Have you ever wondered how you can leverage your passion for blockchain technology expertise and cryptocurrencies to shape your career as a remote Blockchain Consultant?
Well, I have an exciting announcement to make.
The intricacies of the distributed ledger technology itself may be hard to grasp, even for tech enthusiasts. Still, the growing popularity and demand of Blockchain is evident for all to see.
According to Statista, worldwide spending on blockchain solutions is expected to grow from 4.5 billion US dollars in 2020 to an estimated 19 billion US dollars by 2024.
That’s never changed, even today.
Another study by Buy Bitcoin Worldwide suggests that the global blockchain market will be worth $1,431.54 billion by 2030, growing at a CAGR of around 85.9% from 2022-2030.
It turns out that, in 2020, the financial sector accounted for around 30 percent of the market value of Blockchain worldwide, with the potential to reduce 30% of banks’ infrastructure costs — that’s more than $10 billion every year.
So, what does that mean? Blockchain is revolutionizing the financial industry and making it easier for professionals like you.
This could be your opportunity to stamp the industry on your career.
I hope to see you in there.
In this guide, I will unlock the secrets to building a successful blockchain career as a Blockchain Consultants.
Let’s get started!
How to Become a Blockchain Consultant- Practical Action Steps
Step 1: Role of a Blockchain Consultant
If you’re new to Blockchain and all the surrounding technology, don’t worry—I’ll explain it simply.
Blockchain is a decentralized and secure system of recording transactions or information where:
Data is stored in blocks
Linked together in a chain, and
Protected by cryptographic techniques
It’s like a digital ledger that can’t be altered once information is recorded.
How is Blockchain connected to the finance industry?
Now, let’s link Blockchain to the finance industry.
As I said in the introduction to this guide, Blockchain has the potential to revolutionize finance by offering transparent, secure, and efficient ways to process transactions and manage data.
It eliminates the need for intermediaries and enhances trust among parties.
Here is a highlight of how it’s being applied to the operations of the finance industry.
Step 2: Applications of Blockchain in Finance
#1. Payments and remittances
Blockchain can facilitate fast and cost-effective cross-border payments and remittances, reducing transaction fees and processing times.
#2. Smart contracts
These are self-executing contracts with the terms directly written into code. They automatically execute when the conditions are met, streamlining contract management and reducing the need for intermediaries.
#3. Supply chain finance
Blockchain can enhance supply chain transparency, ensuring the authenticity and traceability of goods and reducing fraud.
#4. Identity verification
Blockchain can provide a secure and tamper-proof identity verification system, reducing the risk of identity theft and fraud.
So, what does a blockchain consultant do regarding how Blockchain is applied in the finance industry?
A Blockchain Consultant is an expert who advises businesses on integrating blockchain technology into their operations.
Typically, your work is to,
Analyze business needs
Identify suitable use cases for Blockchain, and
Design solutions to optimize processes
To put that into perspective, let’s look at some of the critical responsibilities of becoming a Blockchain Consultant.
Step 3: Key responsibilities of a blockchain consultant
As a blockchain consultant, you’ll do the following:
#1. Consulting services
Providing strategic guidance to businesses about the benefits and risks of implementing blockchain solutions for business processes. This includes assessing the feasibility of blockchain adoption and recommending appropriate strategies.
#2. Solution design
Designing and developing blockchain-based applications and systems tailored to the specific requirements of the finance industry. This involves collaborating with developers, industry professionals, and stakeholders to develop solutions and ensure successful implementation.
#3. Security and privacy
Implementing robust encryption and access controls ensures the security and privacy of blockchain data and networks. Consultants also help businesses comply with relevant data protection regulations.
#4. Research and analysis
Keeping up with the latest trends, updates, and advancements in blockchain technology and analyzing how they can be applied in finance.
#5. Education and training
Providing training sessions and workshops to educate stakeholders about the role of blockchain technology and its potential impact on the finance industry.
Now, let’s talk about blockchain careers, the technical skills, and the qualifications required to become a successful blockchain engineer or consultant.
Step 4: Skills and qualifications required to be a blockchain consultant
To better understand your requirements in this section, I’ll break it further into three sub-sections.
1. Familiarity with finance and business concepts
A strong background in finance and knowledge of the industry’s pain points will help you tailor blockchain solutions to meet specific financial needs.
Here are some examples of courses, degrees, and certifications that can help you gain the relevant finance and industry expertise as a Blockchain Consultant:
#1. Bachelor’s/Master’s degree in finance
Pursuing a degree in finance will provide you with a solid foundation in financial principles, accounting, investment analysis, and risk management.
It will help you understand the intricacies of the financial industry and how a blockchain solution can be applied to address its pain points.
Offered by the Blockchain Training Alliance, the CBP certification covers various aspects of blockchain technology, including its application in finance.
This course will equip you with the knowledge to identify blockchain opportunities in financial services and develop effective growth strategies therein.
Provided by the Blockchain Council, this certification focuses on the intersection of Blockchain and finance.
#4. CFA® Program
The Chartered Financial Analyst (CFA) designation is highly respected in finance.
While it doesn’t specifically focus on Blockchain, the program covers many legal aspects and financial implications. These topics can complement your expertise as a certified Blockchain Consultant.
2. Online Courses on Financial Technology (Fintech)
3. Blockchain for business
An Introduction to Hyperledger Technologies: Offered by the Linux Foundation through edX, it provides insights into Hyperledger blockchain technologies and their potential applications in various industries, including finance.
Step 5: Solid blockchain knowledge
You must deeply understand blockchain technology, its architecture, consensus mechanisms, and smart contracts. You can gain internship in the Blockchain Consultant job industries.
Several blockchain courses are available to help you gain solid knowledge in this field.
Here are two highly recommended ones:
This comprehensive online course covers all the fundamental aspects of blockchain technology. It provides a deep understanding of blockchain architecture, consensus mechanisms, and smart contracts.
The course also introduces you to popular blockchain platforms like Ethereum and Hyperledger, enabling you to gain hands-on experience with real-world projects.
Developed by IBM, this course is tailored for aspiring blockchain developers. It offers a detailed exploration of blockchain concepts, focusing on Hyperledger Fabric as the primary platform.
In this course, you’ll learn about:
The architecture of Hyperledger Fabric
Innovative contract development using chain code (Go programming language) and
How to set up and manage a blockchain network
This course is well-suited for your interest in enterprise blockchain solutions.
Step 6: Fundamentals of Digital Marketing
You need to have a solid understanding of how businesses operate in the digital space and how to navigate freelancing as a career.
Here are two courses that you can pursue:
#1. “Freelance Consulting” by Udemy
This course is designed for aspiring freelance financial consultants who want to offer their expertise to businesses and individuals.
This course provides practical insights and actionable steps to establish yourself as a successful freelance financial consultant.
#2. “Freelance & Entrepreneurship” by Skillshare
Geared towards freelancers in the digital marketing field, this course focuses on the fundamentals of digital marketing and building a thriving freelance business.
It covers social media marketing, content creation, search engine optimization (SEO), email marketing, and client acquisition.
You’ll learn how to create effective marketing strategies for your clients and manage projects efficiently as a freelance digital marketer.
These courses will equip you with the necessary skills and knowledge to thrive as a freelancer in finance and digital marketing.
They offer practical guidance and real-world insights to help you establish a successful freelancing career in these fields.
If you need more insights in this area, I suggest you go through the 10 Qualities of Successful Freelancers article.
That’s not all, there are several other skills that you need to qualify for this career, they include:
Given the massive interest in this technology, increasing numbers of blockchain startup companies have been springing up each year.
The United States currently leads the market with numerous major firms investing millions each year in funding. China comes second, closely narrowing the gap behind the United States through her companies Ant Group and J.D. Digits.
To stay updated with the latest developments, join blockchain communities, attend conferences, and engage in networking at blockchain events too. Building a solid blockchain professional network can open your doors to new opportunities.
Lastly, hands-on experience through internships or personal projects will provide practical knowledge and enhance your expertise.
Does that seem too much to ask for? No, a career in blockchain consulting is super rewarding, and very few people make it to the mark.
That means if you can sacrifice the time you have now (as the technology evolves), you’ll be the most sought-after Blockchain Consultant a year or two from now.
Go for it.
Benefits of a Freelancer Blockchain Consultant
If you think the Blockchain Consultant career is too demanding, let’s look at the other side.
Let’s explore the benefits of embracing a remote work lifestyle in blockchain consulting.
In the introduction to this guide, I delved into mind-blowing statistics that indicate that the world is slowly calling for more people to work remotely as consultants.
Let’s see why:
#1. Flexibility and freedom
Remote work allows you to choose your schedule and work environment.
You can enjoy the freedom of working from home stay, in a cozy café, or even while traveling, tailoring your workspace to your liking.
As a blockchain expert, you’re already familiar with technology-driven solutions.
Security is paramount in blockchain projects. Remote work empowers you to communicate securely through encrypted channels, safeguarding sensitive information and maintaining the integrity of your blockchain project manager and related discussions.
#2. Access to global opportunities
Blockchain networks operate 24/7, and your expertise may be needed anytime.
With the freelancer way, you can be available around the clock, ensuring your valuable support is accessible no matter the time zone.
With remote work, you can tap into a vast global client base. No boundaries are holding you back, allowing you to collaborate with clients and projects worldwide and across diverse industries.
#4. Cost savings
Say goodbye to the daily commute! By working remotely, you save both time and money.
You can also explore cost-effective alternatives for office spaces, reducing overhead expenses and business efficiency.
#5. Work-life balance
Remote work empowers you to achieve a better work-life balance. You can manage your personal commitments alongside your professional responsibilities, leading to reduced stress and increased productivity.
#6. Diverse collaborations
Embracing remote work opens the door to collaborations with professionals from different backgrounds and cultures.
Additionally, just like Blockchain operates decentralized, remote work enables you to collaborate and provide services without being tied to a physical office.
You can work as part of a distributed network, just like the technology you’re passionate about.
This diversity brings fresh perspectives and innovative solutions to your blockchain projects.
#7. Personal development
Working remotely cultivates essential skills like self-discipline, time management, and effective communication.
As you manage your own schedule, you’ll develop valuable abilities beyond your blockchain technology expertise.
Setting Up Your Work Space as a Blockchain Consultant
“Success is not the key to productivity. Productivity is the key to success.” – Anonymous
Why do I start with a quote about success and productivity?
Because that’s the reality as backed up with data and statistics.
According to a survey by ConnectSolutions, 77% of those who work remotely at least a few times per month show increased productivity, with 30% doing more work in less time and 24% doing more work in the same period.
So, what does that mean? You can still be productive working from anywhere worldwide as long as you are determined.
But you have to do certain things right. Those are the things I’m about to share in this section.
So, pay close attention.
#1. Design a comfortable and organized workspace
Ensure your workspace is comfortable and clutter-free.
You can achieve this by investing in a good-quality ergonomic chair and a spacious desk to support your long work hours.
Secondly, you need to keep your essentials within arm’s reach so you don’t waste time searching for things.
#2. Embrace natural light and proper lighting
Natural light can work wonders for your productivity.
Position your desk near a window to soak in that sunshine, which boosts focus and reduces eye strain.
Additionally, invest in proper lighting for the evening hours to maintain a well-lit and inviting work environment.
Consider getting a desk lamp with adjustable brightness levels. This way, you can tailor the lighting to match your work demands and mood.
#3. Minimize distractions and set boundaries
Distractions can derail your productivity.
Create clear boundaries with your family or roommates during work hours so they know when not to disturb you.
Also, silence unnecessary notifications on your devices to maintain your focus.
You can designate specific break times to check personal messages or social media. This way, you can stay connected without compromising your workflow.
#4. Invest in technology for seamless collaboration
As a blockchain consultant, effective collaboration is essential.
You must invest in reliable tools and platforms for video conferencing, file sharing, and project management.
#5. Leverage productivity and time management apps
Make the most of productivity apps and time management tools to stay organized and focused.
On top of that, create a daily to-do list with achievable goals. Check off completed tasks to feel a sense of accomplishment and stay motivated.
#6. Secure your data with cybersecurity measures
As a blockchain consultant dealing with sensitive information, prioritize cybersecurity.
Regularly back up your work to an external hard drive or secure cloud storage to avoid data loss in unforeseen incidents.
By implementing these practical tips and investing in the right tools and technology, you’ll create an efficient and productive workspace that enhances your performance as a top blockchain developer and consultant.
Now that you understand basic understanding of blockchain basics and how to set up a remote workspace, how do you get reliable blockchain consulting opportunities?
Let’s discuss that in the next section.
Blockchain Consultants- Remote Job Platforms and Freelancing Websites
As the gig economy continues to gather steam, more and more professionals are ditching the traditional 9-to-5 in favor of self-employment through the freelancing space.
Another study by the World Bank suggests that around 46.5% of the total global workforce is self-employed.
So, what does this all mean?
Like any other industry, freelancing has been disrupting the finance industry, offering professionals like you, blockchain consultants, exciting opportunities to work on diverse projects remotely.
That’s exciting, but where do you start?
In this section, I’ll walk you through crafting an outstanding online profile, pitching proposals effectively, and creating elevator pitches that move clients to hire you.
#1. Crafting an impressive online profile
In today’s digital age, where remote work and freelancing are becoming increasingly prevalent, your online presence plays a vital role in establishing credibility and building trust with prospective clients.
An impressive online profile is crucial for blockchain consultants as it is your virtual introduction to potential clients and employers.
An impressive online profile not only showcases your expertise in blockchain technology but also demonstrates your
Commitment to delivering high-quality services
Clients searching for a blockchain consultant often turn to freelancing websites, social media platforms, and professional networks to find the right match for their projects.
Your online profile is their first impression of you, which can significantly impact their decision to hire you.
Therefore, a well-crafted profile that highlights your skills, experience, and accomplishments can set you apart from competitors and attract potential clients to reach out to you.
Moreover, an impressive online profile acts as a digital portfolio, allowing you to showcase your past projects, client testimonials, and relevant certifications.
This tangible evidence of your expertise builds credibility and instills confidence in clients that you can deliver results effectively.
Here are some tips that can make you stand out:
#2. Highlight your expertise
Showcase your in-depth knowledge of blockchain technology, smart contracts, and relevant programming languages.
Mention your previous projects and successes to establish credibility.
#3. Create a clear value proposition
Clearly communicate the unique value you bring to the table.
Explain how your expertise can solve clients’ problems or contribute to their blockchain projects.
#4. Display a professional image
Use a professional profile picture and a well-written biography conveying your passion for the Blockchain space and your commitment to excellence.
#5. Leverage recommendations and reviews
Request recommendations from previous clients or colleagues to build trust and confidence in your skills.
Blockchain Consultants- How to Craft Pitching Proposals
Have you ever wondered why Harvard Business School teaches students the art of mastering elevator pitching and how to use it?
Well, today I’ll show you why.
Crafting pitching proposals effectively is essential for blockchain consultants to make a compelling case to potential clients and secure exciting projects.
Let’s dive in and discover the secrets to crafting winning proposals that captivate and convince clients to choose you as their trusted blockchain consultant.
#1. Personalize your proposals
Tailor each proposal to the specific needs of the client. Show that you understand their project and how your expertise aligns with their goals.
#2. Highlight relevant experience
Introduce yourself with confidence and clarity. Clearly state your role as a blockchain consultant and what makes you stand out.
Emphasize any past experience in the finance or blockchain software development industry. Let clients know how your expertise can bring value to their financial blockchain projects.
#3. Offer clear deliverables
Outline the scope of work, deliverables, and timelines in your proposal. Clients appreciate clarity and transparency in project expectations.
Always keep your elevator pitch short and impactful. Aim for a minute or less to leave a lasting impression without overwhelming the listener.
#4. Competitive Pricing
Be fair with your pricing while considering your expertise and the value you bring. Avoid undervaluing your services, but also be competitive within the freelancing market.
Suppose you want more guidance on how to work as a consultant. In that case, I strongly recommend reading The McKinsey Way: A Comprehensive Summary.
Now, let’s turn the pages to freelancing sites where you can get hired as a Blockchain Consultant.
Freelancing websites and job platforms hiring blockchain consultants
Now, you have the necessary tools, skills, and tips to get your freelance job as a Blockchain Consultant. Use them to navigate the platforms above and start securing your future with the first gig.
If you need more guidance, I recommend watching this video: How to Land Your 1st Blockchain Job with No Experience.
Suppose you need something to keep you motivated and give you confidence in pursuing freelancing jobs as a Blockchain Consultant. In that case, the next section is for you.
Success Stories of Blockchain Consulting Services/ Blockchain Professionals
Here are some success stories of some professional blockchain consultants:
Location: United States
David is a law and MBA degree holder and a successful professional blockchain consultant. He has built M&A models for $500+ million deals, led integrations that delivered $200 million in collaborations and placed venture investments returning 4x+.
He previously worked in M&A at publicly traded firms such as NCR and Mitel and as a CFO for private equity firms and startups.
As a freelancer, he leverages his operational and deal-related skill set to advise clients on strategy, modeling, and investment decisions.
Alex is an international professional and entrepreneur with a solid track record in strategy, venture building, and technology.
Alex has worked extensively in the EMEA, Asia Pacific, and Latin American regions.
3. Tory Green
Location: United Arab Emirates
Tory is a Stanford graduate and partner at Tiller Partners, a US-based VC with over 20 investments and $100+ million AUM. He has nearly 20 years of experience in strategy (Disney, Fox) and finance (Oaktree, Merrill Lynch).
He has acted as COO and CFO of a venture-backed fintech startup and co-founder of a digital publishing firm with a Top 50 iTunes ranking podcast and over 2 million downloads per month.
4. Alec Tseung
Location: Hong Kong
He co-founded a financial advisory company in Hong Kong that advises companies in China, Southeast Asia, and Central Asia.
He has also offered advice to companies with total assets ranging from $10 million to over $1 billion.
He was nominated by Forbes Georgia in “30 Under 30: Finance.”
Pause momentarily and ask, “Have you been inspired by the case studies and success stories above?”
If so, in the next section, I will highlight everything about the future of the blockchain ecosystem and the trends you can expect.
Ready? Let’s dive in.
Future Trends and Opportunities for Blockchain Consultants
Staying informed about the ever-evolving blockchain industry is essential for blockchain consultants’ best practices.
Though the subject matter of new blockchain technology is relatively new, it continues to disrupt various sectors. Keeping an eye on emerging industry trends and opportunities becomes essential for you to remain competitive and seize potential advantages.
In this section, I’ll quickly mention some future trends and opportunities that you can expect from now going forward in new blockchain technology.
Insights into the future prospects of blockchain technology
Blockchain technology is poised to revolutionize numerous industries beyond finance.
As blockchain adoption grows, the demand for blockchain consultants will increase significantly.
Sectors like healthcare, supply chain management, gaming, real estate, and government are already exploring blockchain applications, creating many opportunities for consultants to contribute their expertise.
Look at the table below.
What does all this mean?
Blockchain consultants who stay ahead of these advancements and adapt their skills accordingly will be at the forefront of industry innovations.
For example, suppose you’re in the banking industry. In that case, you can consider venturing into retail or discrete manufacturing to edge out the competition in the banking industry.
Emerging trends and potential niches in the blockchain industry
Blockchain technology is a rapidly growing industry that has the potential to revolutionize the way you do business.
According to Deloitte Insights, Blockchain and other distributed ledger technologies are changing the nature of doing business and helping companies reimagine how they manage tangible and digital assets.
In 2022, spending on enterprise blockchain solutions used by businesses is forecast to hit $11.7 billion.
#1. Blockchain 4.0
Blockchain 4.0 is focused on innovation. Speed, user experience, and usability by larger and common mass will be the key focus areas for Blockchain 4.03.
#2. Web 3.0
Web 3.0 aims to create an autonomous, open, and intelligent internet. It will rely on decentralized protocols, which Blockchain can provide.
#4. Blockchain-as-a-Service (BaaS)
BaaS is one of the leading blockchain technology trends for 2023. Hyperledger Cello is one such BaaS project.
#5. Decentralized Autonomous Organizations (DAOs)
DAOs are organizations run by rules encoded as computer programs called smart contracts.
#6. Central Bank Digital Currencies (CBDC)
CBDCs are digital versions of fiat currencies that are issued by central banks5.
#7. Asset Tokenization
Asset tokenization is converting ownership rights in an asset into a digital token on a blockchain.
#8. Smart Contracts
Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code.
These are just some of the emerging trends in the blockchain industry. The possibilities for blockchain technology are endless, and it will be exciting to see how it develops in the future.
Right. Up to that point, we’ve covered what this guide was about.
Let’s jump into some frequently asked questions and wrap up this guide.
Blockchain Consultant Career – Frequently Asked Questions
Let’s explore some frequently asked questions you need to know.
What are the key challenges blockchain consultants face in the remote work?
Remote work may involve time zone differences, communication barriers, and work-life balance.
It’s essential to set clear boundaries, communicate effectively, and be adaptable to overcome these challenges successfully.
As a blockchain consultant, how can I effectively handle clients with different levels of blockchain understanding?
Adapt your communication style to cater to your clients’ knowledge levels. Use plain language when explaining complex concepts and provide visual aids, if necessary.
Be patient and foster a learning environment, empowering your clients to understand the technology better.
How can I build a strong portfolio as a blockchain consultant with limited work experience?
You can start by taking on small freelance projects or contributing to open-source blockchain initiatives.
Showcase your personal projects and any relevant coursework or certifications. Focus on demonstrating your problem-solving abilities and passion for the technology.
How can I demonstrate my blockchain consulting expertise without revealing sensitive client information?
You can showcase your skills by creating anonymized case studies or project summaries.
Highlight the challenges you solved, implemented solutions, and achieved outcomes without disclosing confidential details.
This way, potential clients can see your capabilities while respecting the privacy of your previous clients.
What are some effective strategies for handling client disagreements or conflicts during a blockchain consulting project?
Open communication is vital. If disagreements arise, address them promptly and professionally.
Listen to your clients’ concerns and seek common ground for resolution.
Document any changes to the project scope or timeline to avoid misunderstandings.
Flexibility and willingness to find solutions collaboratively will help maintain a positive client relationship.
My Exclusive Insights for You
Up to this point, we’ve covered what this guide was all about.
In conclusion, this practical action guide has provided valuable insights for aspiring blockchain consultants seeking to thrive as a freelancer.
Let’s recap the key takeaways for Block Chain Consultant career:
The blockchain industry is rapidly growing, offering exciting career opportunities for remote consultants like you with a deep understanding of blockchain technology and its applications.
Building a professional online profile, effective networking, and pitching proposals are essential to attracting clients and projects in the competitive freelancing landscape.
To succeed as a remote blockchain consultant, create a well-organized workspace that fosters productivity and efficiency, supported by reliable hardware, software, and collaboration tools.
Now, it’s time for you to exploit this exciting blockchain journey, as a blockchain consultants.
As you chart your path, remember the power of your Inner GPS. Your Inner GPS is the guiding compass within you, helping you make wise career decisions and navigate through challenges.
Always trust your instincts and intuitions, follow your passions, and let your Inner GPS lead you to the career path that truly resonates with your soul.
If you need further guidance and want to fully leverage your Inner GPS, consider enrolling in our Inner GPS Career Coaching.
Our experienced coach will help you unlock your true potential, align your career goals with your passions, and empower you to make impactful choices that shape a fulfilling and rewarding future.