blockchain india

What is the future scope of blockchain technology in India?

Blockchain technology took off in the global economy since the year 2016 due to the hype in Bitcoin and hasn’t looked back since. India is still warming up to this particular sector and shows great promise for those interested in taking a deeper dive into the field as a profession. The Coronavirus pandemic of 2020 has only emphasized on the importance of cashless transactions in this year, where close contact held great risks. The periods of mandatory lockdowns had one saving grace to get the commodities you required, which are still extensively being fulfilled by apps like UPI and G-Pay. 

There is considerable growth in the rate of demand for Blockchain Developers and professionals in India, especially down South. Cities such as Bengaluru, Mumbai, Pune, Hyderabad, and Chennai are the places where one can find jobs in blockchain technology since these locations are hubs of technological jobs. If you’re someone who is interested in a career within blockchain technology, our blog is here to help you with that. We will discuss the career options and scope that blockchain technology entails in 2020.

Without much delay, let’s jump right in!

Your career choices in blockchain technology

Making a career in blockchain technology is relatively new to this country. However, the premier technological institutes of India such as the IITs, BITS, and VIT have been equipping their computer science streams with the latest curriculum to satisfy the increasing demands of blockchain technology experts in the country. With extremely competitive and attractive pay packages, this industry is demanding just as it is rewarding. Coupled together with the Fintech, Insurance, Logistics, Healthcare, and Public Administration industries, a blockchain technology professional can just about land a great job in reputed organizations and emerging startups showing great promise. As a blockchain technology professional, you have the following options in your career:

  • Blockchain Developer
  • Blockchain Software Engineer
  • Blockchain System Architect

The greatest advantage you can have at this time is the scarcity of experts in this field. Since you can also acquire a degree in blockchain technology through distance education and legitimate online courses, it becomes easier to hop on board. However, harnessing your full potential to gain technical knowledge and practical expertise is all up to the candidate.

Scope of blockchain technology in India 2020

NITI Aayog’s pilot project called India Chain is a stride forward to create opportunities in the blockchain technology niche for candidates. Another feather in the cap for India’s blockchain technological advancement is Andhra Pradesh, the state that successfully employed the potential of blockchain technology to keep a record of land. While there lies even greater opportunity for the finance sector to create a safe channel to eliminate frauds, financial scandals, and create a better payment infrastructure for the public. Apart from these, there are several niches that could use the help of blockchain technology:

  • Intellectual property rights protection – Content creators, artists, and publishing parties can avoid plagiarism by using blockchain technology to protect their ownership of intellectual property. Tracking the origin of the intellectual property and making the details of the creator public will avoid piracy.
  • Secure File Storage: Data hacking is one of the most insidious problems, especially with enemy software and applications in the market. Since data is stored in different networks, blockchain technology can be used to create excellent data security protocols.
  • Enforcing transparency in Administration – Blockchain technology can be utilized effectively through smart contracts that are publicly accessible to ensure elections and polls are transparent and free from corruption.
  • Crowdsourcing VC funds: Ethereum and other blockchain frameworks can help organizations and startups to collect venture capital by purchasing tokens and choose capital investments to lead to direct collaboration between the companies and the public.

Blockchain is foreseen to gain even more important along with machine learning and artificial intelligence in the coming years. As technology progresses, so does the global economy adapt to the changes by integrating their systems appropriately to make the best of the times. Zoek is a job-seeking portal dedicated to bringing you the best opportunities to amplify your professional career while imparting knowledge through our info hub. To explore more career options, visit our career guides.

Shina Pal
Shina Pal
Shina holds an engineering degree from a reputed college.Skilled in Public Relations, Project Management, Business Management, Negotiation and besides these her interest in writing for various technology platforms. She is an avid follower of Technology and passionate about the latest technologies.