The topic of blockchain technology is gaining more attention as it is expanding quickly and has several prospects. From its early days as a specialised technology to its current position as one of the hottest fields in the computer world, blockchain has come a long way.
For individuals wishing to pursue a career in the industry, the blockchain ecosystem provides unique obstacles and necessitates a certain combination of skills and certifications, just like any other technology.
We spoke with Vikram R. Singh, CEO and Founder of Antier, and Harsh Bharwani, CEO and MD of Jetking Infotrain, to learn more about some of the most crucial abilities and credentials required for success in pursuing a career in blockchain technology. We also discussed the difficulties and exciting advancements facing the sector, as well as common misconceptions about this line of work.
HOW TO START
"Holding onto blockchain is more than just using the technology. It's a notion or concept. All you need to get started with blockchain is a solid internet connection, so you can do it from the comfort of your own home, according to Singh.
Many free courses are available online relating to blockchain technology, an excellent way to make a beginning. The topics to cover while learning the blockchain basics include blockchain techniques and algorithms used, consensus protocol, and the concepts of asymmetric key encryption and hashing.
“You can also view and subscribe to the best blockchain YouTube channels to help you stay on top of emerging blockchain trends,” Singh adds.
If you want to build a career in blockchain technology, Bharwani lists a few things you should do to prepare yourself:
- Gain a deep understanding of blockchain: Start by reading books, blogs, and articles on blockchain technology.
- Get educated: Consider enrolling in a course or certification programme on blockchain technology.
- Gain hands-on experience: Practice building your own blockchain applications or contributing to open-source blockchain projects to gain practical experience.
- Attend blockchain events: Attend industry events, such as conferences, hackathons, and meetups, to network with other blockchain professionals.
- Build a professional network: Connect with other blockchain professionals on social media platforms like LinkedIn and Twitter to build relationships and learn from others.
- Stay up-to-date: Keep up-to-date with the latest trends and developments in the industry.
- Get involved in blockchain communities: Join blockchain-related forums and online communities to stay informed.
SKILLS AND QUALIFICATIONS FOR A BLOCKCHAIN CAREER
Blockchain professionals need to cultivate a wide range of competencies to be ahead of the game, although the skill sets that one needs to prioritise for building a career in blockchain can vary depending on the specific needs of the company.
Bharwani says that in order to build a career in blockchain, you require two sets of skills -- technical and non-technical skills. They include the following:
Technical skills:
- Knowledge of programming languages
- Smart contract development
- Understanding of blockchain protocols
- Experience with cryptography
Non-technical skills:
- Problem-solving
- Communication skills
- Adaptability
- Business acumen
- Networking
Vikram R Singh notes the following aspects that aspiring blockchain personnel need to know:
- A thorough understanding of the blockchain technology architecture is highly important. Developers should be well-versed in concepts like cryptography, consensus, hash functions, distributed ledgers, smart contracts, and other concepts integral to the architecture on which the blockchain is built.
- They should also be familiar with the four types of blockchain architecture, namely consortium, private, public, and hybrid.
- Developers need a thorough understanding of cryptographic concepts and practices, including wallets, keys, and digital signatures to provide a secure blockchain environment.
- They should be well-versed with cryptographic hash functions like SHA-256 and Keccak-256, as well as public-key cryptography, to prevent any unauthorized access to data.
- Since data structures are at the core of how the blockchain network operates, developers should routinely work with data structures and understand how the blockchain network uses them.
- They should also be familiar with the range of data structures, including graphs, heaps, hash trees, Patricia trees, and Merkle trees.
- Different programming languages are often employed while implementing blockchain environments, like Java, C++, Python, and JavaScript, and developers must be adept in them.
- They must have a firm grip on object-oriented programming and know about various development libraries and frameworks if they want to be successful in this field.
IMPORTANCE OF NETWORKING
Networking is critical in the blockchain industry, as it can help you stay up-to-date with the latest advancements in the field, connect with potential employers or clients, and learn from other professionals.
“To begin with, start by connecting with people that you know or follow from the industry. Utilise social media platforms such as Telegram, Reddit, Discord, LinkedIn, and Twitter to join blockchain-related groups,” explains Vikram R Singh.
“Two most popular communities that you can find on Telegram and Discord respectively would be ICO speaks and Official WallstreetBets with over 500K active members,” he says.
Harsh Bharwani says that some of the most effective ways to build a strong professional network in the blockchain industry include attending industry events, joining online communities, participating in hackathons and competitions, collaborating on open-source projects, and connecting with other blockchain professionals on social media platforms.
CHALLENGES IN BLOCKCHAIN INDUSTRY
Jetking Infotrain CEO Harsh Bharwani lists the following challenges that one may face in the blockchain industry:
1. Regulatory uncertainty: Blockchain technology is still a relatively new and rapidly evolving field, and regulatory frameworks around the world are still being developed.
2. Lack of standards: There is a lack of standardisation in the blockchain industry, making it challenging to integrate different blockchain platforms and ensure interoperability.
3. Scalability: Scaling blockchain networks to handle large volumes of transactions remains a challenge, and current solutions are still in development.
4. Security: Blockchain technology is designed to be secure, but vulnerabilities and exploits still occur to this day until the industry matures even more.
5. Adoption and education: The adoption of blockchain technology is still in its early stages, and many businesses and individuals may not fully understand its benefits and potential use cases.
6. Talent shortage: The demand for blockchain professionals is increasing, but there is still a shortage of skilled professionals in the industry.
BLOCKCHAIN CAREER JOB ROLES
With the increasing demand for blockchain professionals, there are a plethora of opportunities for people interested in building a career in blockchain. Here are some of the top career opportunities in blockchain technology:
1. Blockchain Developer: Blockchain developers are responsible for developing blockchain solutions and managing blockchain networks. They should have a strong understanding of various programming languages, cryptographic concepts, and data structures.
2. Blockchain Architect: Blockchain architects design and develop blockchain solutions and oversee the development of blockchain applications. They should have strong technical skills and be able to lead a team of developers.
3. Blockchain Analyst: Blockchain analysts analyze and evaluate blockchain technology to identify its potential uses in various industries. They should have a strong understanding of blockchain technology and its applications.
4. Blockchain Consultant: Blockchain consultants provide advice to companies on how to implement blockchain technology and develop blockchain solutions. They should have a strong understanding of blockchain technology and be able to advise companies on the best strategies for adopting blockchain.
5. Blockchain Project Manager: Blockchain project managers oversee the development and implementation of blockchain projects. They should have strong project management skills and be able to manage a team of developers.
BLOCKCHAIN INDUSTRY MISCONCEPTIONS
Harsh Bharwani says that there are several common misconceptions people have about building a career in blockchain, such as:
1. ‘It is only for tech experts’: One of the most common misconceptions is that you need to have a technical background to work in blockchain. While a technical background can be helpful, it is not always necessary. Blockchain companies need professionals from various fields, including finance, marketing, law, and business development.
2. ‘It’s only for cryptocurrencies’: While blockchain technology is the underlying technology for cryptocurrencies like Bitcoin, it has many other use cases like supply chain management, identity management, and voting systems, among others.
3. ‘It is only for startups’: Another misconception is that blockchain is only for startups. While blockchain is a technology that has emerged largely through startup companies, established organisations across a range of industries, including finance, healthcare, and logistics are also exploring its use.
4. ‘It’s a get-rich-quick scheme’: There is a belief that blockchain is a quick way to get rich. While it is true that some people have made a lot of money through cryptocurrency investments, building a career in blockchain requires hard work, dedication, and a long-term mindset.
“To address these misconceptions, it is important to educate people about the various applications of blockchain beyond cryptocurrencies and highlight the diverse skill sets required to work in blockchain,” Bharwani says.
NEW TRENDS AND PROSPECTS IN BLOCKCHAIN INDUSTRY
“The blockchain industry is evolving rapidly, and there are several trends that are likely to shape its development over the next 5–10 years,” explains Jetking Infotrain CEO Harsh Bharwani.
They are as follows:
1. Increased adoption: One of the most significant trends is the increasing adoption of blockchain technology across various industries.
2. Integration with other technologies: Blockchain is likely to become more integrated with other emerging technologies, such as artificial intelligence, the Internet of Things, and cloud computing.
3. Greater regulatory clarity: As the blockchain industry matures, there is likely to be greater regulatory clarity, which will create a more stable and predictable environment for businesses and individuals.
4. New business models: As blockchain evolves, it is likely to create new business models and revenue streams that will create new career opportunities for individuals.
5. Growing demand for security and privacy experts: As blockchain technology becomes more widespread, there will be a growing need for experts in cybersecurity and privacy.
Bharwani says that one should pay particular attention to the following areas of development in the blockchain industry:
- DeFi (Decentralised finance)
- NFTs (non-fungible tokens)
- Supply chain management
- Identity management
- Central Bank Digital Currencies (CBDCs)
- Governance
“India has 450+ Web3 startups and 77% young population, accounting for 11% of the global Web3 talent pool. Continued growth could institutionalize blockchain and increase demand and salaries for specialists,” says Antier CEO Vikram R Singh.
By following the steps outlined in this article, individuals can build a strong professional network, gain the skills and experience needed for success in the field, and contribute to the ongoing development and growth of the blockchain industry.
Source: India Today