One of the most talked-about tech developments in recent years has been blockchain. Like many other critical developments before the pandemic, it didn’t garner as much attention in 2021 as it had previously.
However, growth has progressed, and technology has been embraced by a wide variety of industries and sectors this year.
Despite being a relatively new concept (less than a decade old), blockchain is here to stay due to its ability to disrupt industries as diverse as insurance, banking, cars, and aviation.
Artificial intelligence, blockchain, cloud, and machine learning are examples of breakthrough technologies that have carved out a niche and become commonplace in terms of market adoption.
Businesses all over the world are embracing new technologies to make their business models more flexible, robust, and scalable.
The simplest way to explain blockchain is that it is a ledger – a data storage infrastructure – that is protected due to encryption and decentralization.
With so many copies scattered around so many locations, all held up-to-date at the same time, improvements to the data can only be made when everybody agrees it’s the right thing to do.
There is no question that technology is constantly changing in today’s world, and keeping up with this transition is a good idea.
If you’re a techie who likes to keep learning new things, or if you want to be a customer, investor, or developer, you can learn about blockchain technology.
This article explains blockchain technology and addresses the most critical question: why should you study it?
- 1 Let’s Start With A Simple Understanding Of Blockchain
- 1.1 Importance of Blockchain Technology
Let’s Start With A Simple Understanding Of Blockchain
Blockchain is a distributed ledger system that allows for safe and legal transactions. Although the definition appears to be complicated, it is very clear. It’s nothing more than a folder.
A blockchain is a time-stamped collection of immutable data records maintained by a group of computers that are not owned by a single individual. Cryptographic concepts are used to protect and connect all of these data blocks (i.e., chain).
Importance of Blockchain Technology
In any market, information is crucial. The speed and precision with which information is transmitted from one source to another are critical, and blockchain is the perfect solution for this.
The data given is real-time, accessible, and transparent. The details can’t be changed once it’s been saved. Access to these ledgers may also be limited to specific members of the network.
If you’re still undecided on why you should study blockchain, keep reading.
1. Excellent career prospects:
Blockchain has grown in popularity in global markets, which has increased the number of work opportunities for blockchain professionals.
You may function as a blockchain developer or consultant, cryptocurrency analyst, blockchain solution builder, senior software engineer (cryptocurrency), research analyst, and so on once you are accredited as a blockchain professional. The work entails a wide range of responsibilities.
2. Breakthrough in a variety of industries:
Blockchain has recently developed a reputation for being a very trustworthy source of data for different forms of transactions. Many businesses have begun to use this technology as a result of their versatility.
Blockchain implementations have been implemented by major corporations such as Maersk and Walmart. Aviation, real estate, computing, retailing, and other industries have begun to integrate blockchain into their current technologies.
3. Digital identity
Almost everything nowadays is digital. The pandemic has compelled every industry to establish a digital presence. In this case, digital banking and transaction services have taken centre stage.
This digital revolution, on the other hand, has made it easier for hackers and cybercriminals to penetrate the system and commit various frauds.
Blockchain uses a strict cryptographic scheme that eliminates all cyberattack possibilities. Every person has only one online identity from which they conduct all transactions.
4. Good earning potential
After completing one of the top blockchain certifications, you should expect to earn a lot of money. A blockchain developer’s annual salary varies from $150,000 to $175,000, according to Employed.
Thanks to the rapid development of blockchain technology, a large number of high-profile businesses are recruiting blockchain professionals.
5. Secured data:
Given the system that blockchain employs, it should come as no surprise that all data stored is fully secure.
The knowledge is transferred to the rightful owner using cryptographic methods thanks to the decentralized and distributed record system. This limits access to the data to the individual in charge of the network.
6. Blockchain’s use in government
Blockchain is a transparent technology that allows everyone to access data without being able to tamper with it. Transparency and integrity can be accomplished by integrating this technology into a government’s processes.
The government of Dubai is the first to effectively incorporate blockchain into its official operations. It now fully utilizes blockchain technology.
7. Bonus point: An era’s turning point
With broad acceptance in the financial sector, blockchain is on its way to becoming a commonly accepted technology. This will result in a slew of new work openings. There’s no better time than now to ask yourself, “Why should I study blockchain?”
For economies, governments, and businesses, the blockchain is a game-changer. It can disrupt a wide range of sectors, including real estate, supply chain management, voting systems, finance, and banking.
As a result, practitioners from a variety of fields are learning how to use distributed ledger technology. All of the top universities have begun to incorporate Blockchain into their curriculum.
As more people are expected to impart blockchain education, the demand for blockchain faculty is increasing. Blockchain has also made inroads into the education market.
It is important to train workers on emerging technologies such as blockchain, machine learning, IoT, and artificial intelligence to build a professional workforce that can keep up with technological changes.
Now that you’ve got the run, the next step is to figure out how to learn blockchain. Blockchain certification courses are a common option since they are both short-term and flexible.
The Certified Blockchain Professional training program from the blockchain council focuses on the information and skills you’ll need to get a job, all bundled in a versatile learning module that suits your schedule.