Updated May 11, 2023
Introduction to Careers in Blockchain
Blockchain is a technology that enables the movement of digital coins/assets from one individual to another.
How Blockchain Transactions are Different?
Consider that Mr. A wants to transfer funds to Mr. B. Mr. A will deposit the amount to a recognized bank (a secured 3rd party). Now the bank (3rd party) will validate and completes the transfer process in 3 days (minimum). The bank will also charge a fee for this service. Blockchain technology replaces this 3rd party (banks) criteria; the process is instant and cheaper than the transaction rates set by banks.
Principles behind Blockchain
There are certain principles behind the smooth functioning of Blockchain.
- Open ledger – This means a chain of transactions that is open and public to everyone. Everyone in the network can see where the money is. How much money each one in the network has? Everyone in the network can decide whether the transaction is valid or not.
- Public ledger – It is publically visible to everyone within that network.
- Distributed or decentralized ledger – Everyone has a copy of the ledger.
Education Required to Build Careers in Blockchain
The field of education is of central focus. This creates opportunities in a market in terms of jobs, growth, and related industry transformation. Private and public entities are looking into enormous options in Blockchain technology.
It will replace the paper – Blockchain’s undeniable advantage is the dematerialization of papers. It also aids in the risks of losing papers and also falsifying documents. A database can be established, which will include a person’s skills, courses, or training that have been completed.
Apart from the solutions Blockchain offers, there are career roadmaps for individuals seeking careers in Blockchain.
- Blockchain Developer
- Blockchain Quality Engineer
- Blockchain Legal Consultants
- Blockchain Designer
- Blockchain Project Manager
Career Path in Blockchain
The future of Blockchain is bright and plays a vital role in everyday life & businesses and constantly evolving. Careers in this are changing the professional world.
- Blockchain Quality Engineer – These individuals are responsible for seeing all the quality areas in the development process; it might also include automation framework testing and manual testing. This profession mainly deals in QA, planning, and delivery of complex Blockchain projects and meeting QA standards.
- Blockchain Legal Consultants – Individuals with a vast understanding of the process from development to implementation. A consultant knows the structure and how to govern the process for success.
- Blockchain Designer – Organizations in Blockchain technology need these designers to create websites or portals that inform their customers about their offerings. An individual seeking a chance to make a career as a Blockchain designer needs to have the following skills – UI designs (web and mobile), manual sketches, PS, and Illustrator. These professionals must have good communication skills and the ability to work with different teams to understand the requirement.
- Blockchain Project Manager – When companies are looking into Blockchain solutions PM is the one to be contacted first, as he is responsible for the success and failure of the project. PM is required to manage and facilitate these projects. They are responsible for translating the need of the companies into technical terms that can be discussed with developers and other project stakeholders. They are also tasked with proper planning and execution of the Blockchain project.
The application of Blockchain technology is so diverse and beyond imagination. Its utility can be easily recognized in healthcare, Supply chain, banking-related services, manufacturing, real estate, and digitizing records.
The average salary for Blockchain ranges from approximately $55,173 per year to $146,028 depending upon the experience and roles. Throughout 2107 the Blockchain industries have seen enormous growth. According to Burning Glass Technologies, there has been a 115% increase in Blockchain jobs in 2017. Regarding LinkedIn alone, job postings have increased from 1037 (in 21016) to 4541 (in 2017). A top destination for Blockchain individuals in San Francisco, New York, and London. Kindly refer to the below links to add categories to Blockchain jobs.
Conclusion – Careers in Blockchain
Careers in Blockchain have already caught everyone’s attention with their considerable capabilities in terms of career and advancement. Top companies like IBM, Microsoft, Intel, and JP Morgan, are hiring Blockchain professionals in huge numbers. There is a rise in cryptocurrencies in demand. Exchanges and wallets like Zebpay, Unocoin, Coinsecure, Coinmama, and others have cropped up in huge numbers.
Early identification is a mark of genius. However, the judgment should be balanced, covering the entirely possible scenario. You need to look at the big picture and gauge the stability of the careers in Blockchain technology before leaping on impulse. So, research well and educate yourself more about the opportunities and challenges faced by this technology. This is the only way to assess its merit and take calculated risks.
This has been a guide to Careers in Blockchain. Here we have discussed the introduction, education required, principles, career path in blockchain, application areas, and salary. You may also look at the following article to learn more –