Why Should You Learn Blockchain Technology Right Now? - Magnimind Academy

Why Should You Learn Blockchain Technology Right Now?


    Blockchain technology is no longer a buzzword restricted to tech enthusiasts and cryptocurrency investors. It is becoming a sought-after skill in many industries, including health, finance, cybersecurity, etc.


    Blockchain expertise is scarce among candidates and also high in demand. If you want to get into this cutting-edge field, it would be best to take a certification in blockchain technology.


    This blog post will show how blockchain can help you land your dream job or career. We will explore the benefits of blockchain and see why it is a valuable skill for blockchain enthusiasts.


    High-Paying Jobs

    The average salary of a blockchain developer is decent, around $100,000 per year, according to Glassdoor. As blockchain is becoming more and more pervasive in various industries, the blockchain industry has high demands and offers high-income potential and promising careers.


    Glassdoor, 2023



    There is a high demand for various job posts for blockchain developers in multiple fields. These include cryptocurrency analysts, mining technicians, cryptocurrency developers, cryptocurrency traders, Bitcoin full-stack developers, and many others.


    Blockchain technology offers several advantages over traditional practices. It is continuously gaining traction, and that’s why the demand for Blockchain professionals is increasing. According to DevSkiller Digital & IT Skills Report 2023, the need for blockchain-skilled professionals will increase by 552% in 2022.




    Revolution in Industries

    The emergence of blockchain technology has brought about an appreciable change in the operations of industries, and its applications continue to expand rapidly. From healthcare to cybersecurity, finance, and governments have started implementing blockchain-based systems to improve efficiency in their functions.




    Blockchain provides industries with more security with its decentralized databases, which are immune to tampering and manipulation. It increases transparency, data safety, and efficiency in business transactions. Blockchain also reduces the cost requirement of various business processes.


    The Deloitte survey revealed that 81% of senior executives believe blockchain technology has achieved mainstream adoption.

    A Danish logistics company Maersk has also used blockchain technology to successfully track its containers globally.


    Investment in Cryptocurrencies and ICOs

    Blockchain is the technology that powers cryptocurrencies. Bitcoin and Ethereum are popular cryptocurrencies. Peer-to-peer cryptocurrency transactions are unregulated. A deeper understanding of blockchain technologies will help you trade cryptocurrencies smartly and more efficiently.

    Initial coin offerings (ICOs) are a popular way for companies to raise money for their products or services related to cryptocurrency. Think of it as a crowdfunding campaign, but instead of receiving a product or service, investors receive digital coins that may have a specific use.



    ICOs are similar to the more familiar initial public offerings (IPOs) in which companies raise funds by offering stocks to the public. Unlike IPOs, ICOs are mostly unregulated, so investors must do their own research before investing. Unfortunately, many ICOs have turned out to be scams or have underperformed.


    An ICO requires you to buy an established digital currency and know how to store and trade it. Since ICOs are unregulated, investors must be cautious and do their research.


    If you have an insight into how blockchain technology works, or more preferably, you have a certification in blockchain, you will be better off shortlisting and investing in ICOs.


    Future of the World Wide Web:

    Web 2.0 is the current version of the internet that we commonly use these days. But like other fields, blockchain technology is also overhauling the internet. Web 3.0 is the next version and future of the world wide web, and it is based entirely on decentralized blockchain technology. As the internet is transitioning from Web 2.0 to Web 3.0, the demands for blockchain developers would be sky-high.



    If you are already a programmer, it would be more than a smart move to acquire blockchain skills so that when the internet fully enters this new era, you will have everything to break into this technology without a hassle and become an industrial revolutionist.


    Future of Finance:

    Decentralized finance(DeFi) is becoming increasingly popular, and many industries have started utilizing it for financial transactions. Cryptocurrencies have disrupted traditional banking systems and are continuously being adopted by several industries. These decentralized currencies don’t require any middleman or central authority, so they are more time-saving and cost-efficient, thus more acceptable.


    Decentralized finance provides more privacy to users as they can make purchases and perform exchanges or transactions, all by being completely anonymous, and their identity is revealed to no one. Also, decentralized transactions are more transparent and secure.




    Global trade is estimated to completely shift to cryptocurrencies instead of paper currencies. Markets and markets also estimated that blockchain would increase to a massive $67.4 billion market size by 2026. So it is the right time for anyone enthusiastic about blockchain or cryptocurrencies to start learning blockchain.


    Blockchain Is Diverse

    Blockchain technology implementations are not limited to cryptocurrencies or record keeping. Blockchain is an ocean of endless possibilities. After the popularization of blockchain and digital currencies, we have seen the advent of NFTs, DeFi, and metaverse emerging. More such technologies are likely to evolve with the adoption of blockchain in multiple industries.



    In blockchain development, developers can do anything in conventional programming. But also, blockchain has much more creativity, and a world of possibilities awaits the developers.



    In conclusion, blockchain technology is rapidly gaining traction in various industries, making it a highly in-demand skill with promising career opportunities and high-paying jobs. With the emergence of Web 3.0 and the growing acceptance of decentralized finance, blockchain technology has limitless potential for innovation and disruption.


    A vital tool for many industries, blockchain technology also increases the security, transparency, and efficiency of commercial transactions. Learning blockchain technology and earning certification in this area may be a wise move for those looking to break into this cutting-edge industry as demand for blockchain professionals continues to rise.


    Figure 1:





    Blockchain is diverse





    Related Articles