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5 Most Popular Crypto and Blockchain Jobs in Demand

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Image Credit: mywork booked / Flickr

Blockchain technology and Cryptocurrency are now amongst the sectors that offer the most job opportunities in this era. As blockchain technology finds its way into global adoption, more firms are on the lookout for employees with skills in blockchain technology. Firms that wish to integrate this technology are in high demand for blockchain and cryptocurrency experts. With the constant increase in the rate of the adoption of blockchain technology, there is a high probability that it will achieve mainstream success, as it is among the fastest growing skills. Here are five job opportunities we believe every crypto and blockchain enthusiast should look out for, in 2020 and beyond 

1. Blockchain/Software Developers

A blockchain/Software developer designs and applies the distributed blockchain-based network of a particular blockchain project. This simply means that a blockchain developer must be vast in blockchain technology. As a blockchain developer, skills like computer networking, cryptography, data structures and algorithms, are prerequisites. A blockchain developer is expected to be familiar with Bitcoin and Ethereum coding languages, and must also be capable of developing protocols. A Blockchain/Software developer is also expected to be conversant with how decentralized systems and peer -to- peer networks work. This is arguably one of the most demanding blockchain careers, as can be justified with the level of skills needed to succeed. Blockchain/Software developers are often in high demand because industries are overwhelmed by many opportunities blockchain technology offers. This simply translates into more job opportunities for people with this skill. 

2. UI/UX Blockchain Designer

UI/UX Blockchain designers are responsible for showcasing what a particular blockchain project entails, to the general public. They translate the ideas of these companies into simple and understandable designs on the website. This means that these designers act as portals which are used by blockchain industries, in order to reach the general public and potential customers. Individuals who can design blockchain-focused templates on websites and web pages, are in high demand. Companies are on the look out for designers who can create catchy web pages with sleek user interfaces (UI/UX). Unlike front end engineers, UI/UX designers do not apply any programming language in carrying out their task. However, they need to be vast in applications like Sketch, Photoshop, Figma, Adobe XD, and be able to design a user interface that works on mobile devices. Good communication skills and creativity are also prerequisites.

3. Blockchain Product Managers   

This is another blockchain career that is very vital to the success of any project. Blockchain product managers serve as advocates for all the team members involved in a project. It is the duty of the product manager to represent the customers before the developers, and vice versa. The product manager is the link that connects everyone involved in a project. He or she understands the main objectives, the market and the users in the market. With this knowledge, the product manager is expected to devise strategies targeted at achieving profitable outcomes. Blockchain product managers are responsible for the planning and supervision of the entire processes involved, after the initial developments are done. 

4. Crypto Business/Investment Analyst

As a business/Investment analyst, you play a vital role in identifying the business and investment needs of your company and also proffering the best solution to the identified needs. Blockchain technology, being a disruptive and innovative technology that requires high scrutiny, approach and expertise, the role of a business analyst is one of the key factors that guarantees success. A business or investment analyst conducts proof of concept, financial viability analysis, and comes up with excellent methods of reducing cost and maximizing profit. It is within the job specification of investment analysts, to evaluate new investment opportunities through market research, product reviews, competitive analysis, metrics analysis, customer/user reviews, and technical diligence. 

5. Front/Back End Engineers

Front/Back end Engineers build and maintain a website for blockchain projects. They collaborate with UI/UX designers to build intriguing websites that give considerable information on what services a blockchain company renders. Back end Engineers build the main structure of the website, which are often complex series of protocols using coding languages like C++, Java, Ruby, PHP and Python. The front-end Engineers, alongside UI/UX designers, are responsible for the interactive web pages that grant the public access to a website. They suggest features to improve program navigation and operation. Front end Engineers make use of languages like HTML, CSS and Java Script. An individual can serve as both the front-end Engineer and as a back-end Engineer at the same time. In such cases, the individual is referred to as a “full stack Engineer”. 

The list of crypto and blockchain jobs in demand are growing every day, however these five picks are the most sought after position.

Let’s know your thoughts on the other jobs currently in big demand the crypto scene.

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Market Watch

Jack Dorsey‘s Square to develop open source Bitcoin mining

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Jack Dorsey Bitcoin

On Friday, October 15, Twitter CEO Jack Dorsey announced that American fintech company, Square, would be looking to get into Bitcoin mining. Jack Dorsey who is also Square’s CEO announced this on Twitter which subsequently sent waves through the bitcoin market, surging its price to almost a record high, rising over $62,000 over the weekend. According to the Twitter boss, Square is looking to building an open source Bitcoin mining system that would be available to individuals and businesses.

Sharing his thoughts further on the initiative, he stated that “Mining needs to be more distributed” and that “the more decentralized [mining] is, the more resilient the Bitcoin network becomes. He also mentioned the apparent inaccessibility of mining stating that “Bitcoin mining should be as easy as plugging a rig into a power source.

Dorsey also believes that bitcoin mining “needs to be more efficient and that “clean and efficient energy use” would be undoubtedly beneficial to the digital currency in the long run.

Dorsey ended the thread by saying that a “technical investigation would be undertaken by a Square team led by Jesse Dorogusker, Square’s hardware lead. If successful, this initiative would be another of Square’s bitcoin focused projects which includes a Bitcoin hardware wallet.

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Financial Leaders from G7 Release Guidelines for Central Bank Digital Currency

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Source: World Atlas

At a meeting that was held in Washington, yesterday, October 13, G7 leaders discussed central bank digital currency and endorsed 13 public policy principles with regards to their implementation. The financial leaders from G7 agreed that CBDCs would complement cash and should not be detrimental to the monetary system. The G7 leaders have been discussing CBDCs this week concluding that they should do no harm and meet rigorous standards.

It should be noted that G7 includes finance leaders in advanced economic nations comprising of Canada, France, Germany, Italy, Japan, the U.S and the U.K. the G7 leaders make it mandatory that any newly launched CBDC should not harm the central bank’s ability to perform its duty of maintaining financial stability. In a joint statement by the G7 finance ministers and central bankers, they said that, 

“Strong international coordination and cooperation on these issues help to ensure that public and private sector innovation will deliver domestic and cross-border benefits while being safe for users and the wider financial system.” 

The joint statement further states that CBDCs are complements to cash and could serve as a liquid or safe settlement assets with an added advantage of anchoring existing payment systems. CBDCs issuance should be entrenched in a long-standing public commitment to transparency, rule of law, and sound economic governance. The statement added at CBDCs must be so efficient that they are fully interoperable on a cross-border basis. 

The G7 leaders agreed that they had a duty to minimize the incidence of ‘harmful spillovers to the international monetary and financial system” 

The G7 statement reiterated a similar statement earlier made by G20 that no global stablecoin project should begin operation until such a token has addressed legal, regulatory and oversight requirements. 

Countries like China and Nigeria are ahead of the pack with regards to the adoption of digital Yuan and Naira respectively. China’s crackdown on cryptocurrency may be a step forward for the country’s plan to promote its digital Yuan. Nigeria, on the other hand, postponed the launch of its eNaira in deference to the 61st anniversary of Nigerian independence on Oct 1. 

However, countries like the US and the UK are dragging their foot with regards to the introduction of CBDCs to their financial system. There are insinuations that America is in danger of being left behind technologically and financially if it doesn’t get serious with the implementation of CBDC in its financial system.

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Learning Guides

Understanding Speculation and Crypto Volatility

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Everyone who dabbles in the crypto industry learns almost immediately that the market is very volatile and oftentimes things can change very quickly. That volatility is the fundamental reason why some investors make absolutely stunning gains in so short a time and others lose a lot of money as well. Trading in crypto is one of the riskiest ventures any person can undertake and as they say, it’s not for the faint of heart. The risks can be mitigated of course and sometimes depends specifically on the coin or crypto asset being traded on, barring general market trends.

Nevertheless, to get to the bottom of the volatility concept, one must understand speculation in the market. To start off, the concept of speculation isn’t limited to cryptocurrencies, on the contrary, speculation has existed for as long as economics and trading has. But it is worth saying that speculation is often a feature of novel sectors, assets, commodities and the like. So, even though cryptocurrencies have been around for more than a decade, they’re still in their infancy as far as markets go. One could say that the market is still trying to find its feet.

One of the fundamental reasons why cryptocurrencies are so volatile is that they are fundamentally backed by nothing of value outside the attention that they get. Unlike many fiat currencies which are either pegged to another currency’s value or whose value is unilaterally determined by a central authority, cryptocurrencies only derive value as a function of how many people are willing to use is to transact, i.e. trust in the asset because other people trust it. As a rule of thumb, the larger the number of people who accept the asset, the more valuable it becomes.

This is one of the hallmarks of speculative trading. In the crypto world or in any market that’s novel and untested, many people are in it to win it which means their strategies in trade has the objective of making as much profits as possible in the short term. Therefore, the market enters a subtly dangerous cycle of rapidly changing prices of assets. Basically, investors typically buy assets when prices are low and wait. As more investors are attracted to the commodity for its low prices, it sets off a cascade where more people buy in, causing the price to steadily rise. 

However, all good things must come to an end and it almost always gets to a breaking point whereupon the price gets high enough for investors to begin to sell. This reverses the earlier cascade and as more and more investors pull out, the prices can fall dramatically causing even more to sell off in fear of losing whatever investments they have left. The prices having fallen resets the game and primes investors to begin buying again.

Volatility has been one of the talking points of many critics of cryptocurrencies often comparing it to a Ponzi scheme. And in certain cases, persons of interest with large pulls and audiences can substantially affect the rate at which prices rise and fall. Other factors include government regulations. Volatility at its core reflects the often chaotic nature of trade and market interactions and human hopes and fears.

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