Jobs into Crypto, blockchain & NFT surges

Despite the ugly state of crypto markets globally, the cryptocurrency and blockchain industry is experiencing a downpour of jobs. The demand for jobs in the cryptocurrency, non-fungible tokens and blockchain space witnessed a massive increase during the pandemic as technology adoption grew at a rapid pace across the country, a report said.

As per the report by the global job portal reveals that, job postings for cryptocurrency, blockchain, and NFTs have grown by 804% between April 2020-April 2022. 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 accelerated the use of technology across functions in India, resulting in a higher need for technology professionals, particularly those with knowledge in newer areas like cryptocurrency, NFTs, and blockchain. Whereas the 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 percent in 2019 - 2020 to 67.48 percent in 2021 -2022. Globally, over 80 percent of companies are investing or are planning to invest in emerging technologies.

Several companies in India are enthusiastic about embracing new technology, some react to it differently. 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.

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. In India, enterprises’ priority in terms of spending is more in process automation and smarter analytics compared to the companies across the globe.

We are seeing digital and emerging technologies adoption on steroids by organisations globally. This has helped put customers at the center of corporate strategy. Traditional business models have struggled to survive or have been disrupted massively. 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.

Whereas, blockchain promises to be an exciting new field of work and offers tremendous scope for application, the sector is still very nascent. The report says, 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.