Demand for hiring professionals increases as the internet moves to Web3

India has a large pool of startups, developers, and one of the largest internet consumers markets in the world. Web3, the third generation of the Internet, will create more jobs and opportunities and will enhance the economy.

Companies developing apps and Web3 platforms will require blockchain developers, machine learning specialists, app developers, front-end and back-end developers, user interface (UI) and user experience (UX) designers, data analytics professionals and content writers to take the benefits of Web3.

Web3 uses blockchain-based technologies to create a decentralized version of the web. The cryptotech industry already employs 50,000 individuals in India and has registered a growth of 39% in the past five yearsIndia already has 230 cryptotech startups.

Blockchain is among the top skills in demand across sectors. In February, there were 12,000 blockchain-related job openings in India, accounting for 4.5% of the total active job openings in the country. One out of five of these jobs will cater to the global market, with banking, financial services and insurance (BFSI) sector, currency exchanges, startups and investment funds’ biggest job-generators in Web3.