Blockchain has emerged as a promising technological alternative for enterprises all over the world. It has proved to be a promising technology for addressing complex problems. As a result, the promises of blockchain technology for enterprises also translate directly into demand for blockchain skills. On the other hand, you can also find various data points for validating the rise in demand for blockchain professionals.

"According to Glassdoor, the demand for blockchain-based jobs showed a growth of 300% in 2019 as compared to the previous year."

Based on your knowledge of the blockchain landscape, you might have explored some of the promising career options in the blockchain.

However, what exactly makes blockchain one of the most in-demand skills in 2020 is one of the prominent concerns. If you want to explore the reasons for which blockchain is one of the most demanded skills in 2020, then you have arrived at the right place.

The following discussion takes you through some of the important statistics showcasing the dominance of blockchain across various sectors. In addition, you can pinpoint specific themes that drive the demand for blockchain as one of the top tech skills. Furthermore, you can also find out reliable and authentic information about career opportunities with blockchain technology.

Blockchain and the Potential for Growth

Many readers must have gained a basic insight into blockchain technology. The arrival of cryptocurrencies turned the world’s attention towards blockchain. Since 2009, blockchain technology has come quite a long way in becoming one of the frequently uttered terms in corporate board meetings. Therefore, the demand for blockchain skills is not just an outcome of the introduction of new disruptive technology. Enterprises need blockchain professionals with the skills to help them leverage most of blockchain technology for driving their business objectives.

Many research firms have constantly pointed out the possibilities for manifold increase in the investments in blockchain technology. By 2023, the worldwide expenses on blockchain solutions would be valued at almost 15.9 billion. As of 2019, the worldwide expenditure on blockchain technology was $2.7 billion, with promising disruptions in the finance sector.

In addition, the value of blockchain for the food and agriculture industry amounts to $41.9 million, thereby showcasing the potential of blockchain technology beyond the finance sector. According to the 2020 Global Blockchain Survey of Deloitte, almost 39% of senior executives and practitioners have adopted blockchain into production.

If companies worth more than $100 million in revenue are taken into account, the share of blockchain adoption increases to 41%. Therefore, the potential for growth in the blockchain industry serves as a prominent reason for the increased demand for blockchain skills.

Reasons for the Increasing Demand for Blockchain Skills

So, what exactly does blockchain provide for enterprises that increase their demand? Blockchain is the top tech skill in 2020, with the rising focus on digital transformation. In event of the recent pandemic crisis, businesses had to reform their supply chains and conventional operations. With customers at home, businesses want solutions to reach them where they are. In this case, blockchain can serve the following advantages, thereby proving its necessity as a skill in 2020.

• Blockchain and security go hand in hand with the storage of information throughout a network of computers in comparison to a single server. The decentralized storage of information and lack of single ownership resolves any threats of hacking transaction data.
• The demand for blockchain skills in 2020 is also increasing largely for transparency facilitated by blockchain technology. It is practically impossible to alter any records in the blockchain without the knowledge of other network participants. One small change in any record could reflect directly on the entire chain, thereby ensuring transparency of all blockchain records.
• The next important aspect that can answer the question ‘is blockchain a skill’ refers to speed of transactions in the blockchain. Blockchain takes away the need for intermediaries, thereby ensuring faster negotiations, settlements, and clearings. All records are maintained in a single digital ledger, thereby taking away any concerns for interruptions.
• Blockchain enables permissioned access to all network participants for the immutable data in the blockchain. So, there is no intrusion of middlemen, thereby presenting reliable prospects for reducing the costs of transactions by almost half.
• Most important of all, the demand for blockchain skills is increasing due to the traceability benefits of blockchain. Blockchain technology features an audit trail which finds out the origin of an asset and all the milestones it has been through. The audit trail showcases the identity of users involved in the modification of an asset in the blockchain along with the timestamp.

You can clearly notice that the above-mentioned benefits can help many enterprises achieve cost efficiency and performance improvements in the long run. Blockchain technology benefits establish the foundation for its demand among organizations that translates into demand for skilled blockchain professionals.

The performance of an organisation rests on the performance of its people and how those people are grouped together.

But how can managers and leaders get the most out of their staff? And how can they attract the very best talent on offer?

Jeff Grout is a professional speaker, consultant and coach specialising in people and performance. 

He breaks building high-performance teams down into two key activities:

• Hiring people with the right mindset
• Knowing how to get the most out of them

We caught up with Jeff to hear his advice for leaders who want to hire the best talent in their market and help them do their best work.

Hiring people with the right mindset

Jeff says he often begins his coaching and speaking sessions with a simple question.

“‘How many of your people would you re-recruit today?’ And then I say put your hand up if you’d re-recruit everyone on your team. From an audience of around 150 I get two or three hands.”

The vast majority of managers and execs will have some performance issues with their staff. But addressing these issues isn’t always easy. Jeff says that part of the problem is that hiring organisations look for the wrong things.

“I worked in recruitment for years and all the clients we worked with wanted candidates with specific experience, qualifications or skills. But the reality is that those things didn’t determine success. 

“The difference between someone being good or great at the job has much more to do with attitude and behaviour. Do they see the cup as half full or half empty? How determined are they? How committed? Employers should be looking for attitude and behaviour - not skills, knowledge or experience.”

So how can organisations focus on hiring people with the right mindset?

“They need to examine examples from the person’s career and how they approach situations. What were the outcomes of a situation and how did they feel about it?”

Something Jeff recommends is to ask candidates for examples of times when they’ve struggled or when the outcome was negative. This can give you an insight into how they respond to challenging situations, which often says more about their character than what’s gone well. 

“You also need to be conscious as an employer that the best candidates have choice - and the very best candidates have the most choice. So you need to able to provide a compelling answer to the question, ‘Why should I work here?’”

"If you want to stand out in their mind you need to do something different."

Most companies will reel off the same reasons: the growth of the business, its great team and good opportunities for progression. But if you want to stand out in their mind you need to do something different.

“What you need to do is give examples, just like you asked the candidate to. If you’re saying career opportunities, tell them a story of someone like them who joined three years ago and has had five promotions. If it’s about the working environment, describe it. What do people do in and out of work that makes it special?”

Another good way to get top performers interested in your business is to give them the chance to chat to a current employee who loves their job. Hearing someone on their level say that you’re a great employer is very persuasive.

Getting the most out of your teams

“You can’t lead people you don’t understand,” Jeff says. 

“So the first job is really getting to know the person who’s joined. What’s the name of their partner? What do they do at the weekend? What are their interests? And then finding out what they need from you to perform at their best. Some need a pat on the back, some need a sounding board, some need a harsh conversation occasionally.”

One of the qualities of high-performing teams is that they’re full of people who work well together. There’s a big difference between an individual performer and a team player.

Jeff calls this the importance of ‘teamship’.

“What are the responsibilities of teamship? I would say that the key responsibilities are collaboration, cooperation, communication, delegation, supporting and sharing. You want to interview people who have those characteristics so you create a team that works.

“You’re looking for teamship. And for people to take personal accountability so they don’t blame other people when things go wrong. 

“This comes back to asking for examples in the interview. You might ask for them to tell you about their current team. And then you might say, ‘What’s your role? Can you give me an example of when the team has pulled together? Or when it became fractured?’”

By hiring people who work well with others and have a sense of teamship, you increase the likelihood of being able to build high-performance teams.

How can you turn a team’s performance around?

Not every team will be high-performing, and managers and leaders sometimes need to course correct. Jeff says this process starts with having the right conversations.

“I think ultimately you have to bring the team together and have some honest conversations. Ask, what barriers are in the way of us operating well? What needs to be addressed? Do we have the resources? What can you as the leader do differently?” 

Jeff recommends a four question framework for gathering this feedback:

• What are the good things we do that we want to keep doing?
• What are the bad things we do that we must stop?
• What things do we do occasionally that we must do consistently?
• What things don’t we do that we should start?

Are there any quick wins for managers who want to improve performance?

The first thing is to find out the individual motivators for everyone on your team,” Jeff says. “And then it’s all about good communication. And when I say that I mean two-way communication. I interviewed Greg Dyke a few years ago for a book and said something that always stuck with me. ‘Leaders must first listen to earn the right to be heard.’

“Good communication is about asking the right questions. Communicate, communicate, communicate. It’s the glue that holds a team together. And right now communicating with confidence and authority is more important than ever.”

Of all the complaints I’ve heard about leaders, I’ve never heard anyone complain…

“I wish my boss would stop encouraging me. I get too much encouragement.”

It’s easy to miss the mark when you call people to face new challenges.

Good intentions backfire. Unexpected resistance knocks you for a loop. Perhaps you misread your team’s readiness to take on new challenges.

Encouragement – while facing challenges – never misses the mark.

“Only three in 10 U.S. employees strongly agree that in the last seven days they have received recognition or praise for doing good work.” Gallup

On target:

Occasionally I send a short text or email to leaders I know. It might simply read, “I was just thinking of you. I know you’re facing big challenges. You matter.”

The reply often reads, “Thanks, I really needed that today.”

It’s always the right time to say a good word to someone who’s facing challenges.

Try saying:

I notice you have been …

When I think of you, I think about …

When I see you at your best, I see you …

I notice how comfortable you are when you …

You’re so good at … (Name a result or skill.(

I’m thankful for you.

Thank you for rising to this challenge.

The blockchain and cryptocurrency sectors can be brutal sectors to operate in. Roughly 70​% of all tech startups fail, and by some accounts blockchain projects are even more vulnerable. In​ late 2017, well before the crypto winter of 2018, a Deloitte analysis concluded that more tha​n 90% of projects collapsed. What is it that makes blockchain so uniquely difficult? Is there a single problem that, once solved, would let all blockchain firms thrive? Unfortunately, the situation is more complicated. To endure and thrive, distributed ledgers must achieve four distinct, though interrelated, goals: scalability, enterprise adoption, accessibility, and regulatory compliance.

Scalability has long been a problem for blockchain applications; one of the stated reasons for Vitalik Buterin’s creation of Ethereum was his dissatisfaction with the Bitcoin blockchain’s sluggish transaction speeds. Visa runs thousands of transactions every second; Bitcoin might do seven in the same time period — the incumbents are exponentially faster. A scalable blockchain may not need to surpass Visa, since blockchain’s security and immutability are attractive propositions, but it’s vital that the number of blockchain transactions per second at least approach the payment processor standard.

While the blockchain business sector has its own trade press and its own corporate heavyweights, the value of the industry as a whole is small compared to the broader economy. Enterprise adoption of blockchain technology would bring untold value to the industry in contracts, trading volume, and transaction fees, but it would also accelerate the improvements that could eventually make Distributed Ledger Technology (DLT) indispensable to daily life. This is why 38% of enterprises plan on adopting blockchain solutions during 2020. Although the financial sector takes the lead in adopting the technology, blockchain continues to penetrate other sectors such as healthcare, agriculture, real estate, law, and logistics among others. One example of real-time blockchain applications coming to the fore is the ‘Tech against Corona​‘ initiative where participating Dutch companies are supporting the response to the current COVID-19 outbreak. Another example is a permissioned blockchain networ​k in Argentina which​ has digitized the routine tasks of gas technicians. Global supply chain markets have also been quick to explore blockchain technology in a move to expedite routine operations and foster transparency. A noteworthy example is that of BMW Grou​p, who will guarantee traceability in​ multi-stage international supply chains by combining blockchain with cloud storage technology.

Computers couldn’t go mainstream when they operated on punch cards and BASIC — they needed to become more accessible and user-friendly. In a similar fashion, many blockchain projects remain stuck in the Proof-of-Concept (POC) phase whereby it’s possible to use these applications, but it’s rarely simple or intuitive. We cannot expect everyday users to remember or keep track of long hash codes, nor should prospective users have to understand complicated terms, advanced statistics, cutting-edge programming language, or graduate-level game theory.

Tomorrow’s best blockchain applications won’t draw attention to themselves; they’ll slot easily into the background of everyday applications and solutions.

Blockchain cannot reach its full potential without adhering to legal regulations. Though compliance is complicated and occasionally strenuous, failure to comply is more dangerous. Adherence to regulations is, of course, a hedge against risk. But just as importantly, it’s a spur to public confidence in blockchain. Compliance demonstrates responsibility and good citizenship, and increases public trust and interest in DLT.

If we are to achieve mainstream adoption of this nascent technology it’s crucial that we bridge the gap between traditional legacy companies and blockchain. With demand for blockchain tech​expected to continue to rise, we will need to see improvements in scalability, accessibility, and regulatory compliance. As is typical with revolutionary innovations, blockchain will bring about​ meaningful change to traditional business but it will not occur overnight.

Disruptive Technology has in the last few years altered significantly the operations of many business and industries. This happens when more superior habits of doing things that come along with the disruptive technology are introduced in the current system and replaces the common habit of doing things. Backdated to 2008, Blockchain technology is a form of disruptive technology that is bringing changes in operations of the businesses especially in the banking industry.

Blockchain technology comprises currency values such as Bitcoin, Dogecoin and many other currencies that are powerful, secure anonymous and open to anyone that may need to use them. With the technology that is associated with Blockchain, it can offer a database that keeps track of every transaction that takes place over the currency values such as bitcoin. The decentralization and transparency features of Blockchain such as the availability of the transaction details metadata in public ledgers that are easily accessible make the technology have a great impact on the banking system.

The banking system handles millions of funds transfer on daily business from one area to another in the world making it an area where Blockchain has impacted in terms of operation. The sector is benefiting from the application of Blockchain technology due to its proneness to errors and fraudulent transactions. This has led to the move by Fintech institutions to adopt Blockchain as a form of transaction. This is because Blockchain technology in banking system has the potential to outdo the need for the manual processes involved in the banking fund transfer system by replacing it with the secure transaction and assuring the clients safer ways of fund transfer which does not even involve as much transfer costs as those used in banking systems. 

Although Blockchain technology was not well accepted in the banking industry, the theory is changing and the technology is now well accepted. This has been mainly connected to the success rate of Blockchain technology in many industries. Large banking institutions such as JP Morgan have shown interest in Blockchain with the American multinational investment bank setting up a whole division they named Quorum in New York to perform research and implementation of Blockchain technology specifically. Reasons for implementation of the technology include;

Saving on transaction costs

One of the reasons as to why banking is adopting Blockchain is because of its ability to enable banks to save a lot of money in terms of transaction costs. Normally, fund transfers from one region to another involve certain costs due to currency variations from one region to another and involve some paperwork. Since Blockchain is offering this option of transfers without these costs and paper works, banks are keen to grab this opportunity. This has been the source of the wave of Blockchain implementation by the major banks since the saving transaction costs will result in millions of extra profits. 

Reduction of fraud

Another reason for the heavy jump-in into Blockchain technology in the banking system is because of the rate at which the normal transactions are exposed to fraudulent activities. Blockchain will achieve this through the removal of intermediaries. Over 50% of money laundering is said to happen within the transaction system where intermediaries such as stock exchange play a big role in this.  Therefore, the technology is estimated to have a great impact on the banking system where it will also protect the bank against the chances of cyber-attacks in the banks’ database. 

The new set of millennial customers

While clients are changing, today’s and future generations are expected to rely so much on technology. Currently, the young clients’ generation is growing in a well-networked environment with a lot of knowledge in crowdsourced funding and online transactions. These have made the banking industry to adjust to Fintech to be able to deal with these millennials by adapting and adjusting to Blockchain technology in their system. This will enable the millennials to perform their business transactions without the intervention of the so-called ‘big boys’. 

Trade finance

These activities mainly compose of paperwork transactions in the banking industry in transactions such as billing and factoring with also some international transfers in exports and imports. This area is seen to be most efficient when transactions are done over Blockchain Technology. Movement of these transactions, especially worldwide can be quickly accelerated using this technology under the smart contracts that digitize the transactions and also prole the role of documentation.

It is therefore expected that Blockchain technology will continue to impact the banking system due to the increase in innovation in the Internet of Things which is revolutionizing many industrial sectors.

Too often we hide behind our titles and adopt a suit of armour that has been handed down by generations of strong managers. If we were to lose that suit of armour, and become human, then surely we will show weakness that will be exploited. On the contrary, human managers are the strong ones. Those who are prepared to say “I don’t know the answer,” “I screwed that up” or “I’m having a tough time right now.” Doing this in a more modern world brings with it respect and a level of empathy that builds a truly human connection, writes Mark LeBusque

“The old rules are crumbling and nobody knows what the new rules are. So make up your own rules.”— Neil Gaiman

Why are organisations hanging onto a management style and rulebook for managing humans that was established over 100 years ago?

It doesn’t make any sense to me at all.

I say it’s time to throw out the old rulebook, and it starts with ceasing the reinforcement of archaic management misconceptions about the dangers of being too human as a manager.

Here are my five misconceptions that you’ve no doubt heard or been given in the unofficial ‘managers rulebook’ that’s handed out when you are taking the big step into managing people:

Don’t get too close to your people
This has been rolled out in every Management 101 handbook since the days where humans stood on a production line undertaking purely transactional-based activities. They’re only units of labour, not worthy of a manager’s time to build a human relationship with. Why would you do that? It only makes it harder when you have that difficult conversation and maybe even fire them one day. How wrong we have been on this one. Building deep relationships helps to create a connection and level of trust that takes away the “us and them” mentality. It inspires and motivates humans to tap into their discretionary effort and even come up with innovative ideas they are willing to share.

Listening, curiosity, creativity, emotional intelligence, people management and cognitive flexibility are just some of the skills the progressive managers now have in their kit bag. It’s not about how many widgets you’ve sold, made or designed anymore. It’s about how you use a human approach to allow others to do this important work.

Being human opens you up to showing weakness
Once we strip away title and rank, all we have left is a human being. That’s what organisations are made up of. Too often we hide behind our titles and adopt a suit of armour that has been handed down by generations of strong managers. If we were to lose that suit of armour, and become human, then surely we will show weakness that will be exploited. On the contrary, human managers are the strong ones. Those who are prepared to say “I don’t know the answer,” “I screwed that up” or “I’m having a tough time right now.” Doing this in a more modern world brings with it respect and a level of empathy that builds a truly human connection. It will also give others permission to step into their vulnerability.

There are two of you – a manager and a human, don’t mix them up
There’s a real craziness about this idea that we have to show up as two completely different humans’ dependent upon the environment. You know how this goes. Be totally professional at work, roll out the corporate lingo, impress the boss, be the boss, toe the company line and above all, just keep hitting those damn numbers. Once you leave the office, it’s ok to relax a little once in a while (as long as you’re also up for swapping back when that email or call needs attention late at night), be that goofball, share a few mum and dad jokes, get around in your daggy clothes pursuing some strange hobby. Here’s my tip. Just turn up as you.

You need to know the job technically to gain the respect of the team
Here’s another old corporate fairy tale.

You’d better know the technical aspects of the job in order to be respected by those who you are managing. In case you haven’t heard, there are these humans today who have future-proofed their careers by developing transferable skills. These skills are used to inspire, engage with and motivate other humans to do the technical work they love doing. Listening, curiosity, creativity, emotional intelligence, people management and cognitive flexibility are just some of the skills the progressive managers now have in their kit bag. It’s not about how many widgets you’ve sold, made or designed anymore. It’s about how you use a human approach to allow others to do this important work.

Building deep relationships helps to create a connection and level of trust that takes away the “us and them” mentality. It inspires and motivates humans to tap into their discretionary effort and even come up with innovative ideas they are willing to share.

There’s no way to measure the “human stuff”- show me the data and I’ll be Human
“If you can’t measure it you can’t manage it.”

These nine words are almost the final resistance to accepting in order to be successful we don’t have to measure everything to its minutia.  When you hear this, be sure that it is the old management system nearing its last stand. The thing is this. Why would we want a KPI sheet to capture how many times we were helpful, thankful, caring and open to having fun, or even worse, showed empathy or vulnerability? Measurement is important, don’t get me wrong, but we should be very careful to use it as the only way to gauge success.

When someone hands you a copy of the 100-year-old rulebook, politely say “thanks, but no thanks.”

That’s what it is to be human.

What will happen in the future when blockchain and tokens spread? Where are the new business possibilities? We would like to hear from experts who are involved in blockchain from various perspectives.

Blockchain technology has the potential to become a next-generation social infrastructure. Now, not only virtual currencies but also applications in the financial field are accelerating.

 If this technology matures in the future, it may apply to non-financial fields such as asset transaction history management, real estate registration, and public services. The digital asset token issued on the blockchain is also attracting attention. 

What will happen in the future when blockchain and tokens spread? Where are the new business possibilities? They would like to hear from experts who are involved in blockchain from various perspectives.

From virtual currency to non-financial fields

New technology blockchain that expands application possibilities. As a new technology, the blockchain is said to have various impacts. Why is it said that blockchain is such a revolutionary technology?

Blockchain is a technology created for Bitcoin, but now the main customer has completely reversed, and it is talked about in what kind of field blockchain should be used. 

As you know, blockchain was first applied to cryptocurrencies. It is generally called blockchain 1.0, and the next application example in the financial field is blockchain 2.0. 

Recently, there is a movement to apply it to real estate registration and asset management. Those non-financial fields are called blockchain 3.0.

To put it simply, the advantages of blockchains are that unauthorized transactions and tampering of data cannot be done, centralization is prevented, and centralized management does not lead to system downtime, operating cost reduction can be expected.

 Financial institutions around the world are currently conducting field trials because of the low operating costs. You think it's a big point that it can be made smaller and simpler than the conventional large-scale centralized system.

You mentioned that financial institutions are conducting proof-of-concept tests. What kind of impact do you think Yamada-san will have on blockchain technology for financial services or financial institution businesses?

Cost and security issues are very important perspectives for financial institutions. For the past two years or so, they have also conducted various demonstration experiments. What happens if you use the blockchain for syndication co-financing by multiple financial institutions under the same conditions and custody, storing and managing securities in securities investment?

In the case of financial institutions, the fact that there is no tampering or system down can be achieved even with existing systems, and it is not a serious issue in applying blockchain, so improving dramatically is This means that convenience is greatly improved and the cost is reduced.

 From that perspective, adding blockchain to syndication does not mean that it will be epoch-making. The reason is that the world of syndication is not an unspecified majority, but deals with about 50 fixed companies. The bitcoin up is best for the easy bitcoin trading as well as selling.

Similarly, of the mechanisms they've been working on so far, this can only be done on the blockchain, and he can't find it so far without some breakthrough. If so, is there any significance in changing what Excel can do to blockchain?

 For a while, he used to say that it was a blockchain as if it had been heated up, but it has become a little cool, and it is changing from thinking what is suitable for a blockchain? Practical examples are increasing overseas. Will the application to securities settlement be realized within a few years?

How do you use the blockchain? 

As said earlier, this must be needs-oriented. For example, international money transfer and trading companies

 Regarding international remittances, users have been frustrated by the fact that they are slow, high, and hard to understand. Ripple and others in the US are trying to solve this problem by using DLT technology Distributed Ledger Technology.

 In trade finance, in this IT world, quite inefficient things such as mailing and checking paper credit are performed. The parties have been dissatisfied with this all the time.  Therefore, the idea is to use blockchain to eliminate such inefficiencies.

The Magic Wand:

If you waved a magic wand over your team, what would emerge when the smoke clears?

During a team meeting, make a list of words that describe the team you aspire to develop. (Yes, you love your team. But what would cause you to love it even more?)

Describe your aspirational team.

Energetic team.
Accountable team.
Interactive team.
Decisive team.
Growth-oriented team.
Happy team.
Courageous team.
Focused team.
Compassionate team.
Organized team.
Supportive team.
Visionary team.
Flexible team.
Solution-oriented team.
Collaborative team.
Proactive team.
Innovative/creative team.
Dependable team.
Candid team.
Trusting team.
In-your-face team.

So, what does make a great boss? Is your boss “The Good Shepherd” or maybe “The Devil Wears Prada”?

While some employees may love their bosses – especially when some line managers are willing to go the extra mile for their employees:

“My boss offered to skip an important meeting and loan me money to drive me to get my car after it had been towed.” Male employee – West North Central

 – others are not so loved:

“I’m quitting my day job because my boss berates people in public for no reason.” Female employee – Pacific

And when Totaljobs investigated the relationship between bosses and reports in the UK, they also found signs of managers not doing as well as they thought they were.

To check the state of employee/boss relationships in the US, Good&Co asked the same relationship questions to 288 managers and 656 employees. While in the US, the relationships between direct reports and line managers are faring better than the UK, our study identified key areas where there could be room for improvement.

Bad Communication = More Stress

Our data showed US bosses felt competent in their management abilities, scoring on average 7.6 out of 10, with three out of five (59%) rating themselves highly (anything above an 8). And while employees rated their bosses on average, 7.1 out of 10, only one in two (52%) agreed their boss was highly competent.

Bosses who think they’re performing better than they are, suggest lousy communication as a common factor between them and their workers. This may explain why Korn Ferry’s survey found 35% of US employees said their boss is the most stressful part of their job. With this result, it’s hardly surprising that 55% of Americans are stressed during the day, 20% higher than the global average of 35%, and are looking to quit.

One impact of mixed signals from bosses is a sense of distrust in the workplace. While only half the number of employees feel they can trust their boss (49%), only one in three managers said they believed their workers (34%).

“Some of my employees are shifty. They will do exactly what is asked of them, and then behind your back complain about it and get pissed that they can’t sneak in extra breaks.” Female middle manager – South Atlantic

It seems the majority of bosses also feel unappreciated – only around a third said their reports understand how hard they work (37.5%).

The high level of mistrust among employees could also signify that a coercive leadership style is present. Bosses who manage with this style demand complete compliance, which ties in with the higher levels of compliance we found for reports (6%). A lack of trust could also be in light of the #metoo movement still being strong – whereby managers are nervous about litigation.

Despite a lack of trust, bosses are happy to socialize with their reports out of work (65%), reports, however, don’t feel the same. About 70% would never socialize with their boss out of work, while 18.5% would avoid them if they saw them outside.

Some employees said they found it awkward socializing with their boss, or claimed they had little in common. Others worked remotely and felt a complete disconnect with their boss.

“I’ve never actually met my current boss since I work remotely from home in Florida and they are in California. I don’t even get any communication from him/her.” Female employee – South Atlantic

When we looked at their personalities, we found bosses are 13% more sociable and enjoy networking more than employees. After all, bosses are also more likely than their employees to want to be in the top job (17%). How? They may use socializing and networking as a tactic to get themselves promoted, and their employees can see through this. This may also explain why the majority of bosses (65%) and reports (64%) view each other as colleagues – not friends.

Training to Build a Better Workplace

With only one in two reports (51%) rating their managers highly as workers, we wonder where they might be going wrong.

One possibility for discord could be a lack of training. Employees are unlikely to have received any training on how to communicate with their boss. Companies neglect leadership development, and managers are under-prepared for the role when they arrive.

Our survey reflects this – almost half of the bosses (40%) have never received line management training, and only 35% received it before starting the role. Just under a quarter said they received training shortly after officially starting line management duties (23%). Just under one in ten (9%), however, were given training when they began the role in a new company. For one in twenty, they weren’t given training until more than a year after taking on their role (5.5%).

While the majority of bosses who received training (81%) said they felt adequately prepared, it leaves us wondering about training quality and how management see their role.

We found most managers don’t feel competent when it comes to dealing with their employees’ problems. Only 13% of bosses said they feel confident in approaching their reports’ issues. Even more worrying, is only one in three felt confident dealing with their reports’ work-related problems (34%).

Employees haven’t stopped from going to their boss with problems, though. While only 24% would consider broaching issues with their boss, 70% are open about approaching them with work problems.

Perhaps bosses realize they are part of their employees’ work problems and steer clear, but it could also signify a lack of emotional intelligence. Both managers and workers had an average score of around 4 out of 6 for emotional intelligence, so while this figure is not worryingly low, it’s not respectively high either.

But are bosses reluctant to get involved with employees’ personal problems due to, as one manager commented, a fear of ‘crossing a line’ which might result in #metoo style accusations?

“For the most part the people that report to me are very respectful and I try to be respectful to them, however, dealing with personal problems of coworkers can be very awkward and finding the thin line that you can not cross can be a challenge.” Male – Pacific

It’s a pity some bosses feel this way when emotional intelligence skills are easily learned. Emotional intelligence isn’t just about being sensitive to other’s emotions. It includes, among other abilities, being able to read the temperature of the organization as well as being able to give feedback and guidance in developing others – critical components of management.

“The worst part of being a supervisor is having to do evaluations. Sometimes employees think they are better than what they are – they don’t think about all the negatives that they have done and think only positive things should be in an evaluation. It’s hard bringing things up to people.” Female manager – South Atlantic

But it isn’t just managers who’d benefit from better training in communication skills. Employees also stand to gain a lot from social skills training to help them talk to their boss.

For years, headlines about work flexibility have touted the idea of offering more options for employees to work remotely. Then COVID hit, and almost everyone who was able to work remotely was thrust into it—ready or not.

For some, this meant more flexibility, saved commuting costs, improved productivity, and more. But for others, the picture has been less rosy.

What Causes Burnout?

Let’s take a look at some of the reasons remote employees may be at high risk for burnout, especially now.

• It may be tougher to separate work life from home life while working at home, often leading to employees’ working longer hours.
• When work is staring at you inside the house, it can be more difficult to mentally switch off from it after the workday ends.
• A lack of commuting time may mean employees are actually working more hours.
• Being away from coworkers may mean less socialization, which means employees might have fewer ways to recharge during the workday.
• During COVID in particular, taking vacation time is an entirely different scenario. With fewer travel options and more reasons to avoid being around crowded places, many are opting to skip their vacation days.
• Fewer interactions with teammates may result in coworkers’ missing the signals that an employee is struggling, leaving problems unaddressed for much longer.
• Managers also see their team less often, making it less likely they’ll realize when there are problems.

Ways to Reduce Risk

With these examples, it’s easy to see how remote working doesn’t guarantee better work/life balance if not treated with care. Thankfully, there are steps employers can take to mitigate these risks. Here are some options:

• Train managers to frequently check in with their team members so they’re aware of how their employees are doing. This may seem awkward at first, but it can be beneficial if handled well.
• Encourage employees to use their vacation time, even if that time is used to just recharge for a bit instead of taking a traditional vacation. Time away from work can help both the employee and the employer.
• Proactively assess employees’ workloads to confirm they aren’t becoming overloaded.
• Ensure managers know the signs of burnout in remote employees. Look for things like messages being sent at all hours or changes in employee demeanor, mood, behavior, or productivity.
• Get input from remote employees on how they’re doing. It seems simple and obvious, but it’s often overlooked.
• Assess the previous benefit structure, and see what benefits can be tailored to be more useful for remote employees right now. For example, wellness programs may have components that can be implemented for remote workers. Or new benefit offerings could be considered that can keep remote employees engaged.

Given that we don’t know how long much of the workforce will be working remotely, what other items has your organization implemented to ensure employees are still getting the work/life balance they need? What would you add to this list?

You did it! You landed a great job as a manager and have a team under you to direct and grow. But it’s crucial for you to keep gaining and developing the skills you need to create great employees.

From navigating employee schedules to planning offsite meetings, a manager’s day is filled with a huge variety of tasks. You find yourself pulled in all directions, and prioritizing tasks is important. The most important task, though, is being mindful of how you interact with your employees.

The Human Resources department can get a bad rap. But you can benefit as a manager from their guidance and advice. Here are 5 critical HR skills every manager should know.

How to negotiate

Negotiating is an important skill for any leader and manager. Not only is it necessary to negotiate regarding compensation, but it’s also important in non-monetary issues. Employees and managers commonly don’t see eye to eye, and knowing how to negotiate will help you bridge that gap.

Negotiating is a process of compromising. The key to negotiation is eliminating emotion. Remember that as a manager, you were once that employee on the other side of that table. Understand your employee’s points and perspectives. Make sure you have carefully thought out counterpoints. Work together to come to an agreement that is fair and leaves everyone involved feeling heard.

Money is a touchy subject. And most employees feel like they are worth more than they are being compensated for. Having those tough conversations around salaries requires tact and facts. Explaining why your employee’s salary is where it is and how they can work to increase it will be helpful to both sides.

Whether it be vacation time or base salary, workers are performing their jobs with the long term goal of receiving more benefits. Try to view your relationship with employees as mutually working toward a common goal. Let them know that while you may not be able to get the extra vacation or added bonus they want now, you will help them work towards earning it.

Dealing with conflicts

When spending so much time together, personality conflicts and disagreements are bound to happen. Conflicts between employees can be awkward and downright ugly. Remaining a neutral party will help managers mediate these conflicts. It can be tough, but in the war of co-workers, it’s essential to play Switzerland.

The best approach to conflicts is to nip them in the bud when they first come to your attention. You don’t want animosity coming to a boil in a big scene at the company Christmas party. Bring both parties together to figure out the root of the problem. Make sure both employees know that you are unbiased and working to create a strong work culture for everyone.

A good manager will take steps to address and hopefully solve conflict before it escalates. It’s important to keep HR in the loop as appropriate. Focus on the facts and company policies to remain professional. Lean on your HR specialist for guidance if you need help.

Providing constructive feedback

Feedback is one of the most helpful things a manager can provide to their employees. Good feedback can foster trust and better performance. But not being constructive in feedback can result in a bitter employee.

Being consistent in how feedback is delivered is helpful. It’s important not to make an employee feel caught off guard with negative feedback. Ongoing feedback makes sure workers know where they stand. Including positive feedback helps to soften the blow of a bad review.

Positive feedback is just as important as negative, if not more. Keep in mind that many employees are as eager to please as they are to earn. Letting them know when they are doing a great job can go a long way in enforcing expectations.

Asking for feedback from your employees lets them know that you care about their satisfaction at work. How do they feel you are performing as a manager? Requesting their input makes them feel heard and will help you grow as a leader.

Growing talent

A good, employee-centric manager will focus on developing their people. This is not only good for the worker, but for the greater good of the company. HR loves seeing promotion from within. Developing employees for higher roles makes this possible.

Employees are happy when they see themselves advancing and growing. Helping them understand and realize their goals is helpful to them and the company. Keeping future goals in mind makes for more efficient, more driven employees.

Show employees that you are invested in their growth. Make sure they understand that you are on this journey with them and are pulling for them to succeed. Work alongside them to develop the tools they need to grow. Successful employees are a reflection of strong management.

Building morale

You know what they say about all work and no play. With the amount of time your team spends at work, it’s important to throw a little fun in. Team building can create a healthier culture and reduce the likelihood of workplace conflicts. Preventing burn out leads to employees that work more efficiently.

Many managers make the workplace competitive and fun through contests and rewards. Even simple acts like an email of praise or a shout out in a newsletter can make employees feel important. Every individual is different in how they like to be appreciated. It’s your task to find what works for your employees and your team.

Gatherings, like potlucks and workplace lunches, set the tone for an enjoyable work environment. Meeting for happy hour after a long week can help workers feel a sense of togetherness. These morale boosters go a long way in building a more cooperative team. Be mindful that everyone is included so your efforts don’t backfire.

Following guidelines, policies, and being a proactive manager will certainly win you points with HR. Make sure to use and benefit from their guidance and expertise. When you partner with HR and use your skills as a manager, everyone wins!

The blockchain industry is currently experiencing a global renaissance with the rise of decentralized finance (DeFi). Some industry reports in the recent past have suggested that the “hype” was over and enterprise blockchain solutions would replace retail-focused excitement, but this has clearly not been the case.

The recent DeFi movement has attracted hundreds and thousands of new market participants around the world to the technology, while also catching the attention of the large banking institutions that it was always meant to disrupt.

Currently, over USD 8 billion is locked in various DeFi applications, with live protocols producing real-time opportunities to achieve yields never before seen.

This hype and excitement has also brought back much needed capital and attention to the space, helping non-DeFi projects with real products launches. Here’s a roundup of some of the current trends shaping the blockchain industry, with insights provided by the companies and entrepreneurs currently paving the way.

Yield Farming

Yield farming has been one of the most discussed trends of 2020, and for good reason. Farming has provided the opportunity to leverage idle assets to earn returns unmatched by any traditional bank.

But, yield farming is difficult and is currently being used only by the cryptocurrency-savvy.

To solve this, APY.Finance automates yield farming as a robo-advisor, simplifying the process. APY’s Founder Will Shahda explains “APY.Finance will connect with the latest DeFi protocols to route your funds to a portfolio of the latest-and-greatest yield farming strategies. This hands-off yet secure approach will be the perfect bridge for everyone to experience yield farming without the vast learning curve that is traditionally involved.”

Decentralized Identity

Know-your-customer (KYC) and identity verification practices are slow, time-consuming and often invasive of the very privacy rights that blockchain users want when dealing with third-parties. The future of identity in the industry will solve this. Innovative products like aleph.im allow a seamless identity management solution that is focused on ease of use and privacy.

The aleph.im identity solution is developed in conjunction with industry leaders Synaps.io and Ledger. Jonathan Schemoul, founder, Aleph.im says, “The days of submitting KYC documents to multiple vendors are numbered, as the aleph.im solution allows users to tie documentation to their Ledger device and grant access to vendors in a secure environment.”

Decentralized Exchanges
This year is a special one for decentralized exchanges (DEXs), as volume surpassed USD11 billion and outpaced volume figures at most large centralized exchanges. Unfortunately, this spike in popularity caused Ethereum gas prices to hit unprecedented levels, making DEXs exclusive rather than inclusive for portions of the community.

Polkastarter is trying to solve this by building a DEX for cross-chain token pools and auctions, helping lower costs and provide ultra-fast swaps. “Smooth interoperability between various networks is a key to success for DEXs and the industry as a whole. This is what we are aiming to solve with Polkastarter,” says founder Daniel Stockhaus.

Governance Voting

The next generation of DeFi will find genuine mechanisms for shifting the balance of power away from network creators towards the community. Voting technology is the sought after key that unlocks a decentralised future. Governance voting is a way to bring cryptographically verified direct democracy to decentralised systems.

Finance.vote is at the cutting edge of governance innovation with a gamified quadratic voting based consensus system built for DeFi. It brings the ability to build influence on crypto networks, socially trade via consensus and get paid for researching the cryptospace. Founder Dr. Nick Almond describes, “Voting tools will open the possibility for decentralised financial systems to be led by their users and not just replicate, but generate new ways of managing money. We are building a fun way for users to discover and influence new projects in the crypto market.”

Decentralized Derivatives

Crypto derivatives trading broke records in August 2020 with over USD 710 billion in transacted volume. This was around the same time DEXs hit similar record-breaking trading volumes. There is a clear demand for both derivatives and decentralized trading, but for long there was no mechanism connecting both. Injective Protocol is doing just that with its layer-2 decentralized exchange protocol.

Eric Chen¸ CEO, Injective Protocol describes this need as essential to the continued growth of DeFi. “Injective Protocol will give traders unparalleled access to new decentralized derivatives markets without any restrictions, gas fees or limitations.” Injective was incubated at Binance and expects their mainnet to go live in Q4 2020.

Decentralized Autonomous Organizations (DAOs)

DAOs are not a new phenomenon in the blockchain world but they are experiencing resurgence. Since 2019, the number of active DAOs is up 660 per cent, with governance tokens being at the core of this movement. It is important to note that the right governance structure is critical to ensuring a DAO can thrive and sustain itself for the foreseeable future.

With exactly this in mind, JP Mullin and Will Corkin launched MANTRA DAO, the largest and most prominent community-governed DeFi platform. Corkin explains, “Our goal was to create a truly decentralised and fair organisation that would allow our community to be in control and grow wealth together. In just a couple of months MANTRA DAO has built a global community of 17,000 people that truly believe in the concept of a DAO.”

The introduction of GDPR just over two years ago set the train in motion for a prolonged phase of data privacy recalibration, igniting a movement of citizen empowerment around the privacy of Personally Identifiable Information (PII). Over the course of the last 24 months, tightening regulatory constraints have forced enterprises to come to terms with a new reality in terms of how they handle, manage, and monetize individuals’ data, incentivizing the wide scale overhaul of data management strategies.

In fact, a new repor​t suggests that a resounding 97% of organizations will increase their spending on data privacy in the coming year, with nearly one third indicating plans to increase budgets by between 90% and more than 100%. Let those statistics sink in. We are talking about wholesale changes to cross-sectoral data management, with the privacy of the individual finally being prioritized over corporate interests at scale.

With such expansive budgetary measures on the horizon, the focus turns to the types of compliance-enabling solutions that will resolve these types of regulatory headaches from an industry perspective. In Europe, non-compliant companies can be confronted with fines of up to 4% of their global annual revenue, if the associated breach violates basic principles for processing data such as consent conditions. While Europe has led the charge on the privacy regulation front, the US hasn’t been far behind. The introduction of the GDPR-inspired California Consumer Privacy Act (CCPA) was in keeping with the naturally progressive West Coast, but calls for a nationwide Data Protection Agenc​y have never been so visceral. A new ‘Data Privacy Act’ – as outlined by Senator Kirsten Gillibrand in her Medium pos​t— would be a landmark moment for the US. Senator Gilllibrand specifically discussed the potential for Privacy Enhancing Technology (PET) to be deployed as a means of undercutting the corporate collection of personal data, and re-setting the data privacy scales in favour of the individual.

In parallel to the monumental legislative frameworks such as GDPR and CCPA, the technological advances being made in the field of PET and Distributed Ledger Technology (DLT) more broadly, signal a paradigm shift in the way companies collate and share data. Blockchain technology can be harnessed to reimagine how data is valued, shared, and protected, for individuals and enterprises alike. For example, the establishment of decentralized data marketplaces can empower individuals and businesses to share data in a trusted environment. By generating bespoke decentralized IDs, individual and corporate users can securely store and share data in these marketplaces, while maintaining full control over this data.

So why is this kind of decentralized marketplace important? For one, it addresses a long-standing privacy dilemma for enterprises. For​ many companies, the​ sharing of information based on proprietary data has been a delicate topic for decades and taking a cautious approach is particularly understandable due to the heightened scrutiny around how enterprises share user data. Companies have troves of confidential data that they wish to protect for business and legal reasons, but they also recognise the benefits of inter-company collaboration. Peer-to-peer cross-platform data trading technology, as enabled by blockchain, can make sure that this is no longer a zero-sum game.

Before the pandemic, a report by the International Data Corporation (IDC) Worldwide had projected European blockchain spending to hit $1.4 billion in 2020, with a Compound Annual Growth Rate (CAGR) of 58% between now and 2023. Following the broader economic curtailment stemming from the Coronavirus, the IDC has revise​d down this lofty projection by 8%, but the outlook for wide scale blockchain adoption remains positive, characterised by the European Commission’s broadly holisti​c approach to leveraging blockchain technologies, with the end goal of assertively positioning Europe at the forefront of blockchain innovation.

Blockchain’s rise to prominence, thanks to the explosion of bitcoin, has caused wave after wave of professionals from myriad industries to make the transition to blockchain. I was certainly one of these people, and I was lucky enough to get on board early enough that I’m considered an expert in the field. One of the responsibilities that the industry puts on its “experts” is searching out innovation and possible areas for growth and expansion, and I think there’s one area that perhaps needs blockchain the most: healthcare.

In the U.S., healthcare is a constant topic of conversation, and most people would agree that the existing industry can be greatly improved upon. Just how it should be improved is a fairly constant debate topic in normal times. However, the notably abnormal times we live in have somewhat accelerated the need for one of the solutions that have been proposed to truly take shape. The country’s ongoing battle with Covid-19 has significantly stretched the healthcare industry. Especially toward the beginning, many of the flaws with how healthcare is thought of and treated in this country took center stage.

If you turned on the TV during March or April, you saw these flaws everywhere. Doctors, nurses and hospital staff putting in incredibly long shifts, lacking basic medical supplies and putting themselves at risk to save lives were getting desperate due to a dysfunctional supply chain. The healthcare supply chain was always somewhat suboptimal, but Covid-19 stretched it far too thin and illustrated just how in need of a meaningful and impactful overhaul it is. And that’s exactly what blockchain is best at.

Just like the internet in the 1990s and 2000s, I believe it's clear that blockchain’s potential will be reached and countless industries will be better off for it, but the innovative projects need to be the right fit first. As an advisor for the Columbia University Blockchain Accelerator, I see a lot of different blockchain projects, and there are two qualities that every successful one has had: the best team for a specific project and the right industry at the right time.

The Team

Having the right team is a key factor for any venture, blockchain or not. For blockchain projects specifically, I have seen countless teams that assume they have enough blockchain knowledge without a C-level specialist (they don’t) or assume that because they are blockchain experts, they can disrupt any industry they choose with the wave of a wand (they can’t). For a positive example, one company that comes to mind is HealthChain, one of the advisors at Columbia Accelerator. It uses blockchain to solve the medical device supply chain problem and was co-founded by a highly successful medical tech entrepreneur (formerly a heart surgeon) and a nationally recognized cardiac surgery thought leader. When working as a team, the company has deep knowledge of both the industry it seeks to disrupt as well as the technology it plans on using to disrupt it. That is the sort of combination of blockchain and industry knowledge that all successful blockchain projects need. Having an interest in a space but lacking expertise is a recipe for failure. 

The Industry

If you try to bring blockchain to an industry that doesn’t yet have a use for the technology or isn’t in need of a good shakeup, then you won’t succeed. The healthcare industry, as I described earlier, is in a place due to Covid-19 where all of its flaws are visible, and people are very receptive to change. I also got an in-depth look at another healthcare project through the Columbia University Blockchain Accelerator, Nirvana Labs, which seeks to disrupt the healthcare industry as well. It recognized that blockchain applications in healthcare could be extensive. And during the coronavirus crunch, the problem it was solving in the healthcare space became so widespread that the solution for automation of prior authorization moved from a nice-to-have to a must-have for the industry. 

Do not try to use blockchain to “revolutionize” an industry that is working well, that doesn’t benefit the majority or that is already very technologically advanced. It won’t take. I’ve seen plenty of smart people start blockchain projects that reached massive brick walls when they launched, not because they didn’t do a good job but because the industry they were entering was never going to be receptive to them. Find an industry like healthcare, and dive right in.

Where Blockchain Is Now

Don’t get me wrong — blockchain is still early in what most experts believe to be its ultimate trajectory. However, we are in a very exciting period. Massive multinational companies are entering the blockchain space to varying degrees, and it’s clear that investment is only going to increase. If you had asked me five years ago if you should start a company focused around blockchain technology, I would’ve had mixed opinions for you. Today, the maturation of the technology and its adoption has made it a very attractive space to be in. If you have the team and the right industry, the infrastructure is in place for your success now more than ever. Additionally, if you aren’t looking to start your own company, blockchain careers are on a meteoric rise in 2020, thanks in no small part to its resiliency through the Covid-19 economic downturn.

Here’s the simple truth: the “new normal” is not new anymore. It’s just normal. According to a recent report from the Stanford Institute for Economic Policy Research, the U.S. economy is now truly a work-from-home economy, with more than 60 percent of U.S. economic activity now coming from people clocking in from a home residence.  

And although the best managers and corporate leaders have been able to keep the wheels on the bus and maintain productivity levels during the craziness of current times, sustaining a company’s workplace culture health has not always been as successful. Honestly, it can be easier in some cases to harm your company’s culture inadvertently than to promote it when you’re dealing with a workforce where so many are juggling kids, pets and myriad other household distractions with their jobs. 

If you are a remote manager, what are the fastest ways to kill workforce morale and damage your company’s culture?  In the spirit of learning from others’ mistakes, here are a few of the most common pitfalls to avoid. 

1. Letting everyone turn the webcam off during meetings

When it comes to team meetings, ever notice that over time, more and more of your colleagues start to turn the video off? Set a good example by leaving yours on — always if possible. And encourage the rest of your team to follow suit with few exceptions. 

Sure, it can be extremely tempting to shut off the video when heading into the first (or last) Zoom meeting of the day. After all, you reason, no one really needs to see your ratty ponytail or messy living room, do they? And plus, why not get a little bit of email done while coworkers are droning on? Resist the urge. Face time — albeit through video — is more critical than ever these days. 

2. Being too hands-off in terms of check-ins with individuals and your teams  

Remember the days of stopping by a colleague’s office to say hello and casually check the progress on a project? Or the friendly banter in the hallway or lunch room when you learned that an employee was dealing with a stressful family situation at home or even a client matter that might be impacting their work? Yeah, those days are over, and the 30 seconds of chit-chat at the start of a Zoom meeting will not suffice. 

That’s why it’s even more critical for remote managers to establish a regular routine that includes daily check-ins with team members. An early morning email and end-of-day wrap-up might seem like overkill, but it will go a long way toward reducing isolation and promoting open communication. 

The communication should be two-way of course. Be sure to remind team members to share updates on their work and prompt them to ask for help on any roadblocks they might be experiencing; set up one-on-one phone calls to go deeper with specific individuals. Not everyone communicates best on email or wants the formality of a video chat. It’s your responsibility to find the best channel and make it happen. 

3. Losing your patience over “at-home conditions” and challenges and not embracing flexibility for the long term 

Back in March when schools and offices first closed, most managers and company leaders displayed high levels of compassion and empathy for their work-from-home employees who were — like them — suddenly dealing with the multiple stressors of the world and household responsibilities. However, in some cases, patience has started to wear thin. Don’t let it. 

We may have all gotten more accustomed to juggling home schooling, childcare, meal preparation, lack of personal workspace and endless hours of daily screen time than we might have ever imagined. But that doesn’t mean it’s necessarily getting any easier. And if anything, as we set in for the long haul, it’s time to adjust your expectations that this is just a temporary situation. 

Embracing flexibility is the alternative. Some employers are already embracing agile working: “A way of working in which an organization empowers its people to work where, when and how they choose – with maximum flexibility and minimum constraints – to optimize their performance and to do their best work.” This might be the best route to go, allowing for regularly scheduled check-in and meetings as needed, to truly support your company’s culture for the long term. 

4. Failing to create additional opportunities for collaboration among team members and coworkers 

There are some obvious advantages of the new work-from-home lifestyle, especially for those who prefer to simply put their heads down and get to work without the distraction of conference room meetings and coworker birthday celebrations. However, the “working as an island” concept can cost your company the benefits of everyone maintaining focus on the shared purpose of projects and the big picture of your organization as a whole.

That’s why it’s up to remote managers to proactively create projects that require collaboration between team members. Given the access to all the online tools for sharing work and working together (Dropbox, Google Docs, Zoom), there’s just no excuse for different levels and departments to not share knowledge, brainstorm and take different on different parts of a larger project. Plus, this is a great way to strengthen relationships, build empathy and improve communication channels. It’s your job to find (or if needed, create) these opportunities.

5. Focusing inward rather than practicing active empathy

Now more than ever it is critical to practice empathy. This is easier said than done. First, you yourself are experiencing drastic professional and personal disruption. It can be hard to focus a lot of attention on your direct reports when you’re dealing with work stress and home stress. Second, each person is experiencing the “new normal” differently, which means you have to meet them where they are. For example, you might have some employees who feel like the restrictions on business and personal life as a result of the health crisis are unnecessary. Or others who feel like it’s not enough. It’s important to try to understand those perspectives and to address each employee based on those perspectives. 

This is hard. All of it. There are no magic solutions to keep remote workers engaged, productive and seen. But doing your best to stay connected, to stay flexible and to stay empathetic can at least help make sure the new normal isn’t always a bad normal.  

As we move into 2020, blockchain, which started to grow beyond proofs of concept in 2019, will truly begin to get its legs. We now have actual use cases with real results, and we’ll continue to add to these in the coming year. According to new data from LinkedIn,  blockchain skills remain some of the most sought after skills in the job market.

For me, the biggest surprises will be around what takes longer than expected to happen—and what will happen more quickly than we’d imagined. With that said, here are my top five predictions for the future of blockchain applications.

Prediction 1:  Sustainability and Ethics Will Drive Blockchain Applications

Oracle received a lot of press this year for its work with the World Bee Project to develop a blockchain-based sustainability assurance system for honey. A Business Blockchain HQ article cited research showing that as much as 76% of the honey sold in grocery stores is fake and may even contain harmful toxins. Sometimes, the honey is watered down or made with compounds that contain corn syrup and sugar. With this pilot project built with blockchain, consumers will be able to identify the source of the honey and verify its purity. 

The current proliferation of fake products in the market is staggering, from fake Olive Oil to counterfeit drugs and fashion items.  Blockchain has the capability to expose the fakes and help keep consumers safe from fraud.

I believe that sustainability will take on major importance when developing blockchain applications and ethical business practices. This will be a hot topic at the upcoming World Economic Forum in Davos. Many consumers have become incredibly conscious about protecting the environment and making purchasing decisions that reflect their values. And this will manifest itself, again, as part of supply chain management. This is where the potential lies: It’s about having ethical business operations that are also profitable. 

Predictions 2: Supply Chain Management Will Lead the Way in Adoption

Initially, most experts believed financial services would lead in blockchain adoption. But now, we’re seeing blockchain being adopted rapidly in supply chain management (SCM).  Finance will still be an important sector, but it’s going to take some time for the finance systems, which are older legacy systems with a lot of on-premises infrastructure, to be integrated with blockchain. When it happens, it will be in the more hybrid environments—a mix of on-premises blockchain and blockchain in the cloud.

Conversely, we have quite a few real-world blockchain applications in SCM, especially for track and trace applications. More people are demanding to know what's in their clothing, the food they eat, and other products they purchase. In 2020, I see a big increase in this area due to consumer demand.

One company that’s using Oracle Blockchain to track fashion items is Retraced. Retraced is is a German start-up that has launched with the goal of tracking the supply chain in the fashion sector.  They founded CANO shoes which produces sustainably sourced handmade Mexican huaraches. The company uses the Oracle Blockchain solution to track information about the raw material suppliers, the materials used, the manufacturing practices, etc. With blockchain, there are no technical limits on the amount of data that can be recorded. Nothing in the CANO manufacturing process is hidden from the customer. This is verifiable thanks to the near-field communication chips hidden in the shoes, which can be controlled via the CANO platform and directly via the app, giving the consumer targeted information about the individual product.

Prediction 3: True Interoperability Still Lies in the Future

In terms of interoperability and blockchain, we’re just not there yet, although there are several projects underway to make blockchain systems talk to each other. Right now, we have many different blockchain platforms: R3 Corda, JP Morgan Quorum, and Hyperledger to name a few.  Forrester  Research predicts that 80% of blockchain implementations will be a hybrid model of public and private/permissioned blockchains, rather than just one particular type of blockchain.

My prediction is that more businesses will enter the market with more blockchain solutions, and interoperability will take longer to happen than we expected. Widespread interoperability is probably still two years out, say, 2021 or 2022.

Prediction 4: Blockchain for Social Good Will Continue to Grow

My fourth prediction revolves around the notion of using blockchain for social good. We talked with Dr. Mark van Rijmenam about this earlier this year. He’s published a book with Dr. Philippa Ryan, Blockchain: Transforming Business and Our World.  

We’re already seeing numerous projects focused on solving these complex social problems. In 2020, we’ll see even more projects around helping homeless people, assisting with seed donations and money grants to developing nations, and other similar projects. Before blockchain, funds for these projects would be dispersed, and they might never make it to the intended recipients of the aid because of fraud. However, with blockchain the disbursement of funds to the intended recipients(s) can be verified.  If an actor on the blockchain tries to tamper with the funds, the identity of that party will be known to the other parties on the blockchain.

We may even see projects for climate change and energy efficiency so that these projects are moderated and measured more by using blockchain to make monitoring and measurement more precise so we can regulate it better.

Prediction 5: Global Digital Identity Ensured by Blockchain Won’t be a Reality in 2020

When I look back at some of the things predicted about blockchain, it seems apparent that some of these forecasts may have been premature. Among these is one of my favorite blockchain projects: digital identity. The ID 2020 initiative was established to make digital identity a reality by 2020, so that passports, birth certificates, education degrees,  certificates, etc.—all of our identifying documents—could reside on an app built with blockchain technology.

It may have had a slow start, but 2020 has been the year we’ve really seen the true potential of blockchain. The true benchmark is in the implementation of real-life deployments, be that in the form of blockchain start-ups or new infrastructure projects. Only then can blockchain’s true value to the financial industry be measured. Sure enough, 2020, despite its unprecedented challenges, has heralded a new dawn for blockchain.

Nevertheless, the slow uptake of blockchain adoption isn’t unusual due to the fact that its value lies in highly regulated, complex markets, such as the financial services industry. It would be unfair to compare adoption to the rise of cloud, Internet of Things and AI, simply because blockchain is suited for complex, collaborative, multi-party, and critical application use-cases.

Next-generation blockchain

We are seeing an increase in optimism of blockchain in the financial industry, particularly in the enterprise space, with customers truly seeing the practical purposes in deployment, leading to more investment in time and money in blockchain. Gartner predicts that blockchain will be fully scalable by 2023. IPC’s sense of the future of blockchain, particularly in the enterprise space, is just as positive.

Next-generation blockchain organisations are leading the way in showing how the technology can be used intelligently for the world we live in today. For example, R3, an enterprise software company, is working with an ecosystem of over 200 financial institutions, regulators, trade associations, professional services and technology companies to develop Corda. This is a blockchain platform designed specifically for businesses to deliver two interoperable and fully compatible distributions of the platform which addresses issues such as transactional certainty, data privacy, and the scalability limitations.

Value-added partnerships

Both application service providers and subscribers should partner with respective service and product providers at an operational level, prioritising integration to stay ahead of the blockchain curve. Real value is provided with the integration and support from the hyper-scale platform community such as Microsoft Azure and AWS together with open industry platforms, such as IPC’s Connexus Hub, creating end-to-end solutions that solve business problems. The importance here is APIs. We believe in an API partner integration approach, which gives institutions the ability to easily access data, provide insights and inspire innovation for the company/market need.

Service providers, like IPC, can play a critical role here by supporting operationalisation in the systems-oriented context. Such providers are a natural connector embedding connectivity to key market participants. IPC, for example, has access to all asset classes and trading methods with over 2,000 sell-side, 4,000 buy-side and over 75 exchanges.

The new paradigm

Covid-19 has provided unprecedented circumstances and situations that has impacted every aspect of our lives. Though this pandemic is devastating from a health, societal and economic perspective, blockchain may help the global economy rebound. The World Economic Forum believes technology such as blockchain “will benefit all countries currently impacted by Covid-19”, as it provides an efficient approach to reduce trade cost on a global scale.

Digital initiatives such as blockchain is non-partisan and open to all, which allows users to act quickly at low cost with low barriers for innovation — all valuable factors in supporting the economy in an economic downturn. So, although blockchain adoption was slow in its early stage, 2020 seems to be the year blockchain comes of age.

Often, the obvious pick for a sales manager is also the wrong one.

Picture this. You have an opening for a sales manager position in your organization. The obvious pick is your top performing sales rep, right?

Not necessarily.

Contrary to popular belief, the skills that make salespeople successful are not the same skills that make sales leaders and coaches successful.

The obvious move, when a sales management position is open, is simply to promote your best performer to become the new leader of the team.

But, just because a particular rep has created positive results for themselves, doesn’t mean they’re automatically equipped to lead a team.

A leader, by definition, must be able and willing to put the collective best interests of the team ahead of their own.

If a rep is successful, but doesn’t know how to properly transfer his or her skills to other people, then this particular rep is already at a disadvantage to manage the team.

Or, a rep might be successful in making sales, but perhaps isn’t particularly well-liked by their team. Again, putting this rep in-charge of said team can obviously lead to less than favorable outcomes.

The last thing you want is to move your best seller into a management position, have them fail and subsequently leave for another company. In such a scenario, you’re not only out a manager, but you’ve lost a high-performing rep too! 

While I’m not saying every top performing rep is a poor choice for a management position, I am saying that every sales leader and executive needs to be mindful that a top performing rep doesn’t automatically equate to a top performing manager.

Whoever you place in a management position needs to receive an adequate level of training and guidance to succeed. And, as is the case for hiring any position, ensure the person you’re hiring for the role has the right skill set to thrive in a management position.

When you’re asked to explain why you should be promoted, get a raise or be hired for a new job, it can make you feel uncomfortable. Why? Because you’re forced to talk about yourself—something that your mother told you never to do.

Well, there’s a better way to get noticed and nudge your career in the right direction without having to say a word. Here’s a checklist that will tell you what you need to do to progress in 2020:

1) Possess awareness. Ensure your antennae are always up. Never stop observing and gathering information, which allows you to read situations accurately and anticipate outcomes.

2) Act honorably. Be known for being candid. If you say you’ll do it, others should know they can count on you. You’re open—not guarded—and you don’t come up with excuses.

3) Demonstrate confidence. Take time to accurately read yourself, both your strengths and your weaknesses. It’s worth the effort. You’ll avoid the dangers of becoming viewed as overconfident.

4) Present effectively. Recognize that nothing receives more positive feedback than being an effective presenter. Your team will look to you to be persuasive and deliver the goods.

5) Express yourself clearly. Dashing off memos, letters, emails, texts or voice messages has consequences. Namely, confusing recipients and earning the right to be ignored. Taking time to frame your thoughts for clarity is a gamechanger.

6) Contribute generously. What you do every day when arriving at work goes beyond your job description. Contributing ideas and making suggestions will improve your performance and help the business succeed.

7) Possess an aiding attitude. The workplace is often competitive, and everyone is cautious and keeps their cards close to their chest. Yet, everyone needs help, so be the outlier and offer it. Don’t look for a “help needed” sign—you can sense it. The payback will be instant.

8) Show some imagination. Many good ideas get killed before we express them. Why? Because a little voice in our head tells us that others will think we’re stupid. Take a chance. Let your mind play with possibilities and say, “You know, I was thinking….”

9) Stay focused. Some call it being mindful, others call it being single-minded. Whatever the word, you’re focused on what you’re doing and are neither distracted or distracting.

10) Simplify endlessly. At some point, jobs take on a life of their own—and somehow become unnecessarily complicated. It just happens and most people accept it. Don’t be one of them. Ask yourself, “How can I simplify this and get rid of all the stuff that keeps me from being more productive and helpful?”

11) See the bigger picture. A career isn’t only about doing quality work. It’s also seeing yourself as part of an organization, recognizing its challenges, opportunities and vision.

12) Be consistent. This is what you don’t want to hear from your boss: “You have some helpful ideas, but you’re unpredictable. Your work is all over the place. As much as we would like to, we can’t count on you.”

13) Avoid jumping to conclusions. Some shortcuts are helpful, but not this one. It keeps us from slowing down long enough to accurately evaluate ideas, situations and people. Rushed, distorted judgments result in poor decision making.

14) Be a thought leader. It’s easy to spot these people. They are the go-to people, whether on a team or in a department or an office. Others are drawn to them for their knowledge and expertise.

15) Celebrate others. It doesn’t need to be something big, any act of helpfulness qualifies. Celebrating those around us sends the message that they matter.

16) Recognize the blind spots. We all have them. If you want to get ahead, make a list. Then, tackle them one at a time. You’ll stand out from your coworkers.

17) Welcome new challenges. Many people like working in a groove, where the routine never changes, there’s little pressure and surprises are few and far between. Be the exception. Seek out new opportunities, even when it’s a little scary.

18) Stay on top of things. Falling behind can be fatal, so don’t rely on your memory. Use an app to keep track of everything. You’ll get a reputation as someone who has it together.

19) Take a stand. There will always be those who go with the flow, don’t speak up and keep a low profile. It’s the perfect prescription for being ignored, lost in the crowd and never missed. Don’t be one of them.

Keep on nudging and you’ll find yourself going in the right direction.

If you want your business to grow, it is your job to make sure your sales team performs beyond expectations every single month.

Sales are the lifeblood, heart, and soul of your business. It’s the source of all revenue that keeps your business running. Without sales, your business simply won’t survive.

If you want your business to grow, it is your job to make sure your sales team performs beyond expectations every single month. But how? While it’s certainly not easy, it’s not impossible. In this article, you’ll learn about 5 methods you can use to boost sales team performance. 

Set clear sales targets

The first thing you need to do is to set clear targets and objectives for your sales team. Without clear targets, your employees will just go with the flow. There won’t be a sense of urgency to sell as many products and services as possible. Create a reward and penalty system to ensure your team takes it seriously. Give them rewards if they achieve targets and consequences if they don’t.

“Show me the incentive and I will show you the outcome.”Charlie Munger, Vice Chairman of Berkshire Hathaway

Create healthy competition

Deep inside, every human being wants to be at their best and be recognized for it. What’s a better way to spark this fire inside your sales team than prompting healthy competition?

First, divide your sales team into different groups. Second, put a giant whiteboard in the office for everyone to see. Then, write on the whiteboard the revenue each group has generated every month. This way, the group with the most sales will keep up their good work to stay on top, and the other groups will try to catch up. Honestly, this is one of the best ways to boost sales without squandering your marketing budget.

Give your sales team flexibility

Everyone loves making money. But all the money in the world won’t mean a thing if you can’t spend time with your loved ones. If you want your team to be more productive, give them some flexibility in working hours and time-off. Being a salesperson is one of the most stressful jobs in the world. So, cut them some slack. Give them enough rest time to spend with their family or enjoy their hobbies as long as targets are achieved.

Automate sales administration

If you want maximum results, your salespeople shouldn’t be bothered with administrative tasks. It wastes their time. They need to make deals with clients, not fill out tedious reports in Excel. Instead, hire an admin to manage all sales administration or use cloud-based sales automation tools. Let your salespeople focus on what they do best, which is selling.

Make your team feel appreciated

As mentioned earlier, it’s human nature to seek appreciation and recognition. Nothing is more discouraging than being ignored after working hard to achieve sales targets. So, give credit where it’s due.

If you want to boost sales team performance, appreciate them for their good work. Give them bonuses if they exceed targets, and take them on an all-expenses-paid trip. Don’t hesitate to make your sales team happy––they’re your greatest assets.