IT professionals are curious to know more about making a career in blockchain. Over the decade, technology has become the backbone of Indian businesses. And organizations have been mutating with technology to flourish their ecosystem. Information technology has helped achieve desired goals with optimal business continuity, building advanced security and proactive disaster recovery management. With blockchain technology around the corner, we will be introduced to Web 3.0, enabling users to benefit from Smart Contracts, Edge Computing, Non-fungible Tokens and more.
People new to this term can imagine blockchain technology as the information stored in the form of blocks on a network. Where every system in that network has a copy of an entire data set. And that leads to improved transparency, preventing data loss, and ensuring better data security. Blockchain technology is highly applicable in securing finance & accounting processes; and improving data management, such as in the supply chain. And these processes are implemented in various industries.
Why have a career in Blockchain?
The Indian Government has already released a National Strategy to integrate blockchain. Likewise, private sector companies have already started exploring the uses of blockchain. By 2024, more than 50% of private businesses in India are expecting to adopt blockchain technology to improve their security and operational effectiveness. That anticipates a remarkable growth potential of blockchain in India.
“Blockchain is a very promising technical field for business people and technology professionals. Moreover, as many industry professionals are keen to find out the applications of blockchain in business, getting a job in this field will be very lucrative”, he added.
How to get jobs in Blockchain Technology
A blockchain developer needs to research, analyze and design blockchain networks. Therefore, planning security and compliance across their blockchain network is necessary. Their responsibilities also include developing, testing, monitoring and maintaining the blockchain network and the decentralized applications on that network.
There are multiple disciplines in blockchain where professionals can embark on their journey in this field. Managing a blockchain network will require a team of professionals with an adequate understanding of blockchain. A Blockchain Architect will be responsible for strategically planning out the solution and leading the team to meet the project requirements. Whereas a Blockchain Developer and Designer are the professionals who will create and design the application respectively for the blockchain network. Likewise, there are Legal Consultants, Data Scientists, Research Analysts, QA Engineers and many more skill sets that will contribute to their expertise.
Salary to expect in the Blockchain Industry
Many leading IT companies have already started hiring Blockchain Developers & Architects. Based on a candidate’s skill set and qualification, few organizations offer paid internships up to ₹10 LPA for freshers. Whereas, for experienced blockchain professionals, Deloitte is handing out a package of ₹18 to ₹22 LPA to a Blockchain Developer. Similarly, Infosys & TCS are ₹20 LPA to Blockchain Consultants. Furthermore, Jio has offered packages up to ₹30 LPA for Blockchain Developers. And many consultancies across Bengaluru are offering a whopping package of ₹35 to ₹40 LPA to Blockchain Engineers.
To sum up, a career in the blockchain profession looks very demanding, and with the right skill sets, candidates can indeed have a lucrative career.