, and I think it’s probably a good time to be a programmer who understands distributed ledger technology,” said Chip Reed, marine risk consultant for Willis Towers Watson P.L.C. in Radnor, Pennsylvania, who works with distributed ledger applications in the marine sector.

“It’s no secret that blockchain expertise is in huge demand right now. Firms are fighting to hire the best talent, and candidates are able to be incredibly picky about the role they ultimately choose,” said Simon Clarke, global head of talent in London for R3 R3CEV L.L.C., a digital ledger technology consortium formed by financial institutions in 2015.