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Crypto-convert JPMorgan is hiring developers skilled in Ethereum Crypto-convert JPMorgan is hiring developers skilled in Ethereum

Crypto-convert JPMorgan is hiring developers skilled in Ethereum

with insights from JPMorgan

The US bank has 64 open positions for individuals experienced with blockchain development.

Crypto-convert JPMorgan is hiring developers skilled in Ethereum

Cover art/illustration via CryptoSlate

US bank JPMorgan is hiring blockchain engineers skilled in Ethereum, Corda, and Hyperledger development, a job posting on recruitment site Glassdoor shows.

The listing is part of over 64 open positions advertised by the bank as of today, in locations ranging from Bangalore to New York in mainly engineering and development roles.

The bank is infamous for shunning Bitcoin and other cryptocurrencies for the past many years but turning a new leaf earlier in 2021โ€”when it even said the asset could see a price of as high as $138,000 in the near future.

It is yet to give similar price targets for Ethereum, the worldโ€™s most-used blockchain. But that isnโ€™t stopping the bank from hiring talent experienced in developing applications on the protocol.

Wanted: Ethereum devs at JPMorgan

As per the listing for the โ€˜blockchain software engineerโ€™ job, candidates are expected to work on designing and build robust blockchain-based solutions and protocols for JPMorgan if selected. They are additionally required to design new blockchain-based product features for users.

The โ€˜skills requiredโ€™ part is where things get interesting for Ethereum fanatics. โ€œHave practical experience developing on blockchain platforms such as Ethereum, Hyperledger, or Corda,โ€ the listing reads, alongside requiring applications to have a background in computer science or mathematics.

The listing further calls for a robust understanding of the cryptographic principles that power blockchain-based systems and urges applicants to โ€œenjoy sharing blockchain knowledge with other developers.โ€

As such, the job posting comes days after JPMorgan participated in a recent fundraising round for Ethereum incubator ConsenSys Labsโ€”which saw firms like Mastercard and UBS invest a total of $65 million in the New York-based firm.

The posting is, however, not the first time JPMorgan has showed its interest in hiring blockchain developers. In 2019, the firm advertised roles for several individuals skilled in distributed technologiesโ€”as part of the JPM Coin projectโ€”hiring even more than ConsenSys at one point.

Crypto convert

JPMorganโ€™s job listing comes on the back of increased interest from institutional and traditional firms in the cryptocurrency space.

As CryptoSlate previously reported, bank analysts said in a client note that Bitcoin could see the $140,000 price level in the long-term as the cryptocurrency gains favor among investors instead of gold.

โ€œA crowding out of gold as an โ€˜alternativeโ€™ currency implies big upside for bitcoin over the long term,โ€ wrote JPMorgan Chase strategists led by Nikolaos Panigirtzoglou. However, โ€œa convergence in volatilities between bitcoin and gold is unlikely to happen quickly, and is in our mind a multiyear process,โ€ the note added.

But given the bankโ€™s sudden switch from a naysayer to an admirer, whoโ€™s to blame if such predictions call for doom again?