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A start-up company is launching a Blockchain-powered platform which facilitates direct interactions between professionals and businesses – eliminating the need for intermediaries.
Profede claims firms will find it easier to get in touch with people whenever they are looking to hire new talent or collaborate on projects. Through the company’s “professional protocol,” a decentralized system, the person being contacted receives a payment whenever their details are accessed by an interested party.
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The company has already entered into a partnership with beBee, a “personal branding platform for professionals” that is currently used for networking by more than 12 mln people. Under their arrangement, beBee is going to become the first platform to benefit from Profede.
Fixing the recruitment sector
Based in Estonia, Profede says existing networking platforms are failing to provide businesses and professionals with the opportunities they deserve.
Because individuals are constantly inundated with pitches they are uninterested in, companies with legitimate opportunities have difficulty in grabbing their attention – meaning their subscriptions can represent poor value for money.
Profede wants to tackle the high fees that businesses have to pay in order to be introduced to the qualified individuals they seek, while making sure that the professionals they are reaching benefit from some of this revenue.
Making networks profitable for professionals
Profede defines professionals as those who have registered an account on LinkedIn, and those with a presence on job sites and networks which are tailored to particular industries.
When a professional joins Profede, they have the chance to decide which information is publicly available, and how much their full profile is worth. Businesses and other professionals must pay this fee to gain access.
Participants are rewarded in Professional Activity Tokens (PATO) with a small cut of their earnings, being taken just 2% as a fee by Profede.
The business wants to ensure that individuals feel like they are appreciated, and simultaneously help companies to achieve results quickly and without great expense. Because of the way the protocol works, a company would only need to spend money when a profile matches their requirements. To help businesses make an informed decision, they will be able to check the feedback a professional has received in the past.
According to Profede, its Blockchain-driven protocol would be useful when a company is trying to source a qualified specialist in a particular industry to join their team, or when the said specialist is trying to find new employment.
An alpha version of Profede is expected to be completed by the autumn, with beBee integrating a beta model of the professional protocol into its platform come the end of the year.
Once fully released the following year, the company plans to go on a marketing drive so smaller firms can discover more about how it works. The company hopes that it will incentivize professionals to create profiles onto apps for recruiters and use Profede’s protocol.
Profede are currently in their pre-sale period, you can find out more on their Token Sale by visiting their website or Telegram, or by reading their white paper. The hard cap is $20 mln, with the entire volume being 6 bln PATO.