Cryptocurrency and Blockchain Technology: The Future of Digital India

The evolution of technology has changed a lot over the years. In a world where everyone is connected digitally, we witnessed a drastic change in digital currencies and modes of payment. Right from google pay to phone pay, Paytm, and various other forms of digital payments have made our lives easier.

Cryptocurrency has become a global phenomenon over the past few years. However, many concerns and complications are swirling around technology and its capacity to support traditional financial systems around the globe.  

How will Cryptocurrency and Blockchain Technology Contribute to the Future?

Post demonetization by the government in the year 2018, the trading of cryptocurrency was strictly banned due to the strings of fraud reported one after another. However, it was March 2020 when the ban was lifted to get cryptocurrency trading back into the Indian market.

There are ten cryptocurrency exchanges in India, allowing investors to trade cryptocurrency. Proper background verification of the investors will help to widen the adoption of cryptocurrencies for the majority of applications. 

There are many technological challenges in creating a complete ecosystem that embraces the application of cryptocurrencies. However, financial institutions take small steps to include cryptocurrency in their offerings portfolios.

Reputed firms across the country have shown their inclination toward creating a platform to trade cryptocurrencies. In addition, organizations are interested in adopting blockchain technology and cryptocurrencies with the help of governments. Therefore, cryptocurrencies are likely to become more prominent in the coming future.

The creation and maintenance of blockchain technology and cryptocurrency are very high. But as more and more traders and investors emerge in the market, cost-effective technologies are expected to emerge for widespread adoption of cryptocurrencies globally.

Career and Job Prospects in Cryptocurrency and Blockchain Technology

As the country is heading towards digitalization, blockchain technology has a considerable shift. As a result, there are organizations offering job profiles related to this domain, especially in the southern cities of India. Bangalore, the silicon city, is leading ahead in providing job opportunities for budding techies and experienced professionals. 

Apart from this, other cities like Mumbai, Hyderabad, Pune, and Chennai. The companies are looking for skilled professionals in the south, New Delhi, Gurugram, Noida, and various other parts of the country. These places have witnessed an increase in demand for Blockchain jobs.   

The Final Thoughts

With tremendous opportunities in Blockchain technology and cryptocurrency, India could be on the frontier of the next-age digital revolution. We can overcome the obstacles in the initial stage and overcome the challenges faced during the early adoption phase. The use of blockchain technology can strengthen the Indian economy and create new opportunities for the coming generation.   

*image source from Google

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