Dive Brief:
- Crypto Fund Research released a list of the top 20 cities for blockchain jobs following a months-long study of the blockchain job market in more than 300 U.S. cities.
- San Francisco topped the list, followed by New York, Chicago, Los Angeles and Boston. Palo Alto, TX; Austin, TX; Menlo Park, CA; Seattle and Denver rounded out the top 10.
- To determine the final ranking, the study evaluated blockchain job listings, companies, startups, hedge funds and venture capital (VC) in each city, as well as the respective unemployment rate.
Dive Insight:
Blockchain and cryptocurrency have permeated the smart cities industry in a way that some industry leaders think will grow into an inevitable part of city governance. At the Smart City Expo World Congress last year, Bettina Warburg, co-founder and managing partner of Animal Ventures, said a decentralized economy is "inevitable," noting that governments will need to "learn how to unlearn and to get rid of some of the old assumptions we've had about our trade but also about just how we do business together."
Therefore, training in the blockchain market and development of blockchain technologies are crucial for cities to prioritize in order to stay ahead of the curve. New York, ranked second on this list, this week announced it will build a physical blockchain resource center to offer education and support of the blockchain industry, while Austin, TX, ranked seventh, is now home to the Austin Blockchain Collective, which also works to promote and educate folks about blockchain and cryptocurrency technology.
Crypto Fund Research noted San Francisco came out on top due to its blockchain companies — the city is home to crypto exchange Coinbase and payment solutions companies like Ripple and Tezos, as well as a number of crypto hedge funds and VC funds — though New York could easily surpass San Francisco in future rankings. In the meantime, other cities will need to position themselves as desirable locations for such companies in order to climb the rankings, grow their job markets and strengthen their reputations as "technology hubs."
