Connect with us

Blockchain

Demand for Crypto Experts in India Hikes Remuneration, Vacancies Spike

Published

on


A deficit in crypto talent is pushing salaries up in Indian companies engaged with the domestic and global blockchain industry, local media reported quoting data from recent studies. Demand for professionals in the field has been growing rapidly in the past year.

Crypto Experience Can Bring up to $100,000 in Annual Salary

Indian IT companies providing services to global clients, fintech startups, and consulting firms have been competing for specialists with experience in crypto technologies, resulting in what the Economic Times describes as a war of wages. A report by the business daily indicates that demand for this type of talent has increased significantly over the last months.

Demand for Crypto Experts in India Hikes Remuneration, Vacancies Spike

The number of active job openings this month, the newspaper wrote on Wednesday, stands at over 12,000 which represents a 50% increase since last year. The quoted numbers come from the latest report by staffing services company Xpheno.

The relatively young age of cryptocurrency technology, just over a decade old, is arguably the main reason behind the gap between the limited number of experts in the space and the available vacancies. The deficit of talent is exerting upward pressure on remuneration in the sector.

Salaries can reach up to 80 lakh Indian rupees annually, more than $106,000 at the time of writing, for specialists with eight to ten years of experience, the article notes. Commenting on the findings, Xpheno cofounder Kamal Karanth stated:

Despite the 12-year life of the crypto domain, its mainstream visibility and talent-related attention is under a decade.

Another report, prepared by the Indian tech industry association Nasscom and cryptocurrency exchange Wazirx, reveals that the country’s crypto-tech industry employs around 50,000 professionals. Sangeeta Gupta, senior vice president at Nasscom, told the Economic Times that the organization expects 30% more jobs to be created in the next months, if the sector maintains its current growth rate.

Companies in the industry are most often looking to hire people with blockchain, machine learning, security solutions, Ripplex solutions, data analysis, and front and back-end skills. According to Xpheno, there is a 30 to 60% shortage of talent supply in these high-demand skill sets.

However, for some niche skills in crypto, cybersecurity, data science, and other areas, the gap has already reached 50 to 70%. Kamal Karanth predicted that the competition for talent and the ongoing war of wages will continue for the next two years.

Do you think India will be able to train enough talent in the next two years to bridge the gap between the vacancies and the number of qualified candidates? Let us know in the comments section below.

Tags in this story
Blockchain, companies, competition, Crypto, crypto-tech, Cryptocurrencies, Cryptocurrency, data, deficit, Employees, experts, Fintech, fintech firms, fintech startups, Gap, India, Indian, Indians, IT companies, professionals, remuneration, report, Reports, salaries, specialists, staff, staffing, Startups, studies, Talent, wages

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Read disclaimer

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://news.bitcoin.com/demand-for-crypto-experts-in-india-hikes-remuneration-vacancies-spike/

Blockchain

SEC helped Ether Surpass XRP, Ripple CEO

Published

on

Ripple CEO Brad Garlinghouse has said that Ether (ETH) overtook the company’s XRP token by market capitalisation because of the US Securities and Exchanges Commission (SEC).

According to Garlinghouse, the US regulator’s approach towards ETH largely encouraged investors, giving it a free pass that enabled the smart contract platform’s native token to overtake XRP in the market.

 “Within the last few years, XRP was the second most valuable digital asset. As it became clear the SEC had given a hall pass to ETH, ETH obviously has kind of exploded and that clarity has helped,” he said.

Ripple’s XRP currently occupies the seventh spot among the largest cryptocurrencies, with a market cap of $52 billion according to data from CoinGecko. Ethereum has held the second spot for the last four years after deposing XRP during the 2017 bull run.  The Ether (ETH) cryptocurrency currently has a market cap of over $490 billion after its price surged to set a new all-time high above $4,000.

In comments made on Thursday 21 October at the DC Fintech Week, the Ripple exec also claimed that the SEC’s approach was based on “outdated” laws. He also wondered why a former official at the agency had found it easier to say Ethereum was not a security, yet SEC Chair Gary Gensler cannot make the same pronouncement.

Garlinghouse’s comments come at a time Ripple is battling the US watchdog’s charge that XRP is a security illegally sold by Ripple Labs and the company’s top brass. The company has also faced class-action lawsuits before.

Despite these events, more XRP holders feel the SEC has unfairly targeted Ripple, a view Garlinghouse also holds. According to him, there almost 50,000 holders of the token “are trying to sue the SEC for ‘protecting them‘.”

The tussle has seen the court allow XRP holders to become amicus curiae or friends of the court. However, the same judge handling the Ripple vs. SEC case ruled that token holders cannot join the proceedings as defendants.

XRP has lost about 67% of its value since touching an all-time high of $3.40 on 7 January 2018. However, its current price of around $1.11 means its value is up more than 27% in the past 30 days and more than 340% up since this time last year.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://coinjournal.net/news/sec-helped-ether-surpass-xrp-ripple-ceo/

Continue Reading

Blockchain

THORChain Jumps 35% on Ethereum Trading Restart 

Published

on

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

PlatoAi. Web3 Reimagined. Data Inteligence Amplifed.
Click here for Free Trial.

Source: https://cryptobriefing.com/thorchain-jumps-35-on-ethereum-trading-restart/?utm_source=main_feed&utm_medium=rss

Continue Reading

Blockchain

Cryptoeats Disappears After Raising £500K From Token Sale

Published

on


Cryptoeats, a company that reportedly raised 8 million in a Series A funding round to build a crypto-based Ubereats alternative, disappeared after launching its token. According to estimations, the startup might have taken more than £500K from investors after the launch of its official token dubbed “eats.” The alleged scam was promoted by UK influencers and manufactured related apparel, and even hosting a launching party in London.

Cryptoeats Initiative Vanishes After Token Launch

Cryptoeats, a company that proposed to build a crypto-based Ubereats alternative, vanished from the internet just minutes after launching its official token. The company, which had an official website and claimed to have raised funds to build their proposal, stated it had run a public beta of the service, partnering with food chains like Nando’s and McDonald’s.

Furthermore, the startup claimed it had already onboarded more than 100,000 customers, who have signed up to download the app and use it on launch day. But the developers of eats, the native token of the platform, emptied the wallet holding the funds coming from the initial token sale, stealing more than £500K from investors, according to reports. Soon after this, all of the social media accounts of the startup disappeared, along with its website.

Cryptoeats Looked Legit

Cryptoeats worried about looking legitimate before disappearing. The company first outed a PR statement where it claimed it had raised $8 million in its series A funding round in 2020. The PR statement, that was published on October 16, declared the company was “set to take a large slice of the $16.6 billion delivery app market.” The statement was issued using Globenewswire and was featured on Yahoo Finance’s website, but both references have been eliminated now.

At a local level, Cryptoeats also did its work bringing U.K. influencers to promote the new initiative among their fanbase. Joey Essex, a reality TV celebrity that promoted Cryptoeats, stated to local media he lamented the situation. Essex stressed:

I’m fuming. This company used my name to dupe lots of people into investing money. It’s disgusting and I feel bad for anybody in that situation.

But Essex was not the only local celebrity that promoted Cryptoeats. Lots of other influencers attended a launch party last week in London, where Cryptoeats apparel was shown and worn by some of the assistants.

What do you think about the whole Cryptoeats fiasco? Tell us in the comments section below.

Tags in this story

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Read disclaimer

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://news.bitcoin.com/cryptoeats-disappears-after-raising-500k-from-token-sale/

Continue Reading
Blockchain4 days ago

NY AG directs 2 crypto firms to shut down, investigates 3 others

Uncategorized4 days ago

How to Get Lucky Online for St. Patrick’s Day

Blockchain4 days ago

New York’s AG Stays Busy, Two Crypto Platforms Shutdown Others Under Investigation

Blockchain4 days ago

This Ethereum price chart pattern suggests ETH can reach $6.5K in Q4

Blockchain4 days ago

Dogecoin (DOGE) Correction Looks Complete, Shows Signs of Long-Term Upward Movement

Blockchain4 days ago

Blockchain News Roundup: Coinbase is Launching a Marketplace For NFTs

Blockchain4 days ago

How Astra’s Decentralized Compliance Layer Fills a Legal Protection Gap

Blockchain4 days ago

New York joins crackdown on crypto lending, seemingly targeting Nexo and Celsius

Blockchain3 days ago

MEXC Will Launch ARPAUSDT, REEFUSDT, KEEPUSDT & NUUSDT Futures With 6,000 USDT Bonus Giveaway

Blockchain4 days ago

Subsocial: Polkadot-Based Platform for Decentralized Social Networks & Marketplaces

Blockchain4 days ago

Bullish: Number Of Ethereum Addresses Holding 1+ ETH Reaches New All-Time High

Blockchain4 days ago

FLOW Trading And Staking Are Coming for the US and Canada!

Blockchain4 days ago

‘$100,000 Bitcoin Is Possible,’ Says Analyst Adrian Zduńczyk

Blockchain3 days ago

MEXC Exchange Will Launch BITUSDT Futures With 2,000 USDT Bonus Giveaway

Blockchain4 days ago

Local Businesses in New York Urge Governor to Impose Statewide Bitcoin Mining Moratorium

Blockchain4 days ago

Impromptu Telegram AMA

Blockchain3 days ago

Fozeus AMA: An AMA That Is Quite Promising And Interesting!

Blockchain3 days ago

Charity and Community Focused Project ‘TheFloorNFT’ Announces New Artistic Collectibles on Ethereum

Blockchain4 days ago

$5.2 billion worth of Bitcoin (BTC) paid out in ransomware

Blockchain4 days ago

Institutional managers hold a record $72.3B of crypto — CoinShares

Trending