October 18, 2022

Why Blockchain and Web3 Jobs are the Foundation of the Future Global Economy (Part 1)

Web3-Why-Blockchain-Web3-Jobs-Foundation-of-Future-Global-Economy

In this two-part series, we will discuss blockchain & Web3 jobs and how they will drive the global economy in the future.

In Part 1, we will go over the basic concepts and look at Indonesia’s blockchain market, particularly where EMURGO Indonesia also offers blockchain education courses.

Part 2 will be posted soon so follow EMURGO’s Twitter to receive the latest updates including blog posts.

What are the blockchain and Web3 industries?

According to LinkedIn, blockchain-related and Web3 jobs increased by 400% from 2020 to 2021 and were the most in-demand jobs determined by open job listings within the tech industry.

So what are blockchain and Web3 and why is it so popular?

Blockchain refers to the technology underpinning cryptocurrencies or digital assets such as Bitcoin, Cardano, and others. It’s simply a software protocol for sharing a distributed database among participating computer servers. This database holds transaction records and other data that anybody can access and view in real-time similar to a Google search engine. This type of technology can also issue digital assets according to the specific programmed conditions of its protocol. These digital assets can then transfer financial value from one party to another, act as incentives to secure its protocol, and much more. Blockchain introduced the idea of decentralization where many of today’s popular applications and businesses would be able to run without a centralized party in control. Blockchains, however, can also be programmed to be centralized for enterprise use cases.

Web3 is another related term referring to the big picture of using mainly decentralized blockchain technology to power a decentralized Internet whereby users adopt decentralized applications for their everyday activities (i.e. creating content to be hosted on decentralized servers; sending payments across using cryptocurrencies and crypto wallets; possessing digital property as NFTs; etc.) Decentralized blockchains and cryptocurrencies are just a couple of the many sectors comprising Web3.

What is the state of blockchain and Web3 in Indonesia today?

Indonesia is the world’s fourth most populous nation with approximately 275 million people and the largest economy in Southeast Asia. Indonesia has a fast-growing economy with nearly a quarter of the population of young people aged 10 to 24. 

According to the Indonesian Central Securities Depository, “Indonesian portfolio investor numbers grew at a five-year high in 2021 as housebound millennials and Generation Zers flocked to the market, facilitated by fintech apps” and that “number of single investor identities reached 7.35 million” in 2021.

This portrays a blockchain, Web3, and crypto market adoption share of approximately 3% of Indonesia’s total population, meaning there is an enormous potential for industry expansion as the future grows more digital.

The Indonesian government regulates 25 domestic crypto exchanges via Indonesia’s Commodity Futures Trading Regulatory Agency, known as Bappebti, but also supports the usage of blockchain as a lucrative solutions technology by the private sector. The government has advocated a sandbox approach to blockchain experimentation by setting up the Batam Digital Economic Zone where global blockchain solutions providers can enjoy an investor-friendly environment with a developed business infrastructure.

In August 2022, Indonesia’s largest tech company GoTo Gojek Tokopedia (GOTO) also joined the blockchain and Web3 industry by acquiring a local crypto exchange, signaling a trend toward blockchain industry expansion.

Education is the key to building the Web3 and blockchain talent pool

With a booming demand for blockchain-related jobs and career opportunities that are increasing year-over-year, the supply of talented candidates has not been able to keep up with its pace.

Since technology adoption is usually based upon network effects, as these solutions find product-market fit, the industry as a whole will grow exponentially.

Companies such as EMURGO, a founding entity of Cardano blockchain – one of the largest blockchain networks by market capitalization and on the largest environmentally friendly blockchains – are helping to meet this demand today through its education arm, EMURGO Academy. EMURGO Academy focuses on training the next generation of blockchain developers and professionals to empower their lives with new career opportunities working in Web3 and the blockchain industry. With or without IT skills, everyone can learn about blockchain with EMURGO Academy.

If you are interested in learning about blockchain or want to become a Cardano developer, sign up now with EMURGO Academy

EMURGO Academy currently operates online courses globally and has trained over 2,500 certified learners to date from more than 21 countries around the world.

EMURGO Academy currently offers six different online blockchain courses carefully curated for all student types, including ones with technical and non-technical backgrounds.

For those with non-technical backgrounds, EMURGO Academy offers Foundations of Blockchain (click above) which covers all the basics.

For those with a technical background and taking a developer course, all students will be able to develop applications on the Cardano blockchain. 

For those taking a business course, students will be taught everything needed to upskill their professional careers.

EMURGO Academy’s courses are taught online and can be adjusted to meet the scheduling needs of working professionals. 

For more direct questions, please email education@emurgo.io

About EMURGO Academy

About EMURGO

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