WorkChain.io, the blockchain solution for the future of work, has launched its debut decentralized application workID, the world’s first Immutable CV built on the blockchain that is designed to transform how the professional world works.
WorkChain.io CEO Ivan Petrovic, a veteran of the workforce technology industry, made the official announcement, revealing how workID will use blockchain technology to shape the future of work, hiring and even payroll.
Mr. Petrovic said:
“In today’s working world, employers stand no chance when it comes to trying to vet candidates. 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. 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 a decentralized 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.
Using the verified records the WorkChain creates, workID combines work, academic and payment histories in a single, universally-accessible and searchable profile which verifies information such as:
- Full and part-time employment history
- Position(s) held, start and end dates
- Individual shifts and contracts
- Degrees attained, institutions attended and academic records
- Payroll and leave records
workID is the first decentralized application built on the WorkChain through the platform’s proprietary blockchain protocol. The second, workPAY, will enable real-time payroll processing using the verified work records of the WorkChain platform.
Mr. Petrovic continued:
“The way the world works is shifting rapidly toward on-demand and independent work. For example, in the US alone, there are 78 million hourly wage workers and 50 percent 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. With workPAY, we’re creating freedom from payroll cycles by enabling real-time payments on the blockchain.”
workPAY uses the validated proof of work records of the WorkChain to create real-time payouts for employees and simple, automated payroll processing for employers.
Through workPAY, WorkChain.io is aiming to become the first blockchain platform to directly create opportunities for people in traditional jobs to earn cryptocurrency.
Development of WorkChain.io began in mid-2017 and the platform had its beta launch in April 2018.
workID is now live by invitation only by visiting www.workchain.io or by joining the company’s official Telegram group. Test payments through workPAY are scheduled to begin in the coming months.
WorkChain.io is the blockchain solution for the future of work, creating better ways to get hired, paid and access capital. WorkChain.io is a Cayman organization employing people globally through offices in California, Panama, and Serbia.
The WorkChain.io team has spent the past ten years working hands-on in the global workforce management sector and collectively founded seven successful ventures.