The ex-Goldman Sachs trader remains bullish on Blockchain jobs

Sami Sørensen, founder and CEO of metaverse provider IoTAL – and ex-Goldman Sachs and Deutsche Bank trading director – is optimistic about the future of blockchain.

Blockchain is intrinsic to the future of the internet, says Sørensen. “Web3 is not about crypto. It’s about data-rich physical and digital experiences,” he explains.

He predicts that Web3 developer jobs using languages ​​like Solidity and Rust will remain in demand as the Internet evolves and smart contracts become the norm. “My guess is that most companies will build a web3 team of 2-10 dedicated developers,” Sørensen predicted last month. “It adds up quickly.”

“Banks will compete with luxury, retail and traditional software companies for a small pool of talent,” he says, pointing to the importance of smart contracts in a Web3 future.

Smart contracts are essentially “normal” contracts that know how to execute certain clauses when market conditions become favorable for them – Sørensen gives a smart refrigerator as a basic example. It can be programmed to order, on your behalf, more milk when it can detect that your warehouse is empty.

Solidity is crucial for “building” smart contracts, says Sørensen. It is based on Ethereum’s “ecosystem”, meaning it is tied to the cryptocurrency of the same name.

Sørensen points out that big brands are already betting on the Ethereum ecosystem – Qantas, Etihad, Prada, Balenciaga and Starbucks are already there, among others.

He says that smart contracts’ advantage is that they reduce friction. “It’s an automated process. It provides a lot of transparency for all stakeholders involved.”

And they also save time and work – a large company, and especially a bank, has thousands, if not tens of thousands, of contracts in progress at any given time. For example, under a smart contract, it may be easier to activate a particular case to achieve a more profitable outcome.

Sørensen is not the only ex-Goldman guy who believes that what remains after the crypto meltdown will be blockchain. Sam Peurifoy, an ex-Goldman researcher, said in a blog post this week that “The implosion of centralized trading entities has little or nothing to do with the core software propositions that comprise blockchain [such as Ethereum] & Web3.”

Click here to create a profile on eFinancialCareers. Make yourself visible to recruiters hiring for finance and technology jobs.

Have a confidential story, tip or comment to share? Contact: [email protected] in the first instance.

Please join us if you leave a comment at the bottom of this article: all our comments are moderated by humans. Sometimes these people may be sleeping, or away from their desk, so it may take a while for your comment to appear. Eventually it will—unless it’s offensive or libelous (in which case it won’t.)