Bahrain is making significant strides to bolster its economic outlook, driven by innovative educational initiatives aimed at addressing the evident skill gaps within the rapidly growing field of blockchain technology. The Bahrain Institute of Banking and Finance (BIBF) has announced the launch of the Blockchain Academy, which promises to provide the first professional certification for blockchain technology in the kingdom.
The academy's program is set to kick off on January 6, 2019, and will span five days, during which participants will engage with the intricacies of blockchain through professional training. This endeavor, which is being conducted in collaboration with the Dubai-based training provider MyLearning Key, is not only about acquiring knowledge; it seeks to cultivate the necessary skills required by today’s job market, thereby shaping the future of blockchain industries.
Dr. Ahmed Sheikh, the General Director of BIBF, emphasized the importance of this initiative, stating, "We are diagnosing skill gaps within the financial sector, and we are designing programs delivering the skills required to meet market demand." This statement underlines the urgency and relevance of developing pertinent skills within Bahrain's financial workforce.
The program offers comprehensive insights and hands-on experiences related to blockchain technology, segmented across three key competency areas: development, implementation, and strategy. Such structured learning modules are indicative of BIBF’s commitment to ensuring participants not only understand the theoretical aspects of blockchain but are also equipped with practical skills needed to thrive.
Highlighting the relevance of this initiative, Ahmed Naeemi, Head of Operations and IT at BIBF, stated, “The Blockchain Academy is one of the most important new initiatives to bridge the global shortage of blockchain developers and support businesses.” This reflects the growing demand for professionals who are knowledgeable and adept at managing blockchain applications, which are becoming increasingly pivotal across various sectors, including finance, supply chain, and smart contracts.
The recent surge of interest and investment in blockchain can be attributed to its transformative potential across industries, and Bahrain's proactive stance positions it favorably within the region. The academy not only serves as educational groundwork but also aims to place Bahrain on the global map as a training hub for cutting-edge technologies like blockchain.
Overall, the establishment of the Blockchain Academy is poised to play a significant role not just for individual career advancements but for enhancing Bahrain's economic ecosystem. By fostering technological education, Bahrain takes another step toward innovation, aiming to attract both local and international investment opportunities.
With countries increasingly recognizing the need to transition toward digital economies, Bahrain's efforts can lead to improved employment prospects, enhanced professional capabilities, and the solidification of its reputation as an attractive destination for blockchain-focused businesses seeking development and expansion.
Through initiatives like the Blockchain Academy, Bahrain is carving out its niche as not only a center for financial services but also as one dedicated to technology innovation. The ambition reflects the long-term vision of diversifying the economy and ensuring resilience against global economic shifts, particularly those influenced by technological advancements.
Looking forward to the outcomes of these programs, stakeholders eagerly anticipate how this initiative will influence Bahrain's workforce and economic position as it embraces the digital age. With the right skills development and strategic focus on demand-driven education, Bahrain is set not only to participate but thrive within the global blockchain revolution.