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How Blockchain technology is fulfilling emerging market economies?

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Blockchain technology is said to have the potential to disrupt various industries with low-cost transactions & enhanced security.


Blockchain technology is one of the emerging technologies that has been said to have the potential to disrupt many industries with low-cost transactions, immutability, and enhanced security.  This emerging technology is an integral part of how cryptocurrencies work. Blockchain consists of chronological ledgers that record every transaction. In other words, we can say blockchain technology is that one that prevents individuals and groups from making the transaction of their assets that they no longer have.

This latest technology is not just a challenge for mobile app development firms but also a challenge for tech vendors.

Why the shortage existed?

There are various companies that don’t like the idea of cryptocurrency and making use of blockchain in a different way. No matter you are the owner of the mobile app Development Company or something else, without the help of the right people your company can’t make progress.

Check out these reasons why talent shortage has existed –

Fringe Status

Despite of the fact that there are limitless applications of the blockchain and thus no one can deny the fact that blockchain tech has still existed mostly on the fringe. There exist various developers who took it seriously as they didn’t hold it in the same esteem as languages like Python or C++. It is seen that app developers do not want to invest their efforts in a technology that is only useful to niche projects. Instead of this, they want to broaden their skill set and be as practical as possible.

High Costs

There is no doubt in saying that there exist a lot of high skilled and blockchain developers but the problem is that they are quite expensive. It might be possible that they are making a ton of money working on one of the major crypto currencies in circulation. Hence it is becoming extremely difficult for small to midsized companies of hiring blockchain Development Company.

High Stakes

Blockchain developers work with tech products with high stakes. Besides this, they may involve financial transactions or exchange sensitive information. In other words, they will either need to work with security experts or become legal experts in their own right.

Future uncertainty

Everyone thinks about the long-term future and developers are also one of them. Some developers recognize blockchain as a fundamental technology while others think about the flaws inherent in the system. There is no doubt in saying that blockchain works extraordinarily well for a limited number of users especially when you start dealing with millions of transactions happening at once. On the other hand, developers also recognize that blockchain can’t be used for everything and hence it can be replaced with the better ledger-based P2P system.

Why it is coming to end?

Blockchain has proven itself

There are various ways through which you can learn blockchain related skills. In fact, there exist various platforms like Coursera that offers courses in blockchain basics. As the demand is quite high, blockchain community is getting more robust so it is extremely easier to find a recommendation if you are in the market to hire a full-time blockchain developer.

There are more bounty opportunities

If you are new to blockchain then learning blockchain basics is not enough for companies. Generally, the company needs those people who have real, demonstrable experience in resolving blockchain problems or building new systems. There exist various opportunities to earn those credentials in form of bounties. In present times, cryptocurrencies have become vulnerable and more commonly accepted.

Developers see the demand

The highest price tag that is associated with blockchain has drawn the app developers to learn more about the career opportunities in the blockchain. In the past time, investing time and energy in blockchain was a gamble but in present time it is a path to the potential goldmine.

Other Challenges on the horizon

There are various companies that are expert in blockchain and developing new projects. If you want a fast and decentralized platform then definitely it is not going to cheap to develop. All this not only makes the blockchain less maneuverable and even the best problem-solving developers scratch their heads. At some point in time, you have to make a compromise and decide which weakness your system is going to have. There is no doubt in saying that blockchain development services offer a number of advantages and it is decentralized. If you want a fast and decentralized platform then definitely it is not going to cheap. At some point, you have to decide which weakness your system is going to have. For almost every industry, blockchain is a highly promising technology.

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Fluper - Android & iOS App Development Fluper
Category: Mobile App DevelopersCompany about: Fluper Ltd. is an authentic, certified and top rated mobile application design and development company with engineers expertising in native application development, customized applications provisioning end-end 360degree mobile app solutions. We have specilized in Android, iOS, iPad, Tablets and Wearable App Development Services. We have been working in the IT Mobile App Domain and Verticals since 2013 providing following services: #Enterprise Applications: Business, Banking, Finance, Human Reso ...
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