Social Networks and Professional Profile Building: Inherent Issues
Social network has become a boom as increased number of people and organizations continue to use it to network, socialize, and disseminate information about their company and products to a wider global audience. However, despite the value users of these social networks add to the platform, they are not rewarded for popularizing their platform except that it is free of charge to use. There are no financial incentives given to users who contribute valuable content to the platform even though majority of the social networks generate revenue from advertisements and/or monetization of user data to third parties. Professional social networks such as LinkedIn do not recognize the value-adding contribution of users even though it is home to millions of professional profiles of organizations, business executives, professionals, and other individuals.
Employers of labor find the LinkedIn platform attractive because it showcases the professional profiles of individuals which may fit their available job requirements. However, it has become rampant for candidates to provide falsified or incorrect information on their resumes just to have an impressive profile. This is why companies perform background checks on potential employees to confirm the veracity of the information provided. This exercise can be very stressful, costly, and time-consuming. Current attestation systems are burdened with these challenges, which call for a way out.
Fortunately enough, the blockchain technology can solve this problem once and for all. Blockchain is a decentralized public ledger where transactions or records are stored in a transparent, immutable, and secure manner. Blockchain is a powerful solution to many challenges in legacy enterprise technologies, and can be adopted to solve the challenges inherent in the job recruiting industry. The blockchain can be used to create a system for validating skills, educational qualifications, certifications, and so on which hiring managers can trust.
Spring Network
The Spring Network is a blockchain-based platform that is designed to help users create a verified ready-to-share professional profile. It is essentially an attestation system that leverages the powers of blockchain to increase employers’ confidence in the claims on job seekers’ resumes. The Spring Platform will run on Spring Chain, which has successfully been launched with more than 100 transactions recorded on the chain. The platform will enable users to attest their educational qualifications, work experience, and skillset, and have verified claims added to the blockchain. Spring Network approaches attestation of users’ professional profile in a new dimension that surpasses existing solutions. At the core of the platform architecture is the attestation protocol.
Spring Attestation Protocol
It is an attestation system based on the public ledger and reputation score system. The protocol is intended to be intuitive for attesting and verifying user claims, therefore the SpringRole development team plans to make it strong and scalable for transactions. The system enables verified attestors to authenticate user qualifications and skills.
Attestors are categorized into person (individuals), companies, universities, course providers, and examination providers. They provide attestation based on specific skill set, work experience details, educational qualification and grade, and other courses such as provided by Udacity and Coursera. To guard against abuse and foul play on skill endorsements on the platform, Spring Network considers the weight of the endorser to score the endorsement and also requests a little fee to be paid by the endorser. Also, only verified users will have continued access to the platform. Therefore, individuals and organizations that desire to use the Spring Network Platform must register and verify their identity. Individuals have two levels of identity; for level 1, the user signs up with their Google account, and will only have limited access on the platform, while for level 2, the user completes their KYC with the platform accredited KYC provider. In the case of organization verification, the company signs up with identity provider, and the HR or business proprietor registers on the platform and completes DNS verification of the company.
Benefits of SprinRole Platform
- It will enable individuals to build a credible professional profile which recruiters can trust.
- Companies will be able to access verified potential job applicants’ resumes without having to start from the scratch again.
- Recruitment exercise will be faster and money saved.
- Third parties, on behalf of employers, can access user resumes for an affordable fee.
- Users will get an opportunity to earn SPRING tokens by engaging in various activities on the platform. This is a passive income opportunity.
Target Users
Individuals including job seekers, business executives, academics, etc, recruitment firms, and organizations are the potential users of the Spring Network.
Spring Token (SPRING)
SPRING is the utility token that will fuel all transactions on the platform. This implies that all activities on the Spring Network will be facilitated by SPRING token. The tokens can be used by attestors to endorse skills of a user and also by third parties to access validated resumes (on behalf of employers). Members can also obtain tokens through various activities such as referrals, rewards from endorsements (bounty), etc.
Tokenomics
Token name: SPRING Token
Total supply of tokens: 10,000,000,000 SPRING
Total tokens available for sale: 2,550,000,000
Public Presale: 1st June 9 - 31st July (Bonus: 40%)
Minimum contribution: 2 ETH
Maximum contribution: 500 ETH
Price: 0.00002 ETH/SPRING
Team
PARTNERSHIP
On a final note, SpringRole is introducing a better alternative to the traditional methods of attesting and verifying claims on resumes with its decentralized trust-based blockchain where individuals can have their profile information verified and recruiting companies can trust information of job applicants recorded on the SpringRole network.
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