The industries that are using blockchain to better their business

‘Blockchain’ literally refers to a chain of blocks that contains information. It was created way back in 1991 and since then has been adopted by industries from banking to healthcare.

Blockchain makes the storage of information safer as once data enters a block, it becomes very secure and difficult to change. Each block is made up of data, a hash, and the hash of the previous block, thereby creating a chain. This form of secure data storage is what has enabled its adoption into industries that deal in sensitive information that needs to be kept private.

The reason it’s hard to infiltrate these chains is that the hash number is unique and therefore if one block of data is corrupted it renders the attached blocks invalid. Since the hash of the previous block is what connects it to the next, when there is a data breach it only affects the specific block of data. If someone wanted to tamper with the blocks, they would need to tamper with every block on the chain. To learn more take a look at our informative guide, What is Blockchain?

What are job prospects like for a blockchain professional?

Blockchain is a thriving industry with an array of jobs on offer. As this technology continues to evolve and take centre stage, the rise in blockchain jobs will be apparent. In fact, the rise in blockchain roles is already obvious, with Glassdoor revealing that demand for blockchain work rose by 300% in 2018. Separate research also shows that 15 of the 18 most popular industry jobs contain the word ‘cryptocurrency’ in their descriptions.

So, what kind of roles can someone who has a professional blockchain qualification expect to apply for?

• Blockchain developer

• Blockchain project manager

• Blockchain web developer

• Blockchain analyst

To find out more about the top jobs in blockchain, take a look at our blog on the top blockchain jobs you need to know about.

What are businesses using blockchain professionals for?

A report from CompTIA found that 16% of companies had purchased blockchain-enabled tools, while 22% were developing tools using blockchain. The study also showed that businesses are using blockchain across an array of industries and for different uses. Due to the versatile nature of blockchain, almost every industry is looking into utilising blockchain technology.

Here’s the breakdown of what businesses are using Blockchain Professionals for:

• Digital identity (51%)

• Asset management and tracking (49%)

• Regulatory compliance/auditing (49%)

• Distributed storage (48%)

• Smart contracts (45%)

• Cryptocurrency/payments (44%) 

What industries and businesses are hiring blockchain professionals?

Here are the top industries using blockchain technology right now:

• Banking: Blockchain is so secure that it can effectively do what a bank can do in areas where a traditional bank isn’t set up, opening up the world of financial services. Banks evolving with the times are now using blockchain to make their operations faster and more secure.

• Healthcare: Have you ever changed doctors or moved location only to find that your health records can’t be accessed easily by your new doctor? With blockchain, records and information can be stored in one singular, secure system which could be accessed easily by anyone who has authorised access to the data.

• Charities: Before now, it has been difficult to send money to charities without questioning where the money is actually going. Using blockchain to create smart contracts means that data can be stored securely and money can be transferred safely without the need for cash or wire transfer.

If you want to embark on a career in blockchain, take a look at our Certified Blockchain Professional Course which will help you get to grips with the world of blockchain technology. You can also get in touch with us today to speak to an expert learning consultant.