The Future Of Work: Are Your Skills Up-To-Date?

Professionals, no matter the career, need to keep their skills up-to-date so they can compete with others on the same path. An essential skill nowadays is tech-savviness. But, if you want to be even more prepared, you should consider retraining and entering a tech profession. Here is why.

Why You Should Learn Tech Skills
It is not a secret that technology has taken over many aspects of our lives, including our house, workplace, entertainment, and much more. With new developments, this will only continue to grow. The first benefit of learning a tech skill is that you will have work opportunities no matter what. It is almost impossible to envision a future without technology.

Another thing is that automation and new technologies are replacing some jobs that humans used to do. They are expected to eliminate professions like customer service and even drivers. Accordingly, the second benefit is that you won’t run the risk of your profession disappearing, at least in the next decade.

Tech skills are also easy to learn because you don’t have to go to university to learn them. You can attend online courses or coding bootcamps, or even study on your own using free resources on the web. On top of all this, the tech industry has some of the highest salaries and incredible benefits and perks. If you are considering retraining for the future of work, tech skills are the route to take.

Data Science
This tech skill is one that needs a high technical level. If you are good at math and statistics, then this may be the correct choice for you. Some of the main responsibilities of data scientists include wrangling data, creating A/B testing models, and designing artificial intelligence algorithms.

These professionals have become in high demand because of data. Everything we do on the Internet generates data. The same goes for everything we do with our smart devices. Data scientists help businesses analyze that data and generate powerful insights that lead to more revenue.

Anyone can learn to be a data scientist, even if they don’t have a technical background, in which case they simply have to put more effort into learning the concepts. Flatiron School offers a complete course to become a data scientist.

Machine Learning Engineer
Machine learning a type of artificial intelligence to program computers and machines to learn. These engineers create models that train the machine. Later, the computer can respond to new data on its own. It is being used in different industries to automatize processes and operations.

For example, in healthcare, many scientists are exploring AI technologies to save lives. They already use machine learning to create an algorithm capable of detecting malignant breast cancer with 99 percent accuracy.

This career also requires some math and statists knowledge, but nothing that you can’t learn. If you want to make an impact in the world, this is probably one of the best technologies to learn right now. You can also become a machine learning engineer with a coding bootcamp or online course. It depends on the company, but most tech giants accept professionals without a bachelor’s degree as long as they prove their skills.

Software Development
Software development is the process of designing, deploying, and maintaining programs, applications, and software in the devices we use every day. Software developers create operating systems that make possible the use of our smartphones and computers. They also develop programs like Microsoft Office and Photoshop.

It is obvious why this skill is in high demand. Many companies even outside of the tech industry need these professionals. Software development is also one of the most popular skills for remote work. You can learn with Coding Dojo’s software engineering course. You can also try out some free courses first to know if is something you like.

Blockchain Literacy

Blockchain is the technology behind cryptocurrency. This technology started with Bitcoin but now has a lot more applications than just cryptocurrencies. Blockchain has the potential to improve security in almost all aspects of online platforms. Everyone should learn how this technology works.

You can start by learning the basics like what is blockchain and how it works. Then move to other concepts like decentralized apps, ledgers, and public and private keys. You can also read about some real applications of these technologies in different industries. Blockchain will be part of our future and it is important to understand it.

For further resources up-to-date , listing the top seven courses where you can learn the fundamentals of blockchain technology for free from edX, Coursera, Udemy, and Pluralsight check out this article from Java programmer Javin Paul.

Guest post from Artur Meyster (Twitter / LinkedIn), who is the CTO of Career Karma (YC W19), an online marketplace that matches career switchers with coding bootcamps. He is also the host of the Breaking Into Startups podcast, which features people with non-traditional backgrounds who broke into tech.

The current state of accounting for crypto

While the current boom in DeFi is grabbing the headlines in the crypto sector and beyond, one thing remains from the heady years of the ICO and bitcoin bull years of 2017-18, the need for fit-for-purpose accountancy which can meet the challenges in 2020 faced by crypto businesses created by their customers and financial regulators. In such a new sector as crypto, which includes both cryptocurrencies and assets, part of the challenge for accounting professionals is ensuring the systems they put in place meet commonly agreed standards.

Regarding crypto assets, according to International Financial Reporting Standards (IFRS) the bible for accountants worldwide, there is no direct guidance on crypto accounting and a lack of industry best practice. Which in short means how crypto assets are managed for accounting purposes potentially could come under a range of accounting standards. To complicate matters further, the crypto business’s reason for holding such assets is also a determining factor in which accounting approach is the correct one to use. In other words crypto is unique in that it does not fit into any existing asset class previously defined by accounting standards.

Similarly, with cryptocurrency this range of classifications and how they are measured for accounting purposes, accountants need to both understand the nature of the cryptocurrency in question, as well as the reason for the business holding that particular asset. In other words, if you are a crypto exchange for example, it’s particularly important to get this approach right from the outset to ensure consistent application of accounting policies.

The current state of accounting for crypto

On a practical level, putting aside the accounting standards issues, there are a number of common account challenges ranging from recording a multitude of transaction types from airdrops to hard forks, to determining the fair market value for assets, to determine the tax implications for customers and for the business itself. To manage such a complex range of data is obviously a key driver behind the development of crypto-specific accounting software, to help simply the accounting process for crypto-centric businesses, and individuals. And as with all business software solutions, it’s worth considering not just the overall cost, and functionality, but also the level of customer support available.

A key advantage of Crypkit is that it’s built from the outset to enable crypto businesses to manage their accounting, rather than a bolt on to an existing accounting system. Including both fiat and crypto, it not only tracks DeFi protocols, it is also powerful enough to provide correct tracking of the required data across exchanges, blockchains, DEXes and other DeFi platforms. And as a system built with crypto customers in mind from the outset, it can deliver correct tracking of various smart contracts and systems of smart contracts too. In comparison many of the ‘usual suspects’ including accounting platforms such as Xero, while they offer integrations available through services like Zapier, they don’t have the power and flexibility to manage crypto businesses in such an integrated crypto accounting platform.

As Steven Borg, VP Finance at Gnosis, a recent client said following onboarding: “When I first connected our crypto wallets and exchanges to Crypkit, I quickly appreciated how logical and well structured Crypkit is. I could find every data point exactly where I´d expect it. All our analytical and accounting information is just one click away”. It’s also worth noting that the custom changes made to accommodate Gnosis, speak to the level of customer service crypto businesses require to meet their specific accounting needs, faced with unexpected accounting needs arising from new regulations.

The future for accounting for crypto?

So what does the near future look like for crypto accounting, what needs to change or is likely to change in this dynamic sector, faced by new ventures such as Facebook’s Libra (recently renamed Diem) and the first central bank digital currencies (CBDC) coming on stream? Clearly setting aside the importance of robust crypto-platforms such as Crypkit, there needs to be clarification around accounting rules and regulations. This ranges from cryptocurrency taxation for both exchanges and traders, through to establishing best practices working with national and global accounting bodies to ensure training is part of standard accountancy qualification in the future.

The uncertainty while regulatory bodies are still deciding how to deal with crypto assets and currency is one factor holding back mainstream adoption. But it’s also clear, for example looking at the report from PwC in December 2019, that attitudes are starting to change as the world changes to meet the twin shocks of COVID-19 and the resulting global recession: “At issue is how to recognise, measure and disclose activities associated with the issuances of, and the investment in, the various types of cryptographic assets. Since there are no accounting standards that specifically address cryptographic assets, one must look at the existing IFRS and apply a principles-based approach.”

Leading the industry with its standalone solution Crypkit demonstrates that accounting technology will need to possess the necessary flexibility and performance, in its software architecture and customisation, to meet the changing landscape of rules and to deliver best practice accounting. Accounting is the key to adoption of digital currency and assets amongst mainstream businesses and to enable crypto businesses to meet the demands of regulators and customers, whether global businesses or individual crypto users.