Upgrade your tech skills with an MBA in blockchain technology

Up until a year ago, blockchain technology was a relatively uncommon specialisation. Now in 2020, blockchain has risen from relative obscurity to become the number one sought-after hard skill, according to this report published by LinkedIn Learning.

Blockchain is by no means a novel discovery. It was introduced back in 2009 and has since made significant inroads into business processes. Blockchain has since gained popularity and has created more job opportunities for trained blockchain professionals.

Blockchain technology’s industry-agnostic application boosts the demand for talent with this skill

Gartner, leading research, and advisory consultancy estimates blockchain technology will generate $3.1 trillion in new business value by 2030.

Blockchain technology and network prove to be a perfect solution to monitor and manage industrial operations especially supply chains and thus is promises various applications in the industrial sector.

Gartner’s report also postulates that blockchain technology will be ready for more mainstream adoption through 2023, which makes right now the perfect time for organisations to explore the technology.

LinkedIn’s report revealed that top blockchain-recruiters were IBM, Oracle, JPMorgan Chase, Microsoft, Amazon, and American Express.

As Fortune 500 companies continue to incorporate blockchain into existing infrastructure, qualifications, and experience in blockchain technology can open various career options.

Blockchain professionals typically function as blockchain developers, cryptocurrency analysts, blockchain consultants, blockchain solution architects, a senior software engineer in cryptocurrency, and research analysts.

Blockchain-related jobs are the second-fastest growing in today’s labour market; there are now 14 job openings for every one blockchain developer. Additionally, The U.S. Bureau of Labour Statistics estimates that systems software developers in cryptocurrency will experience an 11% job growth from 2016 to 2026.

According to a study posted on Hired, blockchain professionals are paid up to $167,975 per annum in the United States. The average salary for blockchain developers in the UK can go up as high as £79,048 ($ 97,019), and C$124,459 ($88,505) in Canada.

Freelance talent marketplace Upwork reported that the demand for blockchain talent experienced year-on-year growth of over 2,000% for 2018, more than 3,500% year-on-year growth since then.

Upwork also reported blockchain to be the fastest-growing skill out of more than 5,000 skills in terms of freelancer billings. The demand showed a year-on-year increase of more than 35,000% for requests spanning ICO advisory services, engineering projects, and overall blockchain consultancy.

Consider an MBA in blockchain technology or management 

Many mid-career professionals who have qualifications in information technology, finance, and even computing should consider obtaining a qualification in blockchain technology.

It is important to consider the prestige of the institution, the quality of the programme, the location of the university as well as the programme’s flexibility when choosing an MBA in blockchain programme.

However, blockchain is a highly technical and constantly evolving field. Prospective students should pay extra attention to the programme curriculum to ensure that the qualification meets current and future industry needs.

MBA programmes with a specialisation in blockchain management are a good option for mid-level professionals who are keen to be leaders in organisations. A sound MBA programme in blockchain technology will provide an in-depth understanding of the fundamentals of blockchain.

Graduates from these programmes will be able to gain applied cryptography knowledge for blockchain. This knowledge should include digital signatures, multi-sig, ring signatures, blind signatures, threshold cryptography, homomorphic cryptography, and zero-knowledge proofs.

MBAs in blockchain technology or blockchain management should also be able to understand quantum cryptography and measures to be taken into account in blockchain to address the post-quantum era and have an overview of business trends and legal aspects around blockchain technologies.

Ultimately, an MBA in blockchain should be able to evaluate the processes, practices, and tools of blockchain and also effectively apply blockchain to current business operations, opening new pathways within organisations.

The skills earned through this qualification will generally provide the skills that will allow MBAs to apply blockchain technology to solve a problem in an economic sector through breakthrough innovation.