EchoLink Blockchain Project to Fight Fraud in Resumes and Job Applications
Companies have to hire people all the time. They look for the most skilled candidates and then interview them, however, sometimes it can be hard to know whether that candidate is lying or not. Unfortunately, people lie a lot when creating their resumes for job applications.
Because of this big issue, a new blockchain company called EchoLink has devised a new blockchain project that aims to give companies all the tools that they need in order to really know whether a candidate has the education, skill and work experience that they say they do.
A Way To Redefine Resumes Using The Blockchain
A lot of people lie about their resumes at some point. A recent study made by YouGov has appointed that at least 10% of the people from the United Kingdom have lied on their resumes. This kind of small-time fraud can lead companies to hire the wrong people and have issues with this in the future, which is why the company decided to offer this kind of service.
According to the company, these issues can affect the productivity of the company, the morale of the office and even reduce the quality of work, as well as lose time teaching the skills that the unskilled workers who lied need to learn.
Because of this, the company is offering a service that will help companies to make background checks on the people they will hire before they interview them.
How Will EchoLink Work?
Basically, the whole idea is to let trusted institutions put data on the blockchain that will determine whether a candidate can prove that he actually did all the things that he claims. The trusted institutions could be educational institutions, for instance, or the places in which the candidate worked in the past.
As the credentials would be all on the blockchain, the user would have its experience proved via the information, which would be immutable.
The company also hopes that its system could be used to verify the degrees of people from abroad, as sometimes there is no way to know whether their degrees are from reputable universities unless they are really good and well known.
All of this, EchoLink hopes, will help in the formation of a fairer economy, in which the people who lie will not be hired by the companies, which will improve the lives of everybody. The company believes that widespread use of this technology will be beneficial for everyone involved and will reduce the number of people forced away from their jobs because they lied.
The company already has a partnership with JianKe, a company that helps college students to find part-time jobs, and it is gearing up to let its system be available for users soon.
Will EchoLink Be Successful?
While the company has a pretty great idea, it has a fair chance of flopping just like many other similar blockchain companies did. For software like EchoLink be really effective, it has to be accepted. No use in having a platform like this one if you do not actually have the trusted institutions, right?
Because of this, most of what will actually define whether this company will be a success story or if it will be forgotten is if the trusted institutions will get onboard this idea or not.