Blockchain apps: The ‘cloud’ of the 21st century
Blockchain expertise is the top request among more than 5,000 skills on Upwork, the organization, based in Mountain View, Calif., that matches freelance workers with employers. Demand for blockchain expertise on Upwork surged more than 6,000% year-over-year in the first three months of 2018.
In a recent Gartner study of nearly 300 CIOs of organizations with ongoing blockchain initiatives, 23% of respondents said that blockchain requires the most new skills to implement of any technology area, and another 18% said blockchain skills are the most difficult to find.
Chris Pacialead backend developer, OB1
New York City-based Global Debt Registry (GDR), a fintech provider of asset certainty solutions, adopted the IBM blockchain starter plan to build its collateral pledge registry, which enables lenders to check the collateral positions of the institutional investors to which it lends money. For example, if Goldman Sachs lends money to a hedge fund and that hedge fund pledges a set of assets to them, that fund may also approach JPMorgan Chase & Co. and try to pledge the same set of assets. GDR’s registry would check to see if those assets are double-pledged, said Robert Brown, CTO of Global Debt Registry.
Brown’s team saw blockchain as a good fit because it’s essentially a set of data shared among a group of companies in an ecosystem. GDR, which started with no blockchain expertise, evaluated different blockchain options and selected Hyperledger because it was built from the ground up as a private blockchain. “We have a set of institutional investors and banks, and they don’t want to have their data in the open,” Brown said.
The IBM blockchain starter plan’s tools helped GDR developers build blockchain apps and get up and running quickly on the IBM Cloud, he said.
OB1’s Pacia said he is hopeful for projects like IBM’s starter plan approach but worries if it will be enough to overcome the low number of people with blockchain expertise. “I’ve seen other efforts to kind of like train people and slowly bring them along so that they can contribute at that type of high level. But it does take a high level of training to do this securely,” he said.