16 (FILEminimizer)|Untitled

One of the leading job portals in India, Ineed.com has come out with a report which states that the number of jobs in blockchain and cryptocurrency-related fields is flourishing despite FUD about India’s regulatory status in the country.

“In the six months to November 2017, the number of cryptocurrency and blockchain jobs posted on the Indeed website rose by 290 percent. In the same period, job searches with keywords related to cryptocurrency/blockchain also rose by 52 percent,” shared the report. The report further added that India currently has roughly 10 percent of all Bitcoin wallets, amounting to a total of 1.5 million.

While the nation has so far been welcoming to the idea of the blockchain, its attitude towards cryptocurrencies is not as optimistic. Sashi Kumar, Managing Director of Indeed India, said about as much regarding blockchain technology, noting that although the sector is still “in a very nascent stage,” the market is expected to reach $7.7 billion by 2022, “which is indicative of even more jobs being created in this sector in the future.”

Just a few days ago, on February 01, 2017, India’s Finance Minister in the annual budget announced that the government will eliminate the illegitimate usage of cryptocurrencies in the country. He also said that they will not be recognized as legal tender. The report further added that despite these statements, with the government’s “proactive approach” towards blockchain technology, “India can look forward to a truly digital economy.”

What is perhaps most astonishing is the fact that the cryptocurrency market in the country is growing despite the amount FUD regarding future government actions.

Although it seems much less likely now that the Indian government will ban cryptocurrencies outright, there is no telling what kinds of regulations they will impose on exchanges in the near future.

Only time will tell!!!!!