Trend Alert: Consulting for Blockchain and Cryptocurrency-Related Projects
If anything reflects a change in consulting trends, then it must be the phenomenal rise in the number of blockchain consulting jobs on the market.
Some of these are crypto consulting, and some are blockchain consulting jobs focused on use cases for business and traditional finance.
Clearly, what was a hype and a fad just a few years ago is becoming a disruptive force for business.
So, this article is for both companies and consultants. Whatever their field of operation, neither can ignore what Deloitte has called the age of digital assets.
Blockchain vs. Cryptocurrency
The association between blockchain and crypto is so strong that it confuses people. For years, people thought that bitcoin and blockchain were the same thing.
Now, the poor understanding seems to be about the application of blockchain in areas that are not crypto.
Cryptocurrency and Blockchain – What’s the Difference?
Simply, cryptocurrency is a form of digital or virtual money. It works like cash that people can exchange directly with each other. It is transferred from one person’s digital wallet to another, regardless of geographic location or local currencies.
The technology behind it is blockchain. It is a virtual accounting system that is like a giant spreadsheet that registers transactions and makes them visible to the public. It also records ownership and changes in ownership of anything of value - like currency, documents, or physical property.
Groups of transactions bundled together into blocks that are linked or chained together in chronological order. Hence the name “blockchain.”
Smart contracts coded into transactions allow for automated responses to pre-agreed contract conditions.
Blockchains For Many Uses
There are many blockchains for different purposes.
- For example, on the Bitcoin blockchain, the asset is bitcoin (BTC). On the Ethereum blockchain, it is ether (ETH).
- Developers can build their own applications (dApps), with their own coins or tokens, on top of major blockchains such as Ethereum, Cardano, Stellar, or EOS.
- Some private or permissioned blockchains are visible only to specific groups of people – for example, a consortium of banks tracking inter-bank transfers. This type of usage is called DLT (distributed ledger technology).
Crypto Consulting Jobs to Support Start-Ups
Many people are setting up businesses to capitalise on the crypto market, and they are looking for a range of consulting support.
Crypto Jobs for IT Consultants
Some of these jobs require IT developer skills and an in-depth understanding of blockchain coding.
Sometimes the need is for hands-on development, and sometimes for advice around the feasibility of the idea, the tokenomics (the way the token works), or even help set up a crypto mining rig.
You also require technical skills for writing whitepapers and for website development.
Crypto Jobs for Marketing Consultants
Marketing consultants will be charged with getting a new project noticed and funded and then maintaining interest in a very crowded marketplace.
They may design fundraising campaigns and prepare whitepapers, brochures, and pitch decks outside of traditional marketing tasks. They may even assist with listing on crypto exchanges.
Crypto Jobs for Other Consultants
Business advisers, digital specialists, and freelance writers can find jobs in this start-up space, provided they are open to learning new technologies and methodologies.
Crypto Consulting Jobs for Trading And Investment
The crypto market is currently worth over $2 trillion, and there are thousands of cryptocurrencies, with prices ranging from around $60,000 per coin (bitcoin) to fractions of a cent each.
All of them have profit potential, and serious investors are taking notice.
Financial consultants are increasingly being asked for their views and strategies about individual cryptos and DeFi, NFTs, crypto index funds, and Central Bank Digital Currencies or CBDCs. These are digital currencies released by countries - the Chinese eYuan is a good example.
Blockchain Kicks Off New Business And Consulting Trends
Businesses may be wondering how to begin their blockchain journey. And consultants will have to be on board, no matter their specialty area - IT, management, strategic, digital, marketing, or financial.
Crypto and blockchain are no longer on the lunatic fringe – they are part of mainstream business.
They are starting new consulting trends and providing thousands of crypto and blockchain consulting jobs.
If you are just starting out, it may be advisable to get expert advice. If you feel a bit at sea, you might consider contacting a specialist blockchain consultant to help you set a course.