Tuesday, 27 August 2019

Career in blockchain technology

Career in blockchain technology

The blockchain has experienced a massive boom as the technical foundation of the cryptocurrency Bitcoin. In addition, the technology has the potential to change entire industries. At its core is the forgery-proofing of transactions via the Internet, for which previously trusted intermediaries - as in the banking industry - were necessary. Accordingly, more and more experts are being sought in this area. Anyone who sets the blockchain environment as an IT specialist has opportunities for a steep career. 

Great impact on the economy and society
"Blockchain technology will have the biggest impact on the entire financial industry in the near future. In addition to the growing cryptocurrencies, a possible area of ​​application is any type of highly sensitive financial transaction in question. This will make technology obsolete many banking services, "says PSD Director Robert Dahinden. The experienced personnel consultancy has many years of expertise and a large network in the semiconductor and computer industries. Recently, PSD has also provided experts from the blockchain environment.

The idea is already being used in many other areas: for example, e-wallets, retail platforms, the "shared economy" - such as rental vehicles and bicycles - or the subletting of private apartments. Here, too, security trumps: Rental rates and deposits are processed via the blockchain and handed over "digital keys". In the medium term, Robert Dahinden sees great potential for blockchain use in the public sector: from elections to government applications and public procurement procedures to land register entries.

Strong demand in the labor market
Although Blockchain is currently still a niche, it is experiencing massive growth. Of course, this is also reflected in the job market. According to Dahinden, block search providers and service providers as well as companies in the field of chip manufacturers and hardware producers are currently looking for new personnel. But many banks are now aware that their business model is threatened and build their own "think tanks" with Blockchain experts.

Job profiles and requirements for Blockchain specialists
"Blockchain providers are primarily looking for experts with very strong IT security know-how. After all, these companies are reluctant to trust foreign security manufacturers and develop their own solutions to secure their products, "says Robert Dahinden, Director at PSD Germany. The vacancies range from specialists, Chief Security Officers to Chief Technology Officers. In addition, lawyers with international experience in the field of intellectual property are increasingly being sought, Dahinden knows.

In particular, there are new jobs for hardware manufacturers for developers of embedded software solutions as well as for experts in the field of high-performance computing or supercomputing. Finally, blockchain technology requires extreme computing power and vendors need to increase accordingly.

Challenging candidates who want to change to Blockchain should take a close look at their prospective employer. "You must be aware that many providers are start-ups who expect entrepreneurial thinking and action accordingly. There are fewer structures here and often massive growth. This dynamic environment has to be right for you, "says Dahinden.

In addition, there will certainly be a market consolidation in the coming years due to the large number of newly emerging companies. The providers of highly secure and high-performance solutions will survive. In addition, some financial institutions will certainly prove to be strong players.

IT skills shortage also hits the blockchain environment
Since this sector is still relatively young and there is already a huge shortage of skilled workers in the IT environment , job-seeking blockchain specialists are currently in short supply. Accordingly, it is difficult for companies to win already experienced Blockchain experts for themselves. Most of them work in start-ups and often have company shares in the salary package. These are reluctant to change when there is still much "imagination" about their current employer's development. But experts from other areas, such as IT security, are in great demand across industries. "That's why, in addition to an attractive salary, the search companies have to offer a lot in order to get highly qualified candidates into their own hands," explains the PSD Director.

Blockchain is currently still a niche, but is on a massive growth path. Given the tight candidate markets in the IT security, semiconductor or supercomputing industries, identifying and attracting the right candidates is a big challenge for companies. "It makes sense to involve an experienced HR consultancy specializing in these areas in recruiting," says Robert Dahinden.

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