A study conducted by LinkedIn reveals that crypto-related job postings saw a stern rise last year, even when compared with other industries.
HIGHLIGHTS
Crypto-related job postings surged by 395 per cent last year.
Hiring demand surged last year amid an influx of funding.
India is yet to issue to finalize its crypto policy.
Cryptocurrency's popularity is growing at a rapid pace, and it is being speculated that it will play a significant role in disrupting the world's economy in the coming years. A study conducted by LinkedIn reveals that crypto-related job postings saw a stern rise last year, even when compared with other industries.
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Postings with titles such as "bitcoin," "ethereum," "blockchain", and "cryptocurrency" grew by 395 per cent in the US from 2020 to 2021, according to the study. The report says that this is significantly higher than the 98 per cent increase in job listings in the broader tech industry over the same time period.
While most of the job postings were available in the software and finance sectors, other industries are also seeing a rise in demand for crypto talent. These include professional services like accounting and consulting, as well as the staffing and computer hardware sectors.
Hiring demand surged last year amid an influx of funding. According to PitchBook data, investors all over the world spent $30 billion on crypto and blockchain startups in the year 2021. But, the interest in crypto was mainly aroused when high profile evangelists like Elon Musk and Jack Dorsey showed strong support for the latest technology. In India, too, popularists such as Amitabh Bachchan, Salman Khan and Ranveer Singh endorsed this tech.
Speaking of which, the Indian government hasn't yet introduced Cryptocurrency and Regulation of Official Digital Currency Bill and a report from Economic Times suggests that this is unlikely to happen in the upcoming budget session of Parliament. It is being said that the Indian government is first waiting for the pilot launch of the Reserve Bank of India's digital currency, which might take place in the coming months. The reason behind the delay could also be the lack of consensus over the taxation framework for digital currency.
While there are several legislative challenges, India ranks second in cryptocurrency adoption, according to the 2021 Global Crypto Adoption Index. It was recently revealed that India has more than 10 core cryptocurrency owners, which is more than other countries.
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