When businesses look for new employees they will often get a slew of candidates vying for whatever job opportunity it is they have made available. Ideally, the firm wants to pick the most qualified of these candidates, i.e., the ones that they deem to be the most suited for the job.
The problem with that is there is no foolproof way of vetting potential employees as it currently stands. Theoretically, the selection process is fairly straightforward but in practice it's nearly impossible to bring on the best available candidates -- simply because of how easy it is for people to lie on their CVs and resumes.
Workchain.io is looking to fix this problem, a problem that seems to plague most industries, and has for a long time. WorkID is the startup’s blockchain-based solution that links people’s work history with an immutable ledger.
The publicly-accessible ledger will be at the disposal of any interested employer looking to verify a potential employee’s credentials and accomplishments. WorkChain.io CEO, Ivan Petrovic, commented on WorkID, saying that it allows for unprecedented certainty when vetting potential employees.
WorkID uses advanced blockchain technology to build the world’s first immutable CV that contains only trusted, verified data. It will revolutionize the future of work, giving employers an unprecedented ability to hire with certainty and employees will gain true ownership of their identities.”
According to the official press release, WorkID uses the verified records the WorkChain creates, which combines work, academic and payment histories in a single, universally-accessible and searchable profile.
It verifies information such as:
Full and part-time employment history
Position(s) held, start and end dates
Individual shifts and contracts
Degrees attained, institutions attended and academic records
Payroll and leave records
In addition to WorkID,
WorkChain also hosts another decentralized app in WorkPAY. Whereas WorkID acts like a decentralized resume for employers to scout, WorkPAY provides real-time payroll processing.
The benefit here is the ability to instantly pay employees or contractors as soon as they’re done with their shift or task. This way neither employee or contractor will have to wait for traditional payroll cycles to be compensated for their work.
While this obviously benefits employees, the decentralized app could also benefit employers as well by automating payroll bookkeeping and the process of actually sending out payments -- thereby reducing overhead costs and improving efficiency.
Workchain.io is a blockchain-based startup located in the Cayman Islands and considers itself the “solution for the future of work.” The WorkChain.io team has spent the past ten years working hands-on in the global workforce management sector and collectively founded seven successful ventures.
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