BlockchainWork release the first Vietnam Blockchain Job Report 2024

Vietnam’s blockchain industry is in a phase of rapid development, but sustainable growth will require multi-dimensional collaboration between businesses, educational institutions, government agencies, and the community. BlockchainWork, Vietnam’s leading blockchain talent community, is proud to launch the “Vietnam Blockchain Job Report 2024”. This report provides a comprehensive and insightful overview of the blockchain job market and workforce quality in Vietnam for 2024, marking the release of the country’s first industry-specific blockchain job market report.

Vietnam’s Goal to Lead the Region in Blockchain Research, Application, and Development

Vietnam has been recognized as one of the frontrunners in the emerging wave of blockchain technology, achieving remarkable growth. According to a report by TechSci Research, the Vietnamese blockchain market is projected to grow at a double-digit rate from 2023 to 2027. Notably, among the top 200 global blockchain companies, seven were founded by Vietnamese entrepreneurs, and approximately 10 innovative startups boast market capitalizations exceeding $100 million.

Moreover, Vietnam is considered a leading market for blockchain adoption and development. It ranks 5th globally for crypto adoption and investment in 2024, following its 3rd position in 2023 and topping the rankings in 2022 (Chainalysis report). Additionally, Vietnam ranks 2nd globally, with 21.2% of its population owning cryptocurrency in 2024. Vietnamese crypto investors also achieved profits of $1.18 billion in 2023, ranking 3rd globally. This demonstrates Vietnam’s transition from a technology adopter to a pioneer on the global blockchain map.

Vietnam’s blockchain ecosystem is growing at a remarkable pace, supported by a thriving entrepreneurial community and pioneering industry leaders. The number of investors, particularly venture capitalists, is steadily increasing. Among them, over 50 representatives are from global or foreign-based funds specializing in technology and blockchain. Additionally, equity and crypto investment funds are becoming increasingly prevalent.

Exceptional Demand for Non-Tech Roles in the Blockchain Industry

According to the report, 71.8% of blockchain jobs are non-technical, compared to 28.2% technical roles. This indicates a higher demand for non-tech positions such as marketing, design, and business development. The prevalence of non-tech roles suggests that blockchain is evolving from its early stages to more mature phases, where market building and expansion are key objectives. Companies must develop recruitment and training strategies for non-tech talent to enhance competitiveness and drive market expansion.

Urgent Need for Backend and Blockchain Developers

Backend roles account for the highest proportion of blockchain jobs (22.5%), followed by Blockchain Developers (17.1%). This reflects the industry’s prioritization of hiring talent to build blockchain infrastructure and core systems, highlighting the need for sustainable and complex blockchain applications. The demand for Full-Stack Developers also shows that companies seek professionals capable of handling both frontend and backend development, while the demand for Frontend roles underscores the importance of user experience in blockchain applications.

Salary Negotiation and Attractive Compensation in the Blockchain Industry

Regarding salary ranges (excluding bonuses and non-monetary benefits), technical roles dominate the 20–30 million VND and 30–40 million VND ranges, accounting for 24.2% and 34.8% of jobs, respectively. These are common salary levels for roles like developers, blockchain engineers, and backend specialists, reflecting the competitive compensation for high-skill tech roles. Meanwhile, 22.5% of non-tech roles offer salaries in the 40–50 million VND range, compared to just 13.6% for tech roles. This is attributed to higher-paying non-tech senior roles, such as marketing or project management.

Over 60% of blockchain positions offer salaries on a “negotiated” basis, meaning pay is determined through discussions between employers and candidates. Candidates often hold the upper hand in these negotiations due to the lack of standardized salary benchmarks in this emerging field, particularly for specialized roles.

Why Salary Negotiation is Essential:

1. New Industry Without Standardized Salaries:
   The nascent nature of blockchain technology means there are no clear benchmarks for salary levels, requiring companies to be flexible in their offers.
2. High Demand for Specialized Skills:
   Rare and valuable skills, such as smart contract development, provide candidates with strong leverage during negotiations.
3. Intense Competition Among Employers:
   The rising number of blockchain businesses, both local and global, has created a highly competitive market for talent, making salary negotiation a critical strategy for recruitment.
4. Personalized Benefits:
   Candidates in blockchain also value non-salary benefits such as remote work, involvement in international projects, and token-based rewards, which are often included in salary discussions.

Diverse Work Motivations in the Blockchain Sector

Survey participants cited various motivations for working in blockchain, with key factors being the “potential of blockchain technology” and “personal growth opportunities.” These were mentioned by over half of respondents, particularly students and those with 1–5 years of experience. Passion for blockchain and its innovative potential also attracted many young professionals. Additionally, about 11% of respondents were drawn to blockchain for its high and stable income opportunities.

Other motivating factors include the appeal of new challenges, exciting projects, remote work flexibility, and dynamic work environments. This diversity in motivations highlights a balance between idealism (passion for technology and innovation) and practicality (career development and financial stability). Blockchain’s dual appeal creates significant opportunities to attract talent from other sectors and recent graduates.

>>Apply: The latest blockchain jobs

The Need for a Blockchain-Specific Talent Platform

BlockchainWork’s survey revealed that 55.9% of respondents identified fragmented job information and the lack of blockchain-specific platforms as the biggest challenges in job searching. Furthermore, 11.8% reported difficulties in tracking application processes, emphasizing the need for a dedicated blockchain talent platform.

Most professionals search for blockchain jobs through social media and specialized platforms like BlockchainWork (44.1%), while traditional job boards are less popular (23.5%). This indicates a preference for tailored and network-based job-search methods.

Challenges and Opportunities for the Future

Vietnam’s blockchain sector has vast growth potential, supported by proactive government policies, increasing venture capital funding, and strategic workforce development. However, the industry faces challenges such as talent shortages, a lack of experienced professionals, and an education gap in formal blockchain training.

Greater multi-dimensional collaboration between businesses, educational institutions, government bodies, and the community is essential to building a complete blockchain ecosystem. This ecosystem must encompass talent development, technological innovation, practical applications, and regulatory frameworks. Enhanced domestic collaboration will also position Vietnam for deeper integration into the global blockchain network, attracting investment and expanding technology service exports.

CEO Tien Le, BlockchainWork, shares:
“Vietnam’s blockchain industry stands at a critical juncture of growth and challenges, especially in building a high-quality workforce. This report is not just a research document; it’s a call to action for businesses, educational institutions, and government agencies to create a sustainable and comprehensive blockchain ecosystem. With collective efforts, I believe Vietnam will continue to assert its position on the global technology map.”

>>Join: Vietnam Blockchain Community

Download the “Vietnam Blockchain Job Report 2024”: https://forms.gle/DYoaa3HhjkEc4dkz7 

“Vietnam Blockchain Job Report 2024” published by BlockchainWork provides reference information, a comprehensive view of the blockchain industry development situation, recruitment trends, human resource needs and expectations, as well as important recommendations to promote the blockchain industry in Vietnam. This is not legal, investment, financial advice, etc. Please cite the source published by BlockchainWork when sharing.

About BlockchainWork

In the era of technology and web 3.0, blockchain has become a core technology with many outstanding applications in most fields such as finance, health, education, agriculture, entertainment, art, etc. With the desire to lead the technology trend and develop the future of web 3.0, BlockchainWork is proud to be the leading blockchain talent community in Vietnam.

Founded in 2021 by Japanese and Vietnamese entrepreneurs, BlockchainWork currently connects more than 9 educational partners and more than 200 blockchain enterprises in Vietnam, organizing many connection activities to contribute to promoting the development of the blockchain industry. BlockchainWork appears on AP News, Street Insider, Benzinga, VNExpress, Nguoi Lao Dong, VIETJO, NNA,… We connect the blockchain community to promote human resource development and blockchain applications in the web 3.0 era, unleashing the unlimited potential of Vietnam and the ASEAN region.

Connect BlockchainWork

• Website: https://blockchainwork.net/
• Feedback on the report and cooperation proposal: contact@blockchainwork.net
• Employers connect with blockchain talents at: https://blockchainwork.net/employer-signup
• Candidates grasp job opportunities at: https://blockchainwork.net/candidate-signup

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