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Blockchain Startups In India Need More Experts To Grow

Blockchain startups in India feel the pinch of having fewer blockchain experts in this nascent industry. There is a shortfall as skilled professionals are hired by corporates with better packages. This has only made small-time startups to look out for freelancers abroad.

While there are 1,000 job=openings and only 400 are actually employable. There are 1,500-2,000 blockchain experts out of which 200-400 are the only ones who are skilled in core architecture. This shows the clear gap between the demand that hardly meets the supply.

Building applications is an easy task, but to build the same thing from the core is a challenge. There are developers who can build smart contracts, but to find those who can build from scratch is a real issue.

Alay Mehta, the founder of blockchain startup Chainex, said that hiring developers skilled in token programming, cryptography and full-stack development is quite difficult. “We later started working with freelancers, mostly from Russia and China,” he said. He further added that skilled freelancers charge about $20-40 an hourly, whereas in India the starting range in India is $35-40 for the same talent. Many startups in Switzerland Singapore work in the same fashion, and now the trend has caught up in India.

Many blockchain startups and corporates in India have started training employees in-house. Hyderabad-based PrimeTrade.ai has been training its employees for a year now. Sainath Gupta, the founder, stated that the regular developers take around two weeks to learn blockchain coding at the macro level, as published on The Economic Times.

Mahesh Makhija, leader, digital and emerging technology, at EY India, said, there is a significant skill gap in this field. “The skill gap exists across all the levels, but is very acute in the solution architecture and senior developer levels —which is why freelancers or training in-house has become common,” he said. Startups generally need someone to lay out the product strategy and then define the architecture.

While there is a huge gap that needs to be filled, Emurgo Academy has launched t’s academy to train the developers in blockchain coding. The academy aims to expand in Chennai, Mumbai Delhi and Pune by 2020 and collaborate with 200 institutions, as ET Tech reported.

The academy is trying to fill the gap by planning to train 2,500 developers in the next 12 months. The training will begin in April this year and consists of 175 hours of the process. The trainees will comprise of fresh talent as well as working professionals through a mix of online and offline classes. The training will be provided by SMEs and other blockchain experts. The students will further be evaluated by CXOs who can mentor them with the tools required for the particular architecture. “Emurgo majorly looks to fill the gap in the SME and startup sector,” said E Venkatesan, Chief executive officer, Emurgo Academy. Currently, edtech firms like Udacity, Simplilearn, Edureka and Coursera also provides blockchain courses.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Aabha Singh finds time from her hectic editorial schedule to write finance articles.

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