More Than 80% Of Indian Blockchain Developers May Move Out Due To Lack Of Regulations According To A Survey

80% of Indian Blockchain Developers will be no other option but to move out of the country to work on foreign projects if the government does not provide a clear regulatory framework, according to a survey conducted by Incrypt.

The survey included more than a 100 Indian developers over a period of 6 six months, conducted by Incrypt, a Blockchain community leader based out of Bengaluru.

According to the survey, the delay in the release of a regulatory framework by the Indian authorities is causing a loss of Jobs, drag in capital infusion and is hindering innovation for a lot of Blockchain Entrepreneurs.

The RBI had issued a notice 3 months back restricting banks from operating with any Crypto related services which went into effect from April 6th after which all the major exchanges have stopped deposits and withdrawals in Fiat.

Nitin Gupta, founder of Incrypt said:

“Blockchain projects are creating new job categories, leading to hiring more fullstack, front-end and back-end engineers globally, At a time when IT services industry is losing jobs, India needs to move fast in putting in place appropriate regulations to manage risks and attract global investment in blockchain. “

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