Apr 21, 2017 09:40 AM EDT
Demand for Data Scientists Increases with Introduction of Latest Finance Technology [Video]
Latest advancements in finance technology has brought drastic changes in demands in the job market. The demand for data scientists soared while job positions for people with Masters in Business Administration dwindled.
The shift prompted top business schools in the US to incorporate courses that will make their graduates qualified for these future jobs. Blockchain technology and cryptography were added.
Some schools have been offering these two subjects since a few years ago. Stern School of Business of New York University has incorporated blockchain and digital currencies in its curriculum since 2014. The school included these two subjects after realizing that Wall Street wants to hire data scientists and not people with a degree in Masters in Business Administration or MBA, CoinDesk reported.
A student from Duke University's Fuqua School of Business took these courses a few years ago. Now, he occupies a high position in the company where he works. In fact, knowledge about blockchain and digital currencies brings a great advantage when applying for a job because competition is very low.
Bitcoin is a digital currency that can be used to pay directly for goods and services even if a person has no bank account or credit card. Payment is person to person. Bitcoins are entered in the blckchain which serves as ledger. Using a personal key, the block or ledger can be opened. People skilled in blockchain technology keep a record of transactions and the person can see his bitcoins in the blockchain that serves as ledger, CNN Money reported.
While the blockchain can be made public, no names are used. No one will be able to know who owns a certain amount of bitcoin. Because personal keys are used, only the owner can open his ledger. This makes transfer of funds fast, easy and safe.
Most companies will be using this technology in the very near future. If this happens, all students that had studied these courses can land a job in no time at all.
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