The ICON Revolution: Improving Job Placement And The New DeFi Project
ICON has been making waves in the cryptocurrency industry as one of the most advanced and well-structured blockchain platforms. The hype around the platform involves its impressive use cases where it aims to integrate into numerous industries to deliver the efficiencies that come with blockchain technology.
ICON aims to facilitate the integration of multiple blockchains and blockchain-based solutions, and this has been the focus that its developer, ICONLOOP, has been working on. However, it has diversified to other areas such as a security token, decentralized apps, and decentralized applications. These points of focus align with ICONLOOP’s latest announcements regarding its developments.
Improving job placement in South Korea through ICON
ICONLOOP’s goal of integrating into mainstream services has so far fueled numerous partnerships, and the latest involves a South Korean-based job placement organization called Saramin. The collaboration aims to improve the country’s human resource industry by facilitating better job placement. If you have been following up on previous announcements regarding ICON, then you have probably heard that the platform will also be used for certificate issuance through a solution called Broof. Job placement seems like a logical next step since the systems can be integrated through the ICON blockchain network.
The ICONLOOP collaboration with Saramin will thus allow companies, organizations, and businesses to fine-tune their search when looking for people that are qualified to occupy various job positions. The beauty is that the same network will facilitate certificate issuance and so it will thus be super easy to run education background checks. Graduates will also benefit from better exposure to the job market based on their skill level. The goal is to help businesses and organizations to smoothen their recruitment processes.
Broof and MyID to play a key role in the development
Saramin’s aims to use the ICON partnership to provide more value while also offering better customer experience. It plans to achieve this by using MyID and Broof, which are both solutions that are based on ICON’s blockchain network. They are uniquely suited for the task because Broof is designed for the issuance and verification of digital certificates while MyID is a highly secure digital identification solution, and this will enable the use of the digital IDs over blockchain and so it will be a highly transparent system.
ICONLOOP CEO Jong Hyup Kim believes that the transparent and stable nature of blockchain technology will contribute greatly towards bringing more advancements into the human resource management field. He also believes that collaboration with Saramin represents yet another opportunity to showcase real-world use cases of blockchain technology and ICON-based solutions. The tie-in with the human resource segment will likely encourage more educational institutions, as well as corporates to jump on board the ICON-powered blockchain solutions train.
ICON’s DeFi project
ICONLOOP revealed in its latest roadmap release that it is working on a new DeFi project that is also based on the ICON network. The project is a great deal, especially to anyone that might be wondering how they can invest in ICON and make some money off it. The project is also a huge endeavor for ICON.
How to earn passive income on Balance
The new DeFi project is known as Balanced, and it essentially allows ICON network users to mine the platform’s native token called Balance Tokens or ICD. The latter will allow participants to contribute to governance on the platform, and it will also be used to facilitate network fees. The platform will split all fees on the Balanced platform on a pro-rata basis so that everyone that will have invested in the Balance token will receive dividends every week.
Investors can earn more of the Balance tokens by using their ICX as collateral to borrow against the ICD. The amount of ICD, each investor, will gain depends on the amount of the percentage of ICX that they stake as collateral. It is also a good idea to invest early so that you can be among the first few people that will be using the Balanced platform. This will give you a chance to leverage higher percentages from the token distribution.
You will also get to earn more from the fees used in the platform, the more it grows based on the amount of Balance token that you own. The introduction of the Balanced platform adds to the already existing two other avenues of earning ICX. The other two methods are staking and ICONbet. The latter rewards its users through a token called TAP.
The reward systems tie into ICONLOOP’s growth plans
This growing diversity in the incentivized systems for ICON-based solution makes those solutions more attractive to users. User engagement will contribute to more popularity and growth for the platforms and hopefully encourage more adoption. In other words, it might help to attract more traffic to the platform, thus driving up the level of ICX demand, especially in the long-term.
The beauty of the new way of earning through the Balanced platform is particularly exciting because it allows users to earn passively. They do not have to be actively involved in regular events or activities happening on the platform. So far, ICONLOOP is on track to achieve its growth goals for the ICON network. The company is arguably in high gear, and this is evident by the number of partnerships that it has secured so far. The new developments will also contribute towards driving up the value of ICX.
Summary
ICON announced in its latest Roadmap update that it recently achieved its target of 100 P-reps and the platform is currently more decentralized than it has ever been. There is no doubt that the blockchain startup is currently gaining traction thanks to its robust blockchain-based solutions. The introduction of new projects, such as Balanced is expected to help increase the adoption pace. ICONLOOP’s strategy is clearly centered on the creation of solutions that will easily integrate into key services that are deeply rooted in the society and economy.
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