The demand for jobs in the cryptocurrency, non-fungible tokens (NFTs) and blockchain space saw a massive increase during the pandemic as technology adoption grew at a rapid pace across the country, a report said.

While job postings for cryptocurrency, blockchain, and NFTs jumped 804 percent between April 2020 to April 2022, there was a 15 times rise when compared with April 2019, according to job listings portal Indeed’s report.

The data also shows an acceleration in the market's demand as in 2022, the increase in job postings was 315 percent.

This highlights the role of the pandemic in this sustained growth, the report said, adding, “The COVID-19 pandemic has fast-tracked the adoption of technology across functions in India, hence technology professionals are more in demand than ever before, especially with expertise in newer areas like cryptocurrency, NFTs and blockchain.”

Which profiles are in most demand?

The top job role across this field is application developer, followed by data engineer and full-stack developer, Indeed report says.

Source: Indeed

According to the portal’s data, crypto roles appear to be one of the biggest share of hires in overall technology job roles, increasing from 41.22 percent in 2019 - 2020 to 67.48 percent in 2021 -2022.

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Technology hubs like Bengaluru and Hyderabad continue to lead with hiring in the sector while the national capital region is also seeing a fair share of interest in the sector, the report said.

Sashi Kumar, Head of Sales for Indeed India said being a technology-first economy, Indian firms are rapidly investing in technologies that will put the country at the forefront of this new digital era.

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Does an increase in crypto jobs imply a decline in security issues?

According to the report, the space still has scaling issues and security concerns although sectors such as finance, healthcare, and gaming are increasingly implementing decentralised finance, signaling the growing demand for jobs.

“While blockchain development promises to be an exciting new field of work and offers tremendous scope for application, the sector is still very nascent,'' said Kumar.

First Published:Jun 21, 2022 3:44 PM IST