HireMatch ICO: Improving the Labour Market with Decentralized Blockchain Technologies.

The Labour Market tends to grow exponentially without a corresponding growth in the number of available jobs. There are more people looking for jobs than any other point of time in history. The major reason for mass unemployment could differ from country to country and region to region. For example, not being job-ready or lacking practical knowledge are some of the reasons. However, the main reason is that people are clueless where to go and look for jobs. There are certain online job portals like monster.com, jobberman.com, indeed.com and carrebuilder.com, but the main issue with them is that they are centralized which means that they control all their operations and flow of information from a single center. The problem with these sites is that they are very time consuming and do very little in terms of finding quality applicants.

Hirematch using Blockchain technologies has come to solve the problems related to Job recruitment processes.

What is Hirematch?

Hirematch is a decentralized application based on blockchain technology which uses smart contracts (online job portal) that will remove the role of third party middlemen when organizations are looking for employees. It will incentivize “Agents” with its HIRE token which will make the whole process cheaper and efficient for employers.

What Problem does Hirematch solve?

The recruitment industry has been largely remained unchanged for last 15–20 years or so. The online job market is dominated by few players and has been ineffective. The current process to hire is time-consuming, wasting human energy, costly, limited potential applicants and low quality of recruitment. All these conventional centralized decision-making processes are out-of-time. And a decentralized system is proven can be a better option.

1. Potential Applicants’ Attention

This issue will solely be solved by networking. Agents will use the people they know, be it their family, friends or associates connected by Facebook, LinkedIn or any other social site by recommending job offers. A potential applicant’s attention can also be captured by smart applications (type of agents) built on Hirematch’s innovative API.

2. Finding Enough Qualified Candidates

Hirematch has its own network of finding, verifying and validating, and recruiting talent. The process is completely decentralized which lowers the cost of employee acquisition and creates a freer job marketplace.

3. High Cost of Employee Acquisition

In today’s online job markets, employers often end up paying too many middlemen in the process of hiring an employee. Hirematch will completely change this as it is based on smart contracts which means only those people will be paid who actually helped in the acquisition of the employee. Also being based on blockchain, there is no way that the employees can be cheated.

HireMatch aims to solve all these with a truly decentralized, blockchain-based Employee Recruitment Platform.

What solution does Hirematch bring?

1) Reduces the cost
2) Accelerate the process of recruitment
3) Improve employee quality
4) Boost the engagement with jobseeker, employer and agency.
5) Tokenization will even-handed the disbursement method

HireMatch hopes to smack the current job market that is controlled by a small number of large companies and redistribute the power and reward back to the people through the HIRE token system.

The Token

The HIRE token is an integral part of the HireMatch concept. It is the main reward component that fuels the investors and participants interest in the HireMatch ecosystem.

HIRE is an ERC20-based digital token that serves as partial ownership and gas for the HireMatch job network. The main function of the token is to incentivize user agents to match, recommend and verify applicants for job listings.

HIRE paid via smart contract to agents when
1) recommending
2) validating applicants
3) the referred applicant is hired

The maximum unit of HIRE is capped at 100,000,000 unit.

Terms used in the Hirematch ICO

Occasionally, some terms will come up as I progress in this article. The terms are explained below for clarity.

Agents

It can be a human agent or a software agent connected via Hirematch’s API. These agents will have access to Hirematch’s API which can be used to create applications which in turn will help in finding better candidates.

Smart Contracts

Smart contracts are blockchain based contracts or agreements that define the rules around an agreement like a normal contract would, the only difference being that these contracts automatically enforce these rules. It is a code which can be written or encoded on any blockchain. The most commonly used blockchain for smart contracts is Ethereum since it provides unlimited processing capability.

Bounty

When a smart contract will be executed successfully, an amount in HIRE token will be distributed to the executing party. This amount in HIRE tokens is called Bounty.

How does Hirematch works?

  1. The company post on the platform (Hirematch.io) with the job requirement and selects a bounty in the form of HIRE coin to open a new recruitment offer
  2. The job offer published via SMart Contract on the Ehtereum blockchain
  3. Agents that match the requirements will get the notification with the new job offer. The agent then refers to all contact to shortlist the potential recruits.
  4. When the applicant is selected by the company, the final bounty would be channeled via the smart contract to every agent that participate in the process. This may include the referrals and interviews that were accepted by the company. The contract closed.

What is Hirematch.io?

Hirematch.io is a new decentralized autonomous application that aims to end the growing dissatisfaction associated with these companies and aims to release a platform that works for all.

It aims to reduce the cost, time lag and effort to search for suitable candidates to interview by removing unnecessary frictional factors that we know to be associated with the billion dollar hiring industry. The coin is based on the Ethereum blockchain’s extremely popular ERC20 token and they have given the name HIRE to their new coin.

The Hirematch.io has some very useful features:

  1. High degree of system flexibility
  2. Provision of incentives to platform users.

2. Low transaction fees for platform users.

3. Faster job recruitment service.

4. Crowdsourcing encouragement and elimination of employment related issues.

5. Providing innovative solutions for clients and talent creation.

6. Offering open source API integration.

Stages Involved

Research Stage: Here our team gather the much-needed market intelligence to plan and implement a scalable, robust decentralized job recruitment platform.
Implementation & Expansion Stage: We create and release beta version of the HireMatch.io platform mobile application, API and web application.
Marketing Stage: Our team advertise and market the platform and its benefits to the general public and the recruitment industry through traditional advertising(online and offline), tradeshows and webinars. Outreach to HR managers, recruiters or anyone that can benefit from the HireMatch.io platform.
The Future Stage: We build up the HireMatch infrastructure and API and continue 2, 3 and 4 infinitely.

Why Job Seekers should use Hirematch

These legacy sites are centralized and do very little to find quality applicants through the high-powered engine of social networks and other information sources. HireMatch is a platform that will be engineered to leverage both Ethereum blockchain technologies and it’s Smart Contracts to increase efficiencies and decrease the high costs of employee acquisition that many companies face. HireMatch is a closed loop payment system, meaning no new tokens will be created or destroyed and HireMatch will only accept (HIRE) to fuel its network of agents.

Smart contracts contain code that can be used to make decisions, store data, and send cryptocurrency to others. A Smart Contract is defined by it’s creators, but the service it offers, provided by the ethereum network, executes automatically.

Token Sale Timeline

The HireMatch.io Initial Coin Offering (ICO) starts on October 1st, 9:45 AM EST and ends on October 31st, 9:45AM EST. Once the ICO begins, anyone can participate by sending Ether to the official ICO Contract Address on this page. Do not send ETH to ANY address before the starting date or your money will be lost and you will need to repeat the process.

Details Of Token Sales,
ICO period: October 1 — October 31
Price Token: 1800 HIRE = 1 ETH
Maximum supply: 100,000,000 HIRE

Fund Allocation

A 30% allocation of (HIRE) tokens will be allotted to the founding team members, subject to a twelve(12) month holding period. These tokens will serve as longterm incentive for the HireMatch founding team and to
HireMatch employees.

Our Team

For more information, please use the links given

Official Website: https://hirematch.io/
Whitepaper: https://hirematch.io/docs/hirematch-whitepaper.pdf
AnnTread BitcoinTalk : https://bitcointalk.org/index.php?topic=2180727.0
Twitter: https://twitter.com/hire_match
Facebook: https://web.facebook.com/hirematchico/
Slack: https://hirematch.slack.com/

Written by Rulelies. Please contact me on my Bitcointalk profile https://bitcointalk.org/index.php?action=profile;u=1216033