Skill Shortage: Blockchain Startups Face Issues

Currently, upcoming Blockchain startups are plagued with a shortage of skilled experts. This is because corporate organizations are providing ideal packages for individuals in the talent pool.

This is making smaller firms to rely on skilled freelancers based abroad. In the same vein, a place like India has roughly 1500-2000 Blockchain experts. Meanwhile, the skilled ones amongst them are between 200-400.

According to Akshay Agarwal; a man who operates a Blockchain community, while there roughly 1000 job vacancies, practically 400 can be employed, and this will make the differences in demand and supply to be transparent.

Furthermore, he said creating applications is a simple duty for developers, but the problem is creating it from scratch. While there are plenty of individuals who can actually create smart contracts, the people who can begin from scratch are hard to find.

The founder of the Chainex Blockchain startup, Alay Mehta also had a word to put in. Judging from his words, employing a developer with diverse skillsets is hard to find. The skillsets are;

  • Cryptography
  • Full stack developer to
  • Token programming, etc

He said his company had to begin functioning with freelancers that were majorly from both China and Russia. Skilled freelancers charge a fee of $20-$30 per hour, the starting price for the Indian freelancers is $35-$40 per year.

Still giving his opinion, he made mention that small projects go on for roughly 60-70 hours and some others make use of 140-150 hours.

There is actually a Blockchain based financial technology and wealth management startup situated. This firm is rated among those operating with freelance Blockchain experts.

Solution To The Issue

Universally, experts say that there are roughly 10000 professionals that are skilled in the current Blockchain industry. For now, lots of Blockchain startups have resorted to training their staff by themselves.

The PrimeTrade.ai based on Hyderabad is a good example of companies training their staff. They have been doing this for more than a year presently.

According to the founder, known as Sainath Gupta, a normal developer will take roughly two weeks to learn about Blockchain coding.

Also, Intain which is based in Bengaluru has created a group of forty members via in- house training of their staff for more than a year.

Will Courses Be Another Solution?

Basically, Edtech firms like Edureka, Coursera and Udacity have been noticing traction in courses surrounding Blockchain from some Indian cities.

According to Ishan Gupta; the managing director of Udacity, there has been increased traction from some IT hubs such as;

  • Pune
  • Hyderabad
  • Bengaluru, etc

Moreover, cities such as Jaipur and Indore are trying their best to catch up. The people that are going for the Blockchain courses are a mixture of young talents and mid-senior level staff.

They are all seeking ways to upskill themselves. Some dropouts are included. For IBM, they offered a course on Blockchain and had over twenty-one thousand people. These people registered for the course.

However, just one thousand were actually certified. And, this year, about fifteen thousand are currently taking the course once again.

Conclusion

Generally, the individuals who will finish these courses seek to work for either worldwide corporations r IT majors. They do now want to work with startups. This is common with those who just got their Blockchain skillsets.

Diverse blockchain startups might be operating on worldwide Blockchain projects, but without the ideal talents needed, it is hard for the companies to nail bigger projects.

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