Those that have ever gone through a hiring process, know that it can be a long-winded affair that can sometimes last weeks. Many companies have multi-stage hiring processes that require documents from various sources for each applicant. These documents need to be vetted to ensure their authenticity. These actions take time, and as everyone knows, time equals money.
At an estimated $2billion a year, the recruitment industry presents a large opportunity. Currently reliant on traditional methods, the industry is due for an influx of modern technology to raise efficiency, profits, and simplicity. The team at CVerification recognizes this, and plans to develop a platform utilizing blockchain technology. By using this technology, CVerification will be able to create a service that is beneficial to not only employees, but employers as well.
From the documentation issuer, to the employee, to the employer requires six simple steps.
1. Applicant registers with CVerification
2. Applicant earns documentation (diploma, previous employer reference, certificate, etc.)
3. Applicant Authorizes issuing body to upload documentation to platform
4. Issuing body (school/previous employer) uploads documentation for authentication
5. Applicant grants access to profile to potential employer
6. Potential employer downloads requested documentation
By utilizing blockchain, CVerification is able to record the determined authenticity of documentation on an immutable ledger. This ledger can be accessed at any time, as many times as needed, in real-time. This combination of blockchain and verification services will expedite the hiring process for employers to a great extent. For companies hiring multiple people from large applicant pools, any time saved is money saved.
In the future, CVerification will be taking their platform a step further and bringing more features. Eventually applicants will be able to utilize the platform as a generic job application. This application will be overseen by a recruitment consultant that will analyze applicant’s qualifications, and funnel users towards appropriate employers. Again saving time for not only the applicant, but the employers as well.
Being built on the Ethereum blockchain, CVerification has the ability to tokenize their platform. Their native token (CVER) will be used as a form of payment for services rendered. This token is built to act as a utility token. As the platform gains traction and usage increases, so will the value of their services – and in turn the CVER tokens. To incentivize continued use of the platform, those that pay for services will receive vouchers in return towards future use of CVerification.
Streamlining current processes to save time is basically like finding money. There is no investment needed other than participation in the platform. Although their goals may be lofty, the team behind CVerification appears to be up to the task. They have a busy roadmap ahead, and plan on having a full product launch mid-2019.
To get an in-depth understanding of all the services and features that CVerification plans on offering, make sure to peruse their whitepaper HERE.
Full ICO details can be found below.