Lynsey Jackson sitting at her desk.

‘A slow revolution’: Could the future of all work be on the blockchain?

Lynsey Jackson was looking for a change when she quit her corporate finance job to explore her career options, before going in a direction that would shock many.

She sees her future in blockchain technology, starting with a degree in applied blockchain from TAFE Queensland.

Blockchain, best known as the platform that hosts cryptocurrencies, is the foundation of “Web3”, the brave new internet held together by distributed databases, all of which confirm the same information.

Blockchain is a peer-to-peer security network that allows users to become part of the system.

With regard to cryptocurrencies, the system validates the possession of coins and transactions, and works to create new coins.

“Most people when I say I’m turning my career into blockchain don’t really know what I’m talking about and what the opportunities are…for the most part, people in my world aren’t aware of it,” Ms. Jackson said. .

“It can improve things like tracking and traceability and reduce fraud… We can use that kind of technology to make the world a fairer, more inclusive and more sustainable world for everyone.”

As for what she wants to do in the industry?

“That’s the million dollar question,” she said. “That’s why I registered for the diploma.”

Ms. Jackson first learned of blockchain like most do: cryptocurrency.

According to CHOICE, one in nine Australians has invested in a cryptocurrency in the past 12 months and another 11 percent are interested in investing.

But Ms. Jackson, who “maintains” investments in some of the major currencies, said that was not what prompted her to study the technology.

“What is actually happening in the blockchain space goes way beyond what we know about Bitcoin and cryptocurrency and a get-rich-quick opportunity,” she said.

Looking for stability

According to economist and futurist Steve Sammartino, a better public understanding of the difference between cryptocurrencies and blockchain is fundamental to the latter’s future success or failure.

“The fact that they are bundled in the same category is quite problematic,” he said.

“Cryptocurrencies are a one-time use for blockchain… blockchain has incredible benefit and potential to reshape the entire fabric of the economy.”

Cryptocurrencies are notoriously volatile and there are currently about 10,000 on the market.

Steve Sammartino says blockchain technology is much more than a host for cryptocurrencies.Delivered

Mr. Sammartino said some cryptocurrency will be needed if blockchain is used for large-scale financial transactions, but the current proliferation and instability degrades any value as a viable replacement for fiat money.

He believes there is a role for government in what has hitherto been a largely unregulated space.

“Regulation is part of what we believe as a community and society, that’s the first part. The second part is education in schools,” he said.

“The challenge is that the space is changing so fast that mainstream regulation and education can’t keep up because there is always the next or the next iteration on a rapidly evolving technology.

“That gives the peddlers five minutes to come up and say, ‘Okay, boomer, you don’t understand.'”

‘Just a way we store data’

Danielle Marie tries to get ahead of the peddlers.

She teaches the applied blockchain diploma at TAFE Queensland

Ms Marie said many of her students enroll in the course hoping to learn more about investing in cryptocurrencies, but leave with more concrete goals.

“Crypto is the gateway to blockchain,” she said.

She said most of her students will become either project managers and planners or business analysts, positions that were added to the list of skilled migrant occupations in 2019, indicating the need for more people with blockchain knowledge and training in Australia.

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