Is Blockchain Technology for Me?

When you set out to get a college degree, your goal is to make it count. But how can you accomplish this? The answer is to choose a pathway that offers the greatest gains for your future. Take the online Master’s in Global Business with Blockchain Technology Degree program. Whether you are currently in the business or IT field, this degree offers you a strong potential for career growth.

What Is Blockchain Technology?

Blockchain technology offers a way to carry out transactions securely and anonymously. At University of the Cumberlands, we like to think of blockchain technology as a spreadsheet in the cloud. It’s an open digital ledger that verifies transactional information. A blockchain features data records that are time-stamped and bound with other blocks of data using cryptography.

While it is a completely open network, meaning that any person or business can use this shared and immutable ledger, the data is democratized to ensure all parties are held accountable for any actions made using the digital ledger. While the data can be altered in real-time, no one can alter the information previously recorded in the blockchain, which ensures the systems validity and security.

Examples of Blockchain Technology

A good example of blockchain in action is in the transportation sector. Forbes reports that the trucking industry will soon use blockchain to transmit documents, such as bills of lading or invoices. These documents could then be shared among shipping customers, truck drivers, third-party logistics providers, and the Department of Transportation using the blockchain for the ultimate in security and trust.

Everyone has access to the information they need as it’s stored in the blockchain. Yet no one can make changes or deletions of data without all parties seeing this change take place. This emerging technology also protects the information from being accessed by anyone who does not have a key to the data specific blockchain, protecting against hackers and cyber threats, which are a growing concern in terms of cyber security for the transportation industry.

Blockchain Technology Job Duties 

As a business professional working in an office or managerial position, you are typically responsible for handling administrative operations. So how can you apply blockchain technology to your daily job duties? Start with automating your back-office tasks. Paperwork, filing, invoicing…those daily tasks that take up a lot of time and require menial labor can be reduced with blockchain. This technology can be used to create a platform where all documents are digitally stored and saved.

Blockchain can also be used to approve smart contracts, as well as smart contacts. By storing both contracts and customer contact information in the blockchain, businesses have secure access to this information. For example, had the farm information been recorded for the latest spinach/salmonella outbreak, the affected farm could have been identified much sooner, resulting in consumers being more confident in what they are buying.  Walmart has recognized the need for this technology to improve food safety and is requiring all of its vegetable suppliers to use blockchain technology starting in September of 2019.

Blockchain Technology's Impact on Freelance I.T. Careers

In the IT department, the idea of using blockchain is a natural fit. After all, blockchain is based on digitized computer algorithms and code, which is in the same ballpark as IT. However, the way blockchain is disrupting the IT industry is most likely different from what you think. For starters, it depends on what area of IT you are interested in. If you want to work as a web developer or internet security specialist, you are looking at two of the highest paid freelance careers in the job market today.

According to Career Addict, you can work as a freelance web developer earning an estimated $60 an hour coding and building websites from the comfort of your couch or your favorite cafe. While a freelance internet security specialist makes about $50 an hour providing cybersecurity services. How does blockchain relate to freelance IT careers? Blockchain allows freelance workers to automate their home office for greater efficiency.

You get to be your own boss, set your own hours and financial goals, while using blockchain services, like smart contracts, to create automated contracts between you and your clients. You can also use blockchain to eliminate third-party financial providers for necessary financial transactions while keeping the process secure and quick. This eliminates costly transaction fees and provides greater control over your income.

Choosing a Blockchain Degree Program

With blockchain technology emerging in almost all aspects of trade and business, achieving a Master’s in Global Business with Blockchain Technology is a perfect way to help businesses close the security gap they are experiencing while helping you to advance your own career.

Let University of the Cumberlands help you position yourself ahead of the competition. Learn more about our Online Master’s in Global Business with Blockchain Technology Degree program today.

Contact our graduate admissions office toll-free at 833-958-0560 or email us at gradadm [at] ucumberlands.edu (gradadm[at]ucumberlands[dot]edu).