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5 Most Popular Crypto and Blockchain Jobs in Demand

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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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Crypto Assets

Crypto prices drop as global market fear increases

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Top cryptocurrency prices have fallen amidst a drop in stocks and fears over China’s Evergrande debt crisis. In the last 24hour, Bitcoin dropped from $47,772 to $42,630 shedding about 8.58%. this is the lowest in price since another bull run began on Sept 5 after the April crash.

El- Salvador’s President, Nayib Bukele sees the fall as an opportunity to invest more. Recall that the country adopted Bitcoin as a legal tender on September 7. Despite the adoption, the price of Bitcoin has fallen by almost 14% since then.

Other coins have experienced dramatic crashes within the last 24hours. Solana, a coin that has experienced 355% growth within the last 3 months fell from $162 to $130 shedding about 11.39% within the last 24hours. Solana’s fall may be categorized by the 17-hour outage which the founder, Anatoly Yakovenko said was caused by bots “flooding the networks”

Ethereum fell by 9.37% while Dogecoin and Axie Infinity fell by 11.22% and 14.14% respectively within the last 24hrs hours. While crypto experiences dark Monday, El-Salvador keeps investing more money in Bitcoin.

A look at the global market

The global market is experiencing fear due to the Evergrande debt crisis. A report published by the University of Michigan shows that consumer’s sentiment is beginning to decline. This trend alone may impact the crypto market as well.

On the other hand, the global market downturn must have been spurred by the Evergrande debt crisis. The company grew to be one of China’s biggest companies by borrowing more than $300bn. Last year, Beijing made rules to control the debt owed by big real estate developers. This led Evergrande to offer its properties at major discounts to raise more money to keep the business afloat. Right now, the company is struggling to meet the interest on payment of debts.

Why would it matter if Evergrande fails?

The collapse of the multi-million dollars company would affect the global market; including the crypto market. Many people bought properties from Evergrande and they expect to make gains. If Evergrande falls, crypto investors will be forced to withdraw more money to keep their business running without the means to invest more. When one business fails, the other gets affected indirectly. This also applies to other firms that do businesses with Evergrande.

The potential impact on China’s financial system is another effect of Evergrande’s fall. In his statement to BBC, Mattie Berkink, the Economist Intelligence Unit (EIU), said that “the financial fallout would be far-reaching. Evergrande reportedly owes money to around 171 domestic banks 121 other financial firms” if the company fails, other lenders or businesses may be forced to lend less. Thereby leading to a credit crunch- a situation where companies struggle to borrow money.

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Bitcoin in Africa

The rise of CBDC in African economies

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Many nations have taken cues from the world of crypto and its resounding successes over the last decade. In order to avoid getting left behind, governments worldwide are increasingly turning their attention towards implementing some form of digital currency, a CBDC which in full is Central Bank Digital Currency. Although inspired by cryptocurrencies, CBDC’s are quite different from traditional crypto platforms. The main differences are that CBDC’s are unlikely to be decentralized, the supply of this currency regulated by the host’s country’s central bank as the CBDC is designed to operate as a sovereign legal tender, the digitized form of the host country’s fiat currency. Thus, a central bank may issue digitized tokens of its currency of which their value is pegged to the fiat currency of the nation in question, making CBDC’s stablecoins.

Africa has seen a rise in the use of cryptocurrencies and it’s still pushing frontiers in this sector. Although the use of crypto in many African nations is becoming more and more pervasive by the day, the tone of governments in many of these countries toward the sector is cautious at best and threatening at worst. However, a few nations have voiced interests in creating digitized versions of their legal tender to function as a CBDC. Amongst these are Ghana, Nigeria, Morocco, Kenya and Tunisia.

Many of these projects are still in the research phase or developmental phase however. A good example is Ghana’s proposed CBDC, the E-cedi being developed in partnership with German company, Giesecke + Devrient. Nigeria’s CBDC project, the eNaira has been announced and according to Nigeria’s central bank, this CBDC will be launched sometime in 2021. To that end, the CBN has partnered with fintech company, Bitt Inc. to serve as the technical partner in the eNaira’s development. Reportedly, the CBN had made the decision to digitize the Nigerian Naira in 2017.

While the pursuance of digital currencies in African nations is a welcome development, implementation of these schemes isn’t without challenges. Chief among the issues countries in Africa face would be the already existing financial service inequality and poor penetration of internet access in the continent. These challenges must be tackled in order to allow for mainstream adoption of CBDCs and the subsequent provision of financial inclusion. The benefits largely depend on the peculiarities of the nation deploying them. For instance, a digital currency is thought to help Nigeria increase foreign remittances, it’s second largest source of forex after oil. Whatever the outcome of these projects, it is becoming apparent that CBDC’s have come to stay.

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Bitcoin trades above $51k ahead of El Salvador’s adoption

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Bitcoin growth

Bitcoin price has rallied above $51,000 ahead of El Salvador’s adoption. The immediate surge in price may be due to the social media campaign that everyone should buy sats of Bitcoin to support El Salvador’s plan to make the coin a legal tender or it may be due to the news of El Salvador’s adoption of the coin as a legal tender on September 7. Users of social media platforms like Twitter and Reddit are discussing how they will buy Bitcoin of $30 each to mark the new El Salvador Bitcoin law.

The surge in Bitcoin’s price began in the last 24hrs with the price rallying around $51,955 with a 3.37% increase. This is an all-time high after the April crash that brought the price of Bitcoin from $64k down to $28k. The move by El Salvador to be the first country that accepts Bitcoin as a legal tender and the social media campaign that leads to a surge in price ahead September 7 are a repetition of events that occurred late last year and early this year with regards to institutional investors and how the price of Bitcoin skyrocketed.

El Salvador, a country in Central America, has been preparing heavily to adopt Bitcoin by installing ATMs to allow citizens to convert the token into US dollars. Last week, the country’s Legislative Assembly passed a law to allow for the creation of a $150m Trust to support the conversion of Bitcoins to US dollars.

To promote the use of Bitcoin, the government states that it will give the adult population of El Salvador $30 in Bitcoin once they download “Chivo” the wallet issued by the government. This was confirmed by the Finance Minister, Alejandro Zelaya.

What this means for Bitcoin investors

Apart from the adoption by Salvadorians, on-chain analytics show that Bitcoin is in high demand. The fourth halving that occurred will make Bitcoin become a scarce token in the nearest future. Thereby increasing the price sporadically.

With El Salvador’s interest in Bitcoin, other countries are likely to follow suit- Panama is considering following El Salvador’s lead. History will repeat itself as this development will serve as another crypto rout that occurred early this year when Tesla and MicroStrategy announced their support for Bitcoin.

El Salvador’s new law allows the use of Bitcoin as a legal tender it can be used to buy goods, pay for taxes and bank loans. This means more demand for Bitcoin, with the fourth halving that occurred, it means less supply. A common rule of economics for demand and supply will apply. Prices are projected to keep rising. At the time of writing this report, Bitcoin is trading at $51,839 with a projection of $52k before the end of today and higher tomorrow when Salvadorians begin to use the token.

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