Partnering opportunity

UK company offers blockchain based employee background checking tools under licensing agreement

Summary

A UK business has developed a blockchain based employee background checking toolkit. The automated tools increase the speed with which employers can undertake verification of information on job applicants. The business is seeking licensing agreements with HR (Human Resources) or recruitment teams and job networks who want to be able to complete checks on new staff faster, leading to them commencing work earlier.

Partner sought

The company is looking for organisations that are seeking improvements using automation, candidate experience, candidate privacy or simply wish to modernise employment checks. The company is looking to offer the hiring tools to HR, recruitment, talent-acquisition teams, job networks, and job boards under license agreements that may also include white labeling or further customisation of the product.

Description

The employee background checking system developed by a UK company provides the employer with automated referencing, feedback and background checking tools. For employers, this enables them to undertake quicker checks, including gathering in-depth insights on candidate skills and work styles. Currently, companies collect extensive data interviewing and employing individuals but each business collects the same information from each applicant as there is nothing available that is secure and allows simple background information to be stored and securely shared. As a result, the data collected at interview stage is owned by each organisation a candidate meets. This leads to delays in employing candidates and leads to less stringent referencing being undertaken. The UK business is seeking clients under licensing agreements that may also include white labeling or further customisation of the product.

Advantages and innovations

The toolkit uses blockchain and smart contract technology. The platform records proof of candidates' work data in identity contracts on the Ethereum blockchain. Recording this information on the blockchain means it is verified in a transparent and trustworthy fashion, and data such as "proof of right to work" and "proof of work experience" only needs to be recorded once. Then workers can reuse it throughout their careers. Jobseekers data is verified by the individual's peer network and cannot be accessed or changed by anybody else, including the toolkit development team.

Development stage

Already on the market

Intellectual Property Rights (IPR)

Not available


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