Job.com has announced it is launching a blockchain powered recruitment service (and ICO) on the GoChain network. Job.com is an established recruitment platform with twenty years of experience and a user base of 60M+.
With the GoChain blockchain implementation it believes it can disrupt and decentralise the recruitment industry by removing the need for recruiters during the hiring process.
Discussing the budding partnership, Job.com Co-Founders Paul Sloyan and Arran Stewart said: “Collaborating with GoChain allows Job.com to fulfill its vision of globally scaling a community-led recruitment solution. With its ability to process transactions at high speed, 1,000 times greener operations, and expertise with smart contracts which facilitate our reward program for job seekers, it was an easy decision to make.”
job.com + GoChain
Job.com’s crypto market advisory firm, Strategic Coin, and multi-disciplinary blockchain consultancy ChainVisory, opened up the collaboration between Job.com and GoChain. The objective is to implement the Job.com’s recruitment vision.
GoChain uses PoR (proof of reputation) as a consensus model that takes the reputation of participants into account in order to further enhance network security. This will enable Job.com to optimize security and privacy for resumes, references, and all other sensitive personal data.
With its Ethereum compatible platform, which claims 100 times faster transaction speeds and 10 times greater decentralization than the Ethereum network, GoChain says it uses a fraction of the power required for either Bitcoin and Ethereum use. This makes it a suitable platform for a decentralized hiring ecosystem.
“Blockchain platforms and smart contracts are continuously evolving, so we wanted to make sure that Job.com partnered with a network pushing the latest advancements in blockchain technology. To that end, GoChain was the obvious choice,” said ChainVisory founder and CEO Dr. Majid Almansouri.
GoChain is a scalable, high performance, low cost, and decentralized combination of cryptocurrency and blockchain. It supports smart contracts and distributed applications and includes:
- a public cryptocurrency
- the ability to build decentralized applications and smart contracts
- is compatible with existing Ethereum wallets, smart contracts and other tools
- processes transactions and contract execution faster than Ethereum.
- promises it will add a next generation decentralized app platform going beyond Ethereum smart contracts in late 2018.
Its core team comprises software engineers, tech founders and business leaders who have spent their careers building high scale, distributed cloud systems. These have embraced high performance messaging, data storage and compute services for cloud infrastructure. This experience would seem to fit an inherently distributed system like a public blockchain.
The Job.com rationale
Job.com aims to execute its ICO on the GoChain network beginning in August 2018. It anticipates a public launch of the platform for the following month.
Job.com will use its coin offering, Job Tokens, to encourage users to handle their own recruitment by rewarding users for each step of the job seeking process. Performing tasks – such as scheduling interviews, and in the future, recommending friends to the platform – will see users rewarded via Job Tokens. Users will also receive a percentage of their agreed upon salary in Job Tokens upon agreeing a new job through the platform. This will also open up the ability to:
- grow a community of experts
- expand service offerings based on the scalability of GoChain
- ensure hirers receive low-cost and efficient transactions.
Users will be able to share information securely. This, Job.com believes, will eliminate the need for recruitment agencies and other middlemen – reducing costs for both hirers and candidates money. Using Job.com:
- enterprises will save on the fees they would have paid recruitment agencies
- new employees receive 83% of Job.com’s fee as a signing bonus (equal to 5% of the agreed-upon annual salary).
By combining a refined applicant search program – one which tries to find the best candidates for positions with secure, transparent, and efficient blockchain technology – Job.com hopes to change the way people think about hiring.
“Job.com is a real business with a rockstar executive and advisory team bringing decades of experience and an impressive existing user base,” said GoChain CEO Jason Dekker, “They’re revolutionizing the recruitment space by leveraging blockchain to provide attractive incentives to both candidates and employers. We couldn’t be happier to introduce another promising project onto our enterprise-grade network, and we look forward to working closely with Paul and Arran to provide as much insight as we can to help propel the project to mass adoption.”
Enterprise Times: what does this mean
Another claim for disruption using blockchain. In this instance the Job.com and GoChain combination believe they will disrupt the recruitment sector, because of the use of a blockchain network. At least Job.com has the basic pedigree in the recruitment industry.
Whether the middleman elimination will occur is open to question: there are so many multiple vested interests. Yet the ICO dimension, payable to the recruited, might offer a differentiator which attracts both enterprises and their hiring targets.