The EU needs to take immediate steps in developing blockchain courses in order to be a leader in this sector. It is important to focus on education in order to prepare specialists in this field.

Blockchain technology has already changed the world in terms of financial exchange and the rise of cryptocurrencies. The majority of people learned about it because of bitcoin, but it has been revolutionising not only in terms of money transactions.

It is valuable because it brings decentralisation, transparency, and security to any information stored in the digital ledger.

The Demand for Blockchain Professionals is growing

In 2018 LinkedIn published an annual report on the job market and the leading skills and specialisations that are in high demand now. The top emerging job of 2018 is blockchain developer, with a 33x growth. In fact, this position is requested almost as often as AI specialists.

The demand for professionals in this field is also demonstrated by the salaries that are offered. According to CNBC and Hired, blockchain engineers are making between $150,000 and $175,000 a year. It is comparable with engineers working with artificial intelligence. High salaries are understandable as the workforce market is dramatically lacking blockchain specialists. The biggest companies, such as Facebook, Amazon, and Microsoft are ready to hire and use this technology for their profit.

And there are few educational possibilities offered for people who want to succeed in this sphere. This gap between demand and offer is one of the biggest in recent times and shows an imbalance in the market. It means that many possibilities will rise promptly and it is better to be on top of this wave.

Blockchain technology can change the internet as we see it today because it can be used not only for digital currencies but almost in any field or industry. It is going to revolutionise education, so the EU educational system needs to be prepared.

Other Countries Already Offer Blockchain Courses

It seems now that the EU is far behind other countries in terms of education in this field of knowledge. The first ones to lead were the US universities that offered courses and educational programs. For example, the New York State University offers blockchain majors.

In January 2019, the University of California, Los Angeles started its first accredited blockchain course for students majoring in computer and electrical engineering as well as computer science majors. The course has been filled with students just several days after the announcement. Nowadays, the top universities, who offer similar courses and programs, are all located in the US. By contrast, the EU has little to propose, even though professionals are needed globally.

However, the US is not the only option, the University of Tokyo has launched a blockchain course too. And, most recently, China has claimed their willingness to lead the industry. The country’s President Xi Jinping has stated that China should focus on development and investment in this field.

The change has already started and lots of higher academic institutions want to be ready for it. However, the EU academic system is yet to make a move and provide opportunities to new specialists as well as fulfill the market’s request.

It is the Only Way to lead the industry

“Education’s purpose is to prepare people for the current workforce conditions. It should give the knowledge applicable in the modern world and ignoring the changes that blockchain brings is not productive. Higher education also should answer the public demand in terms of qualified personnel of any kind. It is important to provide courses and majors that ensure job opportunities and help to lead the industry. It is hard to imagine that a computer science degree can be considered complete without any course on this matter. In a way, it is a necessity now.” – says Dr. Hasnain Rizvi CCO and education specialist at WritingMetier.

There is a lack of research possibilities and institutions that can make a breakthrough in this field. It is essential to take further steps and update computer sciences’ educational programs to the current state of affairs. Otherwise, the EU academic system might end up far behind global progress. It is crucial to create opportunities for new specialists, their professional growth as well as introduce changes in the digital technologies of today.