The amount of people who currently partake in cryptocurrency investment every day shows a rise in the blockchain revolution. It has been reported that trading tokens on platforms like Bitcoin and Ethereum add more than 100,000 users each day. Global funding of blockchain-based startups has also increased from $550 million in 2016 to over $1 billion in 2017.
As the blockchain industry continues to achieve increased global popularity, more applications of the technology pertaining to several industries including finance, real estate, and even education continue to materialize. The ingress of these applications creates a considerable amount of jobs that need to be filled. Indeed.com reported that in 2016, blockchain job postings increased by 631% and 207% in 2017. Many large companies such as IBM, Intel, and Visa are all currently hiring blockchain software engineers and other network professionals.
Due to the scarcity of people with the credentials and technical knowledge of blockchain development, there is a high demand for these smart professionals, and as a result, they currently command a high salary. In fact, according to IBM’s vice president of blockchain technologies, Jerry Cuomo, the best blockchain engineers can earn a salary of over $250,000, which is considered high in the software industry. In a bid to keep up with the phenomenal increase in the job market, people continue to seek ways to expand their scope of blockchain knowledge.
To aid the foray of interested individuals in the field of blockchain tech, many American universities have added several related courses and resources to their curriculums. Schools like Duke University have developed research labs for the creation of new blockchain-based technology. The Massachusetts Institute of Technology (M.I.T.) has also launched its Digital Currency Initiative, geared towards pushing applications of blockchain and supporting blockchain groups towards achieving their goals.
Johns Hopkins has also joined the bandwagon with their new blockchain courses one of them titled: Blockchains and Cryptocurrencies. According to the school, “This course will introduce students to cryptocurrencies and the main underlying technology of Blockchains.” The course begins with a background in cryptography and proceeds to address recent advances in the applications and design of blockchains. It is specifically tailored to students who express an interest in research data or hope to build new blockchain-based applications. It is also meant for those who are generally interested in learning how cryptography works, and it is expected that students applying to the course have a strong mathematical background.
Blockchain technology has a high potential to create new, incredible business solutions. This is evident in the increased market adoption of the blockchain education network. However, scaling blockchain technology globally in different industries requires technical knowledge. This cuts across the board to include economics, engineering, data science, law, real estate, media and a host of other specializations that need to be adapted for application to blockchain.
Higher education institutions in the U.S. now face the issue of creating a supply that meets the demand for these specialized tracks. Unfortunately, the process is slow and difficult due to the scarcity of talent in the growing field. The onus falls on universities and blockchain companies to find ways to bridge this demand-supply gap by offering more courses to train upcoming professionals. This will ensure the facilitation of further blockchain adoption and the creation of future industry leaders.