Blockchain is a promising technology alternative for businesses around the globe. It is a promising technology that can solve complex problems. The promise of blockchain technology for businesses has also translated into a demand for blockchain professionals. You can find other data points to support the rising demand for blockchain professionals.
You might have discovered some promising career opportunities in blockchain-based on your knowledge.
One of the major concerns is how blockchain will be able to compete in the 21st century. This article will explain why blockchain is so popular in 2021.
Below are some statistics that show blockchain’s dominance in various industries. You can also identify specific themes that are driving the demand for blockchain technology as one of the most sought-after tech skills. Learn blockchain and more by taking a fintech bootcamp online or in person. You can also get reliable and accurate information about career opportunities in blockchain technology.
Also read: A Beginner’s Guide to Blockchain Development
Blockchain and the Potential For Growth
Many readers will have an understanding of blockchain technology. Since the advent of cryptocurrency, everyone has been interested in blockchain technology. Blockchain technology has made a significant leap in the past few years and is now a common term in corporate board meetings. The demand for blockchain skills does not only result from the advent of disruptive technology. Blockchain professionals are needed by enterprises to make the most of blockchain technology in order to achieve their business goals.
Research firms continue to point out the potential for a significant increase in investments in blockchain technology. The global expenditures on blockchain technology will reach almost 15.9 billion by 2023. The worldwide spending on blockchain technology stood at $2.7 billion in 2019, with the promise of disruptions in finance.
The value of blockchain in the food and agricultural industry is $41.9 million. This highlights the potential of Blockchain technology beyond the financial sector. The 2020 Global Blockchain Survey by Deloitte shows that 39% of senior executives have implemented blockchain production.
When companies with more than $100m in annual revenue are considered, the percentage of blockchain adoption rises to 41%. The potential growth of the blockchain industry is a major reason for the increased demand for skills in the blockchain.
The Increasing Demand for Blockchain Skills
What does blockchain mean for companies that want to increase their demand? Blockchain will be the most sought-after tech skill in 2021 with a growing focus on digital transformation. Businesses had to rebuild their supply chains and alter existing operations in the wake of the recent pandemic. Businesses want to be able to reach customers wherever they are, and this is why they have created blockchain. Blockchain can be used to provide these benefits and prove its usefulness in 2021.
- Security and blockchain go hand-in-hand. Blockchain allows information to be stored on a number of computers rather than one server. The hacking of transaction data is eliminated by decentralized storage and the lack of a single owner.
- In 2021, the demand for blockchain skills is expected to rise due to the transparency provided by blockchain technology. It is virtually impossible to modify any record in the blockchain without being aware of the other network participants. A small change to any record can have a direct impact on the whole chain. This ensures transparency for all blockchain records.
- The speed of transactions on the blockchain is the next aspect that can help answer the question “is blockchain a skill?” Blockchain eliminates the need for intermediaries and speeds up settlements, clearings, negotiations, and settlements. The digital ledger contains all records, eliminating any possibility of interruptions.
- Blockchain allows permissioned access for all network participants to the immutable data stored in the blockchain. This means that transactions can be reduced by nearly half the cost without any middlemen.
- The most important aspect of blockchain is the increased demand for skills. Blockchain technology has an audit trail that reveals the origin and milestones of an asset. The audit trail identifies all users who participated in the modification of an asset on the blockchain and also the timestamp.
It is clear that many businesses can benefit from the above-mentioned advantages to achieve long-term cost efficiency and performance improvement. The benefits of blockchain technology are what make it attractive to organizations, which in turn leads to a demand for skilled Blockchain professionals.
What Does the Blockchain Job Market Look Like Now?
Let’s now take a look at where the blockchain industry is in terms of job opportunities. This will help us to make blockchain a more desirable skill in 2021. According to a LinkedIn report, blockchain is one of the most sought-after tech skills in 2021. This report is a departure from the LinkedIn 2019 report that didn’t even mention blockchain technology.
It’s almost as if blockchain technology has risen to the top of tech skills in a matter of minutes. This is not true as enterprise blockchain professionals have begun to shift their focus away from proving compliance and usability of blockchain technology to the creation of innovative blockchain-based solutions for practical applications.
The application of blockchain in governance is another important theme that has influenced the increase in demand for blockchain skills. Blockchain has been approved by countries such as China, Switzerland, and the United States. However, many countries are slowly catching up to the digital transformation wave and see blockchain as a promising platform for developing governance solutions. One example of blockchain-based national identification registration systems is one way to use blockchain to support governance.
Also, it is important to consider the rising possibilities for blockchain integration with other emerging technologies. The IoT network is growing, as is the amount of data it generates. Concerns about the security and storage of IoT data are becoming more prominent as the volume of IoT data grows. Blockchain can provide a promising boost in security, transparency, speed, and efficiency for IoT solutions development. You can find promising career opportunities with blockchain expertise.
Career Roles in Blockchain
There are many career opportunities in blockchain that can be found right now, which is a great indicator of the growing demand for these skills. Blockchain is now a well-known technology. Many of the potential career opportunities in blockchain remain unexplored. The number of job opportunities in the blockchain is increasing as it becomes a recognized technology skill.
For a career in Blockchain, aspiring professionals will need to be open to new ideas and challenge existing conventions. You will need to be open to new ideas and experiment with blockchain technology. You can reap the career benefits offered by these blockchain-based positions if you are willing to make the effort to improve your top Blockchain skills.
A blockchain developer is one of the most sought-after roles in the blockchain. The role of blockchain developer is the most highly paid and involves designing and developing apps and solutions based on blockchain technology. This career path requires excellent analytics and server-end programming skills.
Blockchain Web Designer
Blockchain Quality Engineer
A blockchain quality engineer is the next key role in blockchain technology that has been in high demand. This role will primarily address the issues of planning, analyzing, and delivering blockchain projects. It is important that the new blockchain infrastructure adheres to pre-determined QA standards.
For improving load performance, blockchain quality engineers must also write scripts and implement automation. Candidates should be fluent in the basic concepts of blockchain and testing standards.
You can see the potential for investment in blockchain technology and the variety of blockchain jobs opportunities that it offers. This clearly demonstrates the fundamental reasons behind the rising demand for blockchain skills. You can build your career as a blockchain professional by choosing the job you are interested in.
Next, you need to identify the right platforms that will help you acquire the knowledge and skills you desire. Platforms that provide extensive industry knowledge and in-depth expertise on various aspects of blockchain technology can help you obtain top Blockchain skills.