Why the Swiss job market is banking on blockchain

Posting date: 05 August 2020

Switzerland’s strong reputation as bankers, chocolatiers and watchmakers didn’t come about by chance. Their dominance in these markets is a result of a focus on exceptional service and high value products which has earnt them the second highest GDP per capita worldwide. Emerging industries such as blockchain are benefiting from Switzerland’s prominence in the global marketplace and are gaining noticeable momentum. This reputation has enabled the nation’s Crypto Valley to establish itself as blockchain hotspot, attracting 100 new businesses in 2019 and creating over 1,000 jobs. Here are four reasons why the Swiss job market is banking on blockchain.

 

Blockchain is the answer to our security issues

Bitcoin made its entrance in 2008 and questions began flying as to whether the digital currency could be trusted. Enter blockchain, which provided the security to users by recording chains of information about the transaction - but now fast forward to the year 2020 and a new security issue has emerged. Covid-19 has exposed a growing threat to data security, and yet again blockchain technology has stepped up to the mark and exposed a growing demand for blockchain developers and site reliability engineers among other IT professionals. This illustrates how the technology will help protect the global economy and may even be used to prevent crises in the future.

 

A growing digital token market

In 2017, a surge in initial coin offerings (ICOs) led to the hub of token-funded projects in Zug being named Switzerland’s Crypto Valley. An ICO is the most effective way for start-ups to generate investments and for this reason they’re commonly thought of as a source of crowdfunding.

While fintech start-ups and other new businesses rely on this method for raising capital, the smart contracts rely on blockchain technology to provide the digital tokens.

 

Despite the amount of published ICOs flattening after the peak in 2017, there remains a steady number of launches each year and Switzerland just misses out on a medal in the worldwide rankings for capital raised from ICOs, coming in fourth place with an impressive total of $2 billion. Technology professionals can expect their blockchain skills to remain in high demand as Initial Exchange Offerings (IEOs) and Security Token Offerings (STOs) steal a share of the digital token market.

 

A government who is backing blockchain

Switzerland’s National Council have held back from applying tax laws to digital tokens which is cause for celebration for the cryptocurrency market and in turn for blockchain technology. While the market remains in its infancy, the government will not apply capital gains tax legislation on any earnings and in doing so hopes to encourage more investments. Though this exemption can’t be expected to continue well into the future, it gives ample time for blockchain to put down roots in Swiss soil and establish a strong job market.

 

In addition, the National Council have announced a legislative package, passing several new laws that are designed to eliminate the legal obstacles that apply to blockchain and distributed ledger technology. This will attract more blockchain start-ups to Switzerland, and professionals with expertise in this field will reap the benefits as the nation asserts its dominance in the global blockchain market.

 

Working remotely

Shortly after the turn of the decade, workplaces around the world had to solve the puzzle of continuing business operations whilst observing social distancing. Thankfully, for companies in the blockchain space, working out the logistics was far easier compared to other industries and moving their teams online has revealed some added benefits such as increased productivity. Now the challenge lies with product managers, technical business analysts and their IT colleagues to master the art of maximising productivity when working from home.

 

Since the outbreak of coronavirus, Blockchain has proved itself to be an essential and resilient industry, and the Swiss job market’s confidence in the technology will continue to grow as our world continues on the path to digitalisation.

 

Apply for a role with Swisslinx today

Are you banking on blockchain? Our consultants at Swisslinx understand the importance of keeping a keen eye on technology drivers and trends such as blockchain. This deep understanding of the industry enables them to identify the top talent and place these candidates in organisations at every point of the scale – from boutique start-ups to global corporations. View our vacancies in financial services or explore our digital and technology jobs to start your application.

What key skills does the modern developer need?

Information technology departments all over the world have been scrambling in the past few months, with many IT professionals suddenly tasked with the daunting role of mobilising a remote workforce, seemingly overnight. Looking ahead, IT spending forecasts suggest there will be ongoing demand for cloud infrastructure services as businesses continue to work remotely, according to Deloitte. The same goes for communication and telecom services and software. And with more companies using online technologies and software than ever before - to work, collaborate and communicate – we're seeing increasing demand for information technology professionals. Working in information technology recruitment, we make it our business to keep a close eye on market trends and skills in demand by employers. Through this, we’ve seen developers continue to be sought out for companies across Switzerland and further afield. If you’re considering your next career step and want to make sure you stand out to potential employers, consider the following key skills that every modern developer needs. Coding languages Developers and programmers must have a firm knowledge of at least one coding language, such as Java, C++, JavaScript or Python. Most software developers in today’s technology landscape will be expected to know JavaScript, which has been ranked as the most popular developer language for seven years in a row. JavaScript is used alongside HTML and CSS for front-end web development. Meanwhile, user-friendly Python is an ideal language for beginner developers to pick up for back-end development and desktop applications, along with C++ and C# for game and mobile development. Whether you’re a skilled java developer or a creative C++ coder, it’s a clear competitive advantage to have deep experience in at least one coding language, and ideally be familiar with others too. Cloud expertise Cloud computing is one of tech’s biggest boom areas now, with companies of all sizes shifting their environments to the cloud for ease of access, cost-saving and scalability. Many programmers and developers will find themselves needing to work with cloud-native applications in the near future, particularly if they’re working in the development fields of data science, artificial intelligence and machine learning. There are entire roles devoted to cloud development, where you’ll be expected to have database and programming skills along with Linux and cloud platform expertise, such as Microsoft Azure, Amazon Web Service and Google Cloud Platform. Even if you don’t want to become a dedicated cloud developer, it’s still well worth developing some cloud skills to have access to more programming jobs in the future. Flexibility and problem-solving skills The modern developer needs to be reactive and quick on their feet. This is particularly true in the post-Covid landscape, where many organisations are entering ‘sink or swim’ mode and some are completely reinventing their business models and service offerings. The rise in remote work and conferencing platforms and online cashless solutions have contributed to a predicted tech industry increase from US$131bn to US$295bn by 2025. This boom is creating challenges for developers to react to, but also an abundance of opportunities to be innovative and creative. Modern web developers should be agile and curious, always challenging the status quo and prepared to look for new solutions and ideas. Doing so will help to remain relevant in the changing job market and stand out to IT recruitment agencies. Find your next developer job at Swisslinx Swisslinx has deep experience in digital and technology executive recruitment, helping to match brilliant candidates with exceptional companies. If you’re looking for your next programmer or developer role, we’d love to help. View our latest digital and technology jobs here or contact us to see how we can help.

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Transferable skills that are essential in the new world

Transferable skills are those capabilities that are relevant across multiple industries and various job roles. Candidates with these widely-applicable skills are more flexible, something which is paramount in an ever-changing job market. The Swiss Skills Shortage Index 2019 reveals engineering, pharmaceuticals, technology and law to be some of the most in-demand job areas but what core abilities are most sought after in today’s recruitment scene? Here are four transferable skills that will ensure you succeed in the new world.   Adaptability Adaptability was listed in LinkedIn’s top five soft skills for 2019 and 2020 has seen this skill jump right the top for many organisations. The pandemic has presented a make or break situation for businesses, but fast-thinking decisions have kept many afloat and have even unlocked new opportunities in uncharted markets. This ability to respond to changes by adjusting priorities and applying new approaches is what makes a team agile and a business resilient. The new world signals an era where adaptability is critical for success in all markets, making it a must-have transferable skill.   Digital Prowess Coronavirus has put a rocket under digitalisation and companies are embracing the transformation. The working from home model went from a growing trend to an absolute necessity for businesses to continue providing their products and services. As such, collaboration software – including Slack, Asana and Google Sheets – became essential tools for keeping the wheels of the workforce spinning, magnifying the need for employees with a certain level of digital prowess. The quickening digital transformation will push companies in every industry to ramp up their search for the top tech talent and ensure they’re future-proofing their workforce.   Honing in on the technology job market, hiring managers are directing their attention towards candidates with software and automation skills. But there’s just as much a shortage of IT skills within this job sector as the wider workforce and the European commission has reported 756,000 vacant ICT jobs across Europe. While the IT skills gap is alarming for hiring managers there’s an opportunity for candidates to set themselves apart in the recruitment process, making digital prowess an invaluable transferable skill.   Emotional Intelligence Emotional intelligence (EI) ‘forms the juncture at which cognition and emotion meet’ and an individual’s level of EI determines many other factors, such as how well they communicate, their ability to empathise and their internal motivation. Not only that, 7 in 10 people who present a high emotional quotient (EQ) actually score better on intelligence tests than those with a high IQ.   With companies now embracing a flexible working pattern, relying on their team to collaborate virtually and remain productive whilst away from the office, employers are recognising how essential it is to have a cohort of emotionally intelligent workers. This soft skill enables employees to read social situations, engage in active listening and willingly accept constructive criticism, all of which makes for a great team player who is indispensable to a company.   Data Analytics Analytical reasoning was another skill listed by LinkedIn as a must-have for 2019 and as with adaptability, the lasting impacts of coronavirus have magnified the need for this hard skill. Data analytics cannot be confined to a few industries - instead it’s become a fundamental process for all businesses striving to stay ahead of the competition. Therefore, to be literate in data has become as important as traditional literacy skills.   Before the outbreak, the US Bureau of Labor Statistics estimated a 30% increase in jobs within big data in just 10 years. Now with more data being produced than ever before, businesses need to harness this information and use it to predict future changes in their market. Hiring managers in all sectors are pursuing employees who have a proven track record of analytical reasoning, who can draw insights from data and can make informed decisions. Those without experience in data analytics should not be discouraged bur rather take the opportunity to upskill and diversify their skillset.   Swisslinx is here to help you navigate the job market At Swisslinx, we offer a tailored service for each of our candidates, taking the time to understand your skillset and career aspirations so we can find the job opportunity that’s perfect for you. Get in touch to hear more about our recruitment process. Or if you’re ready to start applying take a look at jobs in financial services or healthcare and life sciences jobs.

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