Blockchain has come a long way, permeated various industries, and became a necessary technology for many solutions. Companies around the world are exploring new possibilities offered by blockchain and finding ways to improve their operations with their help.
If you want to start working on a blockchain project, you’ll face a big decision from the start-whether to hire an in-house team or outsource your project to a blockchain development company.
Let’s take a look at both approaches.
Hiring an in-house team
Nowadays being a blockchain developer means having the opportunity to choose a job as there are about 14 times more job openings than developers. So the first issue you have to face when building your own team is choosing highly skilled professionals and offering them a position with better working conditions and better pay from other companies. So having a team like that can be very time-consuming and expensive.
Even if you manage to find enough professionals, some may not have the experience to work on the types of projects you need, so additional training may be required.
What’s more, you need to get all the tools and technology needed to give your team everything they need to start developing your blockchain project. That, in turn, comes with a price you should be willing to pay.
Finally, an in-house development team is a risky investment, as it is the first time the people you hire have worked together.
On the other hand, having an in-house team gives you more control. You would always want to know what to do for the team and would be able to provide immediate instructions and feedback on their work.
Outsourcing Your Blockchain Project
It seems that outsourcing your project to a blockchain company might be a more sensible step right now.
First of all, there is the financial aspect. Put simply, because outsourcing companies often offer more competitive prices, you won’t have to spend a fortune on fees for your team.
What’s more, there is no need to buy technology and tools, because they are already owned by the company that offered to develop your blockchain product.
You also avoid the grueling process of choosing the right people to work on your blockchain project. Instead, you will have a team of professionals ready to understand, develop, and grow your product based on blockchain technology.
Finally, if you choose the right company, you can take a look at their previous projects. In other words, you will be able to determine their level of expertise and their ability to successfully complete your project.
However, there are also a few downsides to working with an outsourcing company.
First of all, you can’t have complete control over all the processes associated with your project. Many outsourcing companies will try to inform you of what they are doing, but you won’t be able to control them whenever you want. There are many things that prevent you from doing this, such as time zone differences and physical distances.
The second obstacle is the language barrier. Although the majority of outsourcing companies hire workers who speak only English, jobs still tend to get lost in translation, which can create unnecessary difficulties along the way.
Final Thoughts: outsourcing all the way
The industry that revolves around Blockchain technology is evolving very fast, and if you want to make the most of it, you have to move fast and catch the train while it’s still accelerating.
Since time is one of the key factors in this race, it is always better to work with a professional team with experience in building blockchain projects rather than hiring an in-house team. You will save time, as well as save money you will spend on creating and training a team.
In a nutshell, if you want to have complete control over your project and don’t like spending too much time and money on your idea of developing blockchain, feel free to hire an in-house team. But you have to understand that this comes with myriad risks.
So outsourcing is the best and safest option right now.