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Project Spring Foundation is building the Spring network from the ground up, while considering all stakeholders. Users are fairly incentivized with SPRING as are attesters, ultimately providing a highly useful and validated resource for recruiters and prospective employers, partners and others. In fact, by fairly incentivizing users, users are always the central focus of the network.
The value of a social network, like LinkedIn, is derived from the individuals that use the network. The users of the network lend their value to the platform - without them the platform cannot thrive. Most platforms are free of charge for users with revenue streams from advertisements or services that monetize user data.
That said, users -- who often spend time on the platform curating their profile and adding valuable content -- receive almost no share of the monetary benefit, which instead accrues to the corporate sponsor (e.g., LinkedIn). User data drives the value of the platform without the user being fairly rewarded for their respective data.
Moreover, since networks like LinkedIn host professional profiles of businesses and individuals, incentivizing participation is key as it increases the value of the business and ultimately the platform.
Resumes are typically the first point of contact that potential employers have with candidates. They contain the key facets that we would like to showcase about our professional profile. Resumes are essential and will likely continue to hold weight for the foreseeable future.
However, in todayʼs world it has become common to have falsified or incorrect information on resumes. The onus is on the company to comb through resumes and use background verification and reference checks to ensure everything stated is valid.
Blockchain technologies have, for the first time, enabled an easily integrable and scalable solution where everyone can have an immutable and synchronized digital ledger. We believe that the time is right to build a protocol allowing people to have verified resumes and recommendations powered on the blockchain.
This provides a simplistic yet powerful solution to those in the job-seeking and hiring space. A new paradigm will emerge encouraging increased confidence in what we read online about another personʼs professional profile. Additionally, as the protocol is powered by the blockchain it is possible to cryptographically verify the information as and when needed.
While there are several use cases that can emerge once such a system is implemented, the main focus is on developing a robust protocol that helps solve a critical issue in the hiring and validation process.