Hiring trends disclose that software developers, entrepreneurs and startups in India will play an important role in developing global platforms and applications for Web3, the third generation of the internet.
Web3 utilizes blockchain-based technologies to develop a decentralized version of the web. Firms creating Web3 platforms and applications will need blockchain developers, app developers, machine learning specialists, back and front-end developers, user experience (UX) and user interface(UI) designers, content writers and data analytics professionals.
According to reports, the cryptotech industry, for example, already employs 50,000 people in India and has registered a growth of 39% in the previous 5 years. India has already 230 cryptotech startups. Web3 will create more job opportunities and will boost the economy. India is ranked distinctively to take advantages from Web3 as it has a huge pool of developers, startups and one of the biggest internet consumers markets in the world.
To be sure, India’s IT service companies, which have created billion-dollar businesses by fostering global internet infrastructure, are also beginning to take note. Tech Mahindra and Infosys declared their entry into the metaverse world in February with new business arms that will concentrate on this element of Web3.