India: The Untapped Giant
Introduction
- The developer community in India comprises of more than 7 million developers.
- According to a study by Indeed, blockchain jobs have increased by 290% since 2017 and is still growing at an exponential rate.
- India has launched its biggest blockchain project called “Indiachain” to be implemented in overall governance.
India being one of the most populous countries in the world also harbours a huge community of 7 million developers.
According to Dappros, a London based consulting firm, India has the second largest number of blockchain developers in the world after the USA.
Further, more than 200,000 computer science engineering students graduate every year, giving India the opportunity to take blockchain developer numbers even higher by bringing in young minds and educating them more on this disruptive technology.
India also ranks 6th in the world for blockchain patent approvals, which clearly indicates India’s strong interest on blockchain.
Blockchain Job Trends in India
According to a report by Indeed, the number of cryptocurrency and blockchain related job witnessed a notable spike since 2017. There are job postings for roles like — blockchain developer, blockchain system architect, blockchain engineer etc.
Bengaluru, also known as the ‘Silicon valley of India’ is the leading city in terms of blockchain job opportunities comprising almost 37% of all blockchain job posts in India.
Other cities harbouring giant tech companies like Hyderabad, Pune, Mumbai, Chennai and Gurugram have also seen a significant rise in blockchain opportunities.
Kumar from Indeed even says — “the market, globally for blockchain related products and services is expected to reach USD 7.7 billion in 2022, which is indicative of even more jobs being created in the sector in the future.”
IndiaChain: Indian Govt’s biggest blockchain project
NITI Aayog, the government’s policy think tank is implementing Indian govt’s biggest blockchain project — IndiaChain to manage India’s public records efficiently.
IndiaChain in its first phase will take into its fold agriculture, land records, and electricity distribution ‘proof of concept’ or PoC cases. Eventually, it will be linked with Aadhaar to secure individual identity.
The major goals of this project revolves around three sectors — agriculture, finance and land registry. With blockchain, the govt will be able to enforce contracts quicker, prevent fraudulent transactions, help farmers through the efficient disbursement of subsidies etc.
Conclusion
In a nutshell, India has already taken its first steps towards blockchain adoption. India has realised the disruptive powers of this decentralised technology and in the coming years, it could alter the current governance system in the country.
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