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The Rise of Blockchain Technology

12 February 2019

by Megan Walsh

FinTech is having a moment. In recent years, an abundance of new start-ups has been shaking up the finance world with their new ideas and industry innovation. And, as we have seen throughout this ongoing fourth industrial revolution, with great innovation comes even greater opportunity for the global job market.

In a recent report published by LinkedIn it was revealed that careers in blockchain development are among the top-five emerging careers for 2019. According to the report, job listings for those who have the skills to create distributed ledgers have grown 33-fold in the US over the past year.

To refresh your memory; a distributed ledger is a widely accessible network made possible by blockchain. Distributed ledgers provide a virtual platform to exchange finances in a completely transparent environment -- meaning every single transaction is accounted for. The ledger is shared across multiple platforms and each change or addition will be made public, which makes the chances of cybercrime or fraud much less likely.

And, as the finance market becomes more digitised and the world becomes more accustomed to online banking – not to mention the threat of cybercrime and phishing scams – the allure of transparent transactions and audible records will make blockchain a key player in the global FinTech industry.

But, as with any emerging market, the blockchain talent pool remains shallow. Developers are in short supply - and yet the demand for such a skillset is growing. So what does this mean for FinTech professionals?

We spoke to Walid Al Saqqaf, founder of website Insureblocks, who firmly believes blockchain is the platform of the future. He said:  “Scarcity in blockchain roles means that top talent can claim higher salaries, so it makes sense for developers to invest themselves in this market now, while client demand outstrips candidate supply.”

 

He said that those with Java experience should be able to transfer their skills to blockchain, so it’s good news for software developers. Blockchain technology shows no sign of slowing down, so now is the time to adapt your coding skills. Over the past two years, Oliver James has seen a steady increase in blockchain opportunities, and Walid predicts even more growth for the market in 2019.

It's an exciting time for FinTech professionals. And we’re here to offer our advice on any queries you might have about this emerging job market. Does a career in blockchain sound like it could be for you? If you would like to find out more information, contact Georgia Sutton on +44 20 3861 9175, or georgia.sutton@ojassociates.com

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