Those familiar with blockchain technology understand that it has the potential to utterly rewrite the structure of modern financial services and beyond. (If you don’t have a clear picture of what blockchain technology is — check out our blog posts on the topic). As the bitcoin price fuels the interest in blockchain development, more and more businesses think about embracing the technology to their and their customers’ advantage. But finding the right development partner may be quite tricky and needs careful consideration. So, why is blockchain technology so trendy right now? And what countries should businesses consider in order to hire blockchain developers? Let’s get down to the answers.
Both governments and corporates around the globe become increasingly aware of the benefits that blockchain technology brings about — it’s transparent, secure, and unalterable. Thus, the list of countries that have already embraced blockchain technology is quite lengthy. But some of the most prominent players are:
The list can go on and on, but we’ll cap it with a few countries of no less importance in terms of blockchain adoption — Malta, which has introduced a regulatory framework for crypto, the United Arab Emirates (Dubai), that plans to store all the government-related documentation and data on the blockchain, and Singapore, that houses the third-largest ICO market and strives for achieving interconnectivity with the use of the blockchain.
However, while companies around the globe increasingly turn to the blockchain, they often struggle with the search for development partners and don’t know where to hire blockchain developers.
Switzerland and the United Arab Emirates may be good at blockchain technology adoption, but when it comes to development, the costs are usually quite high as the countries have high standards of living and, thus, high salaries. That’s why many companies and even governments decide to turn to blockchain development outsourcing and begin to look for an offshore partner.
In terms of the number of blockchain developers, most of them are located in the United States, India, the United Kingdom, Canada, and France. But as discussed earlier, companies decide to hire blockchain developers from foreign countries mainly because of the cost-effectiveness of outsourcing. With that in mind, Eastern European countries such as Ukraine, Poland, and Belarus are a good match as they provide a qualitative result for a reasonable price. India is considered to be another popular place to hire blockchain developers and fits the bill of offering cheap blockchain solutions, although there may be questions as to their quality. Some companies prefer to look for development partners in adjacent countries or in those that have a lot of cultural similarities — for smoother communication and cooperation. With respect to that, the fifth place on the list is shared between the Netherlands and Singapore. Both countries have a high saturation of blockchain developers and are close to global blockchain players — the Netherlands in Europe and Singapore in Asia. However, as those countries have quite high standards of living, it should be no surprise that the development costs will also be much higher than in Eastern Europe or India.
Why is Ukraine on the list of top countries to hire blockchain developers? Let’s get into some details. Recently we have already discussed that Ukraine is a good place to look for an offshore development partner. Not only can Ukraine boast about its well-educated youth with a high level of English language knowledge but it is also located in a very convenient time zone and thus so comfortable to work with both from the US and Europe. While being good at software development in general, many Ukrainian developers are also skillful and experienced in blockchain development. The expertise that evolved among our colleagues was caused by the significant interest in the principles of economy 3.0 (or decentralized economy). Our mentality welcomes everything that is not regulated and provides a decent level of freedom. Another interesting fact is that Ukraine still doesn’t have any solid regulations for crypto and token assets which makes the situation even more controversial. Ukrainian offshore software development companies have an opportunity to develop products with all levels of difficulty but we have only one successfully implemented blockchain project, State Land Cadastre, which is probably the most iconic scenario for using blockchain technology).
Searching for blockchain development companies in Google is not a bad choice but you should be prepared that you would be overwhelmed with all the paid ads and the vast number of suspicious options. So how to tell a good company from the mediocre one and choose a qualitative blockchain development partner?
It would be obvious to recommend us as a blockchain development company because of our expertise and proven track. 🙂 At the same time, we highly recommend you to be careful choosing your future service provider and keep in your mind the next pieces of advice.
First of all, if you have any connections in the industry, ask for some references on blockchain developers. Personal recommendations are always the best ones — but only from trusted people. Secondly, use company listings such as GoodFirms or Clutch to find companies with good ratings (they are rated independently) and verified customer reviews. Thirdly, don’t fall prey to extraordinary low prices. A good result will always require some expenditures, so make reasonable estimates and find your best partner in terms of costs — not suspiciously cheap and not insanely expensive. Moreover, remember to always be careful as to the terms and cooperation model you are offered by your potential partners. You should always pre-vet the candidates with all the necessary due diligence and make an informed decision.