Place/Date: Dubai, UAE - March 7th, 2018 at 10:48 am UTC · 3 min read
Contact: Maria Oreshnikova, Source:
The Blockchain-based Fiduxa project has already experienced more than a year of preparatory work, attention from key personalities and companies.The company is challenging the issues surrounding the recruitment cycle. Using blockchain technology, Fiduxa will provide a platform in which trusted digital records can be shared with potential employers. This will drastically decrease the time and costs associated with the recruitment process.
One of the biggest issues in the recruitment industry is that of delays in gathering and verifying job applicants career documents. This significantly increases operational costs as companies struggle to expedite the hiring of the right person. Fiduxa’s platform will offer access to a wealth of reliable information ensuring a trusted, transparent and effective recruitment process.
Job-seekers will be able to upload their career documents onto the system, certify and normalize their skills based on international standards: such details will then be accessible to future employers. Companies will be able to search for potential employees through a standardized model and verify related skills based on third-party certifications. Knowing that their search will be made on a trustworthy database, thanks to the usage of blockchain technology and verified by processes implemented through smart contracts.
Furthermore, Fiduxa will allow its users to be able to make money off of their data. Fiduxa has just launched its Initial Coin Offering, which will create the FDU, the digital currency at the heart of the platform. By certifying skills and competencies, users will receive FDU tokens. Companies wishing to access this data will have to pay, in FDU coinage, to obtain it.
This innovative new venture is aiming to disrupt the $550bn recruitment industry by providing a more reliable and less time-consuming alternative. Fiduxa will also position itself as the single source of truth for digital records of competencies, making it easier for employers to verify career documents.
Pietro Marchionni, a founder of Fiduxa, commented:
We have a great team with great ideas, and a unique certification process with Artificial Intelligence algorithms in development to improve rating results. Fiduxa enables certificators to earn from certifying creating a wealthy ecosystem. We also have onboard people that seat in standardization bodies for skills, this is a great advantage as many people use the same tag for really different skills. Finally, we have our investor in ISO standardization group for blockchain, we are at the leading edge of blockchain technology.
Marchionni also notes that the successful completion of the first version of the platform, already available live, is creating a solid base for growth.
How to participate?
Not only will Fiduxa address the existing failures within the 550 Billion$ market, but will also help expanding the industry rapidly. Business analysts have predicted that Fiduxa will be able to play a key role in the recruitment market with the following rates:
These figures represent the overall usage of the FDU coin in the market, do not represent the total projected turnover as it includes also B2B services.