WorkChain.io has claimed to have created the world’s first immutable CV using Blockchain. WorkID is a decentralised application which verifies an individual’s work history and qualifications using blockchain. Indeed, it is being hailed as “LinkedIn in on blockchain”. WorkChain.io CEO Ivan Petrovic, a veteran of the workforce technology industry, made the announcement at the d10e global decentralisation conference in Malta this week, revealing how workID will use blockchain technology to shape the future of work, hiring and even payroll.
“In today’s working world, employers stand no chance when it comes to trying to vet candidates,” Mr. Petrovic said. “A line in a resume can be easily made-up and LinkedIn is unreliable because more than a third of people lie on their LinkedIn profile.”
“workID uses advanced blockchain technology to build the world’s first immutable CV that contains only trusted, verified data,” he said. “It will revolutionise the future of work, giving employers an unprecedented ability to hire with certainty and employees will gain true ownership of their identities.”
workID is a decentralised application built on top of the WorkChain, a public ledger of verified proof of work records created through integrations with trusted data sources, such as workforce management and payroll systems.
The decentralised application will be able to verify an individual’s work identity information, such as:
Having created workID the company is hoping to launch workPAY, to enable real-time payroll processing using the verified work records of the WorkChain platform.
“The way the world works is shifting rapidly toward on-demand and independent work,” Mr. Petrovic continued. “For example, in the US alone, there are 78 million hourly wage workers and 50 per cent of people are expected to work independently by 2020.
“These on-demand workers can be hired in the blink of an eye and complete a job in real-time, but often wait weeks or even months to get paid due to slow, traditional payroll cycles,” he says. “With workPAY, we’re creating freedom from payroll cycles by enabling real-time payments on the blockchain.”
Through workPAY, WorkChain.io is aiming to become the first blockchain platform to directly create opportunities for people in traditional jobs to earn cryptocurrency.