Last updated on February 2nd, 2022 at 09:30 am
Blockchain technology is the changing face of trading. It can speed up the transaction process and will also help reduce the trading cost. Currently, the market uses third-party websites for smooth trading which is a time-consuming process.
Blockchain can eliminate this middleman and connect the participants directly to each other. Since the actual functioning and the settlement are done using this technology, the overall efficacy is improved helping in better liquidity of the market.
A Cloud DevOps engineer can easily handle the necessary operations and bring transparency for the financial institutions or private parties. The smart use of the Cloud combined with blockchain and the data from IoT devices helps the Forex companies save every second of the trading that is valuable for them to make or break a deal.
What are its benefits?
The Forex companies use this smart combination of technologies to have cost-effective trading processes, especially for the malleable foreign exchange. The backbone created by the blockchain creates an impenetrable ledger and encrypted orders which are later available for accountancy and compliance.
Even though the transactions will be available on a public network, it will be difficult to manipulate it, maintaining its authenticity and preventing any kind of fraud.
The challenges ahead
As beneficial as the cloud, blockchain, and IoT is for financial trading, there are certain challenges that one cannot ignore.
One of the challenges that the traders would have to face is the sheer volume of transactions in a short period. A larger volume could feed the volatility of the foreign exchange which would trigger a sizable loss as well. This is one reason why investors are concerned about the widespread use of blockchain technology in the market.
Another challenge would be the transparency of the trading and transactions while it is advantageous for the independent traders, the majority of financial institutions find it a disadvantage. Certain investors handling the high-level market are concerned that their competitors will be able to leverage their data and would replicate the same strategies for their gain.
Courses that can prepare you
Despite the various challenges involved, more and more financial institutions are willing to switch their trading through Cloud Computing and blockchain technology. So the requirement for qualified professionals is on the rise. Someone having DevOps Training in blockchain techniques will have a clear edge over those who have completed a regular Software engineer course.
The SCBI or the Certification in Software Engineering for Cloud, Blockchain & IoT is a 9-month course offered by the IIT Guwahati. Completion of this course can make you an expert in either Blockchain technology or IoT with the help of a project at the end of the course. A project certificate will also be issued upon completion.
This course gives equal emphasis to Cloud computing, IoT, and Blockchain technology. The career options available at the end of the course include IoT Engineer, Blockchain Developer, Lead Software Engineer, Cloud Engineer, etc.
Conclusion
However challenging the use of blockchain is for any financial institution, they cannot ignore its benefits in the form of security, accessibility, and efficiency. It suggests that this technology is here to stay for the long term. So having knowledgeable and skilled professionals will be an asset.
Those who opt for courses such as SCBI would be smarter to prepare themselves for the job market having the necessary skill sets to their credit. The courses such as these are short-term and are worth every penny spent on them.
