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Blockchain Opportunities Finally Starts at Perk Up Beyond Cryptocurrency

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What does it take to keep up with the blockchain, both from a personal career point of view and to advance the interests of your organization?

From an organizational point of view, they are still the first, early days of the blockchain. People are just starting to explore the potential impact of blockchain and other variations of& Nbsp;distributed ledger technology. & nbsp; A recent one poll For example, 1314 automotive executives from the IBM Institute for Business Value and Oxford Economics estimate that 62 percent of automotive executives believe the blockchain will be a disruptive force in the automotive industry over the next two years. However, the research also finds that only a small percentage of OEMs and suppliers are currently ready for blockchain, or has a greater perception that blockchain solutions are ready for commercial use.

Building on the potential of blockchain.Photo: Joe McKendrick

While Tesla and the emerging automotive software industry based on electrical software are proving, the automotive industry has been ready for the break. There are of course interruptions in vehicles, but another, perhaps a deep disturbance could take place behind the scenes, in operations, thanks to the blockchain. This could presage new ways of operating in all other sectors as well.

Funding, supply chain and mobility services as areas where blockchain could be useful, and in many parts of the world, after-sales distribution and parts have also been seen as a potential application. & Nbsp; "Currently, partial tracing of the entire life cycle of a vehicle is very limited, which means that counterfeit spare parts could be used by service centers in some markets," study authors, Matthew Jones, Dirk Wollschlaeger and Ben Stanley, they say. "The implementation of blockchain-based solutions in the automotive supply chain could solve some of the problems related to recalls, counterfeit products and consumer safety."

Blockchain could also introduce "improvements and operational efficiencies in areas such as financial transactions between ecosystem participants, car access authentication and customer loyalty and loyalty," Jones and his co-authors add. It will also change the way the business is done: 54% of executives expect new business models to influence blockchain investments.

However, it is very early for blockchain. & Nbsp; Only 15 percent of industry executives are actively developing the blockchain. "Many executives lack a general understanding of their organization's blockchain strategies," the IBM co-authors point out. Thirty-nine percent of OEMs and 51 percent of suppliers 'respondents are only slightly aware of their organizations' strategies.

The other aspect of achieving results with distributed blockchain or ledger technology is skills, of which there are not enough. At least 37% of OEMs and 42% of suppliers cite insufficient skills as a concern for the adoption of blockchain-based approaches. As the blockchain is embraced in all sectors, there is a growing need for skilled people to set the technology in motion.

A recent study by & nbsp; LinkedIn puts blockchain skills at the top of their list& Nbsp;jobs in the fastest growing in the last five years. During this time, there was & nbsp;33 times growth in positions linked to the blockchain, surpassing artificial intelligence or machine learning. & Nbsp; & Nbsp;

The best skills in the market at this time include Solidity, Blockchain, Ethereum, Criptovaluta, Node.js. Once again, it is the first time for this skillset and, at this moment, a large part of this demand is concentrated in the technical consulting or related companies that develop the blockchain / diffusion ledger technology, still very much linked to the cryptocurrency .

Executives and professionals seeking to create blockchain functionality must be able to answer the following questions, Jones and IBM researchers recommend:

Where are we experiencing the friction in our company network? "Identify the most interesting use cases by considering which clutches hold you back and constrain significant work capital and resources. & Nbsp; Experience in discrete areas where blockchain attributes determine a rapid impact. & Nbsp; Use design thinking to simplify the user experience and create agile concept tests to guide rapid adoption. "

Can we reach network standards?& Nbsp; "Success in the adoption of the blockchain will depend not on who has the best technology or app, but who can build the strongest network. & Nbsp; Explore the role of alliances and consortia and how profit pools could be redistributed and then decide on your network role. & nbsp; & nbsp; Collaborate broadly to achieve globally accepted standards. "

How can we scale with new revenue models? "As business models get shocked by blockchain, think about how you can make money in new ways, such as consumption-based pricing, licensing, microcredit, and payments. & Nbsp; See how new blockchain-based services and apps can replace or supplement and scale existing revenue models, and experience adhering to emerging online markets for mobility, parts and service. "

There are also emerging specific skills. The types of jobs that require blockchain related skills can be viewed in the following job descriptions, selected from the main job sites:

Blockchain Developer (software development company): "Responsible for the design, implementation and support of a distributed network based on blockchain through various stages of development and production, analyze the requirements, design the blockchain technology around a specific business model, research new technical solutions and protocols, creates and automates blockchain development workflows, implements test-driven development practices, and creates and initiates a blockchain network. "

Blockchain engineer (financial services platform): & nbsp; "It works on creating an underlying blockchain infrastructure, as well as implementations and final products on that infrastructure, and develops a meta-transaction infrastructure via mobile apps. & Nbsp; Develops document signing and # 39; associated infrastructure. & Nbsp; Develop APIs that interface with the blockchain. "

Blockchain platform engineer (health technology company): & nbsp; & nbsp; & nbsp; & nbsp; & quot; Provide experience and development support to blockchain initiatives throughout the company.) Develop competencies in the field on blockchain network platforms, architectures and administrative / operational requirements. nbsp; Design and build back-end blockchain functionality, that is, network infrastructure, consent algorithms, smart contracts, identity authority. "

Blockchain Protocol Architect / Director (nonprofit micro-loan provider): work with governments to "build a blockchain identity and a credit-scoring system to improve financial security." Build a global multi-tenant platform that includes, climbing the world. & nbsp; Collaborate with other distributed systems engineers to develop a highly scalable cloud-based system. Leads thought leadership around Blockchain through the organization and externally to continue developing our engineering brand. "

Software engineer (technology provider): creates networks as a "blockchain for food quality monitoring, used to record and validate claims about quality food production, packaging, transportation and end use." a new generation of high-performance blockchain focused on the optimized execution of smart contracts Develop a crowdfunding blockchain. "

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What does it take to keep up with the blockchain, both from a personal career point of view and to advance the interests of your organization?

From an organizational point of view, they are still the first, early days of the blockchain. People are just starting to explore the potential impact of blockchain and other variations of distributed ledger technology. A recent survey of 1,314 automotive executives from the IBM Institute for Business Value and Oxford Economics, for example, estimates that 62% of automotive executives believe the blockchain will be a disruptive force in the automotive industry in the coming years two years. However, the research also finds that only a small percentage of OEMs and suppliers are currently ready for blockchain, or has a greater perception that blockchain solutions are ready for commercial use.

Building on the potential of blockchain.Photo: Joe McKendrick

While Tesla and the emerging automotive software industry based on electrical software are proving, the automotive industry has been ready for the break. There are of course interruptions in vehicles, but another, perhaps a deep disturbance could take place behind the scenes, in operations, thanks to the blockchain. This could presage new ways of operating in all other sectors as well.

Funding, supply chain and mobility services as top areas where blockchain could be useful, and in many parts of the world, after-sales distribution and parts have also been considered potential applications. "Currently, partial tracing of a vehicle's life cycle is very limited, which means that counterfeit parts could be used by service centers in some markets," study authors Matthew Jones, Dirk Wollschlaeger and Ben Stanley. "The implementation of blockchain-based solutions in the automotive supply chain could solve some of the problems related to recalls, counterfeit products and consumer safety".

Blockchain could also introduce "improvements and operational efficiencies in areas such as financial transactions between participants in the ecosystem, authentication of access to cars and customer experience and loyalty", added Jones and his co-authors. It will also change the way of doing business: 54% of executives expect new business models to influence blockchain investments.

However, it is very early for blockchain. Only 15 percent of industry executives are actively developing the blockchain. "Many executives lack a general understanding of their organization's blockchain strategies," the IBM co-authors point out. Thirty-nine percent of OEMs and 51 percent of suppliers 'respondents are only slightly aware of their organizations' strategies.

The other aspect of achieving results with distributed blockchain or ledger technology is skills, of which there are not enough. At least 37% of OEMs and 42% of suppliers cite insufficient skills as a concern for the adoption of blockchain-based approaches. As the blockchain is embraced in all sectors, there is a growing need for skilled people to set the technology in motion.

A recent LinkedIn study puts blockchain skills at the top of their list of jobs in the fastest growing in the last five years. During this time, there was 33 times growth in positions linked to the blockchain, surpassing artificial intelligence or machine learning.

The best skills in the market at this time include Solidity, Blockchain, Ethereum, Criptovaluta, Node.js. Once again, it is the first time for this skillset and, at this moment, a large part of this demand is concentrated in the technical consulting or related companies that develop the blockchain / diffusion ledger technology, still very much linked to the cryptocurrency .

Executives and professionals seeking to create blockchain functionality must be able to answer the following questions, Jones and IBM researchers recommend:

Where are we experiencing the friction in our company network? "Identify the most interesting use cases by considering which clutches hold you back and tie in resources and significant working capital. Try in discrete areas where blockchain attributes determine a rapid impact." Use design thinking to simplify the problem. user experience and create agile concept tests to drive rapid adoption. "

Can we reach network standards? "Success in the adoption of the blockchain will depend not on who has the best technology or app, but who can build the strongest network, exploring the role of alliances and consortia, and how profit pools could be redistributed and then decide the role of the network to reach globally accepted standards ".

How can we scale with new revenue models? "As business models get shocked by blockchain, think about how you can make money in new ways, like consumption-based pricing, licenses, micro-charges and payments. Find out how new blockchain-based services and apps can replace or integrate and scale existing revenue models, and experiment with the emerging online markets for mobility, parts and service. "

There are also emerging specific skills. The types of jobs that require blockchain related skills can be viewed in the following job descriptions, selected from the main job sites:

Blockchain Developer (software development company): "Responsible for the design, implementation and support of a distributed network based on blockchain through various stages of development and production Analyzing the requirements, designing the blockchain technology around a given business model, research new technical solutions and protocols, create and automate workflows for blockchain development, implement test-driven development practices and build and launch a blockchain network. "

Blockchain engineer (financial services platform): "Working on the creation of an underlying blockchain infrastructure and implementations and final products on that infrastructure Develop around the meta-transaction infrastructure via mobile apps Develop around document signing frameworks and associated infrastructure with the blockchain. "

Blockchain platform engineer (health technology company): "Providing experience and development support for blockchain initiatives across the company Developing expertise on blockchain network platforms, architectures and administrative / operational requirements Designing and building back-end blockchain capabilities, that is, network infrastructure, consent algorithms, smart contracts, identity authority. "

Blockchain Protocol Architect / Director (nonprofit micro-loan provider): works with governments to "create a blockchain identity and a credit-scoring system to improve financial security." Create a global multi-tenant platform that includes scalability worldwide. a highly scalable cloud-based system. Lead the thought leadership around Blockchain through the organization and outside to continue developing our engineering brand ".

Software engineer (technology provider): creates networks as a "food quality monitoring blockchain" used to record and validate claims about quality food production, packaging, transportation and end use Building a new generation of high performance blockchain focused on # 39; Performing Optimized Smart Contracts Develop a crowdfunding blockchain. "

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