Blockchain Cross-border Transactions to Reach 1.3 Billion by 2020

New research by Juniper Research – an UK specialist in identifying and appraising new high growth market sectors within the digital ecosystem found that the number of cross-border transactions recorded on the blockchain will surge to 1.3 billion by 2023, a Compound Annual Growth Rate (CAGR) of 82 per cent over the next 4 years. The value of transactions recorded on the blockchain will thus reach an unprecedented $3.4 trillion; a CAGR of 87 per cent over the next 5 years.  

Juniper’s new research, Blockchain for Financial Services: Opportunities, Challenges & Forecasts 2019-2030, argues that blockchain will become critical for financial institutions aiming to improve their bottom line. Juniper anticipates that banks stand to save close to $27 billion a year by 2030 through blockchain implementation.

To adapt the significant development of Blockchain, the demand for people with Blockchain skills is high. Due to its many fields of application, it is looking to hire those who have skills set to navigate this new technology.

As demand for blockchain developers surges, the available talent lags behind. This has not only led to frustration on the part of companies looking to integrate blockchain-focused solutions but also increasingly high rates to acquire blockchain developers. According to Paysa, the average blockchain developer salary in the U.S. is USD 95,545 with top earners receiving an average salary of roughly USD 140,000. This places blockchain developers among some of the highest paid developers out of any professional field.

While the opportunity for developers to make a significant salary is there, the gap between talent demand and supply is still substantial. According to Forbes, more formal educational material and services have also emerged among some of the top universities including FPT University curriculum. These educational initiatives provide developers, and even non-developers, the opportunity to take comprehensive courses on the complicated concepts of the underlying technology as well as how to become professional developers in the field.

Bridging the educational gap for both developers and non-developers is vital to overcoming the current shortage of blockchain development in the market. While education is often enough to get professionals started, connecting them to adequate resources and opportunities is also a significant part of meeting the demand for blockchain developers. 

Programs such as xSeries of FPT University Online (FUNIX) afford students the opportunity to connect with professionals and drive awareness of the growing field. 

xSeries is FUNiX’s intensive technology certification that the information technology market in need of. These programs help learners gain the necessary knowledge and skills to participate in real projects such as application development for cars, blockchain in financial transactions, Data Science, Machine Learning, etc.

The special feature of xSeries is learning through real projects with direct instruction from experts as well as online learning with global learning resources.

In terms of training time, FUNiX courses in xSeries such as Blockchain, Automotive, Machine Learning and Data Science are expected to last around 6-7 months. However, learners can shorten their study time if they invest more time. 

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If you’re interested in these courses, don’t hesitate to send an email to Ms. Khanh Huyen- huyenpk@fe.edu.vn for more information.