Career Advice
8 Reasons to Choose A Blockchain-Related Career (Yes, We Said The Word!)
Glassdoor Team
Glassdoor Team | Author & Career Expert at Glassdoor | 5 Jun 2018
Via Brian Donegan, Head of Operations Fintech & Digital Development at the Isle of Man Department for Enterprise.
By now everyone has heard of Blockchain - or at least I hope they have, given the recent publicity over Bitcoin and its astronomic price rise in 2017.
In 2016, PwC included Blockchain on a list of the ‘’Essential Eight technologies that matter’’, along with artificial intelligence, augmented reality, drones, internet of things, robots, virtual reality and 3D printing. That’s some company to keep. Since then, this technology continues to move from strength to strength, and has garnered interest from a whole host of excited industries.
For those of you that don’t know, Blockchain emerged as a new open source public technology in 2008, famously described in the White Paper authored by Satoshi Nakomoto. The paper was in response to the global financial crisis of 2007/08, where several of Nakomoto’s colleagues believed that an effective response was required to ensure that the global banking community did not repeat the credit excesses of the previous ten years.
The technology was ground-breaking, as no previous system had mastered the art of transferring value around the world seamlessly without the need for a third-party bank, government or enormous technological company. This innovation ushered in a new era full of brand new opportunities.
Now is the time to get on board the Blockchain train before it leaves the station! Here are my 8 reasons for choosing a Blockchain-related career:
Its future is bright and yours will be too!
The unprecedented rise of Bitcoin is just one example of how Blockchain can have a transformative impact on an industry, and the opportunity to influence the future direction of this technology should stir the imagination of every innovator. De-centralised ledgers for recording land ownership, or the development of a Blockchain-based cybersecurity system? It’s entirely up to you!
Opportunity to get your foot in the door of some of the biggest companies
Google, Microsoft, IBM, HP Inc., Visa, Mastercard and PayPal are just some of the organisations looking at utilising Blockchain technology, not to mention a whole host central banks and governments, all of which are eager to integrate some version of the technology. As this is a brand-new field, and there aren’t many official courses on the matter, the current demand for talent exceeds availability, and there are many opportunities available for those savvy enough to pursue this career early on. On Glassdoor alone, there are 544 blockchain-related job opportunities right now and the numbers keep growing.
Follow the Money
As reported by the Financial Times, the best blockchain engineers can command a salary above $250,000. According to Statista, the worldwide Blockchain market is expected to grow from $339.5 in 2017 to $2.3billion by 2021. If you’re an entrepreneur, as opposed to a creator, perhaps the opportunity to be part of that growth, and to possibly reap the rewards, is reason enough to re-think your career.
Expand your skill-set
It’s not often that you get the chance to be part of a world-wide technological explosion, let alone on something that has generated so much excitement in such an early stage of scientific infancy. To succeed in this industry, you’ll need to be technologically savvy, free-thinking and inventive – a combination that puts you in good-stead for anything else you might wish to pursue!
Quick career progression
As with any fast-moving sector, there’s tremendous opportunity for people to progress through positions quickly, as talent vacuums need to be filled a lot faster than normal. If you are in the industry sooner rather than later, you’re well positioned to pick up the necessary experience required to advance quickly through the ranks.
Make yourself indispensable
You’ll be hard pressed to find an industry that isn’t becoming increasingly reliant on technology, particularly with regards to virtual systems and operating platforms. With Blockchain set to play an integral part in this continually developing landscape, you may find that your role as ‘Blockchain expert’ becomes ever-more indispensable.
Be Ground-breaking
The opportunity to be at the forefront of digital innovation doesn’t come along very often, and it is often the advent of these inventions that helps to drive new creative avenues. It is exciting, and rare, to be provided with the chance to join such an expansive and revolutionary industry.
Help to change the world – in more than one way
From providing access to financial services for millions of people, to combating fake news and censorship, Blockchain’s innate capacity for change is part of what makes it so special. All around the world people are thinking of ways to use this technology for good, and you can be a part of that movement. The Bill & Melinda Gates foundation, the UN and Publiq are just a few of the examples that spring to mind, with more and more organisations vying for the ‘best use of Blockchain’ position each day!
In the Isle of Man, we have moved quickly to harness this potential, and have successfully created a supportive regulatory environment, underpinned by excellent technological infrastructure, making us one of the world’s best locations for tech businesses in the world. Check out the opportunities here.
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