As the Indian government considers tighter regulation, the local jobs market in cryptocurrency and blockchain appears to be rocketing… Against a backdrop of a potential government clampdown on the cryptocurrency industry, it’s been revealed that the jobs market for crypto in India is quietly booming.
According to the Indian sector of the recruitment website Indeed, there’s been a boost of 290% in the number of cryptocurrency-related jobs postings. This increase was measured in the six months to November 2017. Its report added that “job searches with keywords related to cryptocurrency/blockchain also rose by 52 per cent”.
Sashi Kumar, the managing director of Indeed India, is predicting that this is just the start, too. He added that “the market, globally for blockchain related products and services is expected to reach $7.7 billion in 2022, which is indicative of even more jobs being created in the sector in the future”.
The growth in India appears to be in parallel to, ironically, local incoming local regulation. The country’s finance minister, Arun Jaitley, declared in the last week that cryptocurrency is not considered as legal tender – although he specifically didn’t say, as had been construed, that cryptocurrency was banned in India. Nonetheless, his words sent ripples around the global crypto sector.
The Indian government is now setting up a panel the examine unregulated exchanges, and the trading of cryptocurrency. A report is due to be submitted for consideration by the end of March. In the meantime, the jobs boom is set to continue…