Education is the backbone of the modern world and virtually every facet of life depending on the creation of a well-educated workforce to keep it going. Whenever a new industry emerges, one of the most important tasks at hand is the creation of an adequate educational system that will train their workforce to fill up the roles within the growing economy.
This was the case with the internet, social media and is now being replicated with the crypto industry as many universities and educational institutions around the world are offering training for blockchain and cryptocurrency-related careers. Now, Ken Weber, who is the head of social impact at Ripple, has stated that universities around the world must improve on these efforts to offer block to the digital assets training courses that will bring a workforce to the industry.
Training the Next Crypto Workforce
This issue was addressed during an interview with OpenAccessGovernment from August 20, 2019, when Weber stated that there was a lack of qualified blockchain workforce as well as the educational resources that will create the workforce. It was also touched on that there has been a 517% increase in the demand for software engineers that have blockchain development skills in the last year but the demand is far outweighing supply. It should also be noted that in 2018, LinkedIn stated that blockchain developer was one of the most searched careers for the entire year and with cryptocurrency being used across the globe, this demand is only going to rise in the next few years especially as large corporations are getting into cryptocurrency and will need expertise.
“A large part of the issue is that companies need two types of blockchain professionals. Firstly, they need engineers who possess a deep understanding of the technologies and can implement changes immediately. Secondly, they need to fill non-technical roles with senior employees who can make decisions involving the application of blockchain to business objectives. To do this, however, these employees need a working knowledge of the technology. The industry has a well-documented, yet growing skills gap that must be fixed,” he said.
So far, 40 percent of the top 50 universities in the world offer some sort of blockchain or crypto class but these are tied to other disciplines and Weber feels that the solution to this problem is to offer courses that are stand-alone and relate to roles in the industry. Weber also suggested that companies in the industry should partner with academic institutions in the world to increase these efforts and only 38 percent of them are currently doing this.