India’s Role In The Global Web3 Talent Pool

The Next Technological Leap - And India's Role in it

In the early 2000s, India emerged as a global leader in the field of information technology and software services. Now, two decades later there is an impending transformation, another digital revolution in the form of Web3. Web3, much like Web2, has the potential to reshape the way people experience the internet. In contrast to Web2 - which centralised power and data in a few platforms - the underlying principle of Web3 is more decentralised elements through user-centric, transparent ecosystems. As the transition goes from Web2 to Web3, India is, once again, preparing to be a significant participant - and more importantly, a real agent in defining the future of the new internet.

A Demographic Advantage - Re-envisioned for the New Normal

The demographic advantage that India can claim remains one of the biggest benefits of the country. The amount of digitally literate tech-savvy young professionals in India is immense, given that almost 65% of the population is under the age of 35. Hence, these uniquely positioned young professionals are going to have an ever-growing pool of talent and a digitally literate base of professionals that are interested in learning and building their careers. Noticeably, these young professionals not only want to work in traditional software development roles, but are also being guided towards blockchain development roles, smart contract engineer positions, decentralized applications (dApps) design, and the myriad of infrastructure required to create the Web3 ecosystem.

The rise of coding academies, blockchain bootcamps, workshops, and community events springing up in greater numbers, with increased geographic footprint, in cities like Bengaluru, Hyderabad, Pune, and more, including 2nd Tier towns, suggests that these communities are actively seeking ways to learn and create new opportunities for skill development in future technology. These communities will not wait for institutional recognition. They are learning, they are building, they are testing, and they are deploying at phenomenal speeds.

Education, Innovation, and a Changing Syllabus

Educational institutions throughout India are starting to see the benefits of blockchain and decentralized technologies. Engineering schools and colleges and universities with blockchain electives and blockchain research labs are developing innovation hubs at the university level where undergraduates and other researchers can develop and solve practical applied problems in a Web 3 context.

Even more so than formal education, India has a strong online ecosystem that is also providing new learning opportunities. MOOCs, coding platforms, and developer forums are fast becoming a launching pad for young engineers and designers to engage with decentralized systems, engage with a larger decentralized technology ecosystem, and stay ahead in knowing that Web3 technologies will change far more quickly than fit into any educational syllabus.

Policy Winds and Regulatory Nuance

Amidst ongoing discourse on Web3 regulation in India, the conversation has generally focused on a the negative aspects; yet it seems this monologue is shifting from prohibition to contemplation. Regulating authorities appear to be decoupling the speculative nature of crypto assets as an investment option from the technology, establishing a framework in which the potential of blockchain and Web3 developments in areas like governance, financial inclusion, data privacy, and secure data management and storing can breathe.

India's momentum towards a digital economy, including the success of digital payments, public digital infrastructure which has real meaning, data governing, and some engagement with the potential of Web3 is beginning to reflect a global opportunity. The governments' ongoing curiosity-venture towards decentralized registries and blockchain-led transparency projects (though nascent), may reflect the necessary motivations for engaging in the institutional space of Web3.

While we may have regulatory ambiguity, many of India's own Web3 developers and entrepreneurs are seemingly responding with emphasis on a tech-first mentality whilst building skills and products without asset based models. Further, decoupling the technology from regulation seems to be creating a healthier ecosystem for tech talent to develop and thrive, and at least as of today, an ecosystem with an a fortune-telling wind blowing in a favourable direction, albeit alongside some regulatory headwinds.

Remote-First Mindset and Global Collaborations

Web3 talent in India has begun to develop beyond the local market. The pandemic has primarily shifted local perspectives on working and has created opportunities for Indian developers to consider global opportunities. Considering the global and decentralized nature of Web3 means collaboration is not just an option for Indian talent, but is part of the expectation.

Indian talent are increasingly part of global teams building next-generation protocols, interoperability frameworks, and decentralized governance models. The different skill sets, perspectives, and collaboration methods of global teams provide tremendous value to global Web3 organizations because professional value in Web3 is a combination of technical skills, methodological thinking, and entrepreneurial thinking. Greater visibility of the Indian talent pool can showcase both talent and ideas for foundational thinking and architecture, in Web3.

Startups, Builders, and a Cultural Shift

There is a cultural shift in India from service delivery to product innovation, and nowhere is this more evident than in the Web3 space. Our young builders, for one, are not about just completing outsourced development contracts – they want to build!

India has seen an upsurge in builder-first culture, with more and more developer DAOs are launching community-based innovation labs and open source projects.

Most of these creators are building foundational infrastructure such as data storage, decentralized compute, and privacy-frameworks, rather than turn-key applications.

This long-term view is required for valid and sustainable growth in Web3. We have to remember that the early internet was created mostly by dreamers, who were focused on access and architecture, not monetization.

As builder culture continues to mature in India, it won't be enough that we produce lots of developers, we'll need to consider the novelty and depth of builder-first innovations as well as the number of developers!

The Future: India as a Decentralized Superpower

It is not by chance that India is becoming a key player in the global Web3 talent ecosystem. And it is not by chance that the necessary conditions are present: A young population, a large population, a plethora of both formal and informal technology education, a groundswell of enthusiasm to adopt new technology from the grass roots, and a growing cultural understanding that policy can be aligned with innovation.Perhaps the most important of the advantages is mindset.

As Indian developers embrace the decentralization ethos of Web3, they are participating in a new market but are aspirationally re-thinking what identity, trust, governance and innovation can look like in the digital world. More importantly, they are starting to help lead a transformation that can make the internet quicker and smarter, but also, more equitable, engaged and empowering for individuals and communities.