Building a career in blockchain technology
Merely a decade old, blockchain technology is growing exponentially with huge potential applications in several industries. Simply put, it is a technology where the same information is stored on multiple computers called nodes. This decentralization of information makes it impossible for hackers to corrupt the data due to the absence of a single centralized source. The information, stored in ‘blocks’, can be added but not edited or altered, making the records permanent, transparent and easily verifiable.
Conceptualized by a person (or group) under the pseudonym Satoshi Nakamoto, blockchain was originally devised as a technology to trade in cryptocurrency. But the decade since its invention has seen the technology find use in a growing number of industries such as finance, healthcare, supply chain management, Internet of Things (IoT), real estate, the legal sector and others. Today, it is among the most in-demand careers globally.
Types of roles
Blockchain offers several career avenues to those that are interested. Blockchain developer, blockchain project manager, blockchain designer and blockchain quality engineer are some of the key roles currently in demand. Globally, there is also a rising demand for blockchain attorneys/legal consultants stemming from the need to navigate legal issues associated with the emerging technology. IT professionals skilled in traditional domains such networking and security can also find a role in the blockchain ecosystem.
Skills for blockchain jobs
To build a career in blockchain, you’d require expertise in a traditional field coupled with a sound understanding of blockchain technology. People who want to take up blockchain development, for instance, should ideally possess a background in computer science followed by further training in blockchain. Similarly, people interested in non-technical roles like blockchain attorneys would need to combine their traditional skills in law with an understanding of the new domain. Blockchain learning involves a mix of distributive computing techniques and complex algorithm. Many online courses and certifications have now emerged in the country to cater to the growing demand for blockchain. Most of these professional learning platforms offer a beginner's course (which covers the basics and business implications of blockchain) and a more advanced module for developers offering a deep dive into blockchain. A number of blockchain training institutes also have also come up recently, in Bangalore and Hyderabad, where the cost of the courses ranges from Rs 20,000 to a Rs 1.2 lakh.
Since the technology is at a nascent stage, many companies are also willing to train candidates in the domain. But those candidates that have some degree of familiarity with blockchain technology naturally tend to be preferred.
Getting a job
There are enormous possibilities when it comes to blockchain technology, many of them still unexplored. In India, there is a growing demand for blockchain experts in cities like Bengaluru, Pune, Hyderabad, Mumbai, Chennai, Gurugram, Noida and Mohali. For a complete list of the latest blockchain jobs in India, click on this link.
The global blockchain market size is poised to grow to US$ 7.6 billion by 2022 at a compound annual growth rate (CAGR) of 79.6% according to a study by Markets And Markets. At the same time, the Indian blockchain market is expected to grow at a rate of 58% between 2018-24 driven by a boost in digital payments according to this study by 6Wresearch. With the blockchain market set to grow, there are huge opportunities for blockchain experts in India and abroad. If you’re on the lookout for a career that’s rewarding, challenging and here to stay for the next several years, blockchain could be the answer.