Business

What Holds People Back in Their Tech Careers That They Are Not Thinking About

Published

1 year ago

October 5, 2023

If you want to advance in your technology career, it makes sense to grow your technology skills. Achieving a new certification, attending a bootcamp, or earning an advanced degree are all steps that tech professionals take as they seek to move ahead in their careers. However, focusing on tech skills alone will not be enough for many tech professions.

“I have a warning to cloud engineers, software engineers, network engineers, and all hands-on technology professionals,” says Michael Gibbs, CEO of Go Cloud Careers. “If you limit your learning to tech skills, you will have a more difficult time succeeding in today’s modern world. Even worse, you run the risk of being replaced or outsourced within the next five years.”

Michael has over two decades of experience training students for high-paying positions in the field of networking and cloud computing. The unique programs offered through Go Cloud Careers provide students with unparalleled technical competency as well as proficiency in the soft skills needed to succeed as elite technology professionals. Go Cloud’s training gives its students an exceptionally high success rate at securing six-figure jobs.

“The good news is that there are things that any tech professional can do to increase their income, get promoted, and thrive in their career,” Michael says. “The key is focusing on the skills that will never become obsolete.”

Developments that are transforming the tech world

To thrive in today’s tech space, tech workers need to pay close attention to three ongoing developments, each of which is contributing to a major shift in tech opportunities. The first involves the quality of technology, which has increased dramatically in recent years. Keeping tech up and running is not as much of a challenge as it once was.

“When I started working in technology over 25 years ago, the tech didn’t always work,” Michael explains. “Qualified technology people were in high demand and the better your tech skills, the more you earned. But things have changed. In today’s world, tech works much better. Those who support it aren’t as busy as they once were.”

Globalization is another development that is challenging the security of certain tech jobs. The Covid-19 pandemic proved that geography is irrelevant when it comes to staffing. As a result, the pool for tech employees is much larger than it was just a few years ago.

“Do you think a business would prefer to pay $200,000 to an engineer in the US or $56,000 to an engineer in India?” Michael asks. “In either case, the person is receiving equivalent compensation when adjusted for cost of living and will be performing the same quality of work. This means a company can get four capable people overseas for the price of a single person in the US. If you were the CEO, who would you hire?”

Artificial intelligence (AI) is the third development that is reshaping the tech space. AI tools like ChatGPT have already proven they can code. To compete, developers will need to develop new skills that AI cannot offer.

Skills that can boost your tech career

To stay competitive, tech workers need to add business skills to their tech talents. Many applicants know how to configure technology, but few know how technology can transform the business where it is being deployed.

“Developing your business acumen allows you to understand the value that technology brings to organizations,” Michael says. “When you add business acumen to your tech skills, you are better equipped to help a business increase its revenue, its employee productivity, and its profits.”

Leadership skills will also help tech workers to have successful careers. Technology can’t replace leadership. Good companies will always look to hire and promote those who can lead others.

“Early in my life, I heard an African proverb that changed the trajectory of my career,” Michael says. “It states that if you want to go fast, go alone, but if you want to go far, go together. That’s the secret of success in tech or any field. Build a great team and be able to lead that great team and you will advance in your career.”

Being able to sell is another business skill that can help tech professionals. To be effective and advance, tech pros must be able to sell customers on solutions, sell management on the need for resources, and sell their teams on the importance of contributing to projects. Success in any elite technology role requires being able to sell.

Shifting from engineering to architecture

As engineers and other hands-on professionals add business acumen, leadership skills, and soft skills to their capabilities, they become a more critical part of the organization. Another step they can take to increase their value is to shift their focus from engineering to architecture.

“Engineers that are hands-on only without great communication skills, leadership skills, or sales skills will struggle as the tech field continues to evolve,” Michael warns. “Architects are not as vulnerable, as they focus on designing systems that improve business performance. In fact, architects are the key to digital transformation.”

Technology architects, like cloud architects, enterprise architects, and network architects, assist businesses in leveraging technology to improve business performance. They provide a unique and valuable mix of technology expertise and business acumen.

“Architects understand the customer’s business problem and the ways in which technology can solve the problem,” Michael says. “They bring the human touch to the digital transformation process, which is why they cannot be replaced by technology.”

Business

How Black Banx Has Sped Digital Payments Into Its Global Phase

Published

1 day ago

March 13, 2025

Matthew Wiles

The payments industry has grown substantially in the last decade, with digital transactions now practically a given in most parts of the world. A key contributor to this globalization of payments has been Black Banx, a Toronto-based global digital bank founded by German billionaire Michael Gastauer.

Through innovative fintech solutions, a commitment to financial inclusion, and strategic investments in blockchain and artificial intelligence, the company continues to make transactions quicker and easier no matter where the sender or receiver is in the world.

The Cross-Border Payment Boom

Global transactions have never been more essential to the world economy. From businesses engaging in international trade to individuals sending remittances back home, the demand for fast and cost-effective cross-border payments has skyrocketed. In fact, FXCintelligence projects that the cross-border payments market will hit an astonishing US$290 trillion by 2030, driven by the rise of e-commerce and digital trade.

Historically, moving money across borders wasn’t simple. Traditional banking relied on a complex web of intermediaries, leading to slow processing times, high fees, and inefficiencies. But fintech has changed the game. Companies like Black Banx have introduced digital-first solutions that eliminate unnecessary middlemen, enabling instant, affordable transactions.

Black Banx’s Rapid Growth: A Testament to Demand

Black Banx has experienced explosive growth, reflecting the increasing demand for seamless global payments. By the end of 2024, the company’s customer base had expanded to 69 million users across 180+ countries—a staggering 76% growth from 39 million in 2023.

This growth wasn’t accidental. Black Banx’s success stems from its ability to offer frictionless cross-border banking, catering to individuals and businesses worldwide. It’s offerings include:

Instant Multi-Currency Accounts – Customers can open accounts online within minutes, eliminating the need for physical bank visits.
Cryptocurrency Integration – Black Banx has accepted Bitcoin and Ethereum since 2016 and expanded its crypto services in 2024 by integrating Solana and the Lightning Network, allowing for ultra-fast, low-cost cross-border transfers.
Zero-Intermediary Transfers – By leveraging blockchain technology, the company bypasses traditional banking infrastructure, significantly reducing fees and processing times.

AI-Powered Payments: Enhancing Speed and Security

If there’s one technology that has reshaped digital payments in 2024, it’s artificial intelligence. AI is now at the heart of fraud detection, customer service, and transaction optimization, making global payments more secure and efficient.

Black Banx has fully embraced AI, using predictive analytics and automated systems to streamline operations. AI-driven chatbots handle customer inquiries, reducing response times and improving service efficiency. Meanwhile, real-time fraud detection algorithms flag suspicious transactions, preventing financial losses and building customer trust.

The results? Black Banx achieved a cost/income ratio of just 68% in 2024—one of the best in the industry—demonstrating how AI-powered automation can drive profitability while maintaining top-tier service.

Financial Inclusion: Breaking Down Barriers

Despite living in a digital age, over 1.4 billion people worldwide remain unbanked, according to the World Bank. Traditional banks have long failed to serve these individuals due to bureaucratic hurdles, geographic limitations, and high fees. Black Banx has made financial inclusion one of its core missions, particularly in underbanked regions like Africa, the Middle East, and parts of Asia-Pacific.

In 2024, the company’s impact on financial inclusion was profound:

32% year-over-year increase in SME clients in Africa and the Middle East – Black Banx empowered businesses in these regions with seamless digital banking services, reducing reliance on inefficient traditional banking channels.
Instant digital accounts with minimal documentation – Unlike traditional banks, which require extensive paperwork, Black Banx allows users to open accounts quickly, enabling greater access to financial services.
Affordable cross-border transactions – By eliminating intermediaries, the company ensures that even those in remote regions can send and receive payments without excessive fees.

The Future of Cross-Border Payments: Crypto and Blockchain

Cryptocurrency is no longer a niche asset—it’s gradually become a key cog in the global payments machine. Recognizing this early on, Black Banx became one of the first digital banks to integrate Bitcoin and Ethereum into its platform back in 2016.

In 2024, the company doubled down on its crypto-first strategy, incorporating Solana and the Lightning Network. These technologies allow users to complete cross-border transactions in seconds while avoiding the high fees and delays associated with traditional banking infrastructure.

Black Banx is also exploring crypto-based lending services, a move that could disrupt traditional financial models even further. If successful, decentralized finance (DeFi) solutions could provide businesses and individuals with access to capital without the constraints of conventional banking regulations.

A Year of Record-Breaking Financial Success

While many tech companies faced financial turbulence in 2024, Black Banx defied expectations, posting record-breaking numbers:

Annual revenue: US$11.1 billion (exceeding the forecasted US$10.8 billion)
Pre-tax profit: US$3.6 billion (far surpassing the original US$2.4 billion projection)
Customer base: 69 million users worldwide
Cost/income ratio: 68% – demonstrating operational efficiency
Capital distributions: US$2.90 per share

Black Banx’s financial success highlights the immense demand for efficient digital banking services, proving that fintech is not just a disruptor but the future of global finance.

What’s Next for Black Banx in 2025?

Given its past success, Black Banx is setting ambitious goals to build on its 2024 momentum. The company aims to:

Expand its customer base to 100 million users – By reaching more individuals in emerging markets, Black Banx hopes to further its mission of financial inclusion.
Strengthen its presence in digital asset banking – With growing demand for cryptocurrency-based financial services, the company will continue integrating blockchain solutions.
Enhance global payments infrastructure – By entering new markets and refining its AI-driven systems, Black Banx plans to make transactions even faster and more accessible.
Lower its cost/income ratio – Through further automation and AI optimization, the company aims to improve operational efficiency.

By embracing AI, blockchain, and a relentless commitment to financial inclusion, Black Banx has clearly been key in accelerating the transition of the world to a truly global payments system.