US bank JPMorgan is recruiting blockchain engineers with Ethereum, Corda and Hyperledger development skills, according to a job posting on recruitment site Glassdoor.

The announcement is part of a series of over 64 vacancies the bank has published so far, in locations ranging from Bangalore to New York, mainly in engineering and development positions.

The bank was known to shun bitcoin and other cryptocurrencies in recent years, but in early 2021 the bank even said the price of the asset could reach $138,000 in the near future.

Similar prices have not yet been quoted for Ethereum, the world’s most widely used blockchain. But that doesn’t stop the bank from hiring talented people with experience in developing applications on the protocol.

Wanted: Ethereum Developer at JPMorgan

According to the blockchain software engineer job posting, if selected, candidates are expected to work on designing and building robust blockchain-based solutions and protocols for JPMorgan. They are also needed to develop new blockchain-based product features for users.

Part of the skills required is where it gets interesting for Ethereum fanatics. You should have hands-on experience developing on blockchain platforms such as Ethereum, Hyperledger or Corda, the announcement says, as well as a background in computer science or mathematics.

In addition, the list promotes a deep understanding of the cryptographic principles behind blockchain-based systems and encourages candidates to feel free to share their blockchain knowledge with other developers.

The post, for example, was announced days after JPMorgan participated in a recent fundraiser for Ethereum incubator ConsenSys Labs, with Mastercard and UBS among others investing a total of $65 million in the New York-based company.

However, this announcement is not the first time JPMorgan has shown interest in hiring blockchain developers. In 2019, the company put several distributed technology specialists on the JPM Coin project and even hired more employees than ConsenSys.

Crypto conversion

JPMorgan’s job offer comes amid increased interest from institutional and traditional firms in the cryptocurrency space.

As previously reported, the bank’s analysts noted in a note to clients that bitcoin could reach a price point of $140,000 in the long run, as the cryptocurrency gains popularity among investors relative to gold.

The displacement of gold as an alternative currency implies great long-term growth potential for bitcoin, write strategists at JPMorgan Chase led by Nikolaos Panigirtzoglu. Nevertheless, the volatility of bitcoin and gold is unlikely to converge quickly, and we think this is a multi-year process, the note said.

But given that the bank has suddenly turned from skeptic to follower, who is to blame when such predictions are once again thrown out the window?

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