With numerous scholarships being announced, paid internships advertised and the desire for a decentralized system for most FINTECH projects; I think the switch has been flipped.
But WHY ?? Why the sudden interest in Blockchain Technology? Are we been left behind?
Pictorial representation of Bitcoin: A Cryptocurrency under the blockchain technology.
Let’s take it back a bit… and let you into the room on what blockchain technology is about.
Blockchain is a decentralized system that enables transparent information and data sharing between people in such a way that there is no hacking or cheating involved. It stores this information in form of blocks, hence the reason for name “BLOCKchain” which forms an additional layer of security to the system and exposes any form of exploitation. Brief illustration now: We decided to place a bet on who gets paid 100 dollars after particular criteria of assessment have been set. This system ensures that I do not in any way cheat you of your gain should my criteria fail and yours win.
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“Blockchain is an Open source, a peer-to-peer database that gives anyone with an interest access and visibility”
Well, that’s just a brief on the matter now let’s discuss the sudden interest in this system.
Firstly recall that there is an estimated analysis that puts Tech on the top of the food chain presently, and some even predict the stance will be maintained for the next five (5) years. Blockchain which used to be a playing field for computer enthusiasts, in a short period has grown into a billion-dollar investment desired by ALL. You might want to check Investopedia to validate this information.
There is a desire to create a decentralized ledger at all levels to regulate information and guide transactions, but all effort to create this has not been very effective until Blockchain.
Here are a few benefits of blockchain and possible reasons why the interest in Blockchain Technology keeps growing:
1) Financial Safety
“Money talk is a very important topic” while people require freedom in their finances, they also desire security for their money. Right now, a good percentage of people do not trust the government in terms of financial security.
Cryptocurrency is a digital currency that makes use of Cryptography for security and protection against hack and exploitation; and functions using the blockchain system which is completely decentralized. The system is run by the people (if anyone attempts to change anything it will be noticed because of the chain) and does not require any permission to use it, No government interference, no government policy suddenly changing the order of things.
2) Traceability
With the Block and decentralization system, it is easy to easily trace the movement of information and transactions. The Supply chain process will be tracked easily and any form of exploitation exposed.
3) Faster Transaction speed and efficiency
Blockchain systems give a faster and more efficient speed during transactions. It does this by automating the rigorous process making execution more seamless and credible too.
The consciousness that the transactions are been stored in a system, decentralized like blockchain builds trust between all parties involved.
4) Trust and Accountability
It is a norm to see online stores on every corner of the internet. Despite the labelled credibility of the names of these stores, people still record scams, deceit and fraud daily. With a decentralized system, your criteria is set and appropriate returns will be made without interference.
Now that is closure a lot of persons will feast on. It is credible and builds trust.
5) Global Relevance
Let’s not forget that Blockchain and Cryptocurrency are slowly gaining global recognition with most respectable nations and personalities approving of its operations and investing in them. With interest comes value and with value comes honour and worth evaluation. The list will run widths and bounds on the level of Investors actively involved in cryptocurrency, making a lot of profit in it. At this point, it’s only a matter of time before the ground breaks and opens up fully to Blockchain and Cryptocurrency.
This is just to point out a few benefits Blockchain Technology gives. Another fascinating thing is that Blockchain Technology can be used in almost all sectors with Finance, Healthcare, Logistics and real estate sectors benefitting from it more.
What are the job opportunities within Blockchain Technology?
A system like this opens up a lot of job opportunities within its sector. So from the Blockchain developers, this system will avails opportunities for:
Blockchain Project Managers
Blockchain UX Designers
Blockchain Legal Consultants
Accountants
Public Relations
Blockchain Analysts
Operations Managers
Sales and Marketing personnel
Blockchain Technical Writers.
How to prepare for these roles?
If you would like a career in Blockchain or you are already operating in any of the listed roles, the easiest way to step into the roles is to simply get Certified in the roles and Keep up with the trends, the jobs can be in many different forms or even name.
Conclusion
The move has begun already. There are scholarships and internships geared to promote interest in Blockchain Technology to be sure to cover the estimated gap in the industry. Here is one opportunity to explore: NITDA Blockchain Scholarship. Always remember that the internet is open and accessible to anyone, further research will reveal more opportunities within the niche that you can explore.
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