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Blockchain Technology and the Next Jobs Boom — Are You Ready?

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Over the past decade, Bitcoin has been lambasted, then praised, then lambasted again by the mainstream media. However, Bitcoin proponents and naysayers agree on one thing. Blockchain technology itself is here to stay — irrespective of anyone’s opinion of cryptocurrency.

The Future of Work is Blockchain Technology

It’s not mere speculation. Blockchain technology is already redefining the future of digital technology. At present, it is redefining how we store sensitive data and manage, track changes and amend important financial records.

In Dubai, UAE government officials have already passed a mandate to store all land registry data on a proprietary blockchain. Similar moves are also afoot in Malta and Georgia. However, it’s not just land registry information that is moving to the blockchain.

Mainstream Blockchain Technology Use Cases

Thanks to blockchain industry innovators like IBM, blockchain technology is already being used across several different industries.

  • Recently, IBM partnered with Massachusetts firm Raw Seafoods, Inc. to start using blockchain tech to improve food safety.
  • An IBM and Maersk shipping and freight blockchain platform called TradeLens, is already being used to optimize international freight logistics.
  • Higher education institutions in the Republic of Georgia are already using a proprietary blockchain called Atala to verify student academic qualifications.

Blockchain technology is also making waves in the automotive industry and is considered integral to the development of next-generation digital identity systems.

Blockchain Technology and the Future of Work

The rapid adoption of blockchain technology worldwide is giving rise to a booming blockchain developer job market. However, incorporating blockchain technology into emerging Industry 4.0 technologies requires more than just blockchain development expertise.

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As well as businesses being able to hire people who can build blockchains, businesses also need to be able to hire consultants and managers. Namely, people who can oversee the development and correct implementation of new technologies.

  • Governments and businesses are increasingly looking to hire qualified blockchain technology consultants.
  • Implementations of blockchains used to manage sensitive legal, financial, and personal data, need to be guided by qualified legal personnel.
  • Project managers are often required to oversee the development and deployment of new blockchain technology systems.

High Future Earning Potential

For students considering a career in blockchain technology, one question is of critical importance. Namely, what do future rates of pay and employee benefits look like? Thankfully, a few preliminary indicators are already available. 

While still an emerging industry, a career in blockchain development, management and consulting promises to be a lucrative one.

In 2018, Glassdoor found that blockchain industry positions vacant were up 300% on figures from 2017. Starting salaries for blockchain developers and consultants were also found to be US$32,000 higher than median starting salaries across other industries. 

Are you considering a career in blockchain technology? If so, check out the prospectus for our master’s degrees including an MBA degree in Blockchain Management and an MSc in International Management majoring in Blockchain Management.

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