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Blockchain technology is a rapidly growing market that will significantly impact skills development and workforce requirements. This article explores blockchain’s evolution in global markets and career paths, as well as its core principles of decentralisation, transparency, and consensus that promise to transform industries and empower communities through secure, democratized data systems.
Global blockchain technology predictions
Blockchain has the potential to improve industries such as finance, supply chains, and healthcare. Thi sis because it facilitates transaction speed, monitoring, and data privacy. The previous forecast suggested that the blockchain market was expected to reach over 39 billion USD by 2025.
Predictions about global blockchain technology suggest that the blockchain market is set for significant expansion. Estimates range between a 41% USD raise to over 90% USD by 2030. The cause of this potential growth might be the gradual adoption of blockchain solutions by various industries.
According to research, the global blockchain technology market size will extend to around USD 2,334.46 billion by 2032. Worldwide spending on blockchain was estimated to grow and reach about $19 billion by 2024. The blockchain market in Europe is expected to grow from US$1,234.08 million in 2021 to US$59,142.33 million by 2028.
A recent forecast on the blockchain technology market projects it to reach USD 1,431.54 billion by 2030 and potentially reach trillions of dollars within the next ten years. According to this research, North America holds about 40-46% of the market share, and Asia-Pacific forecasts the fastest growth rates in blockchain adoption.
The EU blockchain market’s growth is facilitated by the European regulatory framework, specifically the Markets in Crypto-Assets (MiCA) regulation. Another growth factor is the EU public authorities’ commitment to adopting blockchain for energy trading, carbon credit tracking, logistics, and public services. In the UK, blockchain adoption is driven by fintech applications such as digital asset trading and decentralised finance (DeFi).
Blockchain technology – transparency and lower costs
The blockchain tech can ensure that data stored within the distributed ledger (DLT) stays safe and is resistant to unauthorised modifications through cryptographic hashing and encryption. Blockchain technical solutions rely on shared consent, data transparency, and the safety of sensitive data. Therefore, less oversight means that verification by an authority is not required.
Blockchain is based on a peer-to-peer (P2P) network and was initially created to solve the double-spending problem. Overall, it is a distributed ledger, where transactions are recorded in blocks of data chained together in a dependable way.
To integrate new input, it is necessary to validate, save and store it and ultimately convert the input into output for the next block. One new record is the input data in a network composed of a myriad of machines. The new record or input stirs a request for acceptance and validation from at least some members of the network, or all in the case of the Bitcoin platform.
Third parties involved are eliminated, thus saving time and costs for the business. Blockchain participants have access to a shared ledger. Without intermediaries, companies benefit from transparency, lower costs and less time on operations.
Potential for improvement in different industries
Blockchain technology has the potential to improve a lot of industries. Retail, AI, IoT, agriculture, oil and gas, manufacturing, and cybersecurity are just a part of them. Here are some advantages of using the blockchain system in BFSI, supply chains and healthcare:
- Increased transaction speed and lower fees
In financial services and insurance, blockchain settles digital payments, investments, capital raising, assets, cryptocurrencies, NFTs, and transactions within seconds while reducing banking transfer fees. Blockchain makes these accessible, user-friendly and a solution to the traditional financial system. The EU has already created a strategy to integrate digitalised finance.
- Better product monitoring
In supply chain management, companies are increasingly adopting blockchain technology to enhance operational efficiency. This technology enables real-time tracking of product locations throughout the delivery process, ensuring complete product traceability and confirming authenticity.
- Maintain regulatory compliance and data privacy
The blockchain market in healthcare is expected to grow from USD 2.37 billion in 2023 to USD 19.52 billion by 2028. Blockchain technologies can help manage patient records or laboratory clinical trial data. At the same time, it can maintain regulatory compliance, data security and privacy protection.
Career Paths in Blockchain
Despite the strong overall decline of the blockchain market in 2023, the global job market is increasing in Europe. According to a 2025 job report, blockchain jobs with a 25-30% annual growth rate, and blockchain could reach 500,000 jobs by 2028. Cross-industry expansion into sectors like logistics, healthcare, and energy will accelerate hiring demand.
If blockchain is a career path you want to follow, then it might be better to choose a programming language you are comfortable with. Different blockchains support different languages. Among the programming languages used in blockchain are: Solidity, JavaScript, TypeScript, Python, Rust, Java and Go.
Core blockchain concepts are related to distributed ledgers, cryptography, transactions, nodes, consensus mechanisms, mining, validation protocols and writing smart contracts. There are several career paths available in blockchain, reflecting the diverse needs of a blockchain platform. The most common tech jobs are:
- Blockchain Engineer,
- Blockchain Architect,
- Security Blockchain Engineer,
- Blockchain Developer,
- Data Scientist,
- Quality Engineer,
- Business Development Manager, and
- Graphic Designer or Illustrator.
General knowledge of blockchain is necessary, and more free courses are available on Udemy or EdX. Besides MOOC courses and universities, other options are Blockchain certifications on different blockchain platforms or boot camp programs related to FinTech and cryptocurrency markets that might come with career options. Platform-specific career paths provide credentials that demonstrate blockchain expertise. However, these credentials only cover their specific platform network technologies.
Unchangeable, secured and owner-controlled data structure
The declared scope of blockchain technology is to create an unchangeable, secure and owner-controlled data system. Blockchain has incredible applications, starting with our personal finances to the neurosciences. We are already assigning blockchain systems human values and ethics, like transparency and consensus.
We are naturally drawn to blockchain tech because of the promise of a more secure system. Another reason to agree with the general adoption of blockchain is that transparency and consensus principles can help secure and maintain our idealistic democratic communities.
Lately, blockchain has gained more and more acceptance, especially within financial services. It’s perceived as a potential investment instrument for the traditional financial system. It has already created new opportunities for decentralised applications and reshaped the financial environment through digital assets, tokenisation and digital currencies.
Decentralisation, Transparency, and Consensus
The idea seems simple: creating a chain of immutable blocks distributed among people, collectively validating and securing the network and making it decentralised. And most of all, having trust and transparency as the main ideals.
Blockchain technology is generating a decentralised system based on transparency, security, and consensus. And as it continues to evolve, it has a real potential to radically change various industries like data sharing, supply chain, healthcare, etc.
Technologies used in blockchain, like consensus algorithms and smart contracts, generate an overall enthusiasm. The decentralised nature of blockchain makes people dream of an equal, transparent and consensual technology with the potential to create progress and safeguard our freedoms.
In our history, decentralisation has always been a modality to empower people and help them act with autonomy. That is why we are entitled to consider this technology as real progress within our communities. Still, we might need to remember that we are only humans and our idealism and emotions can overtake reason.
It will take time and patience for the market to become stable and mature and to have sustainable results. After all, these new technologies were created by computer scientists to solve our earthly problems, and it seems that they have great chances to do so.
