True or False: Millennials started the blockchain bandwagon.
Growing up in the era of the internet, millennials easily adapted to the world of technology. There is an app for everything that you would ever need on your phone: transportation, banking, shopping, food delivery, and more.
They are one of the most technologically savvy groups with much of the technology evolving and growing right in front of our very eyes. Team Grounded associates closely with this mindset with a team made up largely of millennials.
Technology is undeniably popular and essential for us. Hence, it is not surprising that whenever there is a shift in trends related to technology, we would be the first to adopt and take advantage of it. This is no different for blockchain technology. In the past 2 years, blockchain technology has exploded into the scenes and became the main buzzword for every organization and startup. Cryptocurrency is currently one of the strongest use cases for the blockchain technology.
In the Forbes 2018 list, The Richest People in Cryptocurrency, majority of the entrepreneurs (58%) are millennials:
A) Generation Z
NIL
B) Generation Y
Changpeng Zhao, Winklevoss Twins, Brian Armstrong, Brock Pierce, Brendan Blumer, Dan Larimer, Valery Vavilov, Charles Hoskinson, Barry Silbert, Vitalik Buterin, Song Chi-Hyung
C) Generation X
Matthew Roszak, Anthony Di Iorio, Michael Novogratz, Brad Garlinghouse
D) Baby Boomer
Chris Larsen, Joseph Lubin, Matthew Mellon, Tim Draper
Why would this be so? It starts to make sense when you look at the characteristics of this generation.
“I see a bigger world than the one I live in.”
The US Chamber of Commerce Foundation states that in 2012, 11% of millennials had one or more immigrant parent. At the time of reporting, the younger generation was more tolerant of races and groups at 47% compared to the 19% tolerance of the older generation.
Millennials seek purposeful work according to Deloitte’s 2015 Millennial Survey. Taken together, this paints a picture of a young millennial with a broad sense of self. They seek fulfillment in their work and embrace people of different backgrounds.
“I use the internet to learn more and express myself.”
Millennials are famously tech-savvy. The Pew Research Center reported last year about heavy smartphone adoption by this generation at 92% of the US sample. You will find 80% percent of them on Facebook. They build their online selves and 55% have posted selfies on social media. This means that not only are millennials active content creators on the internet, they are also broadcasting traceable information online.
“I am cautious with my interactions offline and online.”
There is a level of self-preservation that never sleeps for this generation. 19% of millennials said that they can trust most people, but this number was far lower compared to the 31% of Gen X, 37% of Silent and 40% Boomer respondents. Towards established corporations, this manifests as animosity. According to Deloitte last year, 67% of millennials from mature economies agreed that businesses are only after profits.
“I find ways to continuously grow my knowledge base.”
The National Center for Education Statistics reported increasing completion rates of students from 1996 to 2007 as well as higher rates for millennials compared to older generations. According to Accenture’s 2016 employment study, there was an increase in the number of US graduates with intentions to take up advanced degrees, from 27% in 2015 to 37% in 2016. There is also an element of active learning as 68% of the surveyed graduates said they would pursue on-the-job learning.
“I have many opportunities to fund my business ideas.”
Zooming out to external factors, startups established in recent years have benefitted from structured fundraising methods. Data analysed from PitchBook revealed that US-based VC firms invested close to US$85 billion last year, over four times the figure from 15 years ago. About 3,800 investment deals were inked annually between 2003 to 2010. From 2011, this figure drastically increase to over 8,700 deals on average.
Which blockchain job would suit you?
Blockchain is an entire industry in itself, with different roles available depending on your personality, motivations and skill set. Here are some blockchain careers to consider:
1.Blockchain engineer
This role is an integral part of the team that deals with technicalities on the back-end to develop, implement and service blockchain products. The engineer also conducts security assessments regularly to identify vulnerabilities and threats for troubleshooting.
This role is perfect for machine whisperers who live and breathe technology. Armed with hard skills in coding and development, they analyse complex tasks and provide innovative solutions.
2.Business Development manager
This role sources, qualifies and closes sales deals with business clients. It is a liaison role that negotiates deliverables with external stakeholders and then aligns with key internal stakeholders to achieve results across the legal, engineering, marketing and product functions of the project.
This role is perfect for people persons who enjoy forging new partnerships with clients. They are sales-driven, results-oriented and highly collaborative. They are effective communicators, not just with the client, but also with key internal stakeholders.
Read the interview with our BD head here!
3.Compliance Officer
Especially in the blockchain industry where regulations vary greatly from country to country, the compliance officer comes in with regulatory know-how to prevent, detect and correct violations. Any compliance, such as licensing, investigations and registrations, issues go through this role. Risk assessments are regularly conducted to ensure compliance.
This role is perfect for virtuous detectives who want to abide by the law while strengthening the values of the company. They are driven by action and accountability. They believe policies and procedures must be consistently and fairly upheld.
4.Marketing manager
This role develops, executes and monitors marketing campaigns that promote products and services of the blockchain project. This entails cross-functional communication for campaign elements such as research, positioning, media buying and events. The marketing manager strives towards awareness, engagement and adoption of their products and services.
This role is perfect for brand builders who can put themselves in the shoes of the end user. They think strategically, mapping out the customer journey so as to maximise campaign effectiveness. They are natural multi-taskers who can manage multiple workflows to meet deadlines.
5.UX/UI designer
This role translates the expectations and needs of the user into the look and feel of product assets. They improve the user experience by conducting user research, defining interactions and implementing design solutions. They work closely with the design, marketing and engineering teams to achieve a harmonious interface for users.
This role is perfect for tech-oriented creatives who believe that design can make or break the product. Their mission is to take innovative technologies and make them user-friendly. They are detail-oriented in monitoring new changes and identifying interface issues for troubleshooting.
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Meet Grounded’s own class of blockchain entrepreneurs!
Check out our website or email us at hey@grounded.work.
