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PWC in its 'Time for Trust' 2020 report predicted that India's blockchain market will witness great traction and will touch an estimated $62.2 billion by 2030. In the same report, PWC identified potential areas in the blockchain that went on to generate great economic value and these are:
• Product tracking and tracing
• Financial services and payment
• Identity security and credentials
• Contract and dispute resolution
• Customer engagement and reward programmes
Additionally, public administration, healthcare and education will garner tremendous benefit from the blockchain technology. Interestingly, the state government of four states namely Karnataka, Telangana, Tamil Nadu and Maharashtra have actively engaged in building 'global-standard e-Governance projects' leveraging blockchain and Big Data. Example-Maharashtra government has launched four e-governance projects in the domain of health, transport, agriculture and finance, all powered by blockchain technology. So, from this example, one can safely conclude that Indian blockchain landscape is expanding and holding tremendous promise for the budding professionals.
Career Prospects in Blockchain Domain in India
A large percentage of professionals are eyeing blockchain technology as the technology shaping up future business transactions. Therefore, the basis of the demand for understanding the technology and how it works, a plethora of certification courses have been launched by deemed institutions. One of the most prominent of these courses is the Certificate Programme in Applied Blockchain offered by IIM Indore in collaboration with Hughes Education. The uniqueness of this programme lies in its balanced approach towards both the managerial and technical aspect of blockchain technology. The programme curriculum includes an in-depth understanding of Cryptocurrency Network, Ethereum, and platforms. Apart from the fundamentals, the course also covers the Regulatory & Policy Considerations, Privacy & Risks along with functional knowledge of the technology in finance, public administration and operations.
Now, let'slook at the career options available to an individual after the successful completion of a certification program in the blockchain. Before we delve into the career options, it is important to note that there are four major players in the blockchain ecosystem namely- the government, the tech firms, the start-ups, and various industry verticals such as banks, insurance, retail, and oil & gas. So as a blockchain professional, one can find choose amongst the below-mentioned career options.
• Blockchain Solution Architect- This role demands a complete understanding of the technology and proficiency in cryptography. Furthermore, this role demands a thorough understanding of the standards and ecosystem of blockchain. This is because a blockchain architect works with R&D teams to incorporate blockchain technology in various cross-asset frameworks.
• Blockchain Project Manager-This role demands a thorough grasp of the blockchain development life cycle. Typically, this role demands considerable experience in defining the objectives, roadmaps and deliverables based on the understanding of this technology.
• Blockchain Legal Consultant- This role demands expertise in handling legalities revolving around a new technology, something that is relatively new and can have adverse impacts if not implemented in tandem with the laws of the country. There is a lot of legalities involved in the adoption of blockchain at the enterprise level. Therefore, blockchain legal consultants must be experts when it comes to investment, capital markets, data protection and anti-money laundering laws.
• Blockchain UX Designer-This role entails the creation of a platform interface that speaks of the underlying principle of the blockchain ecosystem- TRUST! The UX design in the blockchain is a very challenging domain and therefore, a UX designer needs to be intuitively creative with a great deal of experience in crafting designs standing out for their outstanding user experience.
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