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Published on January 9th, 2019 | by Guest

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How to start your career in blockchain technology

The pitfalls of keeping data in any field are plenty. Before computers, record keepers have to file through mountains of records and dusty cabinets just to retrieve and store documents and all kinds of information. Storing information in centralized servers and server clusters in the advent of computers alleviated the physical labor of literally carrying around and storing documents and records but it is not exactly foolproof. Hackers and viruses can corrupt mega gigabytes of sensitive information, causing disruptions in work resulting in wasted time and money. Blockchain offers to be the solution and the next phase of evolution in record-keeping and transactions. It is a revolutionary topic that has got all industry experts talking and promises to be the next big thing since the internet.

What is blockchain?

“The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.” This is the short and powerful definition of blockchain according to Don and Alex Tapscott, the authors of “Blockchain Revolution”.

Blockchain distributes data in multiple computers (also called nodes) so there is no single point of failure or weakness that can be attacked. Every new record must be validated by a number of nodes before it is confirmed. The new record is then stored in the ledger and shared across the network of computers.

The way Google Docs functions can explain the blockchain analogy according to William Mougayar, a blockchain specialist.

Traditionally, documents have to be edited and revised by a single user before another user can see it and make their own input. The other user is locked out until one user is finished with the document. Google Docs allows multiple users to access a document and the newest version of it is available to all. The google docs become a shared ledger where all users can access.

Banks can use blockchains to take their transactions to a new platform. Blockchain can remove the need for middlemen and the need for manual processing. This will speed up the transaction and cut down costs. Sending money abroad can become instantaneous.

Cryptocurrencies benefitted from blockchain since you can move money in a trustless environment without relying on traditional financial systems such as banks, brokers and payment platforms.

Additionally, smart contracts that run on blockchain technology after transaction completion can benefit many fields. Smart contracts enable autonomous organizations and companies. Crowd consensus and control can dictate the use and direction of smart contracts.

Education and Skills: Where to start from?

Blockchain is a hot industry and the supply cannot keep up with the demand. The job of developing blockchain ledgers was ranked first in the top twenty fastest growing job skills. Advertisements of blockchain jobs in LinkedIn has quadrupled since 2017. Large enterprises are jumping in the blockchain trend and as much as 23% are using a blockchain app. These companies will need to hire a project manager and a few application designers just to start. Since blockchain is relatively new, industry companies are not looking for applicants with experience. The dearth in blockchain experts has caused the median wage for this industry to rise.

Any course related to computer science and business has blockchain in the syllabus across the country. Blockchain developers will need technical skills with programs like Microsoft SQL Server, Visual Studio, Node.js, HTML, and XML among others.

Blockchain engineers will need high-level skills in Java, Hyperledger Fabric, Ripple, and bitcoin.

Anyone can learn blockchain concepts through certificate programs and online resources and consider personal loans online for education if the costs of the certificate and the course isn’t that much affordable for them . You can keep up with blockchain news and developments by visiting forums and joining discussions to learn the concepts and lingo.

Who’s Hiring Blockchain Developers?

Blockchain was originally conceived for the alternative currency: Bitcoin. Established companies are either beginning to adopt blockchain technology into their system or creating new services via the blockchain system. Companies are in need of blockchain developers to create the technology. IBM, for example, is offering a new financial platform using blockchain for customers in Australia, Spain, and Indonesia. JP Morgan and Chase is another company that seeks to use blockchain technology for global payments.

Blockchain is a system that can immediately identify any anomalies in records in the supply chain. Industries such as pharmaceuticals and food which are built on high-quality services can benefit from blockchain technology. Irregularities along the supply chain can be identified with its point of origin swiftly through a blockchain system.

Accounting needs experts on blockchain to develop error-free records and tamper-proof databases. Aside from accuracy, blockchain systems allow you to have an audit trail of all transactions.

The Blockchain system promises faster peer to peer transaction, accuracy and tamper-proof records. In a few years’ time, the blockchain system may even be used in voting. Blockchain has opened up a new and more efficient system for any field and it seeks experts, developers, and industry leaders.

What are the Leading Blockchain Platforms?

Blockchain offers a shared ledger system allowing businesses to expand by using innovative systems. Blockchain platforms have developed exponentially since its incipience, allowing users to have a revolutionary system to handle data.

  • Ethereum works in a totally trustless contract. It is an open blockchain platform with great functionality. It provides anyone with the ability to have access to decentralized information that functions through blockchain technology.
  • Hyperledger fabric is Linux-based. It has 185 plus collaborating enterprises and modular architecture. It supports the application of numerous networks admonishing Assets and Agreements of member nodes
  • IBM produced its own blockchain platform. The ledger is easy to use and has a better consensus mechanism. It has paid plans for upgraded application and works with Go and Java languages.

Blockchain’s foolproof system can enhance peer to peer transactions over the internet in areas such as banking, shopping, and freelancing. Online banks can use the blockchain system to deliver services faster such as money transfers.

Top blockchain jobs

  • You can get a blockchain job starting at an entry-level position such as an intern. Duties will include designing and developing blockchain distributed ledgers. Companies are seeking to manage distributed ledger systems to track transactions and supply chain management that can be shared internally or kept between business partners.
  • Blockchain developers need to have high-level technical skills. Developers have the best opportunity in the budding blockchain field. Their services will be needed in financial services, government, and tech fields. All these areas are seeking to serve their customers better and more efficiently.
  • Blockchain quality engineers are tasked with testing the quality of all areas of blockchain development from automation frameworks and dashboards. Engineers research and advise companies on the best blockchain tools and develop quality assurance. They define and write test automation strategies. Blockchain quality engineers may need to have an Engineering Management degree.
  • A blockchain legal or consultant attorney will advise companies on legal acquisitions contracts and partnerships. Attorney and legal counsels connect the current cryptocurrency system with the current financial structures. Legal counselors are needed to draft contracts legal agreements and negotiations in an online cryptocurrency environment.
  • Blockchain web designers will be tasked to come up with amazing User Interfaces that can intrigue the consumer. Startup companies and even established ones include the use of cryptocurrencies and they need well-designed websites to inform customers about their offerings. Blockchain web designers need to have good communications skills and be able to work with marketing teams.

Blockchain promises to revolutionize the ecosystem of the internet as well as established companies. Blockchain is a new skill and not many people understand it. It is a viable and much-needed skill that can transform how businesses function resulting in accurate, less costly, and speedier transactions.

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