This ICO Thinks Blockchain Can Improve Hiring Practices
What if the process of identifying top talent was easier? And in academia, what if colleges could more easily find the students they’re looking for?
That’s one of the value propositions of Knowledge.io, a startup that is launching an initial coin offering in January. The blockchain-supported platform rewards users for testing high on Knowledge Scores, which measures a person’s expertise in a variety of topics. Users sign up and then answer queries from a large database of questions. Top scorers earn tokens that the founders hope will gain monetary value as the ecosystem grows.
“Textbooks and videos will be ingestible and Q&A Sets will be automatically generated around them for use in education, training, continuing education, assessment, certification, and in other areas of academia,” says Marcia Hales, a co-founder. “And through integration with compliance partners, children will be actively engaged in earning tokens to be applied to college tuition and other life improvement initiatives when they become of age.”
The platform’s application extends to both education and the hiring process.
“Employers will discover and engage with highly skilled candidates based on Knowledge Scores for the purpose of interviewing, hiring, and career advancement in a more organized and efficient way than what exists today,” says Hales. “Everyone will know what their options are for employment at all times.”
The blockchain serves to store immutable records of who people are and what they’re extremely good at. And that’s helpful in a marketplace where too many candidates distort or fictionalize their academic, work and criminal background. There’s no shortcut to getting a top Knowledge Score: You’d have to possess a mastery of your niche.
The Knowledge ecosystem proposes to benefit students and those hoping to make themselves known in a particular field. When there are thousands of competing applicants, it can be difficult to stand out. And it can be discouraging to suspect that your application or resume is simply thrown into the trash without proper consideration.
But those who attain high Knowledge Scores can gain an advantage, because they become identifiable to colleges and recruiters looking for promising candidates.
Here are three cases:
A high school student who excels in algebra can spend time teaching others on the platform and answering questions. Potential college math departments can search the Knowledge.io platform for high-scoring students, and provide that person an incentive (such as tokens) to attend their college.
Someone working in a consulting firm who possesses specialized skills may have more abilities than their role allows for. Answering questions on Knowledge.io could earn that person more recognition, allowing recruiters to locate them for jobs that may be harder to fill. And the employee could gain a pay raise and/or tokens, while companies are able to efficiently allocate personnel to appropriate job roles.
Scholarship boards are often very specialized. Searching on Knowledge.io for expert students in particular topics can help them locate job candidates in a straightforward way. Additionally, recruiters can narrow down the field of potential new hires.
Knoweldge.io will launch their ICO this month.