Blockchain is a new and fascinating innovation. In essence, blockchain is essentially a series of data blocks linked together, hence the ‘chain’ in its name. Most famously, it’s the technology used to support cryptocurrencies like Bitcoin, Ethereum and Dogecoin. However, blockchain is now used in a wide range of other areas, including finance, retail, banking and more.
With its steady growth, the future of blockchain is looking incredibly exciting – so much so that you may want to become involved yourself! Here are some of the most interesting blockchain careers available in Australia and what you need to study to land them.
Cryptocurrency is a fast-growing industry in Australia, meaning there are plenty of employment opportunities for new graduates. As more people continue to invest in cryptocurrency in Australia, startups and established companies alike are leveraging this boom.
As you’ll see, study requirements vary between roles. As a starting point, explore the best cryptocurrency courses in Australia.
Cryptocurrency brokers and traders
Cryptocurrency brokers in Australia are responsible for buying and selling cryptocurrency. This means they need to have their eye on the stock market, which is where cryptocurrency stocks are bought and sold. They also need to keep abreast of cryptocurrency news in Australia to remain informed of important industry updates.
Trading and brokering is an excellent career choice for someone who likes a fast-paced, ever-changing environment. Salaries for digital traders and brokers vary between companies but are often above AU$100,000.
Software or blockchain developer/engineer
Software developers work on coding and technical support, including system diagnostics and digital security. Some blockchain engineers also develop the software for cryptocurrency mining in Australia.
Software developers must have at least a bachelor’s degree in computer science, software engineering or another relevant field. Salaries for software developers are competitive, particularly in blockchain-focused startups. Depending on your experience level, you can expect to earn anywhere from AU$60,000 – AU$150,000.
The blockchain impact on accounting is still relatively new; however, to date, it has shown the potential to cause significant transformation in the financial sector.
For instance, because blockchain is a decentralised ledger of transactions, ledger keeping by accountants could become redundant. According to Deloitte, accountants are beginning to use blockchain technology to make certain aspects of their jobs more manageable and less time-consuming.
Accountants generally require at least a bachelor degree in accounting or a related field. They can expect to earn roughly AU$80,000, though salaries vary depending on experience level.
Finance managers monitor companies’ finances, offer investment advice and provide forecast reports of the business’ future financial position. As blockchain becomes more widespread and more companies invest in cryptocurrency, finance managers play a key role in these sectors. For instance, they must assess blockchain transactions and protocols, while also making recommendations for cryptocurrency investment strategies.
Finance managers typically need a university degree in business, commerce or accounting. They can expect to earn an average of slightly over AU$100,000 per year.
Cryptocurrency is drastically changing the way we bank. In response, financial institutions are adapting to these innovations. To help them do so, they need employees who understand the future of blockchain technology and cryptocurrency.
Financial investment manager
Financial investment managers offer strategic advice to clients on where and how they should invest. Given the fact that more people invest in cryptocurrency in Australia now than ever before, people in these roles need to understand the logistics of blockchain and cryptocurrency investments.
You typically need a formal qualification in finance, accounting, commerce or economics to work in this role. University and VET courses are both common study pathways. Financial investment managers tend to earn approximately AU$120,000 a year.
Commonwealth Bank of Australia, one of Australia’s big four banks, recently announced that it would offer customers the ability to buy cryptocurrency and hold it in their bank accounts. Other banks may follow suit, which means bank workers will need to educate themselves on cryptocurrency to provide sound advice to customers.
To be a bank worker, you usually do not need any formal qualification; however, you may need one if you plan to move into a more senior role within the bank. Bank workers typically earn around AU$60,000 per year.
You may be surprised to learn that there are several blockchain applications in the public sector.
For instance, the Australian Government has announced that there will be changes to how tax laws and regulations apply to cryptocurrencies. Public servants must effectively communicate these changes with the public and develop enforcement strategies.
Communications officers are responsible for distributing information internally (i.e. within their organisation) and externally (i.e., to the public). As blockchain transforms the public sector, communications officers will be integral in communicating the latest cryptocurrency news in Australia.
To excel as a communications officer, you must have excellent written English language skills. Typically, you will need a formal qualification (diploma or bachelor degree at minimum) in communications, public relations or another relevant field. You can expect to earn roughly AU$70,000 as a communications officer in the public sector.
Policy officers supply timely and strategic advice aimed at influencing policy decisions, including those pertaining to blockchain technology and cryptocurrency. Policy officers must therefore have a thorough understanding of how these sectors operate and intersect with other industries.
As is the case with most government roles, you will need at least a bachelor’s degree to work as a policy officer. Depending on the policy area, you may need a degree in a specific field. Policy officers typically earn around AU$70,000 a year.
These are just a few examples of the exciting careers that await you in the blockchain industry. As more sectors continue to experiment with this technology, you’ll find plenty of opportunities to apply your blockchain knowledge.