According to a recent study, 5,000 Indian software developers currently have the skill sets to work on cryptocurrency and blockchain projects. 10,000 more developers can be easily trained but an additional 30,000 would require extensive training.
5,000 Developers Qualified
A recent study by HR company Belong shows that, out of an estimated two million software developers in India, about 0.25% of them have the skills to work on cryptocurrency and blockchain projects, the Times of India reported this week. The study was conductedon two million software developers over the last year. The company found that only 5,000 of them have the necessary combination of skills such as ?쐂ata science, algorithms and cryptographyto be qualified to work with cryptocurrencies or blockchains.
Belong co-founder Rishabh Kaul asserted that ?쏧ndia does have the potential to train another 10,000 developerswith prior experience in the fintech industry so that they are equipped with the proper skill sets to work on cryptocurrency projects. However, he noted that another 30,000 software developers who have worked ?쐇n back-end tech rolesstill ?쐒equire extensive training and upskillingbefore they have the proper skill sets to work as blockchain experts on crypto projects.
However, companies are facing challenges in finding qualified developers, Belong study revealed. Kaul explained that the demand for developers with the right skill sets needed for projects related to cryptocurrency and blockchain technology is expected to grow further, adding that:
Developers must essentially have skills in data science, algorithms and cryptography to work on such platforms.
Thenumber of companies looking to enter the cryptocurrency space is increasing. Burning Glass Technologies wrote in October last year that ?쐀ecause of its connection with ‘cryptocurrencies,’ blockchain is associated with finance, and major banks like Liberty Mutual, Capital One, and Bank of America have posted openings./p>
Earlier this month, freelance employment website Upwork released its Q1 2018 skills index. “The Upwork Skills Index ranks the site 20 fastest-growing skills in a quarterly series that sheds light on new and emerging skills as an indication of hot freelance job market trends,” the company described. Blockchain tops the top 20 fastest-growing skills in the time period, the company detailed, adding:
Its growth exceeded 2,000% for three quarters in a row on Upwork.com, and in Q1 it experienced more than 6,000% year-over-year growth, making it the fastest-growing skill out of more than 5,000 skills on the site.
What do you think of the number of qualified Indian developers? Let us know in the comments section below.
Images courtesy of Shutterstock.
Need to calculate your bitcoin holdings? Check ourtoolssection.
source : news.bitcoin.com