Forbes: Blockchain build-up could radically change the recruiting industry

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Author: Bernard Marr translation: Ina

Another transformative new application of blockchain technology can have a broad impact on how employers assess candidates and recruit employees.

Blockchain is basically a way to record information on a distributed cryptographic ledger-eliminating the trust or middleman of a third party in many applications. Today, it is called the breakthrough technology behind virtual currency Bitcoin. But it actually has an impact on any industry that wants to record, store, and track transactions.

This week, APPII launched the "World's first blockchain career verification platform" – using blockchain to build a "go-to-trust" system that allows employers to understand the authenticity of the information the candidate is facing.

APPII general manager Gary McKay, who first met the blockchain in the financial services industry, quickly concluded that the technology was far more influential than his own.

McKay says:

"I think this can be used for any brokerage industry that needs trust to exchange value, so real estate or recruiting is possible. In the case of recruitment, this is a candidate exchange between the candidate's discovery and the employer. ”

The APPII platform allows candidates to create "smart profiles"-the details of professional achievements or educational certifications recorded on a distributed ledger, which can be verified and saved permanently.

The platform then allows organizations such as businesses or educational institutions to verify the "statements" in the candidate's application documents. Once the statement has been confirmed, it can be recorded on the candidate's file and will not need to be checked again in the future.

It also uses facial recognition techniques to verify the identity of candidates, ask them to take pictures using a mobile app, and compare them to photos on official IDs such as passports.

McKay says:

"In high-risk industries, employers must conduct due diligence, and if you want to give your money to someone in the financial services industry, you certainly don't want this person to get the job through a fake resume." The same goes for a doctor or nurse. ”

In the public sector and in the financial services industry, it usually takes 4-6 to eight weeks to review identity and resume information, so simplifying this process can be a significant benefit. The system also has a clear purpose in today's increasingly globalized job market. Now, candidates can search for jobs in other places online through information given by others. This also saves costs in areas such as it, as some professionals sign three to four new contracts each year.

Currently, Technojobs users can use this system to meet candidates looking for it and technical work.

McKay stressed that the platform would benefit not only employers, but also candidates-ensuring that employers rated them based on their merits rather than on their CV style or template. This, of course, provides a level playing field for one-third of honest people, exposing another two-thirds of people who exaggerate or make a fictitious fact.

McKay says:

"This makes it more likely that candidates will be hired because they can use blockchain to verify their career history and gain people's trust." This approach benefits employers by reducing the time and cost of finding talent. ”

Technojobs director Anthony Sherick said:

"From an employer's point of view, they often need to devote a lot of time to hiring a person and may fail--which can be a waste of time because they usually check the certificate at the end of the hiring process." This new approach can save a lot of time and money, and they feel reassured about the authenticity and quality of the information. ”

The company plans to improve its services next year, including rewarding the employers and candidates involved. They will send tokens to the organization of the verification statement and candidates who submit their resumes for verification. According to the plan, these tokens will be used to redeem courses and education.

It is naturally exciting to see the blockchain being applied in this innovative way and realizing what we couldn't do before. The concept of distributed cryptographic ledgers has a significant impact on the financial sector-many people think it can replace many of the bank's traditional functions. But beyond that, I believe it can be used effectively and innovatively in any function that involves recording, validating, and tracking data.

Bitcoin may be the first popular application after the blockchain concept, but its role is not limited to this.

This article only represents the personal opinion, does not represent the block chain pencil position, does not constitute the investment proposal, the content is only for the reference.

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