Digital Rupee may encourage crypto-related operators to provide more jobs in India, says GlobalData. This follows the announcement of India’s Finance Minister Nirmala Sitharaman in the Union Budget 2022 that Reserve Bank of India (RBI) will issue digital currency based on blockchain technology in 2022-2023.
“The announcement to leverage blockchain technology to create digital rupee may give an impetus to cryptocurrency exchange platforms and related companies that operate in India. The launch of a central bank-regulated digital currency in India could well mark a watershed moment that may encourage companies in the private space to increase hires around the emerging Web 3.0 technology.” said Ajay Kumar Thalluri, Business Fundamentals Analyst at GlobalData.
“Currently, most job listings in India are around supporting software operations to maintaining software infrastructure while some companies are looking to build partnerships and create the compliance framework.”
“The likes of Coinbase Global Inc, BitGo, Inc., and PayPal Holdings Inc, among others, are already hiring in India. BitGo and Coinbase listed roles as recent as January 2022 to recruit and build a team of engineers in India. Similarly, PayPal is hiring for software engineer roles for its blockchain, crypto and digital currencies (BCDC) business unit to drive continued growth.”
“Interestingly, Seychelles-based OKEX Technology Co Ltd is looking to manage and enhance relationships with local crypto influencers to identify potential affiliates and acquire users, ‘Affiliate Business Development Manager’ role listed in January 2022 shows. Another exchange network company, Ripple Labs Inc is building crypto compliance, among others, to support a global payments business. The company is growing its team of engineers.” said Ajay Kumar Thalluri.
