Asian startup Curriculum Vitae Chain plans to launch a Blockchain-powered system, which will allow the applicants share revenues from their CVs. Any recruiters who are interested in the applicants’ CVs, have to ask for the permission of the owners and pay them CVH, a token in Curriculum Vitae Chain, based on ERC20.
Recruitment industry has been prosperous since the enthusiasm for entrepreneurship and urbanization have accelerated rapidly. The development of the internet and recruitment business promote each other continually. Online recruitment stated from 2000, and it was on rapid development in 2010. The market size of China’s recruitment is about 2.82 billion yuan, an increase of 23.7% compared with 2012. Due to the large number of applicants, the growth rate gradually slowed down and it is estimated that the market size of China’s recruitment will be 8.7billion yuan and the applicants will be over 160 million in 2018.
But for years, since online recruitment has been prosperous, it has been plagued by various disadvantages
By using blockchain technology, Curriculum Vitae Chain ensures that the verification activity only happens once and is stored securely and permanently for any recruiters that wishes to view it as long as they pay CVH to the applicants before they ask the permission of the applicants. The technology also eradicates double handling and processing by multiple verification providers. Blockchain is a magnificent change agent for recruitment industry, a broker-based industry. Blockchain can be put to great use in the recruiting sector because, after all, it is a broker industry. Now, Curriculum Vitae Chain, the leading blockchain based application, can assist in expediting the recruiting process undertaken by intermediaries unlocking valuable fund and time to be put to better use by employers in growing their business.
It currently takes about 70 days to hire talent, with significant time spent verifying candidate credentials. Curriculum Vitae Chain members will already have their credentials verified, eradicating the need for organizations to spend time doing that. The CVs of Curriculum Vitae Chain members will be pre-verified, relieving organizations from the burden of undertaking verification themselves, or paying 3rd party verification partners to undertake verification on their behalf.
Over 30 days of the hiring process is spent verifying candidates, their experience, educations and skills, and a lot of money is spent prior to hiring in lost productivity or direct expenses. Curriculum Vitae Chain would like to help organizations significantly diminish the costs and efforts associated with the process.
According to the estimation of HR expert, Curriculum Vitae Chain will bring innovation and energy to traditional online recruitment. And according to a survey, the users of Curriculum Vitae Chain will be over 30million in 2018 and Curriculum Vitae Chain will be the bellwether in recruiting sector based on blockchain and lead the development of blockchain.
The whole team of Curriculum Vitae Chain believe that finding a dream job with your dream employer should be fast and easy. Equally, finding top talent should be quick and inexpensive. However, it is challenging, time-consuming, and costly finding top talent, and the recruitment process is often frustrating for both candidates and recruiters. And what’s more, having the credentials of an individual’s CV verified by educators or accreditors and former employers is of enormous benefit. Also, providing unbounded access to candidates or open roles reduces the time to find talent and employers, significantly reducing hiring costs, and increasing productivity. We will build an ecosystem based on Curriculum Vitae Chain, covering all fields, skill training courses for example, in recruiting sector.