Bitcoin, the highly controversial cryptocurrency, has created a wave throughout tech. It not only sparked the ‘alternative money’ movement (which brought us things like Dogecoin), it also introduced blockchain technology to a wide audience.
For many tech pros, cryptocurrency and blockchain means jobs. A recent study shows most companies are either investing in blockchain now, or are preparing to weave the tech through their stack. HTC just announced plans for a ‘blockchain phone,’ with a decentralized app ecosystem.
Like cryptocurrency itself, blockchain jobs fluctuate wildly. At Dice, we have discovered blockchain job postings ride the same wave as Bitcoin valuation; when the value goes up, so do the number of companies looking for tech pros skilled in blockchain. A month ago, the cryptocurrency was hovering at $7,000 per coin; Today, it’s at $8,300.
Some companies even pivot to make blockchain synonymous with their brand. Recently, ‘Long Island Iced Tea Corp’ renamed itself ‘Long Blockchain Corp.’ Initially, it saw a huge revenue boost. It’s now in free-fall; a stock valuation of $9.49 just after the name change has dipped to 49 cents today.
Apart from job postings and the roller-coaster of cryptocurrency valuations, tech pros are more closely examining the possibilities of blockchain. As a decentralized, distributed database, blockchain requires that several trusted machines ‘sign’ transactions (or “blocks”) before they’re completed. It’s seen as potentially secure enough not only for cryptocurrency, but also things like online contracts.
But the blockchain is not fail-safe. Mt. Gox, a major cryptocurrency trading platform, was reduced to rubble by hackers in 2014. Since then, several other cryptocurrency platforms have been hacked. If blockchain is more secure, how is it being hacked so often?
This is an issue that security-minded tech pros are currently tackling – while still investing in cryptocurrency, or even launching their own.
But we want to know your thoughts. Is cryptocurrency (such as Bitcoin) really the future of money? Is cryptocurrency just a proof-of-concept for blockchain? Does it all seem like BS to you?
Let us know in the survey below. Once we have a good sampling of responses from readers, we’ll be publishing the results, as always. Now’s your chance to be heard about cryptocurrency and blockchain!