Tuesday, January 31, 2023

How Are Employers Looking at Blockchain and Cryptocurrency Skilled Jobs in India?

Mr Harsh Bharwani, CEO & MD of Jetking tell us about how are employers looking at Blockchain and Cryptocurrency skilled jobs in India.

Digital advancement is increasing the requirements of trained and skilled persons for the Blockchain and cryptocurrency. While cryptocurrency is a buzzing topic, no wonder the need for professionals is also growing day by day. Hiring the right person to take care of the crypto platform and maintain its security level has become the topmost priority for many organisations. 

Here is how employers are making changes at the recruitment level. Before we move on to the employment changes and trends, let us learn a bit about Cryptocurrency and its bedrock, Blockchain technology.  

Blockchain and Cryptocurrency 

Blockchain is a digital ledger that is a prerequisite for exchanging value online without any interference from authority or organisation. As it has no central authority, Blockchain technology allows faster and more secure transactions in real time. 

Cryptocurrency is the new-age digital means of transactions that are considered to offer high yields using an encrypted algorithm. Blockchain is the technology that supports cryptocurrency to run on a safer platform. It’s a decentralized medium that stores all transactional records or blocks securely. 

How Will Cryptocurrency Foster Indian Job Market in the Few Decades? 

Growing popularity to invest in cryptocurrency compelled firms to extend openings for developers in the field of smart contracts, data analysis, cybersecurity, web development, UI interface development, etc. India’s tech sector is brimming with the search for an efficient talent pool and steering to be the next global leader in the next few years. 

The country also fosters a large number of crypto owners and 60% of Indian states are adopting the new age crypto revolutions. More than 230 start-up companies in the country are showing their potential to take the lead to the highest level. 

What are the Skills for the Placements in Crypto Companies? 

If you aspire to have a career in Blockchain technology, you need to have extensive knowledge of programming languages such as Java, JavaScript, C++, Python, etc. Having a Blockchain course certificate will add an advantage to your portfolio and help you stay ahead of other applicants. In addition, you need to have some interpersonal, analytical, and problem-solving skills to cope with the corporate environment. 

Apart from the multinational tech companies, many accountancy firms, oil and gas companies, and startups have a huge demand for crypto virtuosos. So, if you are skilled enough and feel comfortable with cryptographic activities, recruiters are happy to onboard you in their companies. 

Based on your skills and interests, you can opt for various career options for Blockchain technology like Blockchain developer, Project Manager, UX Designer, Legal Consultant, etc. You can also seek your placement for Crypto brokers, Crypto Journalists, and many more. 

Why is Cybersecurity Crucial for the Blockchain and Cryptocurrency Industry? 

Every Blockchain-based firm needs to arm its security with cybersecurity. To avoid any online attack, one must come up with the best security plans to protect the Internet of things. One needs to ensure that the Cyber criminals are not successful at tampering with the overall integrity and infusing some illegal activities. 

Organisations that have application areas such as E-commerce, cloud computing, public services, healthcare, and finance must incorporate cybersecurity. Cybersecurity will maintain a healthy Blockchain environment, prevent data loss and save additional expenses. Without the implementation of tight security, a crypto firm is susceptible to hackers’ attacks and the loss of confidential information. 

Cybersecurity will help cryptocurrency trading platforms to stay safe while transactions and free from ransomware attacks. If not well protected, crypto investors will be dubious to invest in the industry. So, an organisation needs to follow some of the best cybersecurity practices available in the market. Professionals who are skilled at providing cyber security are much in demand these days for they can prevent any fund stealing. 

How Can Blockchain Application and Cryptocurrency Modify the Job Roles in Indian Scenarios? 

India has a vast population of educated and dedicated youth. With the ongoing high demand for crypto professionals all over the world has also touched the Indian market. India showed resilience even during the global financial crisis and has the potential to take its financial leadership to the next level. 

India’s extensive IT sector is constantly contributing highly skilled individuals for global requirements. Bitcoin, the most popular cryptocurrency, is considered every crypto person’s first choice which gets backed by Blockchain. In India, Blockchain is getting a lot of traction in various industries such as banking, insurance, retail, cross-border payments, supply chain financing, trade finance, and many more. As a result, a huge employment requirement has been created and needs to be filled to meet the goals.

To aid many aspirants, many training institutions are coming up with courses like Blockchain development, cloud computing, ethical hacking, and many more associated courses. Crypto firms are willing to provide outstanding money-making opportunities, skill training, and job security. 

As the pandemic has rocked the Indian economy in the last two years, the country needs to compensate with a rapid growth rate. Indian Prime Minister, Narendra Modi envisages India to obtain a $5 Trillion economy by 2024 which necessitates India to have a growth rate of more than 10.8%. To achieve this much amount of growth within such a short time, Blockchain innovation and the cryptocurrency industry will work incredibly. Indian crypto investors are seeing this as an opportunity and having an upward swing since 2021. 

As per a Specialist Staffing Solutions company, Xpheno, there is a requirement of 10,000 active crypto job profiles in the coming years. Because of the current demand for crypto specialists, since last year, job posting platforms like LinkedIn saw an upsurge of 395% as compared to previous years.

The country is also shifting its focus from Web 2.0 to Web 3.0 and requires lots of skilled individuals to meet its financial goals. NFT and Metaverse are also showing their growing interest among tech-savvy people. As a result, cybersecurity has become crucial for these cultures. Hence, there will be lots of recruitment in the country in the upcoming days and the youths must be ready to fill the voids.

Read: Hive, a Blockchain startup has contracted Intel for its Bonanza Mine chips

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Rahul Roy
Rahul Roy
I am a computer guy by profession and a sports fanatic by choice.


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