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.
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.