India’s cryptocurrency entrepreneurs and coders were reportedly a brain drain risk not too long ago after the government signaled a ban on cryptocurrencies. Just months later, they are a rare species in high demand.

As companies such as US-based Coinbase, the world’s largest crypto exchange, establish development centers in India, there’s a scramble for coders with at least some expertise in these technologies. International blockchain platforms such as Tezos and Cosmos have been present in India for some time now.

Those who make the cut are pampered. Some are even paid a part of their higher-than-industry-average salaries in cryptocurrencies or tokens, particularly freelancers taking up international gigs in this highly decentralized sector. 

This when companies are also having to invest heavily on training to compensate for the lack of formal learning avenues for these technologies in the country. Even so, they are willing to deploy large budgets here as they see India, not unknown for its tech prowess, as an emerging hub for crypto and blockchain development.