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Blockchain Training, Jobs and Salaries
Blockchain developers are the hottest employment opportunity in 2018. Currently, the cryptocurrency community is proliferating but the production of new blockchain developers is severely lagging behind the rest of the growth. A slim talent pool and massive demand means sky high salaries for developers looking to make the jump into the new field.
What is the Blockchain?
The blockchain is a decentralized digital ledger where transactions are recorded chronologically and depending on the cryptocurrency, displayed publicly or not. This digital ledger was first created for Bitcoin (BTC) in 2009. However, over the last nine years, there have been many other developments in the sector. One major competitor is IOTA’s Tangle which looks to achieve the same immutable outcomes in a much different way.
Up until recently, BTC was considered as an outdated coin having the slowest and most expensive blockchain on which to transact, and thus turned to being used as more of a store of wealth (like gold) than anything else.
Since BTC’s most recent updates and forks, it is likely the view of BTC has shifted significantly. The pioneer currency may have been the first cryptocurrency to implement the blockchain, but the technology has progressed rapidly since its inception. Recently, the author looked in depth as to how best expose oneself to these revolutionary technologies without taking on the risk of owning actual cryptocurrencies.
Demand Soaring for Blockchain Experts
Demand from companies for blockchain talent continues to grow and developers are also seeking training opportunities to acquire these skills. This market is growing fast. The market cap for all cryptocurrencies grew from $17.7 billion to $565.1 billion in 2017 with projected growth to $1 trillion in 2018. According to Toptal, the demand for blockchain engineers has grown 700% from January 2017 to January 2018.
To meet this high demand from both employers and students, some schools/universities such as Wharton School of the University of Pennsylvania, University of Pennsylvania and Stanford Graduate School of Business have started including Blockchain in their MBA programs as well. In addition, there are several training companies that offer courses as well.
Jobs and Salary
Most companies do not advertise for these jobs on their website. So how do you find a job and where do you look.
The most popular sites for such job postings are LinkedIn, Indeed, Upwork, Blockchainjobz, Joblift, Crypto Jobs List, Blocktribe and AngelList.
Big companies as well as start-ups are in need of these experts. Bigger companies generally hire for internal projects and employers are mainly in the financial services and software development industries.
Some examples are IBM, MasterCard, Booz Allen Hamilton, JP Morgan Chase, Salt Lending, VISA and Coinbase Exchange.
Compensation for blockchain talent is much higher than regular developers. In high-tech regions such as Boston, Silicon Valley and New York, annual income is up to $158,000. Median salary in other regions in US is about $130,000. According to Upwork hourly rate is as high as $150.
It is the best time now to acquire Blockchain skills and make a switch as demand will continue to grow exponentially.