An Intro to Blockchain Technology

By Cherish A

I can imagine many of you are still unsure of roles that may be of interest to you within the technology industry. Technology is such a broad and constantly changing industry and with emerging technologies such as artificial intelligence, there are always new jobs coming to light. This article will provide you with an understanding of certain roles and areas that could correlate with your skill set.

What is a blockchain?

Blockchain is a new emerging technology. It currently supports cryptocurrencies such as Bitcoin, however, its uses go beyond digital currency. We are seeing industries such as finance, healthcare, and cybersecurity beginning to use blockchain to offer businesses enhanced security and efficiency. Blockchain is an advanced, distributed database shared within a business network. A blockchain database stores data in blocks that are linked together by chains. These blocks are linked using cryptography. Cryptography is when information is coded or hidden so that only the person it was intended for can read it.

How does a blockchain work?

A blockchain is where information is entered and stored. The difference between a traditional database and a blockchain is how the data is structured and accessed. There are programs called scripts within a blockchain that perform tasks such as entering and accessing information and saving and storing it somewhere. There can be multiple copies of a blockchain stored on different machines, however, they must all match up to be valid. An example of blockchain technology is PayPal. They use blockchain to speed up transactions. In 2020, PayPal launched a blockchain-based service that lets users buy, hold, and sell cryptocurrency.

What impact does blockchain technology have on certain industries?

As mentioned, blockchain technology is being implemented into industries such as finance, healthcare, and cybersecurity. Healthcare workers can use blockchain to store their patients’ medical records securely. This can provide patients with proof that the records cannot be changed by anyone. This is because they can be stored on blockchain with a private key available to certain workers to ensure privacy. The possibility of a data breach is reduced significantly due to cryptography. This gives patients a sense of confidence in healthcare systems. Blockchain is being used to improve cybersecurity and protect networks against data breaches. It improves security by using cryptography. Blockchain databases are encrypted to ensure tamper-proof transactions.

What roles may require blockchain technology?

There is a diverse range of opportunities within the blockchain industry. They cater to a wide range of skills and interests, leading to the creation of various different roles. One role that may require an understanding of blockchain technology is a Blockchain Consultant. If you are someone who is a good communicator and is good at giving advice, this is the perfect role for you. A blockchain consultant advises businesses on how to implement blockchain technology. They provide insight on the best practices, strategies, and possible challenges for businesses to ensure optimal performance after implementation. Another role is a blockchain project manager. If you have great leadership and organisational skills, you would be amazing at this role. A blockchain project manager will oversee projects from beginning to end. They will ensure the project stays on track, within budget, and meets the project’s objectives.

What pathways are available to get into blockchain technology?

One pathway available is university. If you would like to get into blockchain, you can get a degree in computer engineering, database management, or information security. Another pathway is online courses and certifications. There are many different courses available that can educate you on blockchain while also providing practical experience. A final pathway is building an understanding of certain skills that can help you progress in the blockchain industry. Some skills include cryptography, smart contracts, programming languages, and data structures. It may also be advantageous to have an understanding of blockchain architecture and design.

Even if you have never heard of blockchain before, I hope this article has given you an understanding of it and will potentially influence some future decisions.