The blockchain is making its way in all the sectors of the Indian market. It was first introduced as the cryptocurrency operating format but it is far more efficient in handling huge data with apt security measures in almost all the domains. Despite that fact, India is working hard on the concept of digitalization there isn’t much progress on the blockchain platform. It has been widely accepted by big brands and MNC’s due to which the developers are moving abroad for better opportunities.
There is a significant delay in creating a blockchain framework that is causing a lose out on jobs, pulling in of capital infusion, problems lacking innovation, and cutthroat competition. This is all creating a setback position for India in the global market.
Blockchain Market In India
According to the Economic Times, it is mentioned that about 80% of the blockchain developers in India will have to move put due to lack of their profile jobs. If the government fails to implement a regulatory framework for the encryption based technology the talent will soon move out.
These results have come out from a research conducted by a blockchain based community named as Incrypt. This was conducted over a period of 6 months and focus on how the lack of infrastructure is affecting the budding talent. It is further revealed in the survey that there is not just the lack of infrastructure there is also a major delay in putting all these things up together.
Incrypt founder Nitin Sharma stated that this new technology is creating a unique job category. He further added that there is going to be a huge requirement of fullstack, front-end and back-end engineers on the global level. In the times when the IT industry is going through a crunch, this can be a saviour for many.
In case of appropriate implementation of this technology will rope in huge investment in terms of projects.
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