The use cases for blockchain are accelerating sector-wide. However, some industries are experiencing Web3 adoption faster than others. Furthermore, it’s not always apparent what types of businesses could benefit from implementing blockchain-based solutions. This has left many business owners and teams wondering, “what do Web3 developers do?” and “what companies hire Web3 developers?”. If this sounds familiar, read on!
In this article, we’re going to explore the reasons why so many businesses are integrating Web3 and blockchain. We explore why Web3 is becoming increasingly prominent in various sectors. Plus, we look at some of the different types of companies looking to employ Web3 developers. Also, we discuss why IT companies hire Web3 developers and the benefits of integrating blockchain into daily business practices. Further, we address common questions such as “why should businesses hire blockchain developers?” and “what companies hire Web3 developers?”.
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What is Web3?
Before we consider the question, “what companies hire Web3 developers?”, let’s take a closer look at Web3 itself. Web3 (the decentralized web, web 3.0) is a new iteration of the internet that uses public blockchains to operate without a central authority or single point of failure.
The first iteration of the internet (Web1) consisted of static images and text. It had almost no interactive features, and a small group of people created most of the content. The current version of the web (Web2) features user-generated content and interactive websites. Almost anyone can create and consume Web2 content. However, the web is largely dominated by a small handful of powerful companies that prioritize profits over user privacy.
Web3 refers to a series of interconnected, permissionless protocols owned and controlled by the people that created and use them. Also, the use of cryptocurrencies in Web3 allows for decentralized economies that operate without trust by interacting with smart contracts and decentralized applications on public blockchains.
Why Do We Need Web3?
Web3 aims to reduce the concentration of power held by big tech companies. It creates equitable development environments that encourage innovation and reward participation. Also, Web3 provides a gateway to emerging economies. Further, it assists in the creation of disruptive technologies that are reshaping how we think about trust and transparency.
Blockchain-based decentralized social media platforms, marketplaces, financial services, and gaming platforms create an ecosystem of products and services that are censorship-resistant, borderless, and equitable for creators and users. Also, Web3 platforms remove intermediaries and allow transactions to occur faster with less friction.
Moreover, Web3 is a response to mass surveillance and data mining that is becoming an increasingly prominent part of everyday lives. The Web3 movement empowers businesses and individuals to take control of their data and participate in global digital economies.
Public blockchains allow data to be stored immutably and transparently. Also, they minimize the profitability of hacks and threats, removing the “single point of failure” that we often associate with centralized databases. Furthermore, Web3 applications benefit from a higher degree of security than most Web2 platforms.
What Does a Web3 Developer Do?
Web3 developers use smart contracts to create decentralized applications (dapps) on public blockchains such as Ethereum. Dapps include everything from decentralized finance (DeFi) protocols to social media, blockchain gaming, web browsing, and the metaverse. Furthermore, Web3 developers can use a broad range of tools to create dapps. However, the Web3 stack tends to feature a handful of common programming languages and libraries.
The Web3.js Web3.py, and ethers.js software development kits (SDKs) provide several libraries for interacting with smart contracts. Furthermore, the Solidity programming language is the go-to programming language for creating smart contracts on Ethereum, which is influenced by popular Web2 languages such as JavaScript, Powershell, and C++.
To learn how you and your team can incorporate smart contracts into your business, check out the Ethereum Smart Contract Programming 101 course at Moralis Academy. In this course, we show everything you need to know in order to build and deploy smart contracts on Ethereum. Also, we cover the history of programmable money and the foundations of DeFi. In addition, check out Moralis Projects to practice your skills and build a range of exciting Web3 applications for free!
What Companies Hire Web3 Developers?
Now it’s time to consider the question, “what companies hire Web3 developers?”. Although Web3 is still a relatively young concept, the use cases for blockchain are becoming increasingly apparent in several sectors. For example, blockchain is becoming an essential part of supply chain management for several global companies. Any company that uses a supply chain stands to benefit from hiring Web3 developers, as blockchain can help to optimize business processes and minimize counterfeiting and fraud. Plus, blockchain can improve efficiency in manufacturing, warehousing, inventory management, and transport.
Blockchain allows businesses to track assets and materials at every step of the supply chain. Accordingly, blockchain and Web3 are expected to play a crucial role in reducing waste and carbon emissions for businesses worldwide. Furthermore, the global standards body GS1 is already implementing Web3 technologies for global freight and shipping operations to improve traceability and pool data between fleets.
However, the use of blockchain and Web3 is expanding into several other areas of various industries. For example, blockchain is becoming increasingly prominent in real estate, the energy sector, and notably, the financial sector. From Google to IBM, JPMorgan Chase, and Microsoft, some of the biggest names in tech and finance are recruiting Web3 developers. Also, entertainment and media outlets are jumping on the Web3 bandwagon. In particular, NFTs have become a powerful marketing tool for top brands and businesses industry-wide, from McDonald’s to Lamborghini.
Are Web3/Blockchain Developers in Demand?
Blockchain was ranked as the number one most in-demand skill by LinkedIn in 2020. As a blockchain developer, you can earn a handsome salary. Web3 and blockchain developers have a highly desirable skill set. As a result, demand is quickly outpacing supply. Companies across the board are rushing to develop blockchain and crypto offerings. This means that training your team in blockchain and Web3 could put you at an unfair advantage against your competitors and position you to capture a larger share of this emerging market.
10 Reasons Why IT Companies Hire Web3 Developers
So, after addressing the question of “what companies hire Web3 developers?”, let’s take a look at some of the reasons why companies are hiring blockchain professionals. The IT industry is uniquely positioned to benefit from blockchain and Web3 in several ways. Below, we outline ten of the most common reasons why IT companies hire Web3 developers and how they can benefit technology companies.
Develop New Technologies and Products
Several businesses are hiring Web3 developers to create new and exciting products for a variety of applications. If your business needs to adjust to meet shifting consumer demands, hiring a team of Web3 developers could help you stay relevant and compete with other businesses in the industry.
Integrate Blockchain Into Existing Systems
With the right expertise, blockchain solutions can be easily integrated into existing IT systems. However, a knowledgeable team is essential for making this transition frictionless. If you plan to integrate Web3 into your current infrastructure, it’s worth considering the training requirements for any changes you plan to implement.
Smart Contract Security Audits
If you want to integrate smart contracts into your operations, you’ll need to make sure they are seamless before they enter production. Most smart contract developers will use external auditors before releasing a dapp or blockchain protocol to the public. However, you can save a great deal of time and money by testing your dapps in-house before bringing in an auditing firm. Writing smart contracts is one thing, but knowing how to put them through their paces requires a higher degree of understanding. Accordingly, smart contract programmers are in high demand from IT companies.
Manage an Existing Team of Developers
If your firm is already transitioning to Web3, you’ll need someone with experience to take care of your team and show them the ropes. Even the most experienced developer is at a disadvantage without properly understanding blockchain and Web3. If you want to learn how to manage a team of blockchain developers, check out the Blockchain Business Masterclass course at Moralis Academy.
An Edge Over Competitors
As blockchain plays an increasingly prominent role industry-wide, many businesses are preparing for a decentralized future. If you’re not already thinking about incorporating Web3 and blockchain, there’s a high chance that your competitors are. Blockchain education helps to prepare you and your team for this new paradigm by giving you the tools you need to stay up to date and relevant.
Optimize Workflow and Communications
The ability to automate authentications and communications throughout your business can help to optimize your workflow. Using Web3 solutions could help you save time that can be applied to other areas of your business.
Increase Security
Blockchain can help to improve the security of centralized, siloed databases. Whether you use a public, private, or hybrid blockchain, the security benefits can help you and your business protect against cybercrime by distributing sensitive data across a network of nodes. Having a team of Web3 specialists could help you to prevent security breaches and minimize vulnerabilities for years to come.
Expand Business Network
The Web3 industry is global and inclusive, making it easy to form partnerships and expand business networks. When you integrate blockchain, you enter a community of innovators and ambassadors of decentralized technologies.
Reduce Operational Costs
Cross-border transactions are notoriously slow and expensive. Also, intermediaries and manual authentication processes can rack up high costs when done en masse. Incorporating blockchain into your business can help to remove intermediaries and automate all kinds of operations.
Improve Customer Experiences
Blockchain databases allow for seamless customer interactions and inter-departmental communications. Storing customer records on an immutable distributed ledger prevents data from becoming misplaced or used without permission. Not only will your customer data be safer, but records are easy to manage and cannot be manipulated.
Why Should Businesses Hire Blockchain Developers? – Summary
Businesses of all types are looking to Web3 developers to help improve security, transparency, and efficiency. Whether you want to automate complex transactions without intermediaries or you simply want a robust framework for sharing data and value, Web3 and blockchain-based solutions offer several advantages over legacy infrastructures.
Although many assume that blockchain is limited to cryptocurrencies and finance, Web3 technologies are becoming an essential part of 21st-century business operations. Blockchain education is one of the best ways to help your team upskill and compete in this shifting paradigm of finance and technology. Moreover, the ability to add Web3 features to your existing products or create new and exciting dapps could help you future-proof your business and create new ways to engage with clients.
If you want your team to learn how to create dapps using JavaScript, check out the Web3 Dapp Programming course at Moralis Academy. In this course, we teach you how to build a range of Web3 dapps using familiar Web2 programming tools. Also, check out this “How to Add a Web3 Connect Wallet Button to Your Website” article to learn how to begin adding Web3 features to your website today.
For more reasons why you and your team should learn Web3 development, check out the Blockchain for Enterprise course at Moralis Academy. This course breaks down the many benefits of blockchain for business and enterprise. Plus, we explore Baseline Protocol and the best tools for implementing Web3 into your business. Take your business to the next level and become blockchain certified with Moralis Academy.
