Bengaluru: Job postings for cryptocurrency, blockchain, NFTs have grown 804 percent 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 percent.
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.
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.
"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.
(This report has been published as part of the auto-generated syndicate wire feed. No editing has been done in the headline or the body by ABP Live.)
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.