Recruiting today has changed a lot since mid-century economic expansion. In the modern recruiting market, the process is characterized by bureaucracy, centralized HR departments and recruiting agencies, which often specialize in a particular segment in the labour market. This kind of development is caused by a rapid change in productive industries and fragmented availability of skilled labour.
Taking on the recruiting market in this respect is not only necessary, it is vital for the survival and growth of service-based industries. If data concerning the applicants were openly available, and if the applicant themselves could control their own data, the job market could become a lot more flexible. This is where TalentSnap comes in.
TalentSnap is a blockchain -based independent recruiting platform that establishes a conduit between the applicants and the recruiting employers through a blockchain -based candidate platform, an open data layer for skills assessment and an AI that matches the candidates with the needs of the recruiting employer.
Assessing the candidates on blockchain is fundamentally different from a human interview. The candidate has updated their verified documentation and skillset into the backend, and the documentation is timestamped and authenticated against forgery. The data is stored and shared in an encrypted format, and only the applicant themselves is in possession of the keys needed to open or make changes to the information contained within the applicant's profile.
Open data is vital, but having access to it often means having to deal with fragmented sources. A blokchain -based application such as TalentSnap may aggregate data from various sources, and thus provide a more comprehensive picture of the applicant's background and relevant skills. TalentSnap uses zero knowledge proofs to relay the data for relevant parties, further protecting the user's privacy.
IPFS is a backend solution specifically developed for the needs of the burgeoning blockchain application industry. The format provides a flexible, decentralized way to store encrypted data across a subscription network. This is in contrast to data silos commonly used in corporations today. The main advantage of the IPFS is in the architecture. In a decentralized data storage solution connected to a blockchain application for accessing it, the user is the only one who is able to access their own data. Anyone else would need to crack the encryption to make the data readable.
Artificial intelligence is a buzzword in the industry, but properly used, it may rapidly increase productivity. In TalentSnap, the AI compares the candidates based on their background and skills with the relevant, available jobs and needs set by the prospecting employers. This is reflected in a special score called the FitScore.
Interface with the blockchain application will be provided through a simple wallet application, with the applicant's profile and an employer profile and applicant search in their specific sides. There's already an MVP available, if you want to take a look.
Employer Dashboard http://dashboard.talentsnap.co
Chrome Extension https://chrome.google.com/webstore/detail/talentsnap/jphimbbjohdioeleikbgmlndedejojel/related
The native token of the TalentSnap platform, TSC, is an ERC-20 utility token that is built to be fungible as a private currency circulating within the platform between its users. The hiring party buys the currency, and accesses the candidates, while the candidates earn the currency for making themselves available. The candidate earns TSC every time the employer checks their FitScore and other relevant metrics listed on the platform. There's talk of a "seeding mode", but that'll be revealed later. Basically an applicant could run a light node? There's also a mention of a secondary skills -marketplace, which would allow the candidates to purchase access to courses and certifications through the platform.
My thoughts
I think the project is ambitious. It does solve the main challenge in the current Western-Industrialized labour market, especially in service-oriented industries, by decentralizing the hiring process, and it does give the applicants more control over their own data than the legacy method of hiring currently allows.
The main challenge is probably associated with heterogenic regulations and labour law in different countries, as well as in general fragmentation of the labour market. In my opinion the simpler the product will be after launch, and the more processes they may outsource to third-party service providers the better their chances of becoming a success story.
Employing an AI is a genious move.
All in all, I think that TalentSnap has a bright future ahead of itself.
Website: https://talentsnap.co/
Whitepaper: https://talentsnap.co/whitepaper.pdf
My Bounty0x username is starwalkerz