While the blockchain concept is a decade old, its full potential is not fully known. Blockchain’s connection to cryptocurrency is just one facet of what the technology could potentially offer, and companies are beginning to embrace it for its record-keeping capabilities.
Mass utilization may still be years away, but the short-term future of blockchain is also incredibly bright. If you are wondering what the blockchain landscape may look like over the next several years, here’s what you need to know.
There’s a lot of hype surrounding blockchain, especially due to its association with Bitcoin, which skyrocketed to a value of just under $20,000 per coin before experiencing a significant decline. With all the chatter, many professionals have considered making a move into the field of blockchain development. But the big question is, is blockchain actually creating jobs?
While any new technology that garners as much attention as blockchain will certain lead to the creation of some new jobs, the actual number available may surprise you. If you’re curious about positions in blockchain, here’s what you need to know.
Requests for Blockchain Skills are Rising
Since there was a bit of a fervor surrounding blockchain, it’s no surprise that the number of employers looking for people with that skill has increased throughout 2016 and 2017. The technology has a lot of potential, particularly in industries where virtual contracts would be beneficial.
It is likely that requests for blockchain skills will continue throughout 2018, but the rate at which this occurs may leave some disappointed.
But It Isn’t Rising as Fast as You’d Think
One survey showed that, in early February, there were on 133 positions listed that explicitly asked for blockchain, while a total of 36 mentioned Bitcoin specifically. Additionally, there are a suitable number of professionals apply to these roles, making it apparent that tech workers are interested in getting an opportunity to work with blockchain.
Further, throughout 2016 and 2017, the number of available positions associated with Bitcoin tended to fluctuate, and only a few dozen employers were seeking workers with the blockchain or Bitcoin skills.
What Does the Future Hold?
While it is impossible to predict with any level of precision just how many blockchain jobs will be created in the future, there is potential for a notable uptick. The technology could provide significant benefits to a range of employers in a number of industries, particularly when it comes to records management and bookkeeping or in healthcare.
However, blockchain technologies are largely in their infancy outside (and even occasionally inside) the cryptocurrency realm. As new solutions are developed that can assist businesses with their operations, demand may increase, potentially sharply.
At this point, demand for blockchain and Bitcoin skills is fairly low. But, if adoption rates increase, which they very well could, so will demand. But, that doesn’t mean you have to forgo a career in blockchain now, as there are many employers who would be happy to bring on a skilled developer, even if it is just in preparation of future projects.
If you are interested in learning more about what a career in blockchain could offer you or are seeking a new IT position, the professionals at The Armada Group can provide you with critical information and connect you with leading employers throughout the area. Contact us to speak with one of our knowledgeable team members today and see how our services can help you take the next step in your career, both inside and out of the blockchain field.
With the rise of Bitcoin, the amount of attention directed at blockchain has increased significantly. Its ability to create records, referred to as blocks, that are highly resistant to alteration after the fact and that lead to thorough transaction ledgers is especially attractive, particularly in the financial sector.
But, just because a technology is making headlines doesn’t necessarily make it a smart career move. However, blockchain has a lot to offer professionals who are interested in pursuing the technologies, making it a smart time to get a job in the field.
One of the biggest reasons that starting a career in blockchain is a wise move is that demand is incredibly high. Experienced blockchain developers are able to secure extremely large salaries as it is difficult to find professionals with the right skill set.
Much of this is due to the fact that blockchain can still be viewed as being in its infancy, so there aren’t necessarily many traditional educational options for acquiring the skills. That means it may require more effort to gain the knowledge, but the payoff is certainly there.
Aside from the direct links to Bitcoin, blockchain also has potential in other business areas. For example, work is being put into the smart contracts arena, allowing people to come to official arrangements that are less susceptible to alteration after the deal is done, including by hackers.
Blockchain technology is considered at the forefront of both security and cryptography, and could provide value with distributed systems, all of which suggest that this form of development has more to offer than may be apparent on the surface.
A benefit of a system that is still in its early phases is that those participating in blockchain today will be shaping the technology of tomorrow. There is still a lot of work to be done to explore the potential of blockchain fully, so jobs in the field may be especially primed for creative thinking and innovation. For job seekers who thrive in environments where they are regularly challenged and empowered to create new solutions, blockchain development may be an ideal opportunity for meeting those needs.
Experience Requirements Vary
One benefit of how new blockchain is, in a larger sense, you don’t necessarily need substantial experience to get started. Many companies are resorting to hiring software developers with limited knowledge about blockchain since that is what they can find in the marketplace. If you have an interest in blockchain and dedicate some time to the technology, you can get a position even without formal training or experience.
Ultimately, blockchain is an emerging technology, allowing skilled developers to reach higher salary levels based on the current demand. So, if you have an interest in the field, making the leap now could be particularly lucrative.
If you would like to learn more about blockchain development positions, the team at The Armada Group can connect you with leading employers in the area. Contact us to discuss what opportunities may be available to you.