Scope of Blockchain technology

Future Scope and Opportunities of Blockchain Technology in 2022

Blockchain technology has many far-reaching applications across different industries. It is already used for facilitating identity management, supply chain analysis, smart contracts, and much more. Though the future of Blockchain technology majorly lies in Cybersecurity the full potential of this technology likely remains to be discovered. Today, it is one of the most discussed-about technologies in business, and employment in this sector is creating a boom in the IT industry. Therefore, there are tremendous opportunities in Blockchain technology for people will the right skills and knowledge.

It is helpful in the verification as well as traceability of multistep transactions that require verification and traceability. It also provides secure transactions, reduces the cost of compliance, and speeds up the data transfer processing. Moreover, it helps in contract management and audit of the origin of a product. With such a diversity of applications, it offers various job profiles to suit your interest and expertise.

So, if you are someone who possesses that amusement towards blockchain technology and its use then this blog is for you as here we’ll discuss in detail the scope and career opportunities of this technology in the IT sector. Just stick with the blog till the end and you’ll get a fair idea of the steps you need to take in order to build a successful career in this industry. Let’s begin with knowing the skills that one should possess in order to enter this field-

Skills Required

A blockchain technology professional must possess the following skills-

  • Programming skills
  • Web development skills
  • Cryptography
  • Technical understanding
  • Knowledge of blockchain architecture
  • Good communication skills

Roles and Responsibilities

The main roles and responsibilities of a blockchain technology professional include-

  • Researching, designing, developing, and testing blockchain technologies.
  • Brainstorming and helping in the evaluation of applications for new tools and technologies as they continue to evolve.
  • Maintaining and extending current client-side and server-side applications that are responsible for integration and business logic.
  • Getting involved in the global blockchain community and working on the implementation and integration of the latest improvement proposals.
  • Documenting new solutions and maintaining those of existing ones.

Blockchain Technology Future Scope

As mentioned earlier, blockchain technology has completely revolutionized the field of information registration and distribution. As the number of cyber-attacks is on a rise, this technology is attracting more and more audiences. Its enormous future scope can be observed in various fields, some of which are-

Finance

Blockchain when incorporated with financial transactions gives amazing outcomes. It helps in saving money as well as the time requirements for processing and validating transactions. It works on a distributed database that eases the operations and ensures tight security. Thus, it is being consistently used to keep track of financial properties and the government is now observing it to explore a range of options.

Cloud storage

As the data on a centralized server is usually exposed to loss of data or hacking. Here, Blockchain arrives and makes cloud storage comparatively stronger and more protected.

Supply chain management

Blockchain technology helps to document a transaction as an everlasting distributed record and hence, supervises the transactions more transparently. Moreover, it helps in monitoring costs, employment, and releases at every point of the supply chain.

Cyber-security

Blockchain technology reduces the chances of an attack on data as it verifies data and encrypts it using cryptography technology. Thus, this technology is immensely used in the field of cyber security.

Advertising

Blockchain provides a solution to carry transparency to the supply chain and fetches trust in a trustless environment. Thus, it enables the right organizations to succeed by reducing the number of bad players and fraudsters. Hence, more and more advertising companies are now exploring Blockchain to enhance their businesses.

Forecasting

Nowadays, global distributed prediction markets are being created with online platforms, and Blockchain technology is efficiently altering the research methodology and techniques of consulting and forecasting.

Blockchain Technology Career Prospects in 2022

Undoubtedly, Blockchain as a skill-set is growing at the fastest rate with jobs in this domain growing at an astounding rate of 2,000-6,000%. Not just this but the salaries of Blockchain developers are 50-100% higher than that of conventional developer jobs. With such evident growth in this field, the year 2022 is definitely a great time to enter this area. There are multiple career options for people with knowledge of Blockchain. So, let’s discuss some of the highest-paying job profiles in this field-

Blockchain Developers

Blockchain software developers are the professionals who maintain a high-level interaction with the Blockchain. Their job is to make use of the algorithms developed by core Blockchain developers and then incorporate them into their apps so as to develop decentralized applications that run on the Blockchain.

Average salary-Rs. 7,00,000

Blockchain Solution Architects

Blockchain architects design solutions that enable firms/organizations in handling edge-to-edge entities, manage their inventory and track activities within the whole system.

Average salary-Rs. 20,00,000

Blockchain Project Manager

Blockchain project managers are the professionals responsible to manage the team, work on the database systems, process systems, and the token money of projects. Candidates with thorough knowledge of blockchain essentials can apply for this role.

Average salary-Rs. 17,00,000

Blockchain UX Designers

Blockchain UX designers focus on the development of a unique, simple, and user-friendly interface that keeps the clients engaged. For this role, the candidates need to possess detailed knowledge about the solutions and designs of blockchain.

Average salary-Rs. 7,90,000

Blockchain Quality Engineers

Blockchain quality engineers are the professionals responsible for the development of automation frameworks, manual testing, and testing for bugs and glitches. So, they report the concern to the right department if any issue arises and ensures that the final product does not contain any bugs.

Average salary-Rs.4,50,000

Blockchain Legal Consultants

Blockchain legal consultants help people in identifying the right answers to questions they might don’t even know. Thus, they suggest blockchain permission and platform feasibility with your use case.

Average salary-Rs.15,00,000

Average_salary
The average salary of blockchain developers

As said before, a successful career in blockchain technology offers plenty of job paths and opportunities to work on innovative projects using cutting-edge technology. We’ve discussed almost all the in-demand career profiles in this field to help you choose the best path for you based on your interests. Once, you decide to enter this field, it is very important to follow an appropriate route to reach your goal, keeping in mind the prerequisites and additional accomplishments that’ll help you get a good job in this field. So, let’s look at what things are to be done after completing your schooling in order to build a successful career in blockchain technology.

How to Become a Blockchain Developer?

Blockchain was designed as a platform for Bitcoin, thereby permitting it to become a reality. In this lieu, an aspiring Blockchain developer should become familiar with Bitcoin. There are different types of Blockchain developers – One is the Core Blockchain Developer and the others are the Blockchain Software Developer.

  • A Core Blockchain Developer is responsible to design the security and the architecture of the proposed Blockchain system. Moreover, as a Core Blockchain Developer, you will be responsible to create the foundation upon which others will then build.
  • A Blockchain Software Developer is responsible to use the core web architecture built by the Developer to create apps, particularly the decentralized and web varieties.

Indeed candidates planning to make a career in Blockchain are either starting from scratch, having no background in programming, or those who have experience in careers that share similarities with Blockchain. For those who wish to become a Blockchain developer but have no skills or experience to build a foundation on, then the road is going to be tricky and will require more work and dedication.

Educational Qualification

Firstly, you should get yourself a bachelor’s degree in computer science or IT-related fields preferably. In some cases, a master’s degree is also required for advanced positions.

Learn Different Programming Languages

As a good Blockchain developer needs to be comfortable with a selection of programming languages. For instance, C++, SQL, JavaScript, and Python languages are good examples. If you are already proficient in a couple of them, then great!
Take Blockchain Developer Courses
When it comes to acquiring relevant, marketable skills, there’s nothing as good as taking courses through an accredited training provider.

As you know, it’s the work experience and your practical knowledge that comes into count while you look for a job, so try to get some work experience in the IT sector. Along with this, getting certified in blockchain technology will provide you with dual benefits. One is the skills and practical knowledge that it’ll imbibe within you and the other is that it’ll act as valid proof of the skills that you possess. Hence, you can refer to the tutorial linked below in order to better understand the certification programs on blockchain technology offered by Vskills. Moreover, you can try out the practice tests in order to test your level of preparation and analyze your performance at each step.

Blockchain technology online tutorial

Get ready to boost your skills with Certificate in blockchain technology at Vskills

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