NEW DELHI: The number of active job openings in India’s blockchain industry has increased by 50 per cent since last year with 12,000 vacancies, according to Xpheno’s report, an Indian specialist talent solutions company.
The annual salary in the crypto industry has shot up to Rs 80 lakhs for crypto experts with 8 to 10 years of experience, according to the Xpheno report.
Kamal Karanth, the co-founder of Xpheno said that the mainstream visibility and talent-related progress of the crypto industry is still in its nascent stages, despite the industry being 12 years old.
The reason for such a sharp hike in remuneration is attributed to the shortage of a crypto talent base in India and abroad.
It is pushing up the salaries in Indian companies engaged with the global and domestic blockchain industry, the Economic Times reported.
Some other important findings about India’s crypto talent deficit in the Xpheno report are:
* Companies in the blockchain industry mostly search for employees having knowledge and experience in blockchain, machine learning, security solutions, Ripplex solutions, data analysis and front and back-end skills.
According to the Xpheno report, there is a 30 to 60 per cent shortage of skill-set with these specialisations.
* In niche skill areas such as data science and cybersecurity, the shortage is as high as 50 to 70 per cent.
* Karanth has predicted that the shortage of crypto-skilled workforce and the competition in wages will persist for the next two years.
In another report prepared by Nasscom, chamber of commerce of the trade industry in India and WazirX, the Indian crypto exchange, the following findings emerged about job vacancies in the crypto industry:
* Around 50,000 professionals are employed in India’s crypto industry currently.
* According to Sangeeta Gupta, senior vice president at Nasscom,, a 30 per cent increase in new jobs is expected in the coming months if the sector continues to grow at the current rate.
Since the cryptocurrency domain is still young,, there is a huge gap between the talent and available vacancies. Indian IT companies that are providing services to global clients, fintech start-ups and consulting firms have been competing for experts in the crypto domain.
(For the latest crypto news and investment tips, follow our Cryptocurrency page and for live cryptocurrency price updates, click here.)
The annual salary in the crypto industry has shot up to Rs 80 lakhs for crypto experts with 8 to 10 years of experience, according to the Xpheno report.
Kamal Karanth, the co-founder of Xpheno said that the mainstream visibility and talent-related progress of the crypto industry is still in its nascent stages, despite the industry being 12 years old.
The reason for such a sharp hike in remuneration is attributed to the shortage of a crypto talent base in India and abroad.
It is pushing up the salaries in Indian companies engaged with the global and domestic blockchain industry, the Economic Times reported.
Some other important findings about India’s crypto talent deficit in the Xpheno report are:
* Companies in the blockchain industry mostly search for employees having knowledge and experience in blockchain, machine learning, security solutions, Ripplex solutions, data analysis and front and back-end skills.
According to the Xpheno report, there is a 30 to 60 per cent shortage of skill-set with these specialisations.
* In niche skill areas such as data science and cybersecurity, the shortage is as high as 50 to 70 per cent.
* Karanth has predicted that the shortage of crypto-skilled workforce and the competition in wages will persist for the next two years.
In another report prepared by Nasscom, chamber of commerce of the trade industry in India and WazirX, the Indian crypto exchange, the following findings emerged about job vacancies in the crypto industry:
* Around 50,000 professionals are employed in India’s crypto industry currently.
* According to Sangeeta Gupta, senior vice president at Nasscom,, a 30 per cent increase in new jobs is expected in the coming months if the sector continues to grow at the current rate.
Since the cryptocurrency domain is still young,, there is a huge gap between the talent and available vacancies. Indian IT companies that are providing services to global clients, fintech start-ups and consulting firms have been competing for experts in the crypto domain.
(For the latest crypto news and investment tips, follow our Cryptocurrency page and for live cryptocurrency price updates, click here.)