In a move to enhance transparency, security and credibility in recruitment processes for HR businesses, South Korean company, ScoutChain has developed a recruitment platform which leverages blockchain technology to connect jobseekers with prospective jobs.
ScoutChain CEO Young Chul Moon created the platform with the vision of offering an ecosystem in which jobseekers are in control of their data.
"Even though the recruitment industry has improved throughout the years, along with the development of the internet, there is still an issue with low data credibility as too much data is being passed through various intermediaries," he said.
"Our goal is to provide help for jobseekers by providing a solution to overcome the difficulties related to finding a job in the current market by utilizing blockchain technology," Young Chul Moon added.
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The service utilizes a de-centralized platform to eliminate the need for a middleman to provide jobseekers and hiring companies to exchange data directly. The credibility of uploading resumes on recruitment sites has been questioned due to the increasing public awareness of data privacy. ScoutChain's platform provides another level of data security.
The company further noted that "ScoutChain allows users to be active in their job seeking activities with no restrictions and full transparency, while providing a secure environment based on a tokenized economy which activates the platform and helps users to achieve their goals".
According to the 2017 Identity Fraud Study by Javelin, a business management consultancy, 15.4 million Americans were victims of identity theft in 2016.