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Kathleen Martin

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A wave of business school students are choosing blockchain careers over traditional banking gigs, shaking up the financial jobs market as much as cryptocurrencies themselves have rattled Wall Street’s old guard.
When Columbia Business School Professor Omid Malekan taught his Intro to Blockchain and Crypto course two years ago, “Most of the students who took it were either just curious or oftentimes actually skeptical,” he said. But last year, particularly during the fall semester, Malekan noticed a significant uptick in students who were not only interested in learning about cryptocurrency, but also in pursuing careers in the industry.
Business school students Morning Brew spoke to said they also began to eye crypto as a career path from late 2020 to mid-2021, when awareness of the industry expanded in parallel to the boom in individual stock investing.
  • 16% of Americans had traded, used, or invested in cryptocurrency as of last November, according to a Pew Research study.
  • Though Pew didn’t ask the exact same question in a 2015 survey, only 1% responded that they had collected, traded, or used bitcoin.
There’s a reason Pew’s 2015 survey only asked about bitcoin. At the time, bitcoin was synonymous with crypto. Bitcoin’s market cap was over $5.5 billion (compared to nearly $900+ billion now), while the runners-up, XRP and litecoin, were each consistently worth less than $200 million. In the years since, new cryptocurrencies have flooded the market, along with other applications using blockchain technology, such as non-fungible tokens (NFTs), decentralized finance (DeFi), and decentralized autonomous organizations (DAOs).
Most of these crypto applications were invisible to the general public just one year ago, but became hot topics at networking events, on Discord servers, and in Morning Brew articles last year. In an NFT collection called CryptoPunks, one NFT sold for less than $300 (in ether) in 2020 and resold for over $1 million in 2021. Another sold that year for a record-setting $24 million.
Continue reading: https://www.morningbrew.com/daily/stories/2022/03/28/the-business-students-skipping-wall-street-for-web3
 

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