Corporate

Impact of talent shortage on blockchain

The industry is faced with the technological skills’ shortage as a result of the fast paced growth of the Blockchain. The competition might heat up as the blockchain industry will compete to recruit from the same talent pool and talent shortage has become a serious concern for the businesses and for the blockchain.

Blockchain Talent facing high demand
The major challenge related to the blockchain is the lack of awareness regarding the blockchain technology causing a negative impact on   investment and experimentation of ideas. The blockchain industry  is  striving for the same limited talent pool leading to tough competition and  much higher salaries. In clear terms, the demand for a skilled talent is exceeding the supply and we need effective solutions for the same.

Must-have Skills to Succeed at Blockchain
To be a successful blockchain developer, one may require a unique set of skills and the ability to think outside the box along with web skills and cryptography. The same is also applicable for coding expertise. You’ll require a strong inclination to understand and learn one of the latest blockchain platforms such as Ripple, Ethereum, Hyperledger or Stellar, at the minimum. As an aspiring developer of the core blockchain, you  will need to learn the distributed system, security, networking and game theory, along with cryptography. You’ll also have to be familiar with Bitcoin and other cryptocurrencies as the understanding of coding in the distributed database environments.

The Impact on Blockchain Implementations
Many researches state that Ethereum is the most important software platform of the blockchain platforms at present and many employers are looking to recruit developers who can create Ethereum smart contracts which isn’t suppose to be an easy task as it requires a lot of learning. It requires the knowledge of Solidity, along with its unique development environment, scripting and testing tools, compiler and frameworks. This shortage is leading to a compromised quality of talent hiring.

The gist of it
The blockchain has been a source of many experimentally successful  ideas that, if properly implemented, can bring about a revolutionary change in technology. The blockchain industry needs to develop a solid blockchain talent resource, which, if not achieved, can cause major efforts of the implementations of the blockchain to go in vain.