Crypto Market is increasing job opportunities in India in various ways
As the current scenario of an upcoming recession in, most advanced economies are fearful of the future. W it’s the most advanced or the developing economies are afraid of the upcoming future & expected downfall of the economies, which is leading to layoffs, cost cutting in multiple ways in the organizations, downsizing of the organization irrespective of the Industry it belongs to except for Crypto markets & the boom in this industry.
In many countries, this industry is still in infant phase while in others it’s in the developing or moderate phase. But boom is common in each & every country as a whole.
In a recent study it has been retrieved that the job opportunities has been rise in this specific sector by more than 300% where our industries are forced to cut down their human resources & layoffs on per month basis.
Industrialists views on this changing scenario
Rajagopal Menon, Vice President, WazirX said that the latest study conducted by LinkedIn revealed that job postings containing “Cryptocurrency,” “Bitcoin,” or “Blockchain” increased 394% year over year from 2020 to 2021.
Menon said, “all these spikes in job opportunities happened even when there were no proper regulations or policies provided by the government. Once India has an enabling regulatory framework that recognizes the true potential of Blockchain and crypto’s along with the pool of developers and talent available in the country we have an opportunity to lay the foundation of the new internet, Web 3.0.”
In Menon’s view, crypto is where the next big gold rush is happening, and naturally, Venture Capitalists worldwide are extremely interested in investing in this space, irrespective of different rules & regulations by authorities in different countries, technological enhancement is still in process and various other factors keeping in mind.
Meanwhile, as per Amanjot Malhotra, Country Head – India, Bitay, the use of cryptocurrencies can provide a decentralized and communal approach toward job creation over a centrally-controlled and profit-driven approach.
Cryptocurrency seems to have established itself as a form of asset class, and Malhotra believes its economic impact is expected to be seen globally.
Among many egments, in which cryptos are expected to leave an impact, is also job creation, especially in India due to the recent boom in the industry.
Bitay’s India head cited Job posting platforms data which revealed job postings that are associated with terms such as cryptocurrency or Blockchain have increased more than 600% since November 2015, with a 1,000% growth in searches for jobs.
Crypto market jobs have increased by almost 16 times since 2019, which means that organizations are looking for human resources with expertise in blockchain and Crypto currency. Blockchain App developers, community managers, Asset managers, blockchain developers, and technical product managers, are some of the many roles which seems to be in huge demand, Malhotra explained.
Malhotra believes the this sector will attract a lot of talent from others as it is very attractive due to the current & expected growth in this segment. He mentioned, “A lot of job seekers from various domains who are looking for jobs will find a lot of opportunities in the cryptocurrency space.”
As, Malhotra said, “Insights from the industry have stated that the use of crypto currencies is expected to provide a decentralized and communal approach toward job creation over a centrally-controlled and profit-driven approach.”
