ConsenSys, a production studio for decentralized applications (dApps), will have the first class graduation of its academy on the 22nd of October.
The ConsenSys Academy is a pioneer school for blockchain developers and a branch of Consensus Systems (ConsenSys). Focusing on Ethereum blockchain development, their mission is to develop the global blockchain ecosystem and revolutionize education through blockchain technology.
Their first class is comprised of over 150 future blockchain developers, with 25 of them being United Arab Emirates natives, selected from a group of 1,300 applicants. On the end of the course, students will be flown to Dubai for a 3-day hackathon with a graduation ceremony on the end. The graduates will then be certified Ethereum developers with the certificates being issued on the Ethereum blockchain.
High Demand for Blockchain Developers
As distributed ledger technologies grow more popular and dApps are created using smart contracts, financial institutions look for blockchain experienced individuals. At the moment there is a certain supply/demand imbalance and the need for blockchain programmers will continue to grow, as more and more fintech startups, traditional financial institutions and consultancy firms adopt blockchain.
Blockchain solutions are now starting to be integrated into banking institutions (Barclays, Santander), consultancy firms, as well as big companies (Toyota, Fujitsu, Intel). The need for Ethereum developers is a real need, many fintech startups and more than 50% of the ICO market uses the Ethereum blockchain. Not only that, earlier this year the Enterprise Ethereum Alliance was formed, a group of 30 big banks and companies like JPMorgan and Microsoft looking to build business solutions using Ethereum software.Expertise in the cryptocurrency space is a very rare commodity. Oliver Bussmann, former UBS chief information officer and founder of Bussmann Advisory, estimates that there are only about 20,000 individuals with blockchain development expertise and that, according to industry sources in a Financial News report, salaries for top blockchain developers range around £250,000 to £500,000.
Blockchain in Dubai
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the crown prince of Dubai, wants to make Dubai the first Blockchain-powered city by 2020. In order to do so, he formed the Dubai Blockchain Strategy, a joint initiative formed last year with the Smart Dubai Office and the Dubai Future Foundation. Dr. Aisha Bin Bishr, director general of the Smart Dubai Office, states that:
“Dubai continues to lead the pack in technology innovation. Hosting the final stage of this first-of-its-kind developer program is another step towards bolstering the emirate’s position as a global technology leader and the first blockchain-powered government.”