Crypto Industry Might Continue to Embrace Online Work Even After COVID-19

The COVID-19 global pandemic has forced teams to work from home regardless of what their roles are, while some companies simply suspended operations. The crypto industry, already popular for remote working, is embracing it, but what lies ahead of us should the pandemic come to an end?

The coronavirus has rendered many people unemployed due to layoffs by companies and organizations. In the United States, for instance, another 2.4 million Americans lodged their applications for unemployment, bringing the total number of applications to 38.6 million in just 9 weeks of the coronavirus infection according to USA Today’s report.

Cryptocurrency jobs are safe online

The cryptocurrency industry job market, though considered grey by many, has been relatively stable since the outbreak of the pandemic. Crypto and blockchain companies had to move their work online to keep work going. As described by coinidol.com, a world blockchain news outlet, the crypto industry which already employs many is once again looking attractive to many since the outbreak of the pandemic due to the work culture in the industry.

The question of whether or not this culture of remote working is sustainable is now being answered. Brian Amstrong, the co-founder and CEO of Coinbase in his recent memorandum to Coinbase employees declared that his company was continuing with the online working culture.

“After the restrictions of quarantine are over, Coinbase will embrace being “remote-first,” meaning we will offer the option to work in an office or remotely for the vast majority of roles,” reads part of the announcement.

Remote work is here to stay

A recent study by research company Gartner with 317 Chief Financial Officers and other business finance leaders revealed that 74% of companies intend to go remote after COVID-19, citing cost-effectiveness of working outside of the office.

The same research group confirmed that employees could save up to $4,000 annually if they opted to work outside of the office, hence getting away with meals, transportation, and other expenses usually incurred at offices.

The pandemic is also triggering the development of technological innovations including virtual reality means. As people work remotely, they will need virtual workplaces as well as other tools to make their work as comfortable and efficient as it was in the office. 

Surely, the set of the most required skills is changing. Now, there are numerous professions related to IT, Internet, cryptocurrency and blockchain that come on the forefront. They include programmers, analysts, developers etc. So it is now obvious that many people would have to change their qualifications and gain blockchain and cryptocurrency education in order to catch the train of this nascent industry.