Blockchain-based platform WorkChain, the decentralized protocol for the future of employment, is looking forward to the launch of its first decentralized application designed for modern professionals – WorkID. The app stands for the concept of a blockchain-based immutable CV, allowing for full and confident verification of individual employment history and qualifications.
Similar to “LinkedIn on the blockchain”, WorkID leverages the innovative features of blockchain technology to revolutionize such typical working processes as hiring and salary management.
According to Ivan Petrovic, CEO of WorkChain and an experienced expert in the industry of human resource technology, there are many challenges that employers currently face in the process of verifying the qualities of candidates applying for work. These issues, such as falsifying profile data, are to be solved with the help of innovative WorkID app:
“WorkID uses advanced blockchain technology to build the world’s first immutable CV that contains only trusted, verified data. It will revolutionize the future of work, giving employers an unprecedented ability to hire with certainty and employees will gain true ownership of their identities.”
WorkID is built atop WorkChain, a public ledger containing proof of work records that are verified via integrations with reliable and trusted sources of data, including payroll systems and human resource management.
WorkID is designed to unify histories of employment, education and salaries into one single profile that can be searched and globally accessed. This is due to the verified records created by WorkChain’s proprietary protocol.
Another upcoming decentralized application created by the WorkChain team is WorkPAY, which will allow for payroll processing in real time using the same verified work records of WorkChain. With the help of WorkPAY, WorkChain is to become the first blockchain platform to directly create opportunities for people in traditional jobs to earn cryptocurrency.
Ivan Petrovic also points out how the modern employment industry is rapidly moving towards independent work. By 2020, the company expects that at least half of 78 million wage workers in the US alone will work independently on demand:
“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. With workPAY, we’re creating freedom from payroll cycles by enabling real-time payments on the blockchain.”
A Cayman-based organization with global offices in Serbia, Panama and California, WorkChain began development in the middle of 2017 and saw its beta version launch in April 2018. Its mission is to provide the blockchain solution for the future of work, creating better ways for workers to find employment, get payments and access capital.
It has a decade’s track record of hands-on management in the international workforce sector, founding seven successful ventures in the process.