TrustLogics: Blockchain For Trusted And Secured Professional Data
The hiring industry has become extremely competitive. Honest jobseekers are not getting rewarding opportunities while companies are tired looking for skilled resources. 21st century has seen the advent of technology and widespread adoption of digitalized data. Presence of multiple networks also means that users are compelled to create individual profiles on each network rather than sharing information between platforms. The workplace placement marketplace is highly complex and competitive. Several companies are trying to bridge the gap between potential employers and jobseekers, and TrustLogics is the pioneer in this platform.
TrustLogics offers a peer-to-peer hiring model and reduces the gap between job seekers and recruiters by leveraging the potential of blockchain technology. It is poised to put the control back in the hands of the jobseeker. It aims to decentralize the recruitment ecosystem to allow jobseekers to share professional data across multiple platforms. It aims to provide innovative services that simplify processes in the recruitment industry to a whole new level. The patent for this platform is pending. TrustLogics aims to become a global information gateway for workforce data. It aims to –
- Allow users to verify their personal and professional information.
- Allow users to store information on this platform built on blockchain technology.
- Allow users to securely share access to their data with any application or user.
- Be a one-stop solution for active and passive jobseekers, recruiters and Independent Service Providers (ISP).
Limitations Faced by the Current Hiring Industry
When you discuss the scenario in current hiring industry, there are 2 segments of people involved. First segment includes salaried employees with highly specialized, knowledge-oriented line of work (professional segment). The second segment is the ISP segment that includes contractual or self-employed individuals. The various stakeholders in this ecosystem include – Candidates or jobseekers, recruiters and peer (the user on TrustLogics platform), service requesters and validators.
Limitations of current hiring industry include –
- Loss of identity and data – In the current environment, there is unnecessary and random circulation of professional and personal data. Presence of data on unsecured networks both online and offline results in data getting compromised. There have been endless instances of misuse and theft of data belonging to jobseekers.
- Lack of trusted reputation – At present there is no comprehensive platform that allows accessing and verifying the information provided by a professional. Even social media platforms have failed to fill this gap. Recruiters have to rely on extrapolations and probabilities which results in errors and inefficiencies.
- No concrete background information – There is no way for companies to gather information about any jobseeker. They have to hire professional background check services that cost time as well as money. It is difficult for any service requestor to trust and rely on information provided by strangers. Lack of a common platform to get information validated and collected is a major limitation.
- Hiring Decisions – Currently hiring decisions are majorly made on the presence of data on the resume of a jobseeker. The popular technique is to filter resumes based on common keywords between the resume and job description. Misleading resumes by jobseekers with incorrect education details, skills, certificates and work experience details are a common problem. Deserving candidates lose on opportunities while fraudulent seekers get hired.
- Monopoly of service websites – ISPs at the moment do not have any option but to rely on service websites for background and other information. The price paid to these service websites is high. If an ISP is able to hire directly, the cost and time will be quite low.
How TrustLogics is offering an ideal Solution?
TrustLogics aims to provide a solution to the current limitations of hiring industry. They are offering a platform that has a Service Oriented Architecture system and is cloud-based. The system will offer two different profiles for users – Jobseekers and recruiters. The permissions are user defined and services operate based on user profiles. Along with the web platform, it also offers Android and iOS mobile apps.
Features of TrustLogics
- Global viewing of availability status
- Auto sync of profile and other information across network connection
- Use of QR code to connect with recruiters and apply for job postings
- Presence of verified background checked profiles
- Permission rules to govern information access
- Easy integration with different system through open API
Due to a hybrid approach to blockchain solution, it is possible to scale the systems to millions of users globally. It uses –
Hyperledger Fabric is a distributed enterprise grade ledger. It builds a private blockchain to store data. It also uses Hyperledger to also cloud host with Amazon AWS. All participants in the ledger hold the same blockchain data. For security, the source is cryptographically signed. When multiple internal and external parties implement the same Hyperledger, data is synchronized in real-time.
The Ethereum Virtual Machine (EVM) is the core innovation of this system. It is a
Turing complete software that builds a public blockchain to record transactions. It makes the process of creating blockchains easier and more efficient. It enables building thousands on applications on a single platform.
Use of blockchain technology gives a range of extremely useful attributes to the system. It brings finality, consensus, provenance and immutability to the system with its shared, replicable ledger. To promote interoperability for decentralized applications, the system uses TrustLogics tokens. In the peer-to-peer hiring model, recruiter will post a new job vacancy and declare a bounty on closing that position. Suitable peers will be notified using the AI based algorithm. The peers can refer candidates within and outside the TrustLogics network. Once the position is closed, the TrustLogics tokens are distributed among participants involved. The TrustLogics commission is also deducted at this stage. The entire process is quite reliable and effective. The candidates are referred through the network and are trustworthy. Also, costs are incurred only on the closure of the position.
If an ISP wants background information on a particular candidate, they can place the request using TrustLogics tokens. They can also request a rating of their work from the Service Requestor. With TrustLogics, it is possible for the ISPs to maintain a digital portfolio of all reviews and ratings. Their Reputation Building System is also based on a proprietary weighted algorithm.
Innovative services provided by TrustLogics simplify the processes in recruitment industry and leverages full potential of blockchain technology.
||Completed market research and 1st draft of requirement draft
||2nd draft and Web UI/UX finalization and implementation
||Business pitches to international governements
||Mobile UI/UX finalization and implementation
||Web application beta launch
||Android and iOS mobile application launch; Started analysis on implementing Blockchain for TrustLogics
||MoU signed with Republic of Suriname, a South American country. – Partnered with several certified validators
||Whitepaper finalization and TrustLogics.io website launch
||Token sale proceedingsand Building partnerships
||Pre-Sale & Earn coins feature integration to existing platform
||Token distribution and Blockchain POC
||Verification system implementation
||Peer to Peer hiring model implementation and Expanding TrustLogics system to signed governments
||Reputation building system
||Digital portfolio for Independent Service Providers
||ETH, BTC, LTC, BCH
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