Finding work in Blockchain Space

As Blockchain technology is evolving while infiltrating various sectors to optimise business processes, the career prospects in the Blockchain sphere are excellent. Demand for certified individuals in Blockchain has continued to grow exponentially. The Blockchain related skills are second fastest growing skill out of more than 5000 skills in today’s labour market. On an average Blockchain Developer in the US makes around $158,000 per year compared to general software developers who make $105,000 per year.

Job posts in Blockchain sphere have increased by four times on LinkedIn in 2018, and vacancies are being filled in no time. As great as that sounds for the industry, there are not enough qualified individuals in Blockchain sphere to fill the positions. As far as certified individuals are concerned, currently there is a supply and demand gap in the Blockchain domain. In fact, in the US, a recent study showed that there is only one Blockchain Developer for every 14 jobs advertised.

There are various job roles in Blockchain Technology which are in high demand. Individuals can aim for positions as:

Blockchain Developer

It requires individuals to be good at server side programming and have excellent analytical skills. Understanding the end to end system of a Blockchain application is required. Requires in-depth knowledge of setting up nodes, submitting a Blockchain transaction and triggering Smart Contract functions from a web page.

Blockchain Expert

Blockchain Experts have an in-depth understanding of the Blockchain Technology. It requires knowledge as well as the ability to code for a  Blockchain like Bitcoin, Ethereum networks. As a Blockchain Expert individuals are required to build blockchain-based applications for businesses. Being a Blockchain Expert individuals should have exposure of all the various aspects of Blockchain Technology.

Blockchain Generalist

Individuals are required to have the understanding of the basic concepts and capability to understand, discuss and analyse its use-cases and applications in their ecosystem.

Smart Contract Developer

It requires the understanding of smart contract and excellent programming skills to write code for smart contracts.

A career in Blockchain is quite rewarding for various reasons such as:

Ample opportunities across top MNCs

Top Multinational companies across the globe such as IBM, Microsoft, Intel, JP Morgan Chase are exploring various applications of Blockchain Technology based on the impressive features of this breakthrough technology. These MNCs are recruiting certified Blockchain Developers in large numbers. It is expected that these corporations will require Blockchain professionals in bulk in coming years.

The Hype of Cryptocurrency

Cryptocurrency is quickly gaining acceptance throughout the world. This acceptance of cryptocurrency has led to Bitcoin exchanges and wallets to crop up. The demand for certified individuals in cryptocurrency such as ethereum and bitcoin is soaring.

There are certain prerequisites to start a career in the Blockchain sphere such as :

Get Certified

Getting certified in the Blockchain sphere gives you a competitive edge and wins the trust of companies in your credibility for the job. There are excellent certifications on various specific job roles of Blockchain available online.

Master the platforms, languages and principles of Blockchain systems

For a successful career in Blockchain, one needs to understand technology inside out. Professionals aspiring to work in the Blockchain sphere should gain a deep understanding of Ethereum, Hyperledger, Ripple,  R3 Corda, and hands On experience in the Blockchain programming language. Solidity is also a prerequisite for most of the job roles in the Blockchain sphere.

Develop your skills by taking parts in various Hackathons

Individuals need to develop their skills in Blockchain to be able to have a successful career in Blockchain. Individuals should do projects and contribute to open-sourced Blockchains (Bitcoin) to refine their skills and at the same time showing their competence. Being proactive by Joining discussions within forums and online platforms, sharing code and building on what you already know in development goes a long way when it comes to preparing for a rewarding career in the Blockchain. Individuals should never stop learning and exploring new ideas and implementing them whenever they get a chance.

Conclusion

Blockchain sphere is full of opportunities at this point and the requirement for skilled individuals will only keep on growing. The key to a successful career in Blockchain domain lies in sharpening your skills and updating your knowledge with time. With the right skill set sky’s the limit for you.

What are Records in RecordsKeeper?

What is RecordsKeeper ?

RecordsKeeper is an open source Blockchain platform which is used for publishing and verifying data. It is a secure way of storing data in a key-value pair, over blocks which are connected with each other in a structured manner. This data is available to everyone who has the key corresponding to the data. It is impossible to tamper with any data because each node which is connected to the Blockchain stores the copy of the complete ledger. Records on the RecordsKeeper Blockchain are confirmed by the independent miners who confirms transactions on the ledger.

For getting started with RecordsKeeper Blockchain first you have to generate a public and private key pair by using RecordsKeeper Wallet, these keys are used for uniquely identifying any user on the RecordsKeeper Blockchain. Then you can easily publish any data on this Blockchain with a key that corresponds to the data that you publish on the Blockchain with the help of your private key. This data gets permanently stored on the Blockchain and can’t be tampered later. If anyone wants to retrieve your data, then they can do so by using the key that you have assigned to your data. This will retrieve all the data that is pushed on to the Blockchain corresponding to a particular key.

RecordsKeeper offers a full suite of structured and easily accessible record keeping for organizations and individuals. RecordsKeeper creates a platform for structured storage over the decentralized network for the ease of data access and security between peers. The RecordsKeeper capitalizes over the pros of the Blockchain network to create an ecosystem for secure transfer, authorization, integrity, and authenticity of data. Each peer is an autonomous agent, capable of performing these actions without significant human interaction.

In RecordsKeeper Blockchain one can create multiple streams based on various use cases of Blockchain Technology like Enterprise KYC, Insurance Records Keeping, Corporate Compliances Records Keeping, Supply Chain Management, etc. Each stream is used for a particular purpose in which data is stored on a key-value pair, where a particular key is used in verification of data.

Records In RecordsKeeper

Records in RecordsKeeper are the digital copy of any document, record, transaction, agreement, file, page, image etc. Anything that can be converted into a PDF, JPEG, PNG, ZIP or GIF can be called record.

In RecordsKeeper, an account can have multiple streams and each stream can have zero or more categories associated with each stream. Again these categories can have zero or more records associated with it as shown in the below diagram.

To ensure the smooth delivery of our service, there are certain limits which will be applied to each stream. The maximum size of the file being uploaded to the stream is 2MB per file, if a file size is greater than 2 MB user have to upload the hash of the file instead of file to the RecordsKeeper blockchain.

 

 

Data security on Recordskeeper

Documents or records stored on RecordKeeper are very safe due to Blockchain & Asymmetric Key Cryptography (aka Public-Key Cryptography). This pair (Blockchain & Asymmetric Key Cryptography) help us achieving the 4 major aspects of security with high confidence in lesser cost. While in traditional technology you have to invest a lot to achieve these below 4 aspects of security.:

Also, all 4 major aspects of security can be achieved in RecordsKeeper’s Blockchain

  • Confidentiality.
  • Integrity.
  • Availability.
  • Non-repudiation.

Blockchain: Since Blockchain is a decentralized ledger & store everything immutably, it is highly secured. In short, it means it is very very difficult as well as expensive to forge or modify a transaction and it is extremely easy to detect the inconsistency & forged data/transaction/stored information. So nobody can modify or forge the data stored in Blockchain. Hence Integrity, Availability & Non-repudiation can be achieved with Blockchain easily. But What if someone read my documents? The answer to this question is in Cryptography.

Asymmetric Key Cryptography: It is a method of locking digital documents using two different Keys. Everything you store in Blockchain is locked with your one key (Public-Key) hence It can only be unlocked using your another key which will be in your mind. Until unless you share your passphrase with the hacker, computationally it is impossible to hack/guess the keys & unlock your stored files.

This above set of technology makes your documents unchangeable, incorruptible, undeletable, and unreadable for anyone except you. Isn’t it cool?  🙂

What is The Use Case Large Businesses for Inter-Business Setup?

Inter-Business Blockchain

Let’s say now SBI Bank has implemented our solution in-house to save time & money avoiding redundancy in KYC within the Bank. In addition to that SBI might consider tying up with Kotak for KYC and reducing the cost tremendously. How can it be done? Check below steps:

Step 1: Customer wants to engage with SBI’s one of the department. Let’s say the customer wants to open a savings account in SBI.

Step 2: Customer will share the Kotak’s KYC ID with the SBI.

Step 3: SBI will only verify the Adhar or PAN card of the user & rest of the KYC (Already Verified) will be fetched from the Kotak’s KYC blockchain.

Step 4: Voila! SBI saved time and money in KYC & reduced their turnaround time while giving account access to the customers.

In these use cases, Banks are considered only for examples, the beneficiary of this technology can be any BFSI company, Govt. Department,  or Any private organization looking to have better, state-of-the-art & secure Records keeping solutions. A blockchain-based solution, with its immutable ledger, ease of integration, and considerably lower operational and infrastructure costs, is undeniably a better option as compared to existing registries.