Commercial and financial organization EMURGO, owned by Switzerland based Cardano (ADA) has revealed its expansion plans in India, by opening a blockchain academy. It will be known as the EMURGO Academy, an institution of learning which will train developers and create blockchain experts.
The ultimate aim of this academy would be to increase the adoption of blockchain technology in the world’s fastest growing economy. The academy is said to be in line with EMURGO’s philosophy, and goal of expanding the Cardano ecosystem in India, and support of Indian government officials and enterprises is expected.
Shortage of Blockchain Developers Globally
The biggest drawback with emerging innovative technologies is that there is always a shortage of industry experts in the initial years, and blockchain is no exception. Especially, in markets like India, where blockchain hasn’t taken off like elsewhere, lack of developers is more than apparent.
Blockchain has become famous in the last few years, mostly due to the advent of cryptocurrencies like Bitcoin, Ethereum, etc., which used the platform to create what went on to become a revolution. The growing popularity has compelled giant organizations like IBM and JPMorgan to take steps to build on and capitalize on the blockchain platform.
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These major companies are now coming up with their own research teams, which have made significant discoveries of potential in blockchain for commercial use. EMURGO realizes this shortage of experts in the market and aims to supply talented developers with required skillsets to the crypto space through its academy.
Why India?
Choosing India as the base for its academy is a strategic decision by EMURGO. The South Asian nation has emerged as a technology hub in the last few decades, especially after the industrialization in the 90s. The country has produced some of the best professionals in the fields of IT, engineering, finance, and medicine.
The IT industry in India alone is worth over $160 billion and is projected to surpass the $350 billion mark till the end of 2025. The industry has been growing rapidly, and those coupled with talented professionals will only make the country the most preferred IT destination for technology-based companies.
Such market potential and vast availability of talent make India apt for EMURGO’s to realize its goals. Manmeet Sing, Chief Investment Officer at EMURGO, claimed that talented individuals through the academy will further the expansion and use of blockchain technology.
Singh further added that EMURGO believes that the future of several leading industries will be heavily impacted by different forms of blockchain technology, which in turn will obviously create demand for professionals with training and expertise on the blockchain. He said that without sufficient skilled talent, it’s impossible for any technology to gain global acceptance.
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Academic fraternity in India has welcomed the move with open arms. Hon’ble Vice Chancellor of the Bangalore University, Dr. KR Venugopal elaborated on how this initiative will create new job opportunities for youth. He stated that the academy will provide a platform to connect developers and organizations, enabling them to learn the booming technology and implement them in their respective verticals. This shall open newer jobs for aspirants of blockchain technology in the country, Dr. Venugopal added.
