We believe the internet is in the middle of a revolution: untrusted and centralised proprietary services we believe will be replaced with decentralised and open ones. Trusted parties we believe will be replaced with variable computation. Brittle location addresses we believe will be replaced with resilient content addresses. Monolithic services we believe will be replaced with peer-to-peer algorithmic markets.
The Bitcoin, Ethereum, and other blockchain networks have a proven utility of decentralised transaction ledgers. These public ledgers process sophisticated and smart contract applications and transact crypto-assets worth tens of billions of dollars.
Recently, blockchain interest has surged. A substantial number of people worldwide are involved in mining coins every day and have proven that people are willing to contribute to the applications, providing it gives them a return on the work done.
Blockchain is often used to reward people with cryptocurrency, but our aim is to keep data trusted and as safe as possible. We aim to liberate the recruitment industry from the prevailing chaos and miss representation of facts. According to the latest annual assessment by the Risk Advisory Group, a London-based consultancy that provides pre-employment screening, 70 per cent of some 5,000 CVs surveyed contained some form of inaccuracy — up from 63 per cent in 2015. Source [FT]. At present there is currently no way to find out if a CV is fake without putting in extensive efforts and money to evaluate and assess every candidate that an employer or recruitment agency wants to employ.
The Company is building a recruitment ecosystem designed to assess the skills of candidates using a proprietary scoring system. Our aim is for scores to be calculated using those skills and the weight of their referees who validate those skills. To stimulate the excitement of candidates and to improve candidates’ engagement,’ our “TCOINS” will be rewarded with gamification techniques. The TCOINS are inextricably linked to Talent Coins but they are not the same.
We believe that our platform will be much better than the currently successful blockchain remuneration methodologies. To assure consensus on our platform, candidates will be able to earn a TCOINs by submitting their CV, a list of referees who can validate their skills on their CV and take assessments based on their skills.
As well as earning rewards, we believe that a candidate’s career will benefit by having his/her CV validated and assessed by the Company. Based on the number of TCOINS allocated the user then can covert these TCOINs into Talent Coins and conversely, the candidate can spend their Talent Coins on extra assessments and training on the Company’s platform, in order to achieve a higher TCOIN score which may enable them to beat their competition to secure the best job. This provides a useful service to clients (unlike Bitcoin mining, whose usefulness is, in our opinion, limited to maintaining blockchain consensus).
Employers who are looking for technically assessed and referred candidates would purchase a subscription from our platform, which would help them support their operations and growth. Quality jobs from employers will, in our view, add to the powerful incentive for the candidates and referees to use our platform.
Our network we hope will achieve robustness by replicating and dispersing content, while automatically detecting and penalising points for every incorrect information. The scoring system assures sanity and correctness of this data and produces a self-evaluating network. Our platform cloud storage network also provides security as we aim for its content to be encrypted end-to-end.