Blockchain technology is being applied to a wide variety of fields including the advertising and medical industries. Businesses who want to efficiently match their client's needs by improving transparency and credibility in their processes are turning to blockchain solutions. In the HR industry, companies are also in search of methods to utilize blockchain technology to connect jobseekers with jobs.
CEO Moon from Scout, an HR specialist company, is in the process of creating ScoutChain -- a blockchain based recruitment platform. He explained that he has been searching for the most rational and efficient recruitment process for the 20 years he has worked in HR. He is building a platform that can help jobseekers quickly find job positions while having complete control of their resumes using blockchain technology.
ScoutChain decided to utilize blockchain technology to forge a new recruitment paradigm for its de-centralized system. In today's centralized recruitment industry, there are major job-portal sites and search firms already active in connecting job positions with jobseekers. These intermediaries control the flow of information (resumes and job postings) online, and they take the profits from this data stream for acting as brokers in the recruitment process.
A de-centralized platform service eliminates these "middle-men" and enables the jobseekers and hiring companies to exchange data directly. ScoutChain allows users to be active in their jobseeking activities with no restrictions and full transparency, while providing a secure environment based on a tokenized economy which activates the platform and helps users to achieve their goals.
Jobseekers can not only receive a fair reward for providing their resume data but can also decide whether or not to release their data to the public. The users are therefore able to reclaim their "data authority", to personally manage and share their data.
Many jobseekers question the security risks involved with uploading their personal information and resumes on traditional recruitment platforms and websites. The CEO explained that the phenomena is on the rise these days as the public awareness of personal information security is increasing, especially among the younger generation.
Efforts to keep personal information safe within the current recruitment environment can lead to a difficulty in getting hired, as jobseekers are reluctant to disclose their information online in fear of being mistreated by their current employer when looking for other jobs. This then hinders their information being matched up with other suitable job openings and opportunities. Recruiters can only judge their candidates based on available information, which in turn can create missed opportunities or slower recruitment processes.
The added credibility of the information being used is another benefit of using a blockchain based system. All ScoutChain users can have their uploaded personal information data certified in one single step. The system can simplify the certification process by requesting certification from all relevant institutions and companies without having to submit or re-apply for certifications every time a job application is made.
CEO Moon added: "Even though the recruitment industry has improved throughout the years, along with the development of the internet, there is still an issue with low data credibility as too much data is being passed through various intermediaries. Our goal is to provide help for jobseekers by providing a solution to overcome the difficulties related to finding a job in the current market by utilizing blockchain technology."