Because it is still in its infancy, there are a lot of people who are not yet familiar with the concept. For those who are not in-the-know, blockchain is a series of transparent ledgers that are resistant to hacking or unauthorized alteration. Due to the growing number of networks that participated in this technology, it’s no surprise blockchain jobs are highly in demand right now.
What Is Blockchain?
Table of Contents
- What Is Blockchain?
- Should You Start Applying for Blockchain Jobs?
- What Is the “Winter” Phase?
- Will Blockchain Technology Suffer the Same Fate as Artificial Intelligence?
- What Are the Available Blockchain Jobs?
- In-Demand Blockchain Jobs
For the folks who are not familiar with the idea, blockchain is a series of records (or blocks), which are interconnected. One distinct feature of blockchain is its very strong encryption, making it resistant to hacking, intrusion, or alteration.
Due to its highly intensive security features, these blocks serve as transparent ledgers. They register transactions relating to digital currency and e-finance systems like bitcoin. For this reason, many industries have adopted the technology for their very sensitive transactions.
Despite being still in its infancy stages, businesses have become increasingly aware of the technology and its potential. For the obvious reason, blockchain technology offers a more secure method of keeping important records. This is very much acknowledged and recognized by many industries.
Blockchain technology also allows businesses to mitigate the costs of transfers and transactions. It facilitates a smoother and faster exchange because it eliminates the need for an intermediary.
Every day, the number of industries interested in incorporating blockchain technology into their business model grows. So does the demand for blockchain jobs. The rise of employment opportunities is expected to move further as the future for digital assets looks even brighter. Just take a look at bitcoin. This brings us to this next question.
Should You Start Applying for Blockchain Jobs?
Many people may have some qualms about getting blockchain jobs for a variety of reasons. First off, the concept is new. In some sense, it is new because a lot of people have yet to hear or know about the blockchain. Although the technology has been around for about 10 years now. Still, there is a general feeling that it is still an infant.
Another concern is the possibility that blockchain technology could enter into a “winter” phase; this is a term borrowed from artificial intelligence. But what is the “winter” phase, you might wonder? It is a period of decline in terms of resources, time, and effort invested in a piece of artificial intelligence. During the “winter” phase, the reputation of the technology will also suffer.
What Is the “Winter” Phase?
Think of the “winter” phase like this. Imagine planning to lose weight and getting healthy by going to the gym. During the first few days, there is the feeling of excitement. Filled with enthusiasm, you stick to a certain schedule when going to the workout place. As the weeks go by, you start to invest in better, perhaps more expensive, sportswear. Shoes, athletic shorts, rashguards, etc.
A month or so after that, you then start to feel bored with the idea of working out. You begin to visit the gym less frequently. You go thrice a week, skipping a day or two in between. Then as the days go by, you begin to do it even less frequently. Sometimes you even sit it out for a week. Then a week turns to two. Then the two weeks turn to a month. That’s the “winter” phase.
It may take days, weeks, or months to recover from the “winter” phase. But in artificial intelligence, it could reach years or even decades to see some rebound after the flunk. Recovery, on the other hand, may come in the form of an economic boom.
Will Blockchain Technology Suffer the Same Fate as Artificial Intelligence?
According to Ethan Heilman, a co-founder of Commonwealth Crypto and who is also a Ph.D. student at Boston University, blockchain technology is less likely to experience the “winter” phase as what many saw in artificial intelligence.
Heilman believes the work relating to blockchain technology (cryptography, distributed systems, etc.) will less likely see the “winter” phase. Rather, blockchain jobs are here to stay for a very long while. They will continue to be in high demand, and the professionals will still be sought-after.
“Blockchain is a great space to be in because it’s at the forefront of cryptography and security and distributed systems,” Heilman said. “The skills and expertise that people build in the industry would definitely transfer to other industries, at least from an engineering perspective.”
This means getting cryptocurrency and blockchain jobs is definitely a thing at the moment. And this will be the trend for a longer while. Why? Because blockchain technology paves the way in terms of cryptography and security protocols. The advances featured in this leading-edge technology will eventually become the standard in the other segments of the digital economy.
What Are the Available Blockchain Jobs?
Forbes senior editor Laura Shin, who covers crypto and blockchain technology, spoke about the in-demand blockchain jobs. Developers are highly sought-after in the technology, she inferred. Financial institutions, including big companies like JP Morgan Chase, NASDAQ, and Visa, could use people who can create solutions to make the backend processes more efficient. Additionally, these entities may need the developers to innovate new technologies for their own operations.
But it’s not just the financial institutions that could use people like developers. Even companies like Microsoft and IBM are having openings for blockchain jobs relating to the implementation of the technology into their business model.
Other blockchain jobs that are in-demand include business and technical consultants, project managers, software engineers, cyber security strategists, and marketers. The industries welcoming these professionals are also varied. In addition to finance, there’s retail and healthcare.
Getting back to IBM, did you know the company is looking to fill the availability of over 150 blockchain jobs? According to Juniper Research, IBM has over 400 blockchain projects in the pipeline. And despite having more than 1,600 people working in the company, IBM needs more employees.
As far as IBM is concerned, skills matter more than diplomas. When filling out these blockchain jobs, the company is more inclined to seek people who have cultivated their skills through non-conventional ways than through a bachelor’s degree. By non-conventional, it could be through coding camps, apprenticeship programs, or community colleges. For the company, what matters is the ability to perform the job.
In-Demand Blockchain Jobs
Here are some of the blockchain jobs that will be in high demand this and the upcoming years. Let’s start with the one mentioned above.
One of the most sought-after blockchain jobs today is being a developer. It’s not just one industry looking to get their skill and talent. In addition to banks and financial institutions, government agencies and tech companies are looking to have developers in their fold.
Developers are responsible for optimizing the efficiency and ensure the smooth operation of the business processes. To achieve this, developers will need to create programs, which will facilitate the implementation and attainment of business objectives.
As the technology runs on and heavily relies on platforms created through coding languages, developers are one of the most in-demand blockchain jobs.
Web design is a critical component when creating web pages. And this is one of the most sought-after Blockchain jobs. For web designers, there are a lot of career opportunities within the technology industry, and Blockchain is no stranger to that.
Blockchain-related companies will find the skill necessary as they create web pages of their own. These businesses will need web designers to craft a smooth presentation of what their company is as it relates to the customers, its potential investors, and other users. To boost the interested person’s confidence in the company, these web pages also need to tell people about the company’s mission, background, team member, etc.
All these objectives can be attained with a well-crafted website.
Every business needs a manager. Someone to handle all the affairs and oversee the operation. Which is why the project manager is one of the most in-demand Blockchain jobs today.
To optimize Blockchain solutions, businesses need people to intervene and act as intermediaries between personnel and processes. That being said, getting people to facilitate a smooth flow of effective communication is crucial for an efficient system.
This is where project managers come in. They are an integral element in the entire spectrum. Think of them as bridges that connect one component of the business to another. These managers convert whatever technical language that a developer or designer communicates and needs to convey to people who make the decisions.
Project managers are also often the first company personnel to get contacted by another business when the latter needs to reach out for something. So they occupy a position that’s beyond the usual supervisory and plan-making responsibilities. Project managers, in a way, are also representatives of the business in matters of external communication.
If you’re looking for a career opportunity in Blockchain technology, here’s the good news. In recent years, the influx of people investing in bitcoin and similar forms of cryptocurrencies continue to increase. Which is why many companies are also looking to integrate Blockchain technology into their respective business models. These industries, at the same time, seek to decentralize certain applications.
But because Blockchain technology is barely a decade old, a lot of people have never dealt with or know about it. Even if cryptocurrencies like bitcoin have started to emerge in mainstream social media, more is yet to be learned about them.
Due to the unfamiliarity of the technology, companies will need people to troubleshoot the problems that users might encounter. People who can assist users to achieve a smooth experience with the Blockchain technology, its applications, and platforms.
For this reason, community support positions are among the high-demand Blockchain jobs.
Smart Contract Engineers and Blockchain Developers
To create a world-class engineering product, industries with an integrated Blockchain technology system need smart contract engineers. These professionals help do away with the traditional middlemen by connecting with prospective buyers or sellers directly.
Because it is one of the highly sought-after Blockchain jobs, the pay is very competitive. Which is why it is among the promising career opportunities in the industry.
The primary tasks of a smart contract engineer include meeting and transacting with users (buyers and sellers). More importantly, they work closely with the company’s management in coming up with the applications and platforms.
The buzz on the advantages of the ledger technology caused a ripple effect on many industries. Global institutions began investing millions to develop their applications and platforms. With the huge amount of money invested and the scope of the ventures entered comes certain compliance obligations.
Among these duties include the record-keeping requirements. To keep up with the times and the workload involved, companies need to modernize their capabilities with respect to their books and records. This is where financial technologists come in.
Responsibilities of a financial technologist include maintaining electronic records of transactions while doing away with the technologically ancient formats. Upgrading the record-keeping system in keeping with regulation is also part of the duties.
Marketing and Advertising Personnel
Not much is known about Blockchain technology. So to attract more business, companies need marketers and advertising people. Thus, the emergence of this position as one of the most in-demand Blockchain jobs today.
Like in all industries, marketing and advertising bring in business to companies. They help contacts get a good grasp of the technology or understand the vague areas. They entertain people who are interested in doing business with the company.
For a company looking to integrate Blockchain technology into their business model, marketing and advertising personnel are critical members of the team. One can expect an increasing number of inquiries through phone or online regarding the Blockchain concept. These issues may be answered or addressed by this personnel.