A recent report by the most popular professional networking platform, LinkedIn states that blockchain is a top skill in demand. The findings of the report clearly showcase the rapid fluctuations in skill requirements in the IT job market, with Blockchain at the top in 2020. Hiring managers are constantly on edge with frequently changing trends in the requirements of hard skills and soft skills.

The most striking highlight about the report is that it has stated, “blockchain is the most-demanded job skill in 2020”. On the other hand, there was no hint of blockchain among the requirements of hard skills in 2019. This article presents an in-depth perspective on the findings of LinkedIn’s report with an idea of career prospects in the blockchain.

The requirements of soft skills for enterprises have the tendency to reform gradually over the course of time. On the other hand, the most demanded hard skills continue to transform drastically, especially with continuous technological advancements. LinkedIn had included analytical reasoning, artificial intelligence, and cloud computing as the top hard skills in 2019.

All these skills are still present on LinkedIn’s list of most demanded hard skills this year. However, blockchain has been able to mark its own presence among the top skills of 2020. This has been a promising boost for driving awareness around career opportunities with blockchain technology. Blockchain is a top skill in 2020, and this statement coming from LinkedIn would have a huge impact on career prospects.

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Why Blockchain is a Top Skill in 2020?

According to LinkedIn’s report, Blockchain is the top skill for its potential for inducing transformation. The blockchain technology has finally achieved a distinct recognition than cryptocurrency with different industries adopting its diverse functionalities. The different relevant use cases for blockchain also showcase the potential of blockchain for penetrating different job markets.

Previously, blockchain expertise was limited to cryptocurrency markets, and gradually financial institutions started using blockchain technology, and slowly it has gained a substantial market base. Recruiters have to leverage the power of blockchain as one of the most in-demand skills for the future to drive business value. Recruiters have to develop familiarity with the working of blockchain, its potential benefits, and the professionals suited for helping businesses leverage the maximum potential of blockchain technology.

Readers should also note that apart from LinkedIn’s report, blockchain is a top skill in the US, UK, Germany, Australia, and France. Many large enterprises continue to look for blockchain professionals with some top names includes Oracle and IBM. In addition, startups are also on the constant lookout for blockchain experts. Another critical aspect of blockchain is that professionals can explore a wide variety of job roles with blockchain expertise. The diversity of blockchain-based job roles includes opportunities for developers, business managers, coders, analysts, engineers, and many other roles.

Industries that Demand Blockchain Expertise

Presently, the demand for blockchain jobs would increase in specific sectors. The impact of the report would encourage the expansion of employment opportunities in the significant sectors that require blockchain expertise. Almost every industry ranging from financial institutions, banks, insurance, retail, accountancy, and even law offices, want to leverage the benefits of blockchain.

Blockchain is a top skill in the case of these industries for the advantages of decentralization and secure transactions. Blockchain startups, which have been operational since the inception of the technology, could use individuals with blockchain expertise to drive innovation in their products and solutions.

The decentralization aspect of blockchain is also driving its adoption in tech firms and governmental firms. While decentralization helps in simplifying internal and external transactions for tech firms while streamlining operations, governmental agencies are leveraging blockchain for the symbiotic balance between cryptography and transparency.

Hard Skills and Soft Skills

LinkedIn has used specific criteria for qualifying hard skills and soft skills in its report. Hard skills are basically the employee’s ability to carry out a particular task while soft skills are about the approaches for achieving the concerned task. Soft skills are particularly associated with the ability for collaboration, problem-solving, decision making, and adaptability. On the other hand, hard skills among which blockchain is the top skill in 2020 require technical abilities and specialization in areas such as patent law, software development, or financial accounting.

Hard skills have easier criteria of definition and measurement in comparison to soft skills. Employers would look for soft skills in combination with blockchain skills for filling in crucial blockchain-based job roles. However, soft skills deal primarily with cognitive abilities, behavior, personal traits, and thinking. These aspects are particularly hard to measure and present notable difficulties for recruiters.

So, what is the ideal soft skill that makes blockchain one of the high paying skills 2020? The answer to this question, according to LinkedIn’s report, is emotional intelligence. Emotional intelligence showcases the ability of blockchain professionals to recognize their emotions and that of others. It also helps a professional utilize emotional information for driving proactive and efficient thinking. Recruiters can use questions such as candidate’s responses to previous mistakes or performance in short-term projects for evaluating the emotional intelligence of candidates.

Other Hard Skills in Demand

In addition to the fact that Blockchain is a top skill in 2020, there are many other skills with global demand. UX design, affiliate marketing, video production, business analysis, and sales are also crucial in-demand skills for 2020. While cloud computing, analytical reasoning, and artificial intelligence have a formidable position in the list of hard skills for 2020, blockchain can prove to be a game-changer. Prospects of integration of blockchain technology with IoT and cloud-based solutions present the initial evidence for the same.

Is Blockchain Here to Stay?

Blockchain is a top skill, and LinkedIn has stated it for the first time. It seems nothing less than a miracle as the report of LinkedIn comes at a time just before a sudden spike in digital transformation. Enterprises are shifting towards digital platforms for ensuring sustainability, reducing costs, optimizing resources, and many other reasons.

The recent global pandemic has been a huge driver for digital transformation, and blockchain technology is a proven tool for the creation of highly secure, transparent, and effective end-to-end solutions. So, the higher demand for blockchain technology expertise would continue to improve in the future.      

So, if you are aspiring to build your career with the most in-demand technology, you should start your Blockchain journey now with the Free Blockchain Course. Take the first step now to lay the foundation of a bright future!