Job.com co-founder Paul Sloyan believes that the blockchain technology has the potential to revolutionize and solve problems of the current hiring process. In his opinion, Internet is the last innovation that occurred in the recruitment industry several years ago. Nowadays candidates and employers are spammed with the fake listings and irrelevant applications.
Using the blockchain along with job matching technology gives the opportunity to remove recruiters from the equation and focus on the employer and the candidate.
The power of the Blockchain will bring both employer and candidate together. The employer will get a well-matched candidate for less and the candidate will get a forward-thinking employer, increased privacy and control over their data such as qualifications, skills and contact information. The personal information will be kept private until further details are required for employer and candidate to contact.
This technology will allow the 20% fees charged for the recruitment process to be reduced to only 6% paid for employing a candidate. 5% of those 6% will go to a successful candidate as a signing bonus.