After the rise of cloud, big data, and artificial intelligence, blockchain technology has seen a rapid growth in the past couple of years. In the job market too, blockchain – related jobs are amongst the top three fastest growing in the world. Industries, including the banking and financial services, are adopting the distributed ledger technology for its efficiency and transparency.
Blockchain has already caught everyone’s eye – whether it be students or industrialists, people are now aware of the technology. It has not only simplified transactions but has also opened a lot of career options for the youth. Before we see how, we need to understand what exactly is ‘blockchain’ and why is it catching everyone’s attention?
Blockchain – What is it exactly? Let’s fine out!
Blockchain can be described as an ‘open ledger’ technology which is mostly linked to manage and record transactions of crypto-currencies like bitcoin. Interestingly, the records aren’t kept at a single location but a global network of computers is used to jointly manage the database. Everyone on the network can see the transactions. It is also worth noting that the network (a chain of computers) must all approve an exchange before it can be recorded.
Blockchain as a platform is incorruptible, transparent and the one that bypasses censorship. Since each transaction is recorded over a range of computers in an encrypted manner, blockchain is designed to be secure.
Here is what it takes to build a career in Blockchain Technology
Blockchain in 2018 is being compared to what internet was in the 1990s. Hence, many job aspirants are considering the blockchain technology to be their next career move. And for someone with a coding background, it shouldn’t be tough. Blockchain technology demands coding skills (knowledge of C++, Java, Golang and Python) at the core with:
- Understanding credit services, payment processing, Ethereum’s Solidity, and financial services
- Exposure to Big Data and Data Science;
as some of the desired skill set.
“Blockchain Technology is limited to Bitcoins.” Or is it?
Many believe the statement mentioned at the top to be true. Well, this is not true. Blockchain Technology has diverse applications. Plus, it is not only limited to the tech industry as its utility can be seen in healthcare, banking and finance, real estate, manufacturing etc.
Gradually, industries have realized the potential of blockchain technology and adopted it. As a result, blockchain has taken over almost every sector we are aware of. Being a comparatively young technology, there is a demand of professionals who can work on the blockchain. Hence, for job aspirants, it can be healthy to look for a career in blockchain technology.
Blockchain technology can facilitate easier customer enrollment, fraud control and quicker claim settlement – thanks to its distributed ledger technology.
Career in Blockchain Technology
Blockchain experts are not only required by the transaction services but top companies like IBM, Microsoft, and Intel are also recruiting blockchain specialists in huge numbers. Companies like Mahindra Group and Bajaj Electricals have employed blockchain developers in many of their operations. This is because the distributed ledger environment in blockchain technology is believed to lower the operational costs.
If one wants to build a career in blockchain technology, he has several options – including one to build a blockchain start-up. Other options include –
- Working with MNCs
- Working with private firms
- Working with banks and in the financial sector
- Working in the government bodies
Working with the distributed ledger technology, one can get a quality job. Here are some of the careers that are growing right now with the adoption of the blockchain technology.
- Blockchain Instructor/ Educator – If you want to build a career in blockchain despite the fact that you don’t like coding, this job is for you. One doesn’t need to be a coder to be a blockchain instructor. He needs to learn about blockchain technology in theory, that is, its working, evolution, advantages, and disadvantages of using it in a specific firm.
- Blockchain Consultant – Similar to the work of a blockchain educator but not the same. Consultants are required by organizations to help their business choose and follow the best methods of blockchain technology. For this job, one is required to have a deep understanding of principles of blockchain technology, their systems with which they interact, and the business operations. A blockchain consultant is required to arrive to a functional and technical solution on blockchain engagements of the company.
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- Blockchain Engineer – The skill set and technical background to be a blockchain engineer is quite specific. The aspirant must be a graduate in engineering with knowledge of basic computer languages such as C and C++. He is also required to study and understand the differences between two to three crypto currencies. A blockchain engineer is responsible for the following –
- Analyze and understand the structure of cryptocurrencies.
- Analyze the blockchain algorithms and the ones similar to it.
- Participate in various projects like development of selected crypto platforms.
- Blockchain Architects – A blockchain architect is expected to contribute in the field of architecture and design of a blockchain environment. This job also require coding skills as the work involves building fast prototypes of new products and offerings by using quality code, and to help in the debugging and verification of work – of both client, and other colleagues.
Blockchain career – Conclusion
All of the above mentioned jobs are available in the marketplace. Companies are searching for blockchain specialists in various fields. It is being said that the blockchain technology holds the potential to revolutionize the future. By identifying revolutionary patterns in its formative stage and to build a career in the same can give one a huge advantage in his future.
However, one mustn’t have unrealistic expectations. To build a career in blockchain technology expecting a glorifying and permanent source of income is not wise. You must research well and educate yourself instead of following the herd mentality. Take calculated risks for your career.