What is blockchain?
Blockchain technology is a group (of people or companies) that shares a common record with tamper-proof properties. This shared record automatically reconciles according to an agreed-upon set of rules. Assuming the group is governed to discourage collusion, a blockchain as a system results in a permanent digital “paper trail”. Bitcoin is only one very specific application of blockchain technology. Imagine the possibilities that this technology can do for business, government, and social good!
The world is increasingly online, and this paradigm shift will be accelerated in the aftermath of the COVID-19 pandemic. Data is the new oil and identity is the new money. The last decade saw lots of development on the information superhighway, but this decade will see a crackdown on bad drivers. Privacy is in the spotlight now, due to the Facebook scandal and the implementation of GDPR. The next frontier is data verifiability, where blockchain is a fundamental part of the ecosystem.
With the decentralization of training and organization to the national level worldwide this year, the first generations of certified and compliant blockchain professionals in many countries will trace their inception to IBCOL 2020. Many of these students will build the foundations of the trust economy in their countries. In due time, this community will catalyst the cross-border solutions to problems postulated by the UN SDG and other non-profit organizations.
As a technology of trust, blockchain will generate 3.1 billion USD in value across all industry verticals. Countries across the world are directly and implicitly forming national development strategies around blockchain. There is already a lack of qualified blockchain professionals around the world today.
When students of today graduate a few years from now, there will be even more job opportunities in blockchain. As students and graduates seek the hottest jobs and employers fight over the best talent, the next ten years will resemble the internet boom in the 1990s.