While blockchain has arrived with fanfare on the technology scene, India is gearing up to meet this new demand. Several startups and established companies are trying to either come up with innovative ways of using blockchain in existing technology or introducing completely new technology that is dependent on blockchain. At times, the need to use blockchain is indeed just to keep up with the ever changing market.
Having said that, last year, a Bengaluru-based hiring solutions firm Belong published a research report that found out that only 0.25% of India’s software workforce is blockchain ready. Forward to 2019, has the situation changed? Opportunity is knocking on all sectors when it comes to blockchain, but is India ready with the supply? Given the fact that India has sped ahead in fintech in recent years, and since fintech is one of the favourite playing fields of blockchain technology, India is likely to train more and more people.
Blockchain News This Week: India and the World
Very recently, blockchain hackathon Genesis Hack has partnered with Singapore based Marlin Protocol, a decentralized content delivery network, to create a knowledge-driven blockchain developer community in India. They aim to provide technological support and mentorships for participant developers. Representatives from the Marlin Protocol team will work closely with Genesis Hack to train and educate developers about blockchain technology.
“The aim of Genesis Hack is to hone the blockchain developer talent in India and Marlin will help us in achieving that. Through its knowledge, technology, and community-based support, the Marlin team will contribute invaluably to India’s blockchain revolution,” said Raghu Mohan, CEO of IBC Media.
“India is an emerging market for Distributed Ledger Technology and with its powerhouse of technical talent, is well-poised to ride on the adoption journey for blockchain. Genesis Hack aims to bring the best out of Indian tech talent and connect developers with Global Blockchain brands,” said Nilotpal Mukherjee, the Chief Business Officer at Marlin.
Blockchain News This Week: India and the World
While more such efforts are made in India, another concern that might plague the Indian blockchain market is brain drain. The high demand for blockchain experts in areas such as banking, non-banking financial companies (NBFCs), global inhouse centres, as well as other public sector firms, are ensuring top salary. A blockchain expert can reportedly expect double, or even triple, the average salary of a software engineer. According to a report in ET, three years of blockchain experience could mean a salary of around or above INR 45 lakh.
However, the fact that the demand for blockchain experts is not limited to India only, there is a big chance that a big chunk of the already small talent pool of Indian blockchain developers will opt to work abroad when exciting offers pour in. Keeping this in mind, India should look to honing blockchain skills en masse.
A word from our Sponsor: Looking for Content Marketing support? Click here.
