The True Importance of Blockchain

importance of blockchain

Blockchain is a transparent, time-stamped series of unchangeable record of data that is controlled by a series of computer which is not owned by a single entity i.e. it is decentralized. Each of these blocks of data is secure and are connected to each other through cryptographic principles. These attributes have made blockchain the most admiring and promising technology in recent time.

The concept of blockchain is not completed without having clues about vertical and horizontal innovation. Vertical innovation is the idea employed within a specific field while Horizontal innovation is employed by practically all field. For instance, drug is common to the health sector, while the internet is common to all type of fields. The former instance is vertical while the latter is horizontal innovation.


The first decentralized cryptocurrency is bitcoin. This process was powered by blockchain technology. However, the process of blockchain decentralization involves storing records of data in multiple computers running within the network. It owns a copy of all the data in the blockchain. Thus, whenever anything is updated in the blockchain, all the nodes in the network get notified at a time.

Furthermore, the principles of blockchain are really important and applicable in healthcare, supply chain management, finance, real estate, legal, security, and charity industries.


To Keep Up to Date Pace with Modern Tech

If you care to know the reasons why it is important to keep pace with modern tech, you must learn from Kodak. Kodak was known for its impact in the photography industry. Through him the term ‘’ your Kodak moment’’ was coined. Kodak actually fell behind because he failed to see an analog camera as an obsolete technology. He blew the chance of keeping to time by failing to embrace the technology of the digital camera.

In short, Kodak quest for expansion of film camera industry failed and unfortunately, he went bankrupt.

Upcoming Interoperability

In layman’s terms, interoperability is the process that permits interaction among various block chains and legacy companies. Blockchains like Cardano, ICON, AION are best for achieving interoperability.

However, the process of interoperability helps companies to incorporate and interact with blockchain companies. This process has greatly increased the demand for people with blockchain knowledge.

Upskilling vs Hiring

Report by Mckinsey global institute settled the bone of contention that surrounds the comparison between upskilling and hiring. According to this report, 18 % of the companies around the world feel that hiring is the way forward while close to 41 % feel that upskilling their employee is the way forward.

In sum, changes from one occupation to the other so as to embrace digitization, automation, and advances in artificial intelligence as triggered so many companies to prioritizing upskilling their existing workforce over hiring a new one.


The demand for blockchain job has risen over the year owing to how the lucrative the job is.  This has increased the number of people seeking to acquire knowledge.

In this section, we will educate you on the reasons why you should educate yourself on the blockchain tech.

Lots of Money in The Space

According to, the pay given for technical and non-technical roles in blockchain companies are extremely attractive and also with remarkable incentive.

Remote Flexibility

On a good day, remote jobs are meritorious for both employee and employers. According to a report by CNBC, more than two-thirds of people around the world prefer working away from the office at least once a week.

Remote jobs because it requires little or no stress has caused a lot of people wanting to secure the job. Blockchain is a type of remote job that is known for its legacy of working from home for employees.

Employee Liquidity

In blockchain companies, employees usually get token which acts as an equity-like compensation. These tokens, unlike share, are inherent liquidity.

Being Part of Something Revolutionary

No doubt blockchain technology is revolutionary. The system is decentralized and transparent which make it the recent revolutionary system.


If you want to obtain a degree in blockchain, you can enroll with any of the following educational institutes.

  • Stanford University
  • Duke University
  • MIT, and
  • Others