⚡ Report: Asia Dominates in Crypto Development Talent
posted 31 Oct 2024
In its latest research, Electric Capital assessed over 110,000 crypto developer profiles, finding Asia to be the top hub for crypto talent, overtaking North America.
Electric Capital Insights Source: X, Maria Shen
North America once held 44% of all crypto developers back in 2015, but that share has now declined to 24%.
Asia’s developer presence, however, has more than doubled to reach 32%, positioning the region as the new global leader in crypto development talent.
Crypto Developer Demographics by Continent Source: X, Maria Shen
Asia is now #1 for crypto devs. The US is losing market shareremarks Maria Shen, General Partner at Electric Capital.
The United States, however, remains the leading country with 18.8% of all crypto developers, followed by India (11.8%) and the UK (4.2%).
Distribution of Crypto Developers by Country Source: X, Maria Shen
Now, 81.2% of developers are located outside the U.S., up from 60% in 2015.
Electric Capital’s research reveals that the U.S. is driving talent abroad, largely due to an unfriendly regulatory environment.
Such a trend may weaken national security and stifle innovation, as the U.S. steadily loses its foothold in defining the future of digital assets.
Is this the result of negative regulatory environment? The US needs clear crypto policy to maintain its country leadnotes Maria Shen.
As U.S. crypto development wanes, India’s share continues to grow. Source: X, Maria Shen
In the U.S., only 36% of crypto developers are based in big tech hubs like California and New York; the rest, 64%, are spread throughout various states, showcasing the potential for job growth and innovation in traditionally rural areas.
Crypto developer distribution by U.S. state. Source: X, Maria Shen
Electric Capital urges a straightforward, bipartisan policy for crypto, stressing the broad diversity—geographic and political—within the developer base.
Crypto should not be partisan -- devs live in every state, representing all political backgroundsMaria Shen insists.
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