Is Blockchain A Good Career?

12-Sep-2022

The IT industry is experiencing a boom ushered in by digital employment. The domain of blockchain is among the rapidly growing skill sets in the job market, which has risen at a whopping rate of 2K to 6K percent. For instance, among every five blockchain developers, you will find one blockchain developer who is cut out for the companies that are seeking high-level experts.

With the emergence of the cryptocurrency market in 2017, there has been a volatile demand for blockchain engineers and developers. Hence, a career in blockchain technology is a promising and rewarding prospect that will take professionals to a great height of job and life satisfaction.

So if you are considering a career in blockchain technology, rest assured that it is hailed as parallel to the internet, given its revolutionary power. From fundamentally altering how businesses operate to improving how governments function, the potential of blockchain is genuinely transformative, and a career in blockchain technology will be as revolutionary as the field itself.

Is blockchain a good career

Although blockchain technology is frequently associated with cryptocurrencies like Bitcoin, the possibilities of blockchain extend beyond this platform. A career in Blockchain technology will open up multiple opportunities for enthusiastic and skilled candidates.

What Precisely is Blockchain?

Understanding blockchain is critical to learning about the possibilities that a career in blockchain offers. Blockchain is essentially just a chain of blocks at its most basic level. The block is digital data kept in the chain, which is a public database. Blockchain technology offers a distributed, non-repudiable ledger in electronic form. It utilizes decentralized platforms and provides significant benefits for business operations, including transparency, removing middlemen, cost savings, micropayments, cryptographic security, and long-term transactions.

Growth of Blockchain

Blockchain isn't going anywhere, even if it is still in its infancy and has a lot of technological challenges to overcome before it can scale for widespread use.

Blockchain technology is increasingly used by businesses in crucial sectors, including manufacturing, supply chains, finance, food, health, and the public sector. As per the analysis made by Gartner, blockchain is poised to optimize corporate value by $3.1 trillion by 2030.

Shortage of Blockchain Skills

Blockchain has a wide range of uses, making its skill set more in demand. As the field swiftly expands, there isn't a standard entrance point into the blockchain. On a national and international basis, the demand for Blockchain expertise has undoubtedly outpaced the talent pool. According to some reports, the need for blockchain expertise has increased by 500% in recent years.

Given its current widespread use across industries, that is not entirely unexpected. The race to locate the talent needed to stay competitive is well underway as the world begins to understand the power of blockchain technology.

Understanding Opportunities with a Career in Blockchain Technology

Many areas will need to embrace blockchain due to its widespread applicability. The main varieties of employers can be found in the following areas:

Start-ups- This has generally been the case in a wide variety of businesses, especially after the recent growth in cryptocurrency.
Legacies- These are the large organizations that distributed ledger technology may directly impact, including banks.
Tech companies- Firms like Google, Facebook, and Microsoft, could all benefit from using blockchain.
Governments - Several states can profit from blockchain's potential cost-saving features.

The majority of blockchain job candidates are computer experts, such as software developers and engineers. Beyond this, though, there are still indirect jobs in law, accounting, and marketing, among other fields.

Jobs in the above-discussed areas are available, offering numerous and diversified roles. To provide you with a clearer understanding of the job positions available in these areas, below are some of the most popular job profiles that a career in blockchain offers:

Blockchain Developer
Blockchain Solution Architect
Blockchain Project Manager
Blockchain UX Designer
Blockchain Quality Engineer
Blockchain Legal Consultant
Business
Accountants
Public Relations
Marketers
Crypto journalists
Managers
Crypto brokers
Analysts
ICO advisors

Blockchain Career Salary Pattern

Given that blockchain technology has several uses across numerous industries, its high demand is evident in its high salary. Blockchain experts are well compensated anywhere around the globe, despite the fact that various factors influence the pattern of income.

An overview of annual blockchain career salary across different cities across the globe is given below.

India - ₹460K
US -$96 K
UK - £68 K
Singapore - S $95,865
Canada - CAD $95,000
Germany: $60,000 to $150,000
Switzerland - $180,000
China - ¥45 to ¥60 K

Owing to the fact that the blockchain is here to stay, there will always be a significant need for blockchain experts. Therefore, a career in blockchain technology is a new and fascinating possibility worth investigating, regardless of whether you're a techie or not.