The opportunity for blockchain jobs is growing with more businesses than ever looking for the right professionals to help them grow. Are you considering entering the world of blockchain? If so, carry on reading to find out why this may be a worthwhile career move.
First of all, it is important to understand what blockchain is and what it can offer not only individuals, but society as a whole. A blockchain is a decentralised, trusted ledger of transactions built on a network of computers called nodes. This technology has the ability to revolutionise the way businesses and governments operate.
Four sectors offering blockchain jobs
Finance and banking
Blockchain technology has the power and capability to improve just about every job sector. Because of the way data is stored within a blockchain, there is no need for a central organisation to be involved. This brings large benefits to the banking and finance sectors in particular. Blockchain makes it easier to transfer data and money while reducing the risk of fraud. It also offers better advantages over conventional banking, such as quicker transactions. Traditional ways of banking are known to consume a lot of time, whereas blockchain can do what a bank would take days to do in a matter of minutes. Traditional finance businesses are under direct threat from the technology, so will be looking to offer blockchain jobs to keep up with the competition.
Blockchain can also impact the retail sector. Retail, especially online, often faces many hurdles, from abandoned shopping carts to payment processing issues. However, blockchain has proven itself to be the saving grace for the industry. It is the type of development that has the power to change the face of online shopping. Blockchain’s decentralised ledger technology will create a more seamless experience that won’t sacrifice customers’ privacy and personal details. With this zero-knowledge solution, a customer will be able to trust companies more and simply upload their details, have them encrypted, and store them in a container only visible to themselves. As we are faced with stories about the high-street dying, blockchain jobs will become crucial to survival in retail.
Blockchain technology is able to tackle the large barriers that people face in digital voting. The technology is able to keep a tally and track all votes being made, enabling voters to keep a count and record of the number of votes occurring. This enables voters to have trust, knowing the numbers aren’t being tampered with to change the outcomes. This means everyone can agree on the final outcome, as they will see the final numbers are legitimate.
Blockchain technology can also impact the healthcare sector and improve medical treatment. According to professionals, the technology will allow data to be examined for commodities to help combat diseases and improve treatment without invading any personal details. This type of development will help healthcare patients recover quicker and avoid the lengthy time spent in hospitals. Blockchain will also provide companies with full transparency and immutability throughout the supply chain. This can reduce the number of counterfeit drugs being sold to patients, meaning a patient will be able to track where certain drugs are sourced from, enabling them to recognise if they are legitimate or not.
300% growth in blockchain jobs
The blockchain job market is very favourable and is expected to expand even more as the technology becomes more widespread and mainstream. Demand for blockchain technology engineers has grown exponentially globally, according to Glassdoor. In the US alone, unfilled blockchain-related jobs have increased by 300% yearly.
A jobs website called Hired revealed that blockchain engineers make more money than software developers, averaging $135,000 (£103,700) per year. Even though this salary may be for experienced blockchain engineers, the starting salary for any blockchain-related job is still healthy.
This is due to the fact that blockchain is becoming more and more mainstream, and companies are wanting to integrate it into their already existing technologies. However, they cannot do this without the help of a blockchain professional, and this is why large companies are open to offering high-paying, rewarding jobs.
It has become more important than ever for a business to stay up to date with new trends and technologies if they don’t want to get left behind. If you are someone who wants to aid the development of new technologies in the world, then a blockchain job will be a great place for you.
There are some unique concepts surrounding blockchain technology, including mixing the technology with voting systems, trading, smart contracts, and real estate. With this in mind, having a blockchain-related job is the perfect solution if you are interested in fast-moving technology.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.