A recently published research report revealed that the United States, the world's largest economy, is declining in its share among blockchain developers.
According to a report by market researcher Electric Capital, the US share of blockchain developers was 31% in 2018. However, as this figure has decreased by 2% in the last 5 years, the dominance of the world giant has decreased to 29%.
Although the 2% decline in five years seems insignificant, considering that the blockchain industry has grown tens of times in the process, the gravity of the situation becomes apparent.
The researchers found that the Asian region had a 13% share, while Europe had a 29% share, similar to the Americas. India, which has made great strides in the field of software in recent years, tripled its share from 2% to 6%.
1 Million Developers By 2030!
Electric Capital noted that despite the fluctuations in the cryptocurrency price, 23,343 active software engineers were working in the blockchain space as of the end of 2022. Experts predict that the number of blockchain software developers will exceed 1 million by 2030.
Although blockchain researchers acknowledge the negative aspects of the increasing regulatory pressure in the US, they noted that if the right moves are made, software developers can flock to the country.
