Data privacy, data ownership and data monetization are all being aggressively remodelled in the emerging Web3 era thanks to the rise of blockchain technology. There is a shared stoic aim to give power back to the users; the data creators, and move it out of the hands of large centralised walled gardens.
Owner of the largest talent database in the world, LinkedIn made a staggering $6 billion in revenues last year which was largely generated from selling data on 500+ million users to recruitment agencies, marketing agencies and talent acquisition teams located across the world. People own and monetise their skills on the open, free market. Yet when it comes to data — on LinkedIn and most other legacy internet platforms, people neither own, control nor monetize their data. But now is time for change — cryptocurrency powered social recruiting platform; HireVibes, is leading the charge.
With companies from 15+ cities globally like block.one, Voice, Zeotap, using the platform to build their teams, professionals can already recruit themselves or their peers to job openings and earn a commission in the process. However, all user data is centrally stored on a company’s server, so the same data risks still apply.
Enter BlockBase. Based out of Lisbon, Portugal, the BlockBase Network is revolutionizing data storage services and like HireVibes; it uses the power, speed and flexibility of the EOS blockchain to achieve its goals. BlockBase enables all user data to be encrypted and it stores database operations on sidechains to the EOS main chain, which are managed through programmable smart contracts.
HireVibes will use the BlockBase network to enable professionals to control and monetize their data. On LinkedIn, Recruiters need to pay between $100 — $500pm to access LinkedIn profiles at volume, none of which is redirected back to the profile owners sadly.
On HireVibes however, Recruiters will be able to search HireVibes database of CV’s, but instead of paying a monthly subscription to do so, Recruiters will pay micropayments in HireVibes native utility token (HireVibes Tokens) to unlock full profiles. The exact payment required to access profiles will be set individually by each user, giving rise to one of the first novel use cases of a decentralized data marketplace.
This move will greatly benefit recruiters and marketers in aswel as professionals, as lower cost to access talent data will be ensured. Additionally, a small portion of each micropayment will be directed to the HireVibes community account for HVT holders to vote on its use / distribution in it’s up and coming Decentralised Autonomous Community portal in HireVibes 2.0.
More details of this feature will be shared closer to launch and bounty’s will be offered to incentivise development from the community. If you are a recruiter interested in adding HireVibes to your sourcing toolkit, contact us on hello@hirevibes.io.
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