India: Central bank-backed NPCI seeks blockchain expert for Web 3.0 ventures

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The National Payments Corporation of India (NPCI), an initiative of the Reserve Bank of India (RBI), has confirmed that it is on the hunt for a blockchain expert to lead its foray into Web3.

According to a job listing on LinkedIn, the NPCI is searching for a Head of Blockchain with at least six years of experience in implementing blockchain in organizations. The state-backed payment body notes in its listing that its ideal candidate should hold a Bachelor of Engineering with a minimum of 16 years’ experience.

If successful, the new Head of Blockchain will be responsible for identifying new avenues where blockchain can be deployed to improve the state of payments. The listing notes that the role will involve the organization of a proof-of-concept (POC) to ascertain the efficiency and costs of proposed blockchain solutions.

“Undertake design, development, implementation and provided support for a blockchain-based network,” according to the job listing. “Own the entire implementation lifecycle and ensure support to the respective functions, after implementation, up to stabilization of change.”

Candidates with demonstrable experience working on at least two blockchain projects will be given preference over other candidates. The NPCI’s ideal candidate is expected to have a measure of experience in deploying blockchain solutions in a financial services organization.

The senior leadership position is expected to be based out of Mumbai or Hyderabad, but the job listing should have disclosed the proposed compensation.

At press time, over 200 candidates have applied for the role via LinkedIn, with pundits predicting an even larger blockchain hiring spree for the NPCI in the coming months.

The NPCI’s Unified Payment Interface (UPI), an instant payment system facilitating person-to-merchant (P2M) and peer-to-peer (P2P) transactions, is expected to play a more significant role in India’s attempt to launch a digital rupee.

Early in the week, YES Bank announced an integration between UPI and its digital rupee mobile app in a move designed to ensure seamless interoperability between both systems. With the RBI leaning on blockchain for its central bank digital currency (CBDC), the NPCI’s attempt to beef up its ranks with a blockchain expert has been hailed as a right move in the right direction.

Blockchain extends its sphere of influence in India

Since Finance Minister Nirmala Sitharaman announced plans to increase blockchain adoption by 46%, India’s local blockchain space has recorded a flurry of activities. A state-backed think tank rolled out a blockchain learning module for interested residents to deepen the local talent pool. At the same time, several agencies have turned to innovative technology to improve their operations.

Blockchain has seen action in forensics, real estate, logistics, health, and education sectors, but finance applications still need improvement. The NPCI’s latest drive could open the floodgates for financial entities to explore new use cases of blockchain in the payments sector.

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