New research has found that one in 400 software developers in India have the necessary skills to work with the blockchain technology.
Figures from outbound hiring startup Belong discovered that ‘only 5,000 of India’s estimated two million software developers are equipped to work on blockchain platforms,’ reports the Economic Times. The research found that 60 percent of the 5,000 were located within IT and IT-enabled service businesses, with the rest at software product companies and financial service providers.
The figures suggest that there is a huge gap in the market that needs to be filled in order to ensure that India doesn’t fall behind with blockchain development. Notably, though, at a time when different organisations are turning their attention to the technology, they are also struggling to find the right talent to meet their needs.
The research also discovered that of the 5,000 skilled blockchain developers, a further 10,000 had basic skills in the technology, while an additional 30,000 software developers required extensive training to be hired as experts in the technology.
However, despite the lack of talent at the moment, Rishabh Kaul, co-founder of Belong, remains optimistic and said:
The demand for blockchain experts is only expected to grow.
Yet, while there is still optimism with the technology, another report suggests otherwise that it’s not the way forward.
Earlier this week, it was reported that 34 percent of chief information officers (CIOs) had no interest in adopting the technology. Of the 3,000 CIOs surveyed worldwide by Gartner, only one percent indicated any type of blockchain adoption within their companies. Notably, 18 percent stated that the skills required for the technology were the most difficult to find.
David Furlonger, vice president and Gartner Fellow, said:
The challenge for CIOs is not just finding and retaining qualified engineers, but finding enough to accommodate growth in resources as blockchain developments grow. Qualified engineers may be cautious due to the historically libertarian and maverick nature of the blockchain developer community.
Featured image from Shutterstock.