Looking to capitalize on a $2 billion market, CVerification is developing a platform aimed to streamline traditional hiring practices. This is a market that is highly inefficient to date. The typical hiring process requires the participation of three different parties to complete. An employer, employee, and a data provider.
Typically, when an employee applies for a job, they are required to provide multiple forms/documents/certificates etc. To do so, they must first acquire them from the issuer. Once provided to the potential employer, the documents must then be verified for legitimacy. This process can often take weeks depending on the size of the applicant pool.
The CVerification platform will utilize the inherent qualities of blockchain to simplify this process for the users, and ensure data integrity. This will be done by building an interface that allows an individual to create an account. This individual would then proceed to authorize their previous employer, school, or experience provider to upload requested documentation. Once uploaded, the CVerification technology will verify the authenticity of these documents, and store this verification along with the information on the blockchain. Due to the immutable nature of blockchain technology, this is a one-time process. The CVerification account holder can now authorize potential employers to access this verified information. This saves the employer copious amounts of time and headaches associated with verifying the documents themselves, as this tedious process has already been undertaken.
To fuel the system, each time a party uploads or retrieves documents from the CVerification platform, a fee will be charged in the form of CVER tokens. Upon doing so, the party will then receive a voucher for future services equivalent to 70% of the fee charged. This incentivizes future use of the platform. Employers will not hesitate to pay these fees, as they are nominal compared to the amount of time/money saved through utilizing the service. For companies hesitant to use cryptocurrencies, services can be provided through payment in FIAT currencies. Upon receiving said FIAT, CVerification will then use these funds to purchase the equivalent amount of CVER via decentralized exchanges. By offering services in this manner, demand is constant for CVER tokens regardless of how companies choose to pay for services rendered.
If the idea of streamlining the hiring process is intriguing to you, and see the benefit to providing verification services, make sure to check out the CVerification whitepaper. The whitepaper will provide in-depth explanations on the inner working of the proposed platform.
These tokens will undergo an initial distribution through a planned ICO. Details can be found below.