The world as we know it today is different from what it was just a year back. Retrenchment and redundancy of jobs are becoming a new normal. The blockchain industry sector is however, slightly different. Demand for qualified and interested talents across the globe in the blockchain sector is on the rise.
Blockchain is still a mystery to the masses. Many have not even heard of this, to even think of it as a prospect career will confuse those that have no idea what blockchain even means. This article is written in a generic tone in hopes that you will be able to make a more well-informed decision. Whether you agree or disagree with us, feel free to share your thoughts and opinions via email / comment in a mutually respectful manner.
We look at five (5) of the more common factors that you will most probably face if you are looking for a career in the blockchain industry – be it as an employee or running your own company.
Lack of awareness
The blockchain industry is not new. It was thrust into the spotlight mainly because of Bitcoin and other cryptocurrencies. There is not much readily available data on the job market for the blockchain industry as compared to other industries. You might feel that you’re in this alone, taking a leap of faith into the virtual unknown with loads of unanswered questions. Will this company last? Will I know what I am doing? What is the progression?
Blockchain industry is similar to the likes of the Artificial Intelligence (A.I) space, self-driving cars, gig-economies such as Uber, Lyft, Deliveroo, etc. These ideas existed for decades but were adopted by the generic public only around a decade ago. Today, some of these companies are worth billions and support thousands, if not millions of jobs (ecosystem) globally. There is a high chance that we will be using blockchain more than we realized, thanks to major corporations adopting the blockchain technology.
As the famous saying on the internet goes –
“20 years back when the public internet was at its infancy, people were warned not to talk to strangers on the internet, let alone getting into a confined space like a vehicle or accepting things like food or gifts from strangers.
Today, we are literally talking to strangers on the internet to get into their vehicles, stay in their properties or accepting items like food or items from them (strangers).”
The fear of unknown
There is a perceived notion that blockchain is too difficult or complex to understand. Blockchain is both simple and yet complex enough to turn people off. Like any other industries and interests, if one has enough flair and genuine interest to learn, they would take time and effort to grasp it. This is more of a psychological hurdle, not knowing what you are stepping into would make many think twice.
Thanks to the ICO boom, it gave rise to many scammers in this industry. Coupled with the fact that it is still unregulated (almost) across mature economies, many took advantage of the community. News spread and it tainted “blockchain – cryptocurrencies”. Although cryptocurrency does not equate to blockchain, they will forever be intricately linked. From crypto pump-dump schemes to the ever notorious ICO scam like Onecoin.
These kinds of negative examples have caused much skepticism among the general public. People have even questioned the legality and longevity of this industry. Working in such an unknown industry is not for those who yearn a stable rice bowl – which happens to account for the majority of people.
Decade old but you’re still early. Really.
Something unique about the Blockchain industry – while the technology is relatively a decade old, the idea has been floated for over 30 years. Yet if you enter this industry today, beginning of 2021, you will still be considered an “early-adopter”. If you have reservations if a future in blockchain is a fad, think about how many industries can afford the luxury of time without the constant worry about being out-dated by “newer technology”?
Blockchain technology is driving the future and making other technologies, ideas a reality. The good news for people who are thinking about entering the blockchain industry today is the choices. There will always be opportunities in the blockchain industries – from start-ups to established companies adopting the technology. They are constantly looking for qualified and self-motivated individuals. You would need to make the effort to at least have the basic knowledge of blockchain. This factor has a high internal locus control.
Treat it like any other opportunity
Some major roles you can look forward to in this industry are roles such as; content writers, marketers, branding, administrators, etc. The list goes on. Like any other business, the basics are there and blockchain is no exception. You need awareness and adaptation for the business to grow and prosper. These roles are ultimately, just like any other jobs that the other industries out there require. Whether this industry is a fad or not, the valuable experience you gain is something that will stay with you perpetually.
A stepping stone
Starting a career in the blockchain scene has positive take-away. You get to experience and understand how blockchain technology plays an integral part of many other industries and how they impact our everyday lives. It expands your field of vision and widens your knowledge. You may even find ideas, implement the blockchain technology in your corporation or start your own business venture with blockchain technology. Opportunities that not many others know, giving you exclusive head-start.
These factors are just some to consider when you are researching this industry. We understand that many believe in this technology (blockchain), especially those that dabble with cryptocurrency as they have vested interest. However, not many would take the plunge into making it their first choice career path due to many factors. Whether it is a future or a fad, you need to look at the Blockchain industry from different angles and perceptions.
Almost everything is a fad, what is today will be a memory of yesteryear – in time to come.