Blockchain Industry to Grow by Leaps & Bounds in 2021

In the last couple of years, the rate of adoption of blockchain technology across business domains has surged vehemently. Disruptive tech has emerged as a problem-solver to a variety of business processes, even after you exclude the tasks associated with digital transactions. The financial services industry has been the biggest beneficiary of the said technology, but in the recent past, a plethora of industry sectors have started leveraging the blockchain in its business processes. A few of them comprise travel, music, real estate, energy, government sectors, and many others.

Blockchain tech use cases in companies worldwide (2020)
Source: Statista

Demand for Blockchain Professionals Higher Than Ever

The expansion of blockchain industry across multiple business domains has directly resulted in a heavy boost in employment generation, and a big spike in the demand for blockchain skills. In today’s day and age, blockchain technology experts are being paid heavily by corporations across industry sectors. The circumstances are such that it’s becoming rare to find skilled blockchain professionals for employers. The biggest reason for the same being a heavy dearth of skilled blockchain professionals across the globe.

Blockchain Industry Job Growth Prospects & Salaries

Avg. Blockchain Developer Earnings in the US
Source: Indeed

As per popular job search portal ‘Indeed’, the average annual pay that blockchain developers are raking in the US happens to be a whopping $92,973. Glassdoor has said that the increase in blockchain-related jobs has been an overwhelming 300% in 2019, compared to the related figures in 2018. The career options in the blockchain domain have expanded enormously in the last two years. Aspirants must be highly hopeful of making a rewarding career in the said industry in 2021 if they possess the relevant skills.

Blockchain Certifications Can Contribute Immensely in Helping You Grow Your Skillset:

Industry-relevant blockchain certifications can help acquire a competitive edge for the industry aspirants. According to the recruiters hiring for blockchain roles at the top organizations globally, it’s the requisite skillset that is missing among the candidates which eventually leads to their rejection for the job role.

Because the technology is relatively now among other disruptive tech such as data science, AI, and machine learning, people don’t have much awareness of the skillset required for the blockchain job roles across each industry domain. Each business, depending on its needs and the industry sector it falls into, has its specific demand of blockchain skills. And that’s why, the need to acquire skills and certifications that are specific to your target industry, or firms.

As a matter of fact, the global investment in blockchain-powered business solutions will rise to a whopping USD 15.9 billion by 2023.

Concluding Thoughts

There exist a plethora of reasons for the demand for blockchain skills to rise higher in 2021. Firstly, blockchain tech and data security go hand in hand, provided the data storage on a blockchain network does not involve a single server, but, a network of computers. Secondly, it’s impossible to change or alter the time-stamped digital records on a blockchain without the authorisation by the network administrators.

Thirdly, the speed at which the cross-border monetary transactions take place on a blockchain platform, cannot be challenged. Moreover, there are no intermediary federal body governing the cryptographic exchanges.

And lastly, the traceability benefits associated with blockchain technology are unparalleled. The disruptive technology offers the feature of ‘audit trails’, under which you gain the access to identify the origin of an asset and the concerned milestones attached to its overall journey. The said feature allows you to find the identity of the individual associated with the tempering of an asset that has already been recorded on the chain with a duly assigned timestamp.