Africa is a growing continent blessed with human and natural resources. But despite witnessing some great achievements in the past decades, one of the biggest problems the continent faces is unemployment. Due to unemployment or unfavourable working conditions, the manpower the continent needs to run the continent leaves in droves looking for greener pastures.
Despite the number of departures, the youth population in Africa is expected to double, to over 830 million, by 2050. This spells doom as there is little or no infrastructure to curtail this disaster as some countries such as South Africa already has a percentage of 27.7 unemployment while Nigeria tags behind Greece with a percentage of 18.8 unemployment. However, since the inception of Blockchain technology, various sectors from health to real estate have experienced disruptions and the recruitment sector is not to be left behind. The question now is what can the blockchain technology do for the recruitment industry in Africa?
The challenges faced by recruitment agencies might not be visible as that of other sectors but then it there are lots of unemployed youths in Africa and this calls for an urgent solution. Recruiters face challenges that range from trying to place someone at an organization to vetting a qualified candidate for various positions. But, One of the biggest challenge facing Africa is ‘data’. Africa lacks a solid database and this proves to be a huge problem for recruiters when vetting candidates. Most often, the wrong man for the job gets picked up and it might set the company backward.
Recruiters have to prove that the candidates indeed have the qualification they claim to have. they also have to ascertain that the educational qualification, work history, and references are legitimate. They cannot just take the candidates resume at face value neither can they become a forensic scientist in the process of confirming the legitimacy of a candidate’s document. A new solution will need to overcome the hurdles face by recruiters before a company discovers too late that a top executive isn’t the graduate he claims to be.
The Blockchain Solution
Recruitment agencies can benefit from the blockchain technology which has other uses cases beyond cryptocurrencies its most popular use case. The blockchain technology is one that makes systems more secure, more efficient, increased transparency, and provides accurate tracking. it also provides a permanent ledger and it reduces the cost of interacting with a middle for verification. Using a blockchain platform such as Uport, a candidates identity can be verified. This is because Uport allows one to build their identity on the blockchain making it verifiable anywhere in the world. Since the blockchain cannot be easily edited and only accessible to the concerned parties, the candidate cannot falsify his information and the data is accessible to just the recruiter.
Candidates will have to input real data since it could be easily traced if it is falsified. the candidate’s entire educational background and work history, as well as references, can be assessed by the recruiter. This will be a game changer in Africa where falsifying paper records seems to be so easy.
What do you think about using the blockchain in recruitment? Share your opinion with us in the comment section below.
Image credit: pixabay,
The Information provided on the website is designed to provide helpful information regarding cryptocurrency subjects. The content is not meant to be used, nor should it be used as a basis, foundational knowledge or prerequisite for decision making regards trading. Always do your own research and due diligence before placing a trade. We are not liable for any outcome based on any content found on the site.
Waves to Launch Blockchain-Based Games Marketplace with The Abyss
Blockchain Platform Waves and blockchain distribution platform – The Abyss will jointly launch blockchain-based marketplace of digital goods and in-game items.
The co-operation will see the building of a universal marketplace of all tradable goods and in-game items offered by Abyss partner game developers through their games.
The marketplace will enable users to purchase items with Abyss Tokens and sell to other users no matter what supported game it was purchased from. This, according to Waves will open another way for game developers to monetize their games on The Abyss.
Waves revealed the Abyss tokens will be integrated with the Waves Blockchain thereby enabling developers to connect The Abyss Token operations directly into their Waves-based games.
This will be made possible and easier by the release of an SDK and provision of technical assistance by Abyss.
Founder, The Abyss Konstantin Boyko-Romamovsky is quoted saying “The Abyss development team has already started preparation for the integration of Waves solution. The respective API methods and libraries will be added to the platform SDK and offered to game studios and developers.”
As a mutual benefiting arrangement, games built on the Waves blockchain will be able to utilize the distribution network of The Abyss therefore getting exposure to a wide audience of gamers.
Speaking on the arrangement between both firms, CEO, Waves Platform, Sasha Ivanov said, “The integration of Waves technology will enable The Abyss to create one of the best and the most advanced digital marketplaces in the video game industry. Apart from boosting up blockchain adoption, it is also supposed to increase the speed of processing trading transactions”.
Based on the Ethereum blockchain, The Abyss is a digital distribution platform for online video games with a unique revenue sharing system. The Abyss offers browser, client and blockchain games and provides game studios with additional customer benefits, from community features to marketing tools. Part of the income generated by sales of games & services is distributed between users in the form of rewards for various activities available on the platform.
A Proposal Has Been Made To Move ZCash from POW to POS
A ZCash Improvement Proposal ZIP was submitted to the ZCash community to migrate the privacy focused blockchain from the Proof of Work protocol to Proof of Stake.
The proposal was made by a user rebekah93. According to the community member, “Zcash was launched using Proof of Work. This meant that as well as removing the risk of POS being in some way faulty, the developers could focus on snark development rather than proof of stake development. Now the situation is a little different, as POS is a little mature and shielded transactions in zcash have come leaps and bounds.
This means that we should be able to switch from POW to POS without diverting developers too heavily away from other protocol improving works.”
The motivation according to rebekah93 for the improvement proposal was “by not wanting to have ‘destroying the planet’ as one of zcash’s most prominent achievements.
This is related to the amount of power needed to maintain the proof of work blockchains with Bitcoin being the highest consumer as the largest pow blockchain.
In order to achieve consensus, the community will have to answer some questions such as:
what properties does it want from POW? BFT or not?, Which are the best POS protocols that satisfy the needed properties, who gets to have the loudest/definitive say, when will it be implemented, who will implement it, will there be a transition period, when will the transition go live?
The ZIP which is currently in draft stage has attracted comments from the zcash community with one member Faddat defending POW by saying it doesn’t harm the environment and that it is one of the most efficient uses of stranded energy. According to him, POS chains have more favourable performance characteristic, but POW is more secure.
Another member of the Zcash community by the name OliverNChalk is of the opinion that the migration to POS should be put on hold and wait to see how the Ethereum imminent migration to POS goes as this would give an idea of how POS looks in the ‘wild’.
A member of the Zcash foundation by the name Sonya said concerning the ZIP “I like proof-of-work because the economics are straightforward and the model is battle-tested. I don’t think proof-of-stake has been around long enough that we should jump on it — maybe another couple of years.”
The proposal was created over 40 hours ago, it has received 1500 views and 12 replies. At current it is still a draft.