Over the last few years, the hype and interest around Blockchain technology have consistently increased. Practitioners from many industries and sectors have joined an open, yet mainly unstructured, discussion on the potential disruptive capabilities of this newly born technology.
In today’s competitive world, businesses need to integrate their business processes with advanced technologies and redesign their current business models in order to be successful. The advent of Blockchain technologies poses a tremendous role in transforming economical, environmental, and organizational performance.
New technologies and digital innovations are gradually reshaping many sectors. We can see how Blockchain technology in particular has been proliferating into different industries and functional roles over the last few years, causing a significant impact on the current job market.
Blockchain expertise is the fastest-growing skill in the latest skill index in today’s world. It’s a huge platform with significant career opportunities for professionals.The demand for people with Blockchain skills is high due to which many fields of application are looking to hire those who have the skills to navigate this new technology.
Blockchain technology has the potential to disrupt and reshape the way we do business. The technology is versatile, offering benefits ranging from increased operational efficiency to decreased costs. Consequently, Blockchain’s applications are diverse, spanning many industries — from financial services and supply chain management to healthcare and identity management.
The list of organizations taking advantage of Blockchain’s potential continues to grow. Some are hiring in-house blockchain developers, others outsource their projects to the top blockchain development companies. So it’s no surprise that this technology is poised to enhance more than 40 million jobs globally by 2030, according to PwC’s “Time for trust” report.
As blockchain technology continues to disrupt, blockchain-related jobs are flooding the market. HR managers and professionals cannot miss this opportunity to add value, trust and knowledge in the field of blockchain technology. Learning the new blockchain business models and finding suitable workers for job roles is critical. There’s an immediate need for HR professionals to collaborate directly with their C-suite executives and leaders to implement blockchain and Web 3.0 strategies into the organization’s strategic priorities and mission statement. HR compliance is to build a balance and coordination on either side of the workplace glass door with new job roles and descriptions in Europe.
Blockchain technology and Web 3.0 in action
There is one form of technology that will have a greater impact on the world economy than self-driving cars, solar energy, or even artificial intelligence. Blockchain is that technology. Blockchain is a simple protocol that bypasses intermediaries and allows for anonymous and secure transactions that are permanently recorded on a public ledger. Blockchain is not only for Bitcoin.
Blockchain holds the power to reshape and transform the world of business and the old order of human affairs. Blockchain is changing the world. Blockchain is a disruptive exponential technology that affects most of the economic sectors. To scale up Blockchain, we need to focus on adoption, regulation and sourcing. With education and training, we increase awareness and adoption. With regulation, we set up the framework for how to build and run Blockchain applications and how to operate in this space. Education on Blockchain, law, regulation and policy is also important, as it helps to better understand the rules of the Blockchain game. Blockchain companies need specialists (Blockchain developers, analysts, engineers, regulators, consultants, etc.) to help them grow and thus, education on Blockchain helps companies address their sourcing problems.
The early development of Blockchain technology (BCT) has already demonstrated the technology’s potential to serve the needs of different industries. BCT has also become established as a popular research topic in different scientific disciplines. This article aims at introducing how several relevant scientific disciplines—supply chain management; management, economics and finance; computer science; security engineering—see the research and education perspectives for BCT. A field review is conducted to present challenges and opportunities of BCT as well as suggestions for future research and education on the topic as seen from the different perspectives. The article also present methods for combining relevant disciplines in a modular online course to address the stated challenges and promote interdisciplinary blockchain education.
Web3 is the third generation of the internet currently being built, where websites and apps will be able to process information in a smart, human-like way through technologies like artificial intelligence (AI), machine learning (ML), Big Data, decentralized ledger technology (DLT), and more.
Although most often associated with cryptocurrencies, today, blockchain technologies serve as the building blocks for new business opportunities. That’s why smart business leaders everywhere are ‘doing the blockchainification’.
New job descriptions and job roles that blockchain technology is bringing in companies
The IT Job Family Classification System in the United States is a series of progressively higher, related jobs distinguished by levels of knowledge, skills, and abilities (competencies), among other factors, and which provide promotional and compensation opportunities. Job Classification system is a basis for career planning and setting pay ranges for IT Pros. IT Job Family Classification System in an individual’s personal career planning and an enterprise’s staffing, promotion and compensation, it is important to have benchmarks on the levels that individuals are at. To that end, one of the best objective ways to meet this goal is to have formal job descriptions and clear paths for promotion and compensation.
Over the past three decades, Janco Associates and its principles have created a set of 312 IT job descriptions that are viewed by many as the industry standard. As a natural extension of that offering, Janco has documented its IT job classification system.
A job family classification system is one that defines how individuals can grow into higher-level positions over time by providing benchmarks and milestones that need to be achieved as they advance over time. This, in time, impacts the responsibilities and compensation that are paid in a fair and objective manner. (figure 1)
In the United States, job roles for 324 positions include all of the functions within the IT group. The job descriptions have been updated to be compliant with PCI-DSS, GDPR, Sarbanes-Oxley, HIPAA, CobiT, and the ITIL standards. The job descriptions are all structured to focus on “Best Practices” as defined by the IT Productivity Center to meet the requirements of World Class Enterprises. They are ready to use and easily modified to meet your enterprise’s unique requirements. Different blockchain and Web 3.0 »job roles« are already included in the IT job family.
Some European countries’ HR departments have already included ”new blockchain job roles” in their job classification systems. Now it is time for (European) HR managers and professionals to dive deep into the blockchain industry and prepare job descriptions, employees and knowledge to be prepared for new technology.
Even in the field of cryptocurrencies (digital money), quite a few new job roles (new professions) have been formed – primarily aimed at economists and financiers. Such as: Crypto Experts and Crypto Analyst/Blockchain Analyst, Cryptocurrency Writer, Cryptocurrency Trader, Digital Currency and CryptoCurrency Product Lead, Digital Asset Exchange’s Software Engineer, Crypto Investment Analyst – Liquid Tokens, Crypto Research Analyst, Financial analyst, Institutional Sales (Crypto), Token Economics and DEFI analyst, Crypto Accountant, Digital Assets, Graduate Trader, Crypto Community Manager.
Have an open mind for new blockchain job roles and business models
As Blockchain technology continues to evolve, so will its career opportunities. Blockchain technology is here to stay! This means, however, that Blockchain expertise will be in high demand for years and years to come.
In the coming decades, Blockchain technology will reinvent multiple industries and applications. It creates new jobs for people with varied skill sets, including programming, business, coaching, administration, and many more. There are literally thousands of different careers and jobs you can choose from in the Blockchain space. Blockchain isn’t just for coders, builders, and programmers anymore — it’s a whole new world of opportunities. If you’re a seasoned marketer, salesperson, or designer, there are many options for you to grow your career with Blockchain.
New business models are also necessary for Web 3.0 implementation in business, which means that even those who have not been directly connected with the development of technological solutions until now will have to familiarize themselves with the specifics of the new business models that Web 3.0 brings.
Managers responsible for strategic decisions will have to learn about the new business models offered by the new Blockchain technology. In this, legal experts will play an important role, as they will have to study the legal aspects of new technologies. Financial experts will have to respond to the challenges of the new “digital money” in business.
There are big challenges ahead of us as a society. How to educate and train workers for “new professions in the field of digitization and Blockchain technology and Web 3.0”. How to inspire and motivate the youth to decide to acquire new knowledge in this field? How and where should companies look for employees with knowledge of Blockchain technology and Web 3.0? The field of Blockchain technology (and STEM) presents a tremendous opportunity for girls and women.
Blockchain technology is rapidly developing, and new career opportunities are emerging in the industry. Some job opportunities require high-level technical know-how, while others do not involve technicalities, like those of a crypto community manager and Blockchain writer. Select one from this list and begin your career in Blockchain technology today as an employee.
When it comes to the potential for Blockchain to create disruption, HR really doesn’t receive that much attention. In spite of this, there are clearly many ways in which Blockchain is and will continue to impact this niche.
Despite all the ways Blockchain technology could potentially disrupt human resource management, HR teams need not to panic. There is still some time to prepare for the upcoming Blockchain revolution—and the technology has a strong track record of success in the industries it has touched so far. What are we (Europeans) waiting for as individuals, as a company or as a society?
Grab Blockchain and Web 3.0 jobs as an HR professional, an HR manager or an employee.
As (European) experts on the Blockchain technology field, we have an exciting opportunity to help influence the future and co-shape it very intensively. Possibly 30 years from now, like the internet, Blockchain will be a commonplace technology, and we will look ahead to the next innovation. Outsiders call it ‘the Blockchain.’ We call it the future of business.
I am confident that EUTECH can promote and contribute to these initiatives and topics.
References:
- Chaise: European Blockchain Skills Strategy March/2022, https://chaise-blockchainskills.eu/wp-content/uploads/2022/05/CHAISE-European-Blockchain-Skills-Strategy.pdf
- BLOCKCHAIN REVOLUTION, https://www.brieurope.org/thought-leadership/
- Blockchain in Academia: Where do we stand and where do we go?, https://core.ac.uk/download/pdf/286030711.pdf
- Interdisciplinary Blockchain Education: Utilizing Blockchain Technology From Various Perspectives, Interdisciplinary Blockchain Education: Utilizing Blockchain Technology From Various Perspectives
- IT Job Family Classification System, https://e-janco.com/it-job-descriptions.htm
- Why Blockchain Jobs Are The Careers of The Future, https://www.linkedin.com/pulse/why-blockchain-jobs-careers-future-jesse-anglen/
- PWC: Time for trust: How blockchain will transform business and the economy, https://www.pwc.com/gx/en/industries/technology/publications/blockchain-report-transform-business-economy.html