One In 400 Software Developers In India Have Blockchain Skills: Report

by CXOtoday News Desk    May 14, 2018

blockchain

Only 5000 of India’s estimated two million software developers are equipped to work on blockchain platforms, according to a recently conducted research by outbound hiring startup Belong. This alarming statistical figure implies that only one out of every 400 software developers in India can work on the blockchain technology, reports the Economic Times. About 60% of these 5000 developers are working at IT and IT-enabled services companies. Others are spread across software product companies and financial services providers. 

The startup shared that the parameters of the research included three key skills- data science, algorithms and cryptography. The report also said that an additional 10000 developers can be trained based on their track record in the fintech industry. 

As found by the research report, top notch IT service companies such as Infosys and IBM are increasingly adopting blockchain technology for large-scale financial and non-financial transactions for their customers. Along with IT companies, Indian government too is increasingly exploring opportunities with the blockchain technology to bring more transparency in administration systems such as land records and registration systems. 

However, while the organisations are exploring the opportunities of using the said technology, they are facing the talent crunch as well, said the report. As the numbers revealed, there is a very less IT population which is ready to work on the blockchain technology.

Apart from the 5000 highly-skilled and 10000 developers with rudimentary skills in blockchain, according to the research, an additional 30,000 software developers are exposed to these skills in back-end technology roles and require extensive training and upskilling to be hired as a blockchain experts.  Bengaluru emerged as the top hub for blockchain developer talent followed by NCR, Mumbai, Hyderabad, Pune and Chennai. 

“The demand for blockchain experts is only expected to grow,” said Rishabh Kaul, co-founder, Belong, adding that beyond cryptocurrencies blockchain is showing promises in industries such as manufacturing and distribution, virtual gaming, music.