In a world that is evolving faster and faster, acquiring new skills is essential in order not to lose track. Many companies are targeting the blockchain. The technology offers opportunities for the development of new business models, which means that the demand for skills on the labor market is increasing rapidly. Retraining, therefore, is the message if your business wants to gain a serious edge over the competition. Both in IT and in other areas of the company.

Blockchain has a lot of potential in most areas, just like AI and certainly in combination. The technology is revolutionizing the way we handle and share data. Thanks to the decentralized and distributed ledger system, such processes can not only be handled more securely, but also more transparently and with more trust. Globally, the blockchain industry is growing at an average of 67% annually. Approximately 300 new companies enter the market each year, while nearly 2,000 companies integrate Web3 technology into their business strategies.

The numbers show that the world is starting to see the potential of blockchain and is no longer considering cryptocurrencies just as an application of blockchain. Therefore, it is not surprising that the demand for blockchain-related skills is increasing everywhere and there is an acute shortage of skilled workers on the job market. To make up for this deficiency, we need to train the current employees. And we shouldn’t fixate on IT experts.

Not just for techies

While it might seem logical to think of blockchain as a technological concept, its impact extends far beyond a company’s IT department. Blockchain can lead to completely new business models, support multiple departments and the ecosystem of companies. Different teams are therefore made up of professionals who can contribute with their specific background. From designing smart contracts in the legal department to promoting secure transactions in the finance department.

So don’t just focus on people with IT skills, take a multidisciplinary approach and encourage people in other teams to take training and get started with blockchain.

A learning process without end

Don’t make blockchain training too theoretical. The programs should be hands-on as much as possible so that participants see the potential of the technology for the company. Keep it simple and work with cases that demonstrate the added value of blockchain in realistic scenarios. Don’t limit such a program to a single workout. Blockchain is a relatively new technology that is constantly changing and new applications appear regularly. Therefore, maintaining blockchain knowledge should be an ongoing process.

Since blockchain is a leap into the unknown for most employees, it pays to work with mentors. Such a mentor is the ideal person to take away fear and uncertainty, making people more willing to experiment with the technology. Moreover, such a process works in two directions. The youngest talents, who often take blockchain for granted, can help older colleagues expand their knowledge. And these older colleagues, in turn, can use their valuable experience to help young people better understand the business and customers.

Keep experienced talent on board

Gaining blockchain skills has nothing but benefits for both employees and organizations. On the one hand, it ensures that specialists remain relevant and can be used optimally. They can upgrade their skills to better serve customer needs. On the other hand, the focus on reskilling and blockchain is beneficial for companies to keep experienced talent on board longer. In the case of complex projects in particular, it is an advantage if you can fall back on experienced professionals with customer and organizational knowledge.

Of course, the focus on blockchain capabilities also brings challenges. For example, there is not much knowledge on the market to offer practical training. And due to the lack of profiles, companies are willing to offer high salaries, requiring companies to employ creative techniques to keep their blockchain talents on board. Another reason to focus on retraining and creating an educational work environment that makes everyone feel motivated.

This is a contribution by Frederik De Breuck, Head of Enterprise Blockchain and Innovation at Fujitsu Global – Uvance, CDO/CTO of Fujitsu Belgium. Click here for more information about the company.