How Blockchain Can Help The Recruitment And Social Selling Industries

CEO at beBee, the collaborative platform for professionals. Expert in software engineering. Blockchain enthusiast.

There’s no question that we are in the midst of a technological revolution. Everyone is probably familiar with all of the big technological trends that are going on, but I believe the technology likely to disrupt the world the most over the next 20 years is not big data, the internet of things, cloud computing or machine learning. Instead, I see blockchain, the technology behind cryptocurrencies, coming to the forefront.

We need help establishing trust. We need help verifying the identity of parties in a transaction. We need help with the clearing and the settling of those transactions. And we need help with the record keeping. What we turn to for all of those important functions of e-commerce are basically intermediaries. These intermediaries take different shapes and forms. People are obviously familiar with banks. But as a result of the digital revolution, we’re also seeing tech conglomerates act as arbiters in online transactions.

Generally speaking, these intermediaries do a pretty good job, but they have certain limitations:

• Many of them are very centralized. Anything that’s centralized by definition is vulnerable to hacking or to failure. We

• The recruiting and social selling platforms charge significant fees to businesses trying to find buyers or candidates. Professionals do not receive any compensation for that.

Shifting From The Internet Of Information To The Internet Of Value

As a result of this issue of establishing trust and identity online, intermediaries still capture the majority of the value of commerce. So what if there was a form of technology that allowed people to run a ledger basically like a spreadsheet that everyone could see and that didn’t run on a single system but ran on every single computer around the world and wasn’t only open to a few but to everybody? What if this technology gave way to platforms where not just information but literally anything of value could be moved and stored securely without needing to rely on an intermediary?

The Trust Protocol Of Blockchain

For the first time in our history, two or more parties need not know nor trust one another to complete a transaction or do business thanks to blockchain. There are different types of blockchains, like public ones used to purchase Bitcoin or Ethereum and private ones being developed by banks.

It all starts with a distributed ledger that every single system that has access to it can use. Transactions that are constantly happening on the network are validated by a community. All of these transactions on the network are saved in a new block and then each block, once it’s validated, must refer to the preceding block in the blockchain. Blockchains are secure by design and are an example of a distributed computing system with the highest fault tolerance. Decentralized consensus has therefore been achieved with a blockchain.

Decentralization And Blockchain Are Opening Doors

Decentralization and blockchain are opening doors and empowering professionals, businesses and investors in a number of different ways.

One example is Earn.com. Professionals can use this app to earn digital currency by replying to emails and completing tasks. It’s a unique concept that allows professionals to be compensated in exchange for their data.

Another example is Profede, where I serve as an advisor. It is a protocol that uses blockchain to give power back to professional users. This protocol enables businesses and professionals to create a direct connection. Professionals control their personal data and then get paid each time businesses use it to offer them a job, a business proposal or a commercial offer.

Indorse is a decentralized professional network. You can show your skills, get validated by experts and get rewarded. The company brings value to professionals by making data valuable. It also formed a partnership this past November with Decentralized News Network, a news curation platform that’s attempting to establish a “reputation-based system of content creation.”

With data being worth so much to companies, blockchain could serve as the catalyst that not only protects our information but makes it a valuable asset in the future of data sharing and investments.