Here's What You Need To Know About The Blockchain Jobs

Here’s What You need to Know about the Blockchain Jobs

by Erna Clayton — 3 years ago in Blockchain Technology 4 min. read

Since Bitcoin became the talk of the town, its foundational technology ‘Blockchain’ has progressed with its status in the technology world. It is not just limited to the applications of cryptocurrency and has shown a massive potential to become a pathbreaking integration for other industries.

With experiments and innovations around blockchain implementation running on extra fuel, the need for blockchain engineers and developers has grown manifolds.

But here things become even more interesting, as the blockchain job market is still very young and is subject to constant evolution. Although Blockchain has tech at its core, the professionals require cross-industrial skills to grow in their jobs.

With a wide array of implementations, it is a daunting task to know everything related to a career in blockchain. But to make your research a lot easier below is an extensive list that will tell you everything that you need to know about blockchain jobs.

Who is hiring?

The first thought related to blockchain job opportunities is about technology firms and consultancies. But, it might come as a surprise that there are more options when it comes to blockchain developer jobs

  • Startups – It is one of the biggest job creators in the blockchain ecosystem. Startups have been the breeding ground for new ideas and implementation in this sector and also attract top talent. Cryptocurrencies and ecosystems have been a significant portion of this market with around 1500 crypto startups in the US alone. These startups also have a diversified nature of business as wallet providers, educational tool providers, websites, etc.

In recent times, these startups have also begun to pay good salaries to employees and developers as they have been able to raise colossal amounts of capital through Initial Coin Offerings.

  • Technology Giants – Blockchain is a disruption to not just select industries but a complete ideology of centralized authority and intermediaries. For the technology firms of today, it is necessary to keep up with revolutionary developments to stay relevant.

Hiring talented blockchain professionals who are adept with the latest tech, trends, and development is a crucial part of tech firms in the current phase. Building decentralized systems, secure networks, databases, and catching up with changing dynamics is the central factor for rising job opportunities in this field.

Major companies like Facebook, Google, Apple, IBM, etc are investing heavily in the blockchain workforce.

  • Government Sectors – The fact that blockchain makes the process secure and cost-effective makes it a value proposition for the government sector. Countries like Britain, Estonia, Venezuela, India, etc have been deploying blockchain for numerous official purposes to make their agencies fairer and efficient.

The applications are made in government-based digital currencies, bank operations, security services, state loan management, etc.

As more and more countries adopt blockchain in the mainstream, there will be a plethora of in-house and contract-based job opportunities.

  • Legacy Industries – Over the years and several financial meltdowns later, legacy businesses like banking, insurance, logistics, law, etc., have become smarter. Now they are more agile in terms of adopting new market trends. And with blockchain at the forefront of emerging technologies, these industries are not taking any risk of leaving the train.

We all know how the insurance industry was applying Robotic Process Automation (RPA) to its various processes to make things faster. Similarly, many organizations in banking, law and supply chain are leveraging the power of blockchain to transform their operations.

Who gets hired?

blockchain industry

The blockchain industry is new, it is evolving, and has been very accommodating till now. But the newness also presents challenges to the professionals, even for people with coding and software development backgrounds. While technical expertise forms the basis of many blockchain engineering jobs, it is the designing, research, and cross-industrial problem-solving part that will be a learning curve for many techies.

Java, Python, C, C++, Solidity are some mainstream languages that are required to become a blockchain developer.

This particular sector also provides opportunities to professionals with a non-technical background. People with professional backgrounds in finance, law, accountancy, media, and marketing have also been able to make a successful switch to blockchain jobs.

In the coming times, there will be a lot of job openings for PR professionals, marketing, asset managers, and many more to fulfill the needs of the whole ecosystem.

The Market Outlook

The demand for blockchain developers is undeniably at an all-time high. Thanks to the booming crypto market and recruitment drives by legacy firms. But, the supply, of the right candidate, is short. Since 2017, the demand for blockchain professionals has grown 7 times. Most of these positions require technical expertise and there aren’t enough software developers that understand blockchain in its true sense.

This presents an amazing opportunity for new and talented entrants to bag high-paying positions. According to the gig hiring portal Upwork, in 2021 blockchain expertise is outpacing more than 5000 skills on the platform.

The Earning Potential

The salaries of blockchain developers in the US lie in the range of $100k-$250k annually. These numbers vary according to seniority level and demographics. The national average for blockchain jobs in the USA is $120k.

With such handsome paychecks, it surely is one of the most lucrative industries.
Also read: Caktus AI Review: Is It The Best AI Helper For Students? (Complete Guide)

Things to keep in mind

While the pay is good, the work is also challenging in the blockchain world. The ever-evolving landscape and high-stakes problem solving require talent and expertise. To get a blockchain job and grow in this sector,

These are some thumb rules:

  • Build a cross-industrial skill set, i.e, coding, decentralized finance, design, network security, etc.
  • Be open to learning at all stages of your career
  • Develop skills like research, communication, team-work
  • Think like an entrepreneur

Blockchain is not just a technology, it is a part of an ideology that believes in the decentralization of authority. To succeed in a blockchain job, you must truly understand the purpose of this tech.

Erna Clayton

Erna Clayton is a passionate writer who loves writing pieces on several topics related to software development and testing. In her free time, she loves reading novels, traveling and attending conferences.

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