What Makes Blockchain Technology Self-sustainable
BTC Wires: As this generation trends towards what can justly be called the onset of the fourth industrial revolution, a major driving wheel that’s rolling this revolution is the Blockchain technology. The way Blockchain has developed, and the way in which it has been solving problems that we’re insurmountable blocks in the past is astonishing. An industry that was once considered an element of the ‘deep web’ domain in now on of the top and trending section of modern technology.
The incline of Blockchain usage by users and its acceptability has been ever increasing. A very, very significant example of the same has been reported by the the Journal, who report that: “Some 4,500 job openings with the terms ‘blockchain,’ ‘bitcoin’ or ‘cryptocurrency’ in the title were posted on LinkedIn this year through mid-May, according to the company. That is up 151% over the total in all of 2017. Just 645 such job openings were posted in 2016.” It is indeed surprising to denote the increasing adaptability of the technology and the people who understand it and are working towards its further expansion.
As far as the workforce of this incredible technology is concerned, it mostly comprises of a relatively young batch of applicants and competent position holders. We are talking about people who come with a brief experience that averages mostly between 3-4 years, and who are doing very well for themselves. Due to the newness of Blockchain, companies face a stark paucity while head-hunting for able employees. Hence, once spotted by the right organisation, these young employees are paid most handsomely.
Yulia Chernova, technical writer at The Wall Street Journal talks about how most developers working on the Blockchain and crypto domain lift heavy profits working their way around Ethereum and Bitcoins. Hence, a respectable number of them are already millionaires by now, so they don’t care about the money as much. Venture capitals and ICOs have already driven an significant majority of developers away from traditional employment.
Scarcity of developers who are adept with Blockchain technology has become a global problem, as Blockchain is crossing newer boundaries each day. Refined work set-ups and up-valued enumerations for developers is a clear indication of the fact that work which may have been free of cost until now may have finally found a market.