Looking for a job in blockchain? Here are five companies to watch
Recent headlines have not painted blockchain in the best light. It is often coupled with cryptocurrency, as evidenced by last year’s crypto failures, including Terra Luna’s collapse, followed by Three Arrows Capital and Celsius, plus FTX’s implosion amid allegations of large-scale fraud involving client funds.
This saw net confidence in the cryptocurrency across 17 major markets fall by 30% on average, according to figures from Morning Consult. However, blockchain is the technology that cryptocurrency runs on and is not inherently the reason behind the above scandals and failures.
A decentralized distributed ledger tracks, stores and verifies transactions across multiple nodes (or computers). They are registered in such a way that the registered transaction cannot be changed with retroactive effect. There is a significant difference between a traditional database where information is kept centrally. The blockchain also makes it impossible for a single person or entity to control all the nodes.
As a relatively new technology – it was only invented in 2008 – the use cases have ebbed and flowed. The banking and finance sectors have explored the use of blockchain technology to pivot traditional pillar banks into the fintech and new banking space, but it has many use cases beyond finance.
Many large and well-known companies, including Google, Amazon, PayPal and Facebook, have looked at ways to adopt blockchain technology.
Supporters say it has applications spanning health, education and government functions, where items such as health and medical records or citizen data also need to be kept secure. Other applications include logistics, advertising, retail, NFTs and music rights and royalties.
The snowballing value of blockchain technology has been predicted by Gartner to reach $176 billion in revenue by 2025 and $3.1 billion by 2030. In terms of jobs, the blockchain market is expected to have 40 million jobs worldwide by 2030, and it is a field where high wages are common. For example, blockchain engineers in London earn an average salary of £98,107.
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Looking for a job in blockchain? Take a look at these five companies below, each developing exciting businesses across climate, pharma, energy and more, to get a taste of the blockchain roles out there.
Founded in London in 2017 by Veera Johnson and Douglas Johnson-Poensgen, Circulor offers solutions to give companies visibility into their supply chains to demonstrate responsible sourcing, improve their ESG performance, reduce greenhouse gas (GHG) emissions and manage supply chain risk.
Based in France, BlockPharma is developing a blockchain-based drug traceability and anti-counterfeiting solution. The BlockPharma app allows users to instantly check the authenticity of the medicine they purchase. The company uses the latest machine learning technologies to improve the detection of counterfeit medicines.
A next-generation cloud platform, Cudos unites cloud and blockchain, using additional computing capacity to create a decentralized, sustainable and connected world. The company says over $1tn is spent on IT hardware annually, but these compute resources are unused up to 50% of the time. By connecting blockchain developers and services to a global pool of computing power, it says it can enable up to ten times more cost-effective, greener computing. This can be used to “power your next metaverse, dynamic NFT, AI, machine learning, DeFi or other computationally demanding dApps and smart contracts,” the company says.
Founded in 2017 and based in Berlin, Energy Web is a global non-profit organization developing open source technology to help decarbonize the global economy. It has an extensive footprint in Europe, including 27 projects in 15 countries. Energy Web has grown into the world’s largest energy blockchain ecosystem that includes utilities, grid operators, renewable energy developers, corporate energy buyers and others.
Founded in 2015, Ireland-based Eiravato is a global waste platform technology that allows companies to digitize their waste data to comply with regulatory requirements, monitor waste consumption across global sites, transform waste into circular economy materials and achieve zero waste approval.
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This article is part of a paid partnership with careers marketplace Jobbio to share the most exciting UK tech jobs with UKTN readers.