The future of Blockchain is bright. The following discussion will aim to reflect on the forecasts presented in the World Economic Forum Jobs Report 2020 to find where blockchain fits in the picture.
Blockchain technology is undoubtedly one of the most in-demand skills in modern times on the grounds of various reasons. It has been responsible for spurring many new job roles that have been driving more opportunities for a career in blockchain. Therefore, many aspiring candidates are likely to search for credible opportunities to score blockchain jobs. As a result, it is inevitable to look for predictions regarding jobs in the field of blockchain.
It is an emerging technology, and it is inevitable for people to look for stable opportunities in securing their careers on blockchain platforms. Readers can use the following discussion to reflect on the important factors that can drive the evolution of the labor market from 2020 to 2025.
The World Economic Forum has constantly been pointing towards the introduction of the future of work in the course of the last five years. It has not only found out the potential for jobs in blockchain but also the considerable possibilities for worker displacement. Technological automation and augmentation supported reliable strategies for enhancing job transitions to accommodate emerging job roles.
The Future of Jobs survey is a crucial tool for evaluating the short-term and long-term trends alongside the impact of technology adoption throughout different labor markets. One of the significant highlights of the survey was the reflection on technological adoption across enterprises with fluctuations in demand for skills and job requirements.
The survey provides an interactive and articulate impression of emerging trends in the labor market. At the same time, it also helped in accessing an opportunity for planning and strategizing for an improved future of work. Let us see how the Future of Jobs Report 2020 by the World Economic Forum reviews technological adoption to find a fit for blockchain jobs.
Potential of Blockchain in the Future
In the recent two years, new technologies have started to gain dominance across enterprises all over the world. According to the survey, almost 11% of the companies were interested in the adoption of distributed ledger technology or blockchain technology. The report indicated that organizations are most likely to adopt new technologies by 2025. Therefore, e-commerce, cloud computing, and big data in turn serve as high priorities by considering the trends presented in recent years.
On the other hand, there are substantial demands for focusing on encryption. As a result, you can notice that the future of work depends considerably on the new vulnerabilities that are prominent in the digital age. Therefore, blockchain technology can serve as a prominent supporting factor in this case by addressing the concerns of vulnerabilities.
Furthermore, the prospects for jobs in blockchain seem brighter as you can explore the opportunities for employment across different sectors. The prospects for adoption of blockchain across different industries serve as trustworthy opportunities for candidates to consider pursuing blockchain-based jobs. Here is an overview of the numbers about the potential for blockchain adoption across different industries.
Blockchain Adoption Across Different Industries
Almost 31% of agricultural organizations, 40% of automobile organizations, and 41% of consumer organizations have expressed interest in blockchain adoption. The highest share of possibilities for the adoption of blockchain technologies is evident in the case of digital communication and information technology, and financial services companies.
The next most promising sector that presents possibilities for blockchain adoption refers to health and healthcare companies, where the adoption rate is 72%. Furthermore, blockchain is also more likely to be adopted by around 61% of companies in education and 50% of companies in the energy and utility sector.
Interestingly, around 40% of the government and public sector agencies surveyed in the report expressed interest in blockchain adoption.
The adoption of blockchain across different sectors would also give rise to the demand for blockchain jobs. Subsequently, it will also lead to driving growth for the future of businesses across different industries. At the same time, it is inevitable to expect formidable growth in the demand for new skill sets and new job roles.
As a result, workforce disruptions are bound to happen in the future of blockchain-related jobs. Technology adoption will definitely influence the job of workers by transforming some of the tasks in the human capacity towards the responsibility of machines.
Subsequently, the level of disruption would depend considerably on the occupation and skill set of a worker. Companies would obviously depend on restructuring their workforce in event of adoption of blockchain technology. So, what will organizations aim at primarily with the new workforce disruptions?
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Objectives of Enterprises in Restructuring Workforce
According to the Future of Jobs Report 2020, companies have diverse objectives underlying the restructuring of their workforces. It is clear that the arrival of new technologies such as blockchain demands revisions in the existing workforce structure in enterprises. However, enterprises also have many other expectations when coming up with advertisements for jobs in the blockchain ecosystem. First of all, around 55% of enterprises surveyed in the report expressed their interest in the transformation of the structure of their value chain.
Subsequently, around 43% of the organizations stated that they want to achieve a reduction in their existing workforce. On the other hand, 34% of organizations wanted to ensure workforce expansion by leveraging comprehensive technological integration. Furthermore, around 41% of the organizations included in the survey want to expand the utilization of contractors for work involving specialization tasks.
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State of Emerging and Declining Jobs
The outcomes of the Future of Jobs 2020 Report by the World Economic Forum also reflect prominently on the state of emerging and declining jobs. Based on the findings of the report, enterprises will experience a major reduction in redundant roles from 15.4% to 9%. At the same time, the report also points outgrowth of 5.7% for emerging professions such as blockchain jobs. Therefore, the report clearly establishes that by 2025 almost 97 million new roles will emerge, thereby presenting favorable promises for blockchain professions.
Therefore, you can clearly note how the Future of Jobs report presents blockchain as one of the emerging in-demand skills. Furthermore, it is also easy to understand how the report focuses on different factors for workforce restructuring. So, with a clear impression of the underlying objectives of enterprises in changing their workforce structure for catering to modern business demands, one can start to evaluate the feasibility of a career in blockchain.
The doubt about jobs in blockchain could find a perfect answer by reflecting on the important reasons driving their demand. Blockchain emerged as the underlying technology for Bitcoin and continues to be a prolific technology for applications across different sectors.
Leading government agencies and big tech companies, as well as startups, have shown interest in blockchain, thereby increasing its demand. So, the demand for blockchain-based jobs has also grown substantially. However, is it reasonable to pursue a career in a technology that has arrived recently and is gaining exponentially rising popularity? If you are ambitious enough to start a career in blockchain, then you must take a look at the following reasons.
Appealing Salary Packages
One of the first reasons to go for blockchain jobs directly refers to lucrative salary packages. Blockchain is a comparatively new technology, and it is difficult to find many people with the desired blockchain expertise for their business objectives. Therefore, candidates with blockchain expertise can definitely command higher salary estimates from top enterprises.
Most important of all, aspiring professionals can capitalize on the salary benefits for technical as well as non-technical jobs with a promising advantage over other conventional jobs. Furthermore, revenue-sharing models associated with jobs in the domain of blockchain can also provide better returns and higher incentives.
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Flexibility for Remote Working
The next critical reason to opt for jobs in blockchain reflects on the opportunities for flexibility with remote working. The rising trend of remote working has been gaining the attention of enterprises and workers alike in recent times. After a global pandemic, workers have realized the benefit of location flexibility rather than stick with going to the office.
As more and more people turn towards remote working, blockchain companies offer a readily available advantage to their workforce. Blockchain-centric enterprises allow the option for remote working to open up the scope for better productivity of their workforce.
Another prominent advantage associated with jobs in the domain of blockchain is the option for staff liquidity. The majority of startups allocate equity to staff, and in an event of liquidity, the staff has to wait for selling their share and obtaining currency. In most cases, the process of liquidating equity is complex and results in very limited grants that generally impose restrictions on the secondary business.
On the other hand, workers in blockchain companies are liable to get a token that replaces the equity-based compensations. The tokens serve as inborn liquid shares that employees can convert into currency according to their convenience and preference.
Therefore, it is quite clear now that blockchain jobs definitely provide a competitive advantage for career development. In comparison to the other emerging technologies, blockchain has been successful in tapping into some of the major industries such as education, energy and utility, financial services, and consumer organizations.
So, it is quite reasonable for any aspiring professional to wonder about the potential opportunities they can find in terms of job roles. Let us take a look at the different viable blockchain-based job roles that would gain attention in 2021.
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Technical Blockchain Job Roles
Generally, you can find technical and non-technical positions for jobs in blockchain ecosystem. Depending on your existing skillset and career preferences, you can make a reasonable choice for taking your blockchain career further. So, first of all, let us reflect briefly on some of the technical job roles in blockchain and what kind of blockchain skills you will need.
Blockchain developers enjoy one of the top positions among blockchain-based jobs that are in high demand. Also, blockchain developers are responsible for creating enterprise applications and solutions on the foundation of blockchain. The work of a blockchain developer is generally complicated than the conventional application developer. At the same time, blockchain developers are likely to enjoy higher remuneration numbers in comparison to common software developers.
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Blockchain Solution Architect
Blockchain solution architects are responsible for driving the adoption of blockchain in alignment with business specifications. The work of a blockchain solution architect largely focuses on translating the requirement of an enterprise into appropriate blockchain solutions. Subsequently, they can implement industry best practices and experience for refining the solution design according to their use case requirements.
Enterprise Blockchain Consultant
Enterprise blockchain consultants are also one of the prominent in-demand job roles that have dominated the blockchain labor market. Blockchain consultant jobs as enterprise blockchain consultants primarily focus on guiding enterprises through the journey of blockchain adoption. The enterprise blockchain consultant job role works comprehensively towards anticipating the new trends. They also review business requirements in unison for suggesting viable and most productive solutions.
Furthermore, enterprise blockchain consultants also play a crucial role in supporting training and education of enterprises regarding blockchain technology. However, enterprise blockchain consultant jobs are very comprehensive and require a considerable amount of training and professional experience. So, you might score better chances at an enterprise blockchain consultant job role with some credible blockchain certifications and official training.
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Non-Technical Blockchain Job Roles
The world of blockchain careers also presents some non-technical positions that do not require technical fluency. Some of the notable non-technical job roles in blockchain deal with operations and design or working with other blockchain-based businesses. Another notable entry among non-technical positions among jobs for blockchain technology refers to customer-facing roles. Customer support executives in blockchain can utilize their business skills with an awareness of blockchain technology to resolve customer complaints.
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Therefore, it is clearly evident that the future of blockchain jobs is quite bright in the coming years. However, it is also crucial for all aspirants to follow best practices to secure a career in blockchain-based job roles. The Future of Jobs Report 2020 is a trustworthy indicator of the job prospects emerging in the sector of blockchain.
You can try and find your desired jobs in blockchain with comprehensive training and career guidance according to your needs. In the long run, you would also have to deal with certifications for improving your employment appeal. So, go ahead and start training now for a bright future in blockchain careers!
If you are just a novice and want to start your training as a professional, you can check our certified enterprise blockchain professional course. We wish you all the best in your future endeavors.