Digital Cryptocurrencies, like Bitcoin, are the latest buzz in the global finance market. The backbone of this revolutionary decentralized money market is Blockchain Technology. Blockchain has applications beyond cryptocurrency. Numerous business verticals are using custom blockchain solutions like Smart Contracts, Non-fungible Tokens, Cryptocurrency Wallets, Secure Medical Records, etc., for secure transfer of information, digital assets, and money.
The blockchain revolution also creates the need for human resources to keep things functional in the blockchain world. So, why are businesses so hyped about blockchain technology? And how can you make a lucrative career in it? Let’s find out!
Blockchain and Cryptocurrencies are transforming the face of finance with various blockchain development technologies, like streamlining asset management and payment processing. Blockchain, the successor of decentralized ledger technology, is becoming successful in removing the need for intermediaries in commercial transactions of money and information.
Many businesses benefit from this new technology, including banking, insurance, tourism, retail, healthcare, and pharmaceuticals. Distributed Ledger Technology and Blockchain can replace many trusted third parties like notaries, financial land registries, etc. The best part is that the information gathered on Blockchain cannot be tampered with, making it ideal and safe for financial institutions.
Looking at the widespread application and demand of blockchain technology, it is obvious that the industry needs a lot of human resources in various job roles.
In the following sections, we are listing the top career prospects in blockchain technology that young talents can chase. We will also look at the top platforms that professionals in this field should learn.
With the demand for top-grade custom blockchain solutions rising, full-stack blockchain development experts will become an industry-wide necessity.
The top employers in this industry include Government Research Departments, Financial Services, and Software Development Companies. They need people who can develop cutting-edge bespoke blockchain apps for their clients and find new uses of blockchain technology, probably in sectors like defence and education.
There is a Quality Assurance Engineer for every software product development project. The QA engineer tests and assures that all aspects of the project are of a good standard. In the Blockchain realm, a Quality Engineer is in charge of testing frameworks.
A QA engineer should have a keen eye to see the details and detect the errors that others would miss. They need to have great analytical skills and conceptual clarity about how a solution would work in the hands of the end-user and what are the problems that a user could encounter.
Quality assurance experts need to coordinate with the development team multiple times. They need to have excellent interpersonal skills to explain their point of view to the developers. A candidate with experience in engineering and management studies could be well-suited to become a Blockchain Quality Engineer.
Enterprises working on blockchain development will need UX/UI designers for their customer-facing apps as well as their websites. A Blockchain designer needs to build a user interface that inspires trust and appeals to the average user.
The user experience and user interface designers must be detail-oriented, artistically inclined, and, most importantly, industrious. They have to spend numerous hours staring at storyboards and computer displays. Although, hard work is highly rewarding because a good design is the foundation of a great software application.
Blockchain UX and UI Designers should know user psychology, adobe photoshop, adobe illustrator, Figma for prototyping, and usability testing tools for iOS, Android, and web platforms.
Following the design and creation of a blockchain application, the solution must be properly deployed before it can be used by the end-user. The process necessitates proper integration of development, quality assurance, network administration, user experience design, IT operations and deployment.
A solutions architect is in charge of assessing the business requirements and identifying how IT can meet those needs using code, technology, or infrastructure. They are responsible for connecting various blockchain solution components.
A blockchain solution architect should have domain knowledge in blockchain app development, software engineering, system administration, and business analytics.
A Cryptocurrency Community Manager creates a link between the market and the customers. Since cryptocurrency has piqued the curiosity of big leagues, the role of a community manager has become very crucial. A community manager should have the knowledge and ability to analyze statistics and feedback.
In marketing and client contacts, the Crypto Community Manager is crucial. As network administrators, they track and show engagement numbers across all marketing channels.
Legal advice is now an important part of practically any business, and blockchain development is no different. Organizations will, inevitably, hire Legal Consultants who have the expertise in the domain of blockchain technology and cryptocurrencies.
A Blockchain Legal Consultant assists organisations in understanding the repercussions of their intended activities, as well as how to properly manage their funds. The legal advisory can also help enterprises in maintaining a strong brand identity.
The must-have skills for a cryptocurrency and blockchain legal advisor include good communication skills and detailed knowledge of international laws related to crypto, NFTs, and Smart Contracts as blockchain applications transcends borders.
Now that you know the various career prospects in blockchain, you may want to know how to get started. If you are a software engineer, legal consultant, or community manager trying to find your way into the realm of cryptocurrency, NFTs, and smart contracts, here is how you can do it:
- Start with an online Blockchain certification course related to your domain of expertise, like national and international cryptocurrency laws, blockchain engineering, etc.
- Read blockchain-related blogs and articles, as well as subscribe to their newsletters. Learn the terms to expand your vocabulary.
- Examine several YouTube videos for a better understanding, since they give both technical details and practical demonstrations.
- Participate in as many blockchain conferences and events as possible. This will assist you in learning more about the dynamics of the sector.
- Concentrate on honing and expanding your cryptography and programming abilities.
- It’s also a good idea to brush up on distributed computing and smart contracts.
- Search for employment and internships on blockchain-specific and general job portals.
Naturally, to make a career in blockchain, you must know about the top blockchain development technologies. Here is a list of the most used blockchain platforms:
- Ethereum: A decentralised open-source platform for financial apps. It’s known for running smart contracts on a custom-built blockchain.
- Hyperledger Fabric: Use modular architecture for enterprise-specific Blockchain Applications. It is designed for permissioned networks to enable membership services and consensus mechanisms.
- Stellar: Built on distributed ledger technology, it allows for cross-asset value transactions. Stellar is suitable for financial applications. To facilitate cross-border money transfers, several banks and financial institutions are integrating with the Stellar network.
- EOS: The platform’s purpose is to provide decentralised application hosting, distributed enterprise storage, and smart contract functionality. EOS outperforms Ethereum and Bitcoin in terms of scalability.
- Corda: Corda is an open-source blockchain platform created by a group of the world’s biggest financial institutions. By reducing constraints in commercial transactions, it allows institutions to deal directly using smart contracts.
- TRON: It’s a blockchain-based digital platform that specialises in hosting entertainment apps. TRON offers better throughput, higher scalability, and a more stable network structure.
There is a significant gap between what a majority of technology institutions are teaching and what the industry is demanding. The educational organizations need to adapt and introduce updated courses on frontier technologies like Blockchain, Artificial Intelligence and Machine Learning, Augmented and Virtual Reality, and the latest technology frameworks like cross-platform software development tools. This way, they would gain the capabilities to create custom blockchain solutions like Crypto Wallets
Not just engineering and tech colleges but also the undergraduate courses in finance, law, design, and management should introduce a new curriculum related to blockchain legal consultation, application design, analysts, and more.