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, Mr. A wants to transfer funds to Mr. B. Mr. A will go to a recognized bank (means secured 3rd party) and deposit the amount. Now the bank (3rd party) will validate and completes the transfer process in 3 days (minimum). The bank will also charge some fee for this service. Blockchain technology replaces this 3rd party (banks) criteria, the process is instant and cheaper than the transaction rates charged by banks.
Principles behind Blockchain –
There are certain principles behind the smooth functioning of Blockchain. These are
- Open ledger – means a chain of transaction 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 ledger with them
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 industries transformation. Private and public entities are looking into enormous opportunities in Blockchain technology.
Blockchain will replace the paper – An undeniable advantage that Blockchain holds is the dematerialization of papers. It also aids in the risks of losing papers and also falsifying the documents. A database can be established, which will include a person’s skills, courses or training which have been completed.
Apart from the solutions Blockchain offers there are career roadmaps for individuals looking to pursue careers in Blockchain.
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- Blockchain Developer
- Blockchain Quality engineer
- Blockchain legal consultants
- Blockchain designer
- Blockchain Project Manager
Career Path in Blockchain
The future of Blockchain is bright and playing an important role in everyday life & businesses and constantly evolving. Careers in Blockchain is changing the professional world.
- Blockchain Quality engineer – These individuals are responsible to see all the areas of quality in the development process; it might also include automation framework testing, manual testing. This profession mainly deals in QA, planning, and delivery of complex Blockchain projects and meeting QA standards.
- Blockchain legal consultants – Individuals who have 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 those into the Blockchain technology needs these designers to create websites or portals that inform their customers about their offerings. An individual who is seeking a chance to make a career into Blockchain designer needs to have the following skills – UI designs (web and mobile), manual sketches, PS, Illustrator. These professionals must have good communication skills and ability to work with different teams to understand the requirement.
- Blockchain Project Manager – When companies are looking into the Blockchain solutions PM are the ones who are 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 stakeholders of the project. They are also tasked with proper planning and execution of the Blockchain project.
The application of Blockchain technology is so diverse and beyond imaginations. Its utility can be easily recognized in healthcare, Supply chain, banking-related services, manufacturing, real estate, 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. Talking of LinkedIn alone the job posting has 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 into Blockchain jobs.
Careers in Blockchain has already caught everyone’s attention with its huge capabilities in terms of career and advancement. Top companies like IBM, Microsoft, Intel, JP Morgan, are hiring Blockchain professionals in huge numbers.
There is a rise in cryptocurrencies are in demand. Exchanges and wallets have cropped up in huge numbers like Zebpay, Unocoin, Coinsecure, Coinmama and several others.
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 taking a leap 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, Career Path in Blockchain, Salary. you may also look at the following article to learn more –