How to Compete for Talent Scarcity in Blockchain Space

• Toshendra Kumar Sharma
• September 25, 2020

Presently, the lack of talents in blockchain space is one of the major concerns. In this article, we will discuss the difficulties that industries and enterprises face and how talent scarcity can be overcome. 

 

Table of Contents 

 

• Adoption of Blockchain
• Blockchain Talent Scarcity- Problem For All
• Ways to Bridge the Gap for Talent Scarcity
• Concluding Lines 

 

Adoption of Blockchain 

 

Blockchain is one of the most in-demand technologies that is taking the world by storm. Industry juggernauts like IBM, Microsoft, FedEx, Overstock, among many others, are adopting blockchain technology for their efficient operations. Startups are also leveraging Blockchain and hiring blockchain professionals. At present, this sector has around 11.5K startups that leverage Blockchain to cater to enterprise and consumer markets. Despite high demands for Blockchain developers, tech giants and startups are facing a shortfall of skilled professionals because Blockchain proliferation requires a surprisingly far-reaching skill set.

To fulfill the storage, a growing number of higher education institutes have now started offering Blockchain training and certifications, and others have started working with freelancers. 

 

Blockchain Talent Scarcity- Problem For All

 

The growing deficiency of Blockchain experts is a well-documented concern that has been touted since the technology’s rise into the mainstream.

With the amount of activity happening around Blockchain technology, industries, enterprises, and startups are juggling in finding skilled Blockchain professionals. Businesses are finding difficulty in competing with one another to access Blockchain talent due to the lack of resources. From a perspective of how they can grow a business, those interested in Blockchain technology must hold a community-based approach. Technical expertise with backend knowledge in Blockchain technology is mandatory. To architect, build, implement, and operate Blockchain systems for new business models, not only technical expertise is required, but also legal expertise is crucial. System thinkers with a solid ability to conceptualize complicated concepts are crucial in the Blockchain domain. 

As demand for Blockchain professionals is increasing, the available talent is lagging behind, creating a concern for all. 

 

Ways to Bridge the Gap for Blockchain Talents

 

Let’s figure out how to bridge the gap for Blockchain talents. Let’s have a look at each one of them. 

 

In-House Training and Outsourcing 

 

With the rise of Blockchain, organizations and enterprises have an immense opportunity to build up the skill sets within their companies. Various companies provide in-house blockchain training to educate their employees—such training helps employees address specific business needs and provide Blockchain-focused solutions for business growth. 

 

Outsourcing is the other efficient way that companies are using to bring Blockchain development work. Startups and enterprises are even hiring freelancers that specialize in designing and building Blockchain solutions. 

With such an increasing demand for Blockchain-related freelancers, companies are ready to pay higher salaries compared to other IT professions.

 

Certifications by Blockchain Council to Get a Competitive Edge 

 

The skyrocketing need for blockchain-related jobs has translated into a significant salary bump. But the salary packages depend on various aspects such as skills, experience, location, advanced certifications, among others. Apart from in-house and outsourcing training, there are other ways to gain exposure to Blockchain innovation.

 

Blockchain Council, a globally-recognized online platform, offers Blockchain certifications specially designed for individuals intending to make a career in the Blockchain space. These certifications focus on various specializations in Blockchain, such as Hyperledger, Ethereum, Smart Contract, Corda, Quorum and Blockchain applications to specific industries such as healthcare, supply chain, digital marketing, etc. The platform helps individuals to gain in-depth practical knowledge about Blockchain technologies and its implementation. The platform aims to impart one-on-one mentoring with real-world projects and believe in preparing individuals for the ever-evolving future of work. 

 

Welcoming New-Collar Workers 

 

There is a myth that only experienced professionals can provide viable solutions, and new-collar workers lack technical expertise. As Blockchain is booming, welcoming new-collar workers can prove to be a smart step towards Blockchain adoption. Companies have started hiring and training new-collar workers in this domain. Even top universities around the world are providing Blockchain education that covers all aspects of cryptocurrencies, including distributed consensus,smart contracts, applications, etc. 

 

Participate & Join Communities and Webinars 

 

Participating in the Blockchain community can help learners to get some experience in the Blockchain space. As the demand for Blockchain professionals is growing, more participants are devoting their time to learning technology. Also, for a great initial experience, joining internships can prove fruitful in knowing all the ins and outs of the technology. Moreover, going to meetups, community events, and joining various webinars can help you understand technology in-depth. 

Engaging with industry experts on social media platforms and understanding new approaches followed by industries can prove beneficial in introducing new blockchain experts, thus reducing the scarcity; otherwise, companies will continue to struggle to find adequate talent.

 

Concluding Lines 

 

Blockchain is growing tremendously in terms of capability and usefulness, and so is the demand for Blockchain professionals. But the challenge is to find out the high-skilled expertise which can be achieved by educating enthusiasts in Blockchain space. 

 

To get instant updates about Blockchain Technology and to learn more about online blockchain certifications and become a blockchain expert, check out Blockchain Council.