The first real decentralised talent and identity verification protocol for employment.
The world is changing.The corporate world is moving towards increasingly more digital interactions
How we interact with each other has fundamentally changed. We have moved from physical to digital handshakes. We are progressing from in-person meetups to something entirely different.
The requirement for these meetups has not changed: We still need to meet with specific people and we still need to know who they are. What has changed is the where and the how.
Web3 has resulted in a wave of new meeting places, powered by the growth of the metaverse. Users are engaging with these new places at enormous levels and it is only a matter of time before the corporate inflection point is reached where meetings, fairs, events, conferences (and others) are 100% in a metaverse environment. The world needs a Web3 solution to solve a core problem that will mushroom if not solved:
How does one verify that someone is who they say they are?
Considering an employee in a company:
If we allow users to adopt any avatar and to append any skin or item of apparel, we can no longer use the physical inspection of yesterday to confirm Person A is indeed Person A.
If we can’t confirm Person A is from Employer X, then we have a huge problem of trust and transparency.
Our Vision
Trust and Transparency for Employers and Employees in the Metaverse
Our Mission
To be the sole protocol to govern verification of employers and employees in the web3.0 world
Our Solution
This project developed a decentralised platform to Verify Employers and Employees through NFTsWe have built an NFT Employee Badge to verify an Employee:
This NFT will hold the details of the Job Description and will be held by the incumbent already in the role or the new hire who has just arrived. It is immutable and will always and only belong to the candidate.
We have built an NFT Employer Badge to verify an Employer:
This NFT will hold the details of the Employer and will be held by employees of the company and used to verify that they represent the Employer
These NFTs will be irrefutable proof that:
- Someone has a specific role and specific job requirements at a company, and
- A person represents a verified and vetted company. These NFTs will be the badges that will allow for verification in all online (and offline) meetings and engagements.
Key components and questions around our Blockchain solution
Is there evidence that this solution works?
Yes. We have a live solution tested where we can create and verify NFT badges. We also know jobs classifieds sites work. There is ample evidence internally in Ringier of this and externally through well known brands like Indeed, Monster, Jooble, Linkedin et al. We are not proposing a solution that abstracts away from what people already know today. We are proposing a solution that looks and feels like today, but operates like tomorrow.
Is there a need for verification of employees and employers?
Yes. The need for corporate verification is already a problem and is only set to become more of a problem as we increasingly shift interactions from physical to digital. According to the Cycbersource Global Fraud Report 2022, the second most important tool to prevent fraud is identity validation. This comes before 2FA, 3-D secure authentication and a host of other well known tools.
Is there a need for streamlined and improved recruitment processes?
Yes. The biggest challenge facing job boards today is a declining ability to find good candidates for customers. The recruitment industry is undergoing a massive transformation. The traditional model of highly active job seekers and single destinations for finding these individuals is no longer valid. Job Boards are no longer destinations but rather distribution agents trying to find the right talent. This problem is compounded by the advent of greater privacy demands. It is no longer as easy as it was for big centralised monoliths to track each user, weigh and measure their interests and force feed content to them for the right price.The aspect of allowing the community to partake in the contract - in true Web3.0 fashion - is an area that is not tapped. It is also an area that would be markedly cheaper, most likely quicker and certainly more likely to be able to find the ‘hard to find’ skills that are often difficult to find on cookie profiling used by programmatic advertising agencies.
What details does the Employee NFT have in it?
This NFT will hold the details of the person’s Job Description. It will be transferred to the successful candidate (or the incumbent) when the candidate is placed. It is soulbound and immutable and will always and only belong to the candidate.
Will an Employee Badge replace a Job Description and CV as we know it today?
Yes, we think so. It is better in every way and ensures 100% validity on what is presented.
How does a candidate apply to a job in this system?
Candidates can apply like they would to a typical job listing. The NFT Role can also be easily shared and referrers can be paid using a smart contract built into the fulfilment of the role.
Can non-technical users use the protocol and the smart contracts?
Yes. Using our deep experience in job marketplaces and applicant tracking systems, we have easy tooling to access the underlying NFT and blockchain technology and to release public facing HR tooling to access the network
Can users of the protocol make money from this?
Absolutely. There are attractive incentives and bonuses for referrers and candidates to create urgency in filling and closing the role. We have our own internal coin to power the platform which can generate large revenues on usage and sales for all participants.
How does the protocol make money?
We have 3 categories of revenue streams: Protocol Fees, Services Fees and Ancillary Fees Protocol Fees happen for every transaction on the protocol where an application is creating an Employee Badge and for every transaction on Smart Contract Layer where someone is looking to recruit a candidate. Services Fees are earned on the classifieds site for Promotion and paid distribution of job listings. Ancillary Fees are earned as arbitrage transaction fees on spot token purchases for those not paying directly in POPP Tokens.
Can you access this target market?
3.4 billion people are employed today. Not everyone is in an industry or role that works well for this solution (yet). We see a target addressable market of ~500mn workers in service industry roles for high income countries. Ringier has ~150 businesses in media and marketplaces across the globe that give us immense power to reach and advertise in many of the target market countries. This is a competitive advantage that makes our ability to scale this solution much better than most other players.
Under our protocol we can support a number of use cases for the POPP NFT:
Verification of Employment
Non Fungibility of Roles at Employers
Digital CVs for employees made up of accrued Employee Badges
Seamless signing bonus administration for new hires
Automating access to Events and conferences using Employee NFTs to verify employees in the Metaverse
Smart contracts to handle recruitment payments, signing bonuses and more
Physical Building access control
Verification of Employment for Financial Applications (eg Proof of Employment for a loan application)
Employer Referrer letters from previous / current roles built into Employee Badges
