Crypto Web3 movement is currently urging tech employees from giant companies, such as Facebook, Amazon, and Google, to move into the rising blockchain industry.
A technician inspects the backside of bitcoin mining at Bitfarms in Saint Hyacinthe, Quebec on March 19, 2018. - Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works based on the blockchain technology without a central bank or single administrator. (Photo by Lars Hagberg / AFP)
As of the moment, the ongoing Web3 or Web 3.0 movement wants to overhaul or change the online world by moving online services over to decentralized innovations, such as blockchain.
This idea is what digital currency companies use to tempt tech talents to leave their current positions and transition into the crypto world.
Crypto Web3 Movement Tempts Tech Staff
According to CNBC's latest report, Circle and Polygon blockchain platforms are among the crypto firms that have already hired top employees from giant technology companies.
A banner (designed by artists Stacey Coon, Anastasia Sultzer, and Nanu Berks) with the logo of bitcoin is seen during the crypto-currency conference Bitcoin 2021 Convention at the Mana Convention Center in Miami, Florida, on June 4, 2021. (Photo by Marco BELLO / AFP) / The mention[s] appearing in the metadata of this photo by Marco BELLO has been modified in AFP systems.
Also Read: Authorities Warn Influencers That Misleading Crypto Promotions May Lead to Jail Time
Polygon's new gaming studio recently hired Ryan Wyatt, the former global gaming partnership head at YouTube. Now, he is the CEO of Polygon Studio.
"When I started at YouTube Gaming almost eight years ago, I was the first person there. We didn't have a team. People were really starting to show interest in gaming video," shared Wyatt.
This just shows that the Web3 movement's decentralized technologies proposal is attracting highly-skilled tech staff in the tech industry.
Aside from the rising crypto industry, more competitive salaries also play a major role in the tech talent competition between the technology and crypto industries.
Issues of Tech Companies With Their Employees
AFR Financial Review reported that the tech businesses are now having some issues when it comes to acquisition, retention, and upskilling.
A new survey claimed that this would remain the same throughout 2022. The new study surveyed more than 400 CEOs and discovered that 69% of them are hard to retain and hire highly skilled tech employees.
If you want to see more details about this study, you can visit this link.
In other news, an Indian reserve bank official claimed that cryptocurrency is similar to the so-called Ponzi scheme. Meanwhile, crypto exchange FTX acquired its Japanese rival, Liquid.
For more news updates about cryptocurrency and the Web3 movement, always keep your tabs open here at TechTimes.
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Written by: Griffin Davis
