How can I land an IT job in banks in next five years? Learn Blockchain!
It was already months ago when I visited a seminar hosted by IBM, a leader in Blockchain technology among a number of IT conglomerates. They were trying to make people understand blockchain and, by doing so, they wanted to make us understand what they do. There are a couple of pointers I learned at the seminar.
They emphasized that some of the information they were telling us would sound far-fetched, but, at the moment you realize that this technology is happening in society, you will already be too late in the game.
First, IBM, working with five major banks in Canada, is building the Blockchain infrastructure between the banks. They are already half-way there! When that becomes realized, all those transfers and bank transactions including e-transfers and wires between banks will be completed within micro-seconds. The challenge here is to make all the formats of GL (General Ledgers) in each bank coherent. (You will learn what it is in the course below) However, when those GLs become coherent, a big change will happen.
Secondly, the world as we know it will be changed (of course in the finance arena first, but in other industry sectors too pretty soon.) In the bank industry alone, IT workforce and general workforce who deal with banking transactions will be reduced to a half or a third, except for the workforce who deals with Blockchain.
Thirdly and lastly, before all the craziness happening above, IBM offers free courses and seminars for IT or non-IT professionals to keep up with the technology.
Not only do they offer education, but the company offers grants to start-up companies who use IBM’s blockchain technology in order to nurture the technology’s growth.
What is the take-away from this post?
This post sounds like I am trying to advertise or oversell a company, I simply want my clients who are in IT to keep up with the latest technology before they fall behind. Now, even Korean banks are shifting to Blockchain (link below)
and the situation will be the same there. Again, all the IT or non-IT workforce other than Blockchain will be reduced to a half. I just got my certification offered by IBM and it was not difficult. IBM said, if you fail it, you have a problem!
Again, the world as we know it (at least banks for now) will not be the same, so be prepared for a change by learning.
Joe H.B. Jo, MFA, BA, CHRP Candidate
Principal Consultant at Branding Academy