Crypto, Blockchain, NFT Jobs Witness 804% Growth in India Post COVID-19: Report

Bengaluru, June 21: Job postings for cryptocurrency, blockchain, NFTs have grown 804 per cent between April 2020 to April 2022, according to a report.

The report by global job portal Indeed also revealed an acceleration in the market's demand. In 2022, the increase was 315 per cent.

Job postings in April 2022 were 15 times more than in 2019, highlighting the role of the pandemic in this sustained growth.

The Covid-19 pandemic has fast tracked the adoption of technology across functions in India, hence technology professionals are more in demand than ever before, especially with expertise in newer areas like cryptocurrency, NFTs and blockchain, the report showed. Cryptocurrency Fraud: Indian Investors Likely Lost Rs 1,000 Cr to Fake Crypto Exchanges, Says Report.

Application developer is the top job role across this field, followed by data engineer and full stack developer.

The data also shows that crypto roles appear to be one of the biggest share of hires in overall technology job roles, increasing from 41.22 per cent in 2019 - 2020 to 67.48 per cent in 2021 -2022.

"Being a technology first economy, Indian firms are rapidly investing in technologies that will put the country at the forefront of this new digital era. Technology hubs like Bengaluru and Hyderabad continue to lead with hiring in the sector while the national capital region is also seeing a fair share of interest in the sector," said Sashi Kumar, Head of Sales for Indeed India, in a statement.

Although "blockchain promises to be an exciting new field of work and offers tremendous scope for application, the sector is still very nascent," Kumar added.

It still has scaling issues and security concerns. Nevertheless, sectors such as finance, healthcare, and gaming are increasingly implementing decentralised finance, signalling the growing demand for jobs, the report said.

A global report by Gartner forecasts that the business value generated by blockchain will grow rapidly, reaching $176 billion by 2025, potentially creating more job prospects.

(The above story first appeared on LatestLY on Jun 21, 2022 01:24 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).