Singapore's Web3 Community Rallies for Budget Boost to Talent and Security As Singapore gears up for the 2024 Budget, the
web3 pioneers are sounding the alarm for
government support in two crucial areas.
First, there's an urgent need to
nurture a skilled talent pool well-versed in the intricacies of
blockchain technology. The demand for these experts is soaring, with Danny Lim from MarginX underlining the pressing need for experienced developers.
But it's not just about attracting new talent; it's also about supporting the
transition of web2 developers into the web3 realm. Elaine Zhu from Parity Asia emphasizes that this support is vital, especially for those facing job displacement.
Zhu further highlights
a concerning trend: while experienced developers are still going strong, the number of
newly qualified developers has dropped by a staggering 52% in 2023, according to an Electric Capital report.
In addition to talent, the industry is calling for reinforced
cyber defenses. Ong Chengyi from Chainalysis sees web3 as key to long-term growth but stresses
the importance of staying ahead of cyber threats with advanced solutions.
