Can The Blockchain Fix The Recruiting Industry? 4 1155

Anyone that works in business is aware of the unspoken layer of recruiting that is pervasive in every organization. Either recruiters are actively trying to place someone at an organization, or they’re actively trying to poach someone from a competitor. But recruiters seem to be a consistent participant in the hiring process for most companies.

But were you also aware that one of the biggest issues facing recruiters isn’t the sourcing of candidates, but rather their big headaches come from vetting and qualifying candidates for positions.

One big requirement for most companies is that their candidates provided by recruiters are able to check all of the requirements for the position and that their credentials are legitimate. Which can cause recruiters to have to become forensic detectives in ensuring that work history and education backgrounds are legitimate. Or, what usually is the case, they just take the resume at face value and place their stamp of approval on the candidate and move on. Which is not ideal.

This fast tracking of critical steps has led to many pie-in-the-face moments from companies who later discovered that their executives didn’t graduate with the degrees they claimed, or in some cases never graduated college at all. But when something is on your resume for a few decades and everyone else just assumes it’s correct, it’s easy to see how these situations can occur.

So, aside from quicky background checks or calls into college administration offices, what can HR and the recruiting industry do to streamline this process and avoid embarrassing situations in the future?

Blockchain Tech To The Rescue

You have probably heard about blockchain technology in the past few years. Its most famous use case comes in the form of Bitcoin and cryptocurrencies, but it’s also a technology that can do almost anything and makes systems infinitely more secure and efficient than our current platforms. It does this through smart contracts and distributed ledgers that make the system quick and almost unhackable.

And since you can store almost anything on the blockchain, one company is using it to fix the recruiting industry by ensuring that any information an employer or recruiter would need to know is available quickly and has been vetted by the proper sources. This group is called EchoLink and they’re looking to take on industry veterans like LinkedIn and Hoovers.

“It’s all but impossible to check the credentials of every user in a traditional web based application.” says Steve Chen, the Founder of EchoLink. “It is well understood that educational background and work history found on online sites are not verified. Most recruiters and employers spend time and resources on additional background checking processes.”

And Steve and his group think that the blockchain can change all of this by vetting work histories and school records on EchoLink and providing recruiters and HR professionals a real snapshot and background on their candidates with just a few clicks.

And while this may seem like a niche industry to target with the blockchain, the flexibility of the tech allows it to be customized for pretty much any use case you can think of. So why not go after a niche industry that is in desperate need of disruption?

EchoLink is launching their platform (which is already functional and in beta testing) with their TGE, or token generation event, later this month. And you can find out more information regarding that here.

This article was originally published on The Huffington Post on November 15, 2017.

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Starting her career on Wall Street at just 19 years old, Danielle went on to be one of the youngest equity traders in the industry. After a successful career in Financial Planning, she went on to found her media company What Vibes Your Tribe, which connects the worlds of digital marketing and public relations. Her experience in brand strategy along with successfully developing the thought leadership of C -level executives has played an integral part in her client's achieving prestigious awards such as Inc 500, Forbes Next Billion Dollar Startup, Entrepreneur 360 among other top level recognition.

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The Bitcoin Bull Run: How It Started, How It’s Going Comments Off on The Bitcoin Bull Run: How It Started, How It’s Going 995

Wherever you stand on Bitcoin, there is no question about its impact on the role of blockchain and cryptocurrency within society.  Whether we look back to Pizza Day or to its heights in 2018, the volatile nature of the cryptocurrency has garnered much speculation and media coverage. 

While many looked at the past few years as a “Crypto Winter,” others saw an opportunity for Bitcoin.  Between COVID lockdowns, political, and fiat currency concerns, Bitcoin has been on a dream run – for a moment going over the $55,000 barrier.

Why Did Bitcoin Suddenly Explode (Again)?

Elon Musk and other influencers played a role in the recent rise in Bitcoin’s price. Tesla’s recent investment in an infrastructure to accept Bitcoin payments, and Apple Pay’s introduction of BitPay, a prepaid bitcoin MasterCard, are also major markers of market adoption. But two other events occurred that set the stage for the Bitcoin bull run: a pandemic and Bitcoin Halving.

Every four years, Bitcoin miners have their processing transactions cut in half. This reduction in supply then drives up prices based on scarcity. This occured in May 2020, when the economy was already at a standstill due to the pandemic. Since the supply of crypto coins is finite many think that there is lower inflation risk with using them – this means that it may be used as a hedge against U.S. inflation. In 2020, more than 20% of all dollars currently in circulation were printed, making crypto even more alluring. 

Crypto isn’t going anywhere. This year, experts project increased use of crypto cards, emergence of new cases, and increased investing from traditional finance leaders.

Take a look at this visual deep dive on the rise of Bitcoin for more information:

Bitcoin: Once A Diamond In The Rough, Now A Treasure

This New Blockchain Phone Has a Built In Cold Wallet 3 3103

The blockchain phone you didn’t know you needed has arrived. As phones have transformed into mobile devices they’ve absorbed tasks previously delegated to desktop computers, cameras, globes, flashlights, alarm clocks, and your Sony Walkman. Now you can add crypto wallets to the mix.

Digital Trends gave us the scoop on the Finney, the new phone by London-based mobile security specialists Sirin Labs. It includes a cold storage (fancy term for ‘offline’) wallet, a built-in token conversion service for smooth transactions, and a DApp center. They designed the phone to be the premier mobile “for crypto experts and novices alike,” according to their website.

It’s timely, as crypto is still trying to break through the membrane into mainstream adoption, and mobile could be the vehicle to make it happen. The Finney itself, though, may not make the crossover.

First, Some Tech Specs

Finney’s standout feature is a second screen hidden behind the top edge of the phone. The screen is actually a separate set of hardware altogether—the cold wallet itself. When it’s tucked into place, it’s disconnected and unhackable. Only when you slide the screen open does it go live so you can execute a transaction.

The phone’s software, SirinOS, is Android 8.1 modified for security and certified by Google. It runs on a Qualcomm Snapdragon 845 processor, with 128 gigs of storage and 6 gigs of RAM. It has a body of metal and Gorilla Glass, a 12 megapixel camera on the back, along with a fingerprint sensor. The Finney also features an Intrusion Prevention System (IPS) for an added layer of security.

Having the wallet placed at the top means the camera and fingerprint scanner are lower on the phone’s body than on previous models. See for example Sirin’s first phone, the Solarin, a security-obsessed $14,000 non-blockchain luxury mobile, which came complete with Italian leather backing and had a camera and fingerprint scanner where you’d expect them. On the Finney, the fingerprint scanner is too far down for effortless use. It invites slip ups where you press the camera lens instead.

The Finney is Nice, But It Will Take More to Mainstreamize Crypto

“It makes sending, receiving and converting cryptocurrencies securely on a smartphone surprisingly easy,” says one Digital Trends review of the Finney. But they qualify that ‘easy’ is relative, and the Finney is actually more of “a niche device for those who really are invested in cryptocurrency.”

Senior Writer Andy Boxall was less impressed. “The problem is its main feature,” that is, the cold wallet, “is only compelling to those who use, understand, and believe in cryptocurrency and the Blockchain.” For those who don’t already understand the ins and outs of crypto, it won’t be much of an advantage.

“Do not expect the Finney phone to make this baffling world [of crypto] much less confusing and problematic,” says Boxall. He describes the setup process as requiring trust in a bunch of companies you’ve never heard of, as well as the navigation of unfamiliar technologies and products. And for all the effort, he says, there’s little benefit for the crypto newcomer or ordinary mobile user.

“I carried on with the process because it’s my job,” says Boxall, “but if it wasn’t, I may have given up a lot sooner.” While the Finney hits many of the marks it aims for as far as design and functionality, simplifying the crypto process for novices doesn’t seem to be coming together with this phone.

“Living with the Finney has made it very clear that cryptocurrency is not ready for mainstream use yet,” says Boxall.

Get Your Finney If You Can

Sirin first released the Finney for sale only in exchange for their native SRN token. It went on the mainstream market in January so you can now purchase it with Paypal or, if you’re Gordon Gekko, a credit card. One final and important caveat: the company ships from their UK headquarters to 143 countries, but alas, the US isn’t one of them.

If you’re looking for a way to store your crypto securely and portably, make smooth crypto transactions on the go, or inspire jealousy in your American blockchain friends, the Finney may well be worth its $1,000 price tag. If you’re a newbie who’s interested in learning the ins and outs of crypto, there are better places to start.

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