Blockchain, a killer technology for vetting candidates? Or are you happy already with LinkedIn recommendations?
You may have followed the evolution of bitcoin and how it is becoming a mainstream alternative to currencies, but not many of us have looked at how the technology behind bitcoin, the blockchain, is disrupting other markets as well.
If you watch videos like this one https://www.youtube.com/watch?v=4nOfHpOFhN8 , you realize that blockchain serves as a mechanism for managing trust that can go far beyond say avoiding a crisis like what is going on in Greece right now and in fact can be applied to lending, insurance, real estate and more.
Take for example the problem of vetting job candidates.
How do you know if their recommendations are legit when there are sites that offer bogus ones? How can you trust transcripts when they are emailed to you by candidates or otherwise doctored? How can you know the candidate has the skills they claim? Why do multiple employers have to pay (or make the candidate pay) for background checks and drug tests?
I propose that the blockchain could provide efficient answers to these challenges.
It's distributed nature allows it to avoid the self-interest problems related to proprietary systems like LinkedIn and could ultimately result in much more accurate placements at a lower cost.
We all know the good recruiters do for the overall public benefit. You lift people up out of unemployment or underemployment and you solve the people problems of organizations as well making them more efficient providers of goods and services.
If blockchain were to mitigate the trust issues that taint the recruiting process, we'd vastly increase the rate that recruiters do this good work.