According to research, with a compound annual growth rate of 56.3%, the industry of blockchain will be worth $163.83 billion by 2029. Again, more than 85 million blockchain.com wallet users have been found worldwide as of March 2023. It is also predicted that global spending on blockchain solutions will reach $19 billion by 2024.
The swift progress of blockchain technology is exhibiting no visible signs of slowing down soon. In the past couple of decades, innumerable aspects that seemed out of the question, like double spending, net fraudulent activities, recovering lost data, etc., have turned out to be untrue. However, now all this can be prevented with the remarkable blockchain technology.
Not only that, but blockchain also made its way across a broad gamut of domains like banking, automobile, finance, aviation, etc. It has entirely converted the data management approaches and traditional methods of doing business in the digital world. Innumerable companies worldwide are harnessing the power of blockchain to make their business robust, agile and scalable.
If you’re considering your next move in your career or making efforts to get ahead of the next big industry trend, you are on the right track. Today’s comprehensive post aims to walk you through certain crucial reasons for how mastering blockchain could accelerate your career by notches and enable you to pursue a fruitful career ahead.
Let’s dive right in!
Crucial Reasons Why You Should Learn Blockchain Development
A Promising Career
Since blockchain was launched as a new and remarkable theory of network operation for crypto-currencies, it has continued achieving tremendous popularity. As a result, this has generated an increasing number of opportunities for high-skilled blockchain developers. Individuals pursuing blockchain can pursue thriving careers as eminent Blockchain consultants, Crypto-currency analysts, Blockchain Developers, Senior Software Engineers, Research Analysts, etc.
According to the best minds associated with technology assignment help services, a considerable salary hike was observed every year, inspiring an increasing number of individuals to receive training and look for jobs in this specific domain. Presently, the average base salary of a blockchain developer in the US is $136,000 per annum, with a low base salary of $70,000. Further, in the upcoming years, blockchain is predicted to become mainstream, generating even more lucrative employment opportunities around the globe.
Ultimate Disruption in Chain
Blockchain tends to enhance loyalty and confidence between countless operating parties. Hence, it breaks the workflow, reduces the chain value, and speeds up inter-party processes.
This also implies the players should be making a remarkable size of their company while considering the future position while managers get to re-evaluate their value chains.
Offers the Opportunity to Be at the Forefront of Change
Do you know, as per a poll by Deloitte, 86% of tech-savvy teams feel blockchain has tremendous crucial benefits? This is mainly with remarkable skills in businesses that are blockchain-enabled, you will possess the capacity to convert stagnant industries, operationalise the technology of blockchain, and steer enhanced models of business.
Mastering blockchain will not only help you make progress in senior roles but will also help you be at the forefront of change. When it comes to collaboration in organisations, implementation of technology and modification of supply chains, you will be given the liberty to make vital decisions. Further, you may also be able to play a critical role in facilitating your company towards advancements into the new modern era of sustainability, governance and cyber-security.
Presence of Diverse Industries on Blockchain
One of the crucial reasons you must aim to master Blockchain technology is due to its promising implementation in the sector of industry. The network and technology of blockchain have proved to be an effective solution for managing and keeping an eye on industrial operations.
Like, Maersk, an organisation has already utilised blockchain to keep track of their containers worldwide. In this way, they can access true information about the positions of their trailers and have round-the-clock access to it. Walmart is delving deep into countless blockchain applications so that they can track products effectively.
Again, countless industries and sectors with the inclusion of real estate, healthcare, aviation, banking, computing, retail, energy and resources, and the like have already begun integrating the blockchain process as their technology of operation. In fact, banking has the highest blockchain market value distribution, with 29.7%.
The Learning Process is Not All Challenging
Blockchain is a remarkable programming technology, so mastering it takes considerable time and effort. But designing a blockchain isn’t as complex as you might have imagined. No wonder 90% of developers around the world are observed to have the desire to learn blockchain technology in the next 3 months.
Once you have developed profound knowledge in web development through programming languages like C, C++, Python, Java, NodeJS, and Go, the skill becomes easier to acquire. Additionally, all you need to do is develop an extensive knowledge of one or more of these vital areas, along with a firm grasp of the functioning of blockchains, to become a stalwart in the field.
Hugely Supporting and Prosperous Community
Another crucial reason to pursue blockchain development is the prosperous and expanding community with incredibly supportive participants. The constantly evolving blockchain community effectively aids beginners in finding answers to their troubles in the initial phase of mastering blockchain.
Further, the community is a reliable information source for the trending best practices adopted by the industry.
Enables You to Work from Anywhere in the World
If you desire to work in the blockchain space, there is no need to limit yourself to a particular location. As the development of blockchain is still in the early phase, numerous organisations are open to recruiting remote workers. This gives you a remarkable chance to work from anywhere in the world.
Helps in Making Calculated Investments in ICOs and Cryptocurrencies
Blockchain is an essential cryptocurrency technology. Hence, when you comprehend the crucial concepts associated with Blockchain, you will develop in-depth knowledge to make informed decisions regarding trading and investments. Additionally, becoming well-versed in the technology will enable you to shortlist certain outstanding ICOs based on crucial concepts.
It has created the Inflection Point of an Era
The world has witnessed countless revolutionary technologies procuring a prominent spot in the market. It is believed that Blockchain has made a similar impact. It is considered to create a point of inflection of the current era where numerous giant and eminent players such as Master Card, CIBC, VISA, Citi Bank, SBI, Western Union, Accenture, JP Morgan, Standard Chartered Bank, and the likes have successfully consolidated the blockchain technology. This denotes that it is going to become a widely accepted technology soon.
So, it is wise to ride the current wave and make the most of this remarkable technology while it lasts.
Allows in Bringing A Significant Change
It is crucial to note solutions that are blockchain-based possess the capability to introduce humongous life-altering changes. Smart contracts are constantly altering the way of gaining access to different financial services and traditional borrowing and lending techniques. As a developer of blockchain technology, you could easily contribute by creating innovative solutions that could completely transform the quality of life.
Wrapping Up,
One of the countless areas a web developer can specialise in is the development of blockchain technology. Though the rumours of its complicacies are doing rounds, crucial reasons exist for you to begin pursuing it now more than ever.
However, the demand doesn’t mean the journey of learning the technology will be easy in any way. But, once you dip your toes in the field and become enthusiastic about it, you will be able to understand that the development of blockchain technology is much easier than you ever imagined it to be. What’s more, it is totally worth it. Good luck!
Author Bio
Anne Gill is an eminent computer science consultant and an avid blogger. Professionally, she also works for MyAssignmenthelp.co.uk, where she offers informative blogs and unique computer science assignment help solutions.
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