While bitcoin priceis dropping deeper into the red in the global market, India is seeing a rise in demand for bitcoin and cryptocurrency-related jobs. Popular job site Indeed says that most of these jobs are concentrated in five cities.
For those unaware, blockchain is a digital ledger that tracks bitcoin transactions or cryptocurrency. It is recorded chronologically and publicly, and is a shared record of information that is maintained and updated by a network of computers rather than a central authority.
According to Indeed's report, India's IT hub Bengaluru followed by Mumbai, Hyderabad, Pune, and Chennai are the top five destinations for blockchain careers in the country. Nearly 36 percent of all the blockchain postings in India are in Bengaluru.
The national capital New Delhi and neighboring places including Gurugram, Noida, and Mohali also witnessed a share of job postings in the sector, the report noted.
"Technology hubs like Bengaluru and Hyderabad continue to lead, while the national capital region is also seeing a fair share of interest in the sector. With the global market for blockchain-related products and services is expected to reach USD 7.7 billion in 2022, there are sure to be even more jobs created in the sector in the future," PTI reports quoting Indeed India Managing Director Sashi Kumar as saying
"While we still have a lot to learn about blockchain technology, given the enormous scope of its application, interest for blockchain roles is here to stay," Sashi Kumar added.
Regulators in India have repeatedly targeted cryptocurrency exchanges and commented that bitcoin and digital currencies are not legal tender. However, blockchain-related jobs have been reportedly growing over the past three years and tripled in number in 2017 alone.