Importance of Blockchain Technology in 21st century

Blockchain technology was brought into the world in 2009, post which it has garnered widespread popularity as a revolutionary technological invention. [1] There is no doubt that in today’s world, technology is rapidly evolving, and it is a great idea to stay at pace with this progression. If you are a tech geek who likes to constantly upgrade your skills or an aspiring user, investor, or developer, you should learn blockchain technology.

This blog gives you information about blockchain and answers the most important question — why learn blockchain technology?

Let us begin by understanding the concept of blockchain.

What Is Blockchain?

Blockchain is a distributed ledger technology enabling transactions that are secure and legitimate. The concept looks quite complex, but it is actually very simple. It is nothing but a type of database. A blockchain is a time-stamped series of unchangeable records of data managed by a cluster of computers which is not owned by any single entity. All these blocks of data are secured and bound to each other using cryptographic principles (i.e., chain).

Importance of Blockchain Technology

Information is the key in any business. Speed and accuracy of transmitting information from one source to another matters a lot and blockchain is the ideal solution for it. The information provided is immediate, shared, and transparent. Once the information is stored, it cannot be tampered with. Access to these ledgers can also be restricted to certain network members only.

If you are still pondering over the reasons to learn blockchain, then read on.

Top 10 Reasons to Learn Blockchain

1. Excellent career opportunities: Blockchain has gained a lot of popularity in global markets and this has led to ever-increasing job opportunities for trained blockchain professionals. Once you become certified as a blockchain professional, you can get a job as a blockchain developer or consultant, cryptocurrency analyst, blockchain solution architect, senior software engineer (cryptocurrency), research analyst, etc. The job scope is vast.
2. Good income potential: The payscale you get after completing one of top blockchain certifications is great. As per Hired, a blockchain developer’s salary is a whopping $150,000 to $175,000 a year. [2] A huge number of high-profile companies are hiring blockchain professionals due to the exponential growth of this technology.
3. Disruptive technology: Blockchain has disrupted the established processes and chains with its 3 pillars namely decentralization, transparency, and immutability. It has disrupted bank systems and has revolutionized various other industries like education, agriculture, healthcare, fintech, etc.
4. Breakthrough in various industries: Blockchain in recent times has gained the credibility of being a very reliable source to store data related to various types of transactions. Due to this functionality, many industries have started using this technology. Big names like Maersk and Walmart have deployed blockchain applications to their system. Sectors like aviation, real estate, computing, retailing, etc., have also initiated the process of integrating blockchain in their existing technology.
5. Easy integration: Due to its universal infrastructure, it is a flexible application which easily integrates with both old and new technologies. Thus, various domains like voting, supply chain management, commodity trading, etc., have integrated blockchain into their existing framework.
6. Digital identity: Nowadays, almost everything has become digital. The pandemic has pushed every industry to set up a digital footprint. Digital banking and transaction services have come to the forefront in this scenario. However, this digital revolution has also paved the way for hackers and cyber criminals to infiltrate the system and commit various frauds. Blockchain has a strict cryptographic system which negates all possibilities of a cyberattack. Every individual has only one online identity through which all the transactions are carried out.
7. Secured data: As we have already explained the system that blockchain uses, it is not surprising that all the data stored is completely safe. The decentralized and distributed record system ensures that the information is passed to the rightful owner with encrypted methods. This makes the data accessible only to the person who has control over the network.
8. Smarter investments: Blockchain uses cryptocurrencies, so an understanding of its concepts will enable you to invest and trade smartly. This is one of the main reasons to learn blockchain. You can make use of this technology to invest and trade.
9. Usage in the government: Blockchain is a transparent technology wherein the data can be accessed by anyone without them being able to tamper with it. Introducing this technology to a government’s systems can lead to transparency and legitimacy. Dubai is the first government to have successfully integrated blockchain in its official operations. It now completely works on blockchain technology. [3]
10. Inflection point of an era: With blockchain gaining widespread acknowledgement in the financial sector, it is set to become a widely accepted technology. This will open the floodgates of job opportunities. There cannot be a better time to ask yourself the question — why should I learn blockchain?

These are the 10 top reasons to learn blockchain and upgrade your career in this disruptive technological field. Now that you have the motivation, the next step is to find ways to learn blockchain. Certifications are a popular choice as they are short-term and offer flexibility.

This article has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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