The mission of CVproof is to provide a tamper-proof means of fighting credential fraud. To achieve this mission, it will utilize the blockchain to develop a platform that enables that notarization of CV credentials. This platform will be used for all types of credentials from any industry in any nation for the purposes of digital validation. In the mid-term, the platform will provide other services such as job posting and sourcing. The long-term goal is to provide an immutable means of validation via the use of secure online tools that connect CV holders to authentic credential holders.
What Makes CVProof Different?
Not only is the platform creating a dependable career validation process, but it is also proposing a new business model, which will incentivize users to take part via a revenue sharing model. To achieve this, the developers have created an ecosystem that allows users to access services for which they pay or get compensation in INK tokens. Thus, the platform will be powered by INK tokens.
The Challenges CVProof Credential Validation Data Aim To Solve
In the modern world, most job applications are made via a CV sent online to agencies, recruiters, and employers. The result is that most CVs are sent in an unattested format as a digital copy. This ease of sending documents without having to pay a dime to postal services is expensive for recruiters.
For one, it makes it easy for candidates to cheat. Besides that, it means that the recruiters have to undergo a rigorous verification process to avoid the disastrous consequences of a bad hire. Besides that, they are faced with the problems of having to filter through mountains of applications that do not have the skills required.
The data shows that about 25% of all applications usually contain some credential flaws. The most common mistakes that job seekers make is misrepresenting their job titles and their employment titles. A recent study showed that about 50% of people lie on the resume.
The Cost Of A Bad Hire
A bad hire is not just embarrassing; it comes at a monetary cost. For companies that have 500 employees or less, a bad hire can cost them about $11,000. However, for large companies, that cost doubles to about $22,000. For large companies with over 1000 employees, that cost can be as high as $24,000. There is also the fact that an average corporate job offer attracts 250 submissions. Of those, only about 5 will be interviewed for the job.
With the help of CVproof most if not all of these issues recruiters face can be resolved with the help of blockchain technology. The best thing about this system is that the CV holder will not need to provide the original documents. This is because the platform will already have a tamper-proof mechanism to validate their claims.
CVProof INK ICO Details
The public sale is expected to take place in Q1 of 2018. The sale is expected to begin in about 12 hours. There will be 475 million INK available. This figure includes the 50 million made available on the presale that took place in December 2017.