Automated hiring software powered by blockchain pairs ideal candidates with the right employers.
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Springwise has followed the rise of blockchain through various innovations, from raising money for charities to online card games. Could blockchain also become a tool for recruiting the ideal candidate? TalentSnap believes so. In fact, it believes its proprietary software could disrupt the entire hiring industry.
TalentSnap has developed FitScore, an AI algorithm that builds candidate and employer profiles. This system uses machine learning to pair the right candidate to the perfect team based on their talents. TalentSnap believes this will reduce discrimination in the hiring process.
FitScore will use natural language processing to mine publicly-available data sets such as LinkedIn and Twitter profiles. Candidate profiles will be matched to job listings and online company profiles. Candidates will then receive a score out of 100 to determine their fitness for the role.
The Ethereum (ETH) blockchain, an alternative to bitcoin, will provide the blockchain backbone. This not only encrypts the process, making it therefore less vulnerable to hacks, it also decentralizes the process. Cryptocurrencies run on a series of nodes, with each transaction having to be verified by other users. A ‘smart contract’ will oversee the hiring process. This is a verified, time-stamped piece of code that will always maintain its integrity. Therefore, TalentSnap argues, blockchain prevents large tech companies from hoarding large personal data sets for profit.
TalentSnap is launching its own crypto-tokens, TalentSnap Coins (TSC) to power the network. TSC are currently available for pre-ICO (Initial Coin Offering) purchase on the TalentSnap website.